At a glance
ATFV charges 0.56% a year, below the 0.6% average of the 8 funds most like it (the 4th cheapest of 9). It has $198.3M in assets, the 7th largest of that group; it paid 0.18% of its price in distributions over the past 12 months, annual. Over the past year it returned +6.2% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +40.6% a year. At its worst it fell 36.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 17 months after the low. Its ten largest positions make up 61.8% of the fund, out of 35 in all.
The short version
Alger 35 ETF (ATFV) is an actively managed, non-diversified ETF that holds about 35 stocks, chosen by Alger's managers and focused on technology companies. It is concentrated. As of June 30, 2026, the top 10 holdings made up 62% of assets, led by NVIDIA, Nebius Group and Alphabet. Its 0.56% expense ratio is close to the 0.60% average for similar focused growth funds, but it trades heavily and has swung more than the broad market.
Price history
The interactive chart needs JavaScript.
ATFV +6.2% 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 | |
|---|---|---|---|---|---|---|
| ATFV official prospectus, to Dec 31, 2025 | — | +37.46% | — | — | — | +12.72% |
| ATFV price data to Oct 27, 2026 | +10.0% | +6.2% | +40.6% | +11.6% | — | +13.7% |
- Over the year to Oct 27, 2026, ATFV returned +6.2%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +11.6%.
- Its worst full calendar year was 2022 (-36.0%); its best was 2024 (+46.1%).
- The deepest fall in its price history was 45.3% (Nov 8, 2021 to Dec 28, 2022), recovered by Oct 11, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.0% | — |
| 2025 | +38.2% | +37.46% |
| 2024 | +46.1% | +46.89% |
| 2023 | +32.8% | +32.38% |
| 2022 | -36.0% | -35.90% |
| 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 | Lost 36.3% over that stretch · deepest drop along the way 36.3%, back to its old high 17.3 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.0700 | +75.0% |
| 2024 | $0.0400 | +1900.0% |
| 2023 | $0.0020 | -80.0% |
| 2022 | $0.0100 |
What's inside
As of Jun 30, 2026, the fund held 35 securities; the ten largest made up 61.84% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORP | 11.43% | |
| NEBIUS GROUP NV | 8.90% | |
| ALPHABET INC | 8.81% | |
| AMAZON.COM INC | 6.36% | |
| WESTERN DIGITAL CORP | 5.75% | |
| MICROSOFT CORP | 4.90% | |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 4.18% | |
| ASTERA LABS INC | 3.99% | |
| SPACE EXPLORATION TECHNOLOGIES CORP | 3.87% | |
| TWILIO INC | 3.65% | |
| LAM RESEARCH CORP | 2.79% | |
| GE VERNOVA INC | 2.75% | |
| TALEN ENERGY CORP | 2.40% | |
| Anthropic PBC | 2.15% | |
| QXO INC | 2.01% |
By country
United States 79.82%Netherlands 8.9%Taiwan 4.18%Denmark 1.9%Japan 1.8%By asset type
Stocks 99.22%By sector
Sectors of the companies held, for the 46.6% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $44.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.93%, +10.91%, +2.08%.
How it works
ATFV does not track an index. Alger's managers pick stocks of any size that they believe are going through positive change. That means one of two things. Some are traditional growth companies with fast-rising demand or a dominant market position, which Alger calls "high unit volume growth." Others are improving because of new regulations, a new product or new management, which Alger calls "positive lifecycle change." The fund focuses on technology companies and on companies in other industries that rely heavily on technology to grow.
The fund normally owns about 35 stocks. Because it is "non-diversified," it can put large amounts into a few companies. As of June 30, 2026, NVIDIA was 11.4% of assets, Nebius Group 8.9%, Alphabet 8.8%, Amazon 6.4% and Western Digital 5.7%. The fund can also hold privately placed securities, which have no ready market to trade in. The June 30 holdings included Anthropic PBC at 2.2%. The fund may hold up to 15% in cash at times; cash was 0.8% on that date.
The managers exit a stock when it reaches a target price, falls short of expectations or something better comes along. Portfolio turnover was 189%, which means that over a year the fund replaced roughly its whole portfolio almost twice. Trading costs from that turnover are not included in the expense ratio. The fund held no derivatives and does not use leverage or options.
What it really costs
- ATFV charges 0.56% a year, versus an average of 0.6% for the similar funds below (4th of 9, cheapest first).
- Of that, 0.45% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.21% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $57 in the first year and $921 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ATFV | $57 | $210 | $393 | $921 |
In a retirement portfolio
ATFV is a concentrated, high-turnover tech growth fund that has moved about 1.7 times as much as the market, so it fits better as a small add-on than as a foundation.
ATFV launched in May 2021, so it has no record from the 2008 or 2020 crashes. In the 2022 bear market it fell 36.3% and did not get back to its old high until March 22, 2024, about 17 months after the low. Its deepest drop was 45.3%, from November 8, 2021 to December 28, 2022, and it took until October 11, 2024 to recover. Its worst calendar year was 2022, a 35.9% loss. Anyone forced to sell shares during a stretch like that would lock in deep losses. Big gains followed: 46.89% in 2024 and 37.46% in 2025. The fund provides almost no income. Its trailing yield was 0.18% as of October 27, 2026, paid once a year. Costs come to about $57 in the first year on $10,000. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a concentrated bet on tech and AI names such as NVIDIA, Alphabet and Amazon, plus smaller holdings like Nebius Group and Astera Labs.
- People who can sit through drops like the 45.3% fall from November 2021 to December 2022 and wait almost two years to recover.
- People comparing active focused growth ETFs who want a 0.56% fee, below the 0.60% peer average, and the top three-year return in its peer group.
Look elsewhere if
- Retirees who want income: the trailing yield was 0.18% as of October 27, 2026, and the fund pays only once a year.
- Investors who want broad diversification: the fund holds about 35 stocks, and the top 10 made up 62% of assets as of June 30, 2026.
- Those who prefer a low-turnover index fund: portfolio turnover was 189%, and the holdings shift with the managers' judgment.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ATFV this fund | — | 0.56% | $198.3M | +6.2% | +40.6% |
| CNEQ Alger Concentrated Equity ETF | 54% | 0.55% | $731.5M | +8.3% | — |
| ALAI Alger AI Enablers & Adopters ETF | 48% | 0.55% | $451.2M | +15.5% | — |
| FFOG Franklin Focused Growth ETF FOCUSED GROWTH … | 43% | 0.55% | $311.7M | -0.4% | — |
| PJFG PGIM Jennison Focused Growth ETF | 40% | 0.75% | $140.3M | +3.6% | +25.2% |
| PGRO Putnam Focused Large Cap Growth ETF | 38% | 0.56% | $212.1M | +3.1% | +24.6% |
| HFGO Hartford Large Cap Growth ETF | 36% | 0.59% | $200.9M | +2.5% | +27.0% |
| NUGO Nuveen Growth Opportunities ETF | 35% | 0.56% | $2.44B | +4.6% | +25.6% |
Questions investors ask
What does ATFV invest in?
ATFV invests in about 35 stocks that Alger's managers believe are going through positive change, with a focus on technology companies. As of June 30, 2026, its largest holdings were NVIDIA (11.4%), Nebius Group (8.9%), Alphabet (8.8%), Amazon (6.4%), Western Digital (5.7%) and Microsoft (4.9%). The top 10 made up 62% of assets. About 80% was in US companies, and the fund also held Taiwan Semiconductor and a stake in Anthropic PBC.
How has ATFV performed?
ATFV's returns have been strong but uneven. Its prospectus shows a 35.9% loss in 2022, followed by gains of 32.38% in 2023, 46.89% in 2024 and 37.46% in 2025. Its average annual return from its May 2021 launch through December 31, 2025 was 12.72%. Based on price as of October 27, 2026, it returned 6.2% over one year and 40.6% a year over three years. That three-year figure ranked first among the five funds in its peer group with a three-year record.
What is ATFV's expense ratio?
ATFV's expense ratio is 0.56%, according to its prospectus filed April 28, 2026. That figure includes a 0.45% management fee and reflects a 0.21% fee waiver from Alger. It ranks 4th lowest of 9 similar funds, which average 0.60%. Under the SEC's standard example ($10,000 invested, 5% annual return), costs would be about $57 after one year, $210 after three years, $393 after five and $921 after ten.
What's the difference between ATFV and CNEQ?
ATFV and CNEQ (Alger Concentrated Equity ETF) are both concentrated Alger ETFs, and 54% of their holdings overlapped in their latest N-PORT reports. CNEQ costs 0.55% a year, compared with ATFV's 0.56%. CNEQ is much larger, with $731.5 million in net assets versus about $198.3 million for ATFV as of June 30, 2026. Over one year to October 27, 2026, CNEQ returned 8.3% and ATFV returned 6.2%.
Does ATFV pay dividends?
Yes, but only a small amount, paid once a year. Over the 12 months to October 27, 2026, ATFV paid about $0.07 per share, a trailing yield of 0.18%. That low payout reflects the fund's focus on growth companies, which tend to reinvest profits instead of paying them out. The fund's stated objective is long-term capital appreciation, not income, so investors looking for regular cash payments will get little from it.