The ALPS Hillman Active Value ETF (HVAL) is managed by Hillman Capital Management, Inc., the Fund's sub-adviser. HCM employs a unique investment strategy, seeking out U.S. companies with competitive advantages that have temporarily fallen out of favor for non-recurring or short-term reasons. These companies typically have a market capitalization exceeding $3 billion and exhibit strong qualitative characteristics such as industry dominance, skilled management, pricing power, barriers to competition, brand loyalty, financial flexibility, and high-quality products and services. HCM also considers quantitative measures like present value of discounted projected cash flows, price-to-book ratio, and price-to-sales ratio when selecting approximately 45 equally weighted stocks for the fund's portfolio. This approach aims to identify undervalued stocks with strong growth potential.
The ALPS Hillman Active Value ETF focuses on investing primarily in common stocks of U.S. companies that have temporarily fallen out of favor for reasons considered non-recurring or short-term, as determined by Hillman Capital Management, Inc., the fund's sub-adviser. These companies are selected based on a proprietary Qualified Investment Universe (QIU) maintained by HCM, which assesses qualitative characteristics such as industry dominance, management prowess, financial flexibility, and more. While dividend distributions are not the primary objective, they may occur based on the individual dividend policies and performances of the selected companies within the portfolio. HVAL typically holds around 45 equally weighted stocks and rebalances the portfolio as needed to maintain each holding's target weight. Investors in HVAL may potentially benefit from both capital appreciation and some level of dividend returns as the fund seeks out undervalued opportunities in the market.
The HVAL ETF, managed by Hillman Capital Management, Inc., focuses on tracking a unique investment strategy. The fund primarily invests in U.S. companies that HCM believes have competitive advantages and have temporarily fallen out of favor for non-recurring or short-term reasons. HCM uses a proprietary Qualified Investment Universe (QIU) to identify companies with qualitative characteristics such as industry dominance, management prowess, and financial flexibility, among others. Additionally, quantitative measures like discounted projected cash flows, price-to-book ratio, and price-to-sales ratio are employed to rank eligible companies. With a portfolio of approximately 45 equally weighted stocks from the top-ranked candidates, HVAL aims to capture value from undervalued companies while actively rebalancing holdings as needed.
The correlation aspect of the ALPS Hillman Active Value ETF (HVAL) is integral to understanding its performance in relation to the broader U.S. equity market. Given HVAL's focus on investing in undervalued U.S. companies with competitive advantages, its correlation with the overall market can vary depending on the market's perception of value stocks. Investors often use HVAL's correlation with indices like the S&P 500 to assess its effectiveness as a value-oriented investment. To delve deeper into HVAL's correlations and better understand its market behavior, you can utilize ETF Insider's web app, which provides comprehensive data and visualizations, helping you identify correlations and overlaps with various assets and sectors.
The ALPS Hillman Active Value ETF (HVAL) focuses on investing in U.S. companies that have competitive advantages and are temporarily undervalued due to non-recurring or short-term factors. The fund primarily targets companies with market capitalizations exceeding $3 billion that exhibit qualitative measures such as dominance in their respective industries, strong management, pricing power, and limited competition. Additionally, quantitative measures like discounted cash flows, price-to-book ratio, and price-to-sales ratio are considered in stock selection. HVAL typically holds approximately 45 equally weighted stocks from its eligible universe, providing investors with an opportunity to access undervalued companies with growth potential.
The HVAL ETF, managed by Hillman Capital Management, focuses on U.S. companies with strong competitive advantages and temporary undervaluations. It utilizes a mix of qualitative measures like industry dominance and brand loyalty, and quantitative metrics such as cash flow projections and valuation ratios, to build a portfolio of approximately 45 equally weighted stocks. The strategy aims for companies expected to recover from short-term challenges, offering a unique blend of value and quality investment opportunities.
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