At a glance
ALIL charges 0.74% a year. It has $25.1M in assets. Its ten largest positions make up 35.9% of the fund, out of 41 in all.
The short version
Argent Focused Small Cap ETF (ALIL) is an actively managed fund that held 41 mostly US small-company stocks as of August 31, 2026. Argent Capital Management picks them using a 25-factor scoring model and in-depth company research. It may appeal to investors who want a concentrated, hand-picked alternative to broad small-cap index funds, at 0.74% a year. Its record is short and uneven: it returned -2.88% in 2025, while the Russell 3000 Index gained 17.15%.
Price history
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ALIL — over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ALIL official prospectus, to Dec 31, 2025 | — | -2.88% | — | — | — | +10.61% |
| Russell 3000 Total Return Index (reflects no deduction for fees or expenses) index, same period | — | +17.15% | — | — | — | +20.86% |
| ALIL price data to Oct 27, 2026 | -3.3% | — | — | — | — | — |
- The deepest fall in its price history was 11.7% (Jun 30, 2026 to Oct 16, 2026), not yet recovered.
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Aug 31, 2026, the fund held 41 securities; the ten largest made up 35.94% of assets.
| Holding | Weight | |
|---|---|---|
| Victory Capital Holdings Inc | 4.93% | |
| Enpro Inc | 4.16% | |
| ePlus Inc | 3.80% | |
| Medpace Holdings Inc | 3.77% | |
| IES Holdings Inc | 3.53% | |
| Green Brick Partners Inc | 3.47% | |
| Chefs' Warehouse Inc | 3.37% | |
| RBC Bearings Inc | 3.15% | |
| JFrog Ltd | 3.07% | |
| Houlihan Lokey Inc | 2.69% | |
| Ligand Pharmaceuticals Inc | 2.60% | |
| Peabody Energy Corp | 2.58% | |
| Champion Homes Inc | 2.58% | |
| Bel Fuse Inc | 2.51% | |
| Bread Financial Holdings Inc | 2.42% |
By country
United States 92.29%Canada 4.14%Israel 3.07%By asset type
Stocks 99.5%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $978K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.09%, -6.42%, -0.33%.
How it works
ALIL follows no index. Its managers at Argent Capital Management pick every stock. They start with about 2,000 small companies and keep those averaging at least $1 million in daily trading. They group them by sector and score each from 1 to 10 with their Argent Alpha Model, which uses 25 factors in four groups: value (such as price to free cash flow), growth (rising operating cash flow), quality (cash flow return on assets) and stability (balance-sheet cash versus market value).
Argent then favors stocks exposed to the factors that have been working in their sector. Those top-ranked names get hands-on research into financials, competitors and management. The team looks for growing cash flows, a durable competitive position and sensible use of capital. Valuation is weighed last. Sector weights fall out of these picks, so the fund can lean toward some sectors; the prospectus singles out information technology.
Holdings are watched constantly but usually changed monthly, or sooner after shocks such as wars or trade disputes. The same screens guide exits. Turnover was 55%: in a year, the fund replaced holdings worth just over half the portfolio. As of August 31, 2026, it held 41 stocks, led by Victory Capital Holdings (4.93%), Enpro (4.16%) and ePlus (3.80%). It used no derivatives, and about 92% of assets were in US companies.
What it really costs
- ALIL charges 0.74% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $76 in the first year and $918 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ALIL | $76 | $237 | $411 | $918 |
In a retirement portfolio
A concentrated, actively managed mix of 41 small-company stocks with a short record and no income fits better as a small add-on than as a portfolio's foundation.
ALIL could add a concentrated stake in small companies that Argent judges to be high quality. There is no record of how it fared in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its weakest calendar year in the prospectus was 2025, at -2.88%, when the Russell 3000 Index gained 17.15%. Its deepest drop since June 9, 2026, was 11.7%, from June 30 to October 16, and it had not recovered by October 27, 2026. Withdrawing during such a slide could lock in losses.
Income is negligible: the trailing yield was 0% as of October 27, 2026, and any payouts are scheduled twice a year. Its 0.74% expense ratio works out to $76 over one year and $918 over 10 years on $10,000 in the SEC's standard example. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a hand-picked small-company fund: 41 stocks, with the top 10 at about 36% of assets as of August 31, 2026.
- Those comfortable paying 0.74% a year for Argent's 25-factor model plus company research instead of an index's fixed rules.
- Long-term investors with a diversified core who can leave a small slice alone through drops like its 11.7% fall from June to October 2026.
Look elsewhere if
- Retirees who need regular income: the trailing yield was 0% as of October 27, 2026, with any payouts scheduled only twice a year.
- Investors wanting a long, proven record: the prospectus covers only 2023–2025, and in 2025 the fund lost 2.88% while the Russell 3000 gained 17.15%.
- Those wary of small funds: ALIL had $25.1 million in net assets as of August 31, 2026, after about $1 million in three-month outflows.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is ALIL good for retirement income?
Not for income. ALIL's trailing yield was 0% as of October 27, 2026, and any distributions are scheduled only twice a year. The fund aims for long-term capital growth by owning 41 small-company stocks (as of August 31, 2026), so returns come mainly from price changes. Those can be sharp: shares fell 11.7% from June 30 to October 16, 2026. Income would have to come from other parts of a portfolio.
How has ALIL performed vs the Russell 3000?
It has lagged. As of December 31, 2025, ALIL's average annual return since inception was 10.61%, versus 20.86% for the Russell 3000 Total Return Index, a broad US stock benchmark that includes large companies. In 2025 alone, the fund lost 2.88% while the index gained 17.15%. Earlier years were stronger: 24.77% in 2023 and 14.43% in 2024. The index reflects no fees, so part of any gap comes from the fund's costs.
What are ALIL's top holdings?
ALIL holds a focused basket of small-company stocks. As of August 31, 2026, it owned 41 stocks, and the 10 largest made up 35.94% of assets. The biggest were Victory Capital Holdings (4.93%), Enpro (4.16%), ePlus (3.80%), Medpace Holdings (3.77%) and IES Holdings (3.53%). Other top-10 names included RBC Bearings, Chefs' Warehouse and Houlihan Lokey. About 92% was in US companies, with the rest in Canada and Israel, including JFrog (3.07%). Cash was 0.53%.
What is ALIL's expense ratio?
ALIL's expense ratio is 0.74%, according to the prospectus filed September 25, 2026. The expense ratio is the annual fee taken from fund assets, and all of ALIL's is the management fee. In the SEC's standard example, $10,000 earning 5% a year would incur costs of $76 over one year, $237 over three years, $411 over five and $918 over 10, assuming the shares are cashed in at the end of each period. The fee pays for active stock picking, so it is worth comparing with index-based small-cap funds.
Is ALIL riskier than the overall stock market?
Yes, by several measures. It holds just 41 small-company stocks, which tend to swing more than shares of large companies. Its beta, a gauge of sensitivity to market moves, was 1.2 over a short period ending October 27, 2026, meaning it swung more than the market. Shares fell 11.7% from June 30 to October 16, 2026. The fund is also small, with $25.1 million in net assets as of August 31, 2026, after about $1 million in outflows over the prior three months.