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INVN ETF — Holdings & Analysis

The Alger Russell Innovation ETF (INVN) is an equity ETF managed by Alger, focusing on U.S. companies deemed innovative and underrecognized by the market. Launched in January 2025, INVN has a small AUM of $0.02 billion and an expense ratio of 0.55%. The fund aims to capture growth from companies developing or benefiting from new technologies and advancements, differentiating itself through its specific focus on unrecognized innovation within the Russell index. Past performance does not guarantee future results.

Alger Russell Innovation ETF (INVN) ETF — Price, Holdings & Analysis

The Alger Russell Innovation ETF (INVN) is an equity ETF managed by Alger, focusing on U.S. companies deemed innovative and underrecognized by the market. Launched in January 2025, INVN has a small AUM of $0.02 billion and an expense ratio of 0.55%. The fund aims to capture growth from companies developing or benefiting from new technologies and advancements, differentiating itself through its specific focus on unrecognized innovation within the Russell index. Past performance does not guarantee future results.

ETF Overview

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in the securities of the underlying index. The underlying index is comprised of U.S. equity securities that the manager believes represent innovative companies that the market has not yet recognized which are developing or benefitting from new products, services, technologies, or advancements.
INVN aims to provide investment results that correspond generally to the performance of the Russell Innovation Index. The fund invests at least 80% of its net assets in securities within this index, focusing on U.S. equity securities believed to represent innovative companies. These are companies the manager believes the market has not yet recognized, and are developing or benefiting from new products, services, technologies, or advancements. The fund's top holdings include companies like Enphase Energy Inc (3.19%), RingCentral Inc Class A (2.76%), and Align Technology Inc (2.71%). While the fund is primarily invested in the United States (95.9%), it also has exposure to Ireland (2.1%) and Australia (1.9%). This ETF may appeal to investors seeking exposure to potentially high-growth, innovative companies that are not yet widely recognized by the market. Past performance does not guarantee future results.

Risk Metrics

INVN carries several risks typical of focused equity ETFs. With only 10 holdings, the fund exhibits significant concentration risk, as the performance of a few key stocks will heavily influence the overall return. The 0.55% expense ratio will create a slight drag on performance compared to lower-cost ETFs. Given its focus on innovative companies, the fund may be more volatile than broader market ETFs; however, its 3-year Beta is currently 0.00. The fund's concentration in specific sectors related to innovation could also amplify sector-specific risks. their may be worth researching risk tolerance and investment horizon before investing in INVN. Past performance does not guarantee future results.

Expense Ratio

0.55%

Top Holdings

Sector Allocation

  • Other: 0.1%
  • United States: 95.9%
  • Ireland: 2.1%
  • Australia: 1.9%

Dividend Yield

0.00%
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  • <a href="/etf/ashs">Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS)</a> — 0.65% expense ratio

Risk Metrics

  • Beta: 0.00

Questions & Answers

What is INVN and what does it track?

The Alger Russell Innovation ETF (INVN) is an actively managed equity ETF that seeks to track the performance of the Russell Innovation Index. This index is composed of U.S. equity securities that Alger believes represent innovative companies the market has not yet fully recognized. These companies are typically involved in developing or benefiting from new products, services, technologies, or advancements. The fund invests at least 80% of its assets in these securities, providing investors with targeted exposure to potentially high-growth, innovative businesses.

What is the expense ratio for INVN?

The expense ratio for INVN is 0.55%. This means that for every $10,000 invested, $55 is deducted annually to cover the fund's operating expenses. While this is a reasonable expense ratio for an actively managed ETF focusing on a specific investment strategy, it is important for investors to consider this cost when evaluating the fund's potential returns. Investors should compare INVN's expense ratio to those of similar ETFs to assess its cost-effectiveness.

What are the top holdings in INVN?

As of 2026-03-15, the top holdings in INVN include Enphase Energy Inc (ENPH) at 3.19%, RingCentral Inc Class A (RNG) at 2.76%, and Align Technology Inc (ALGN) at 2.71%. These holdings reflect the fund's focus on innovative companies within the technology and healthcare sectors. Bristol-Myers Squibb Co (BMY) and Merck & Co Inc (MRK) are also top holdings, both at 2.71% and 2.68% respectively. The fund's concentrated portfolio means the performance of these top holdings will significantly impact the overall performance of the ETF.

Is INVN a good long-term investment?

Whether INVN is a good long-term investment depends on an individual investor's risk tolerance, investment goals, and time horizon. The fund focuses on innovative companies, which can offer high growth potential but also carry higher risk. INVN's expense ratio of 0.55% should be factored into long-term return expectations. Investors should carefully consider the fund's investment strategy, holdings, and risk profile in relation to their own financial circumstances before making a decision. Past performance does not guarantee future results.

How does INVN compare to similar ETFs?

INVN distinguishes itself through its focus on unrecognized innovation within the Russell index. With an expense ratio of 0.55% and AUM of $0.02 billion, it is smaller than some of its competitors. Other innovation-focused ETFs may have different investment strategies, sector allocations, or expense ratios. Investors should compare INVN's holdings, performance, and risk metrics to those of other similar ETFs to determine which fund best aligns with their investment objectives. Past performance does not guarantee future results.

Does INVN pay dividends?

According to the latest data, INVN has a dividend yield of 0.00%. This indicates that the fund does not currently distribute any dividends to its shareholders. Investors seeking income-generating investments may want to consider other ETFs that offer higher dividend yields. The fund's focus is primarily on capital appreciation through investments in innovative companies, rather than dividend income.