Alger Russell Innovation ETF
INVN
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 100 Pearl Street New York NY United States of America 10004
- IPO Date
- Jan 7, 2025
- CIK
- 0001294924
- Website
- alger.com
- Similar Companies
- Business
- Alger Russell Innovation ETF (INVN) is a fully transparent, rules-based exchange-traded fund that tracks the performance of the Alger Russell Innovation Index, providing investors with targeted exposure to innovative companies within the Russell 1000 Index. The ETF selects the top 50 companies exhibiting high ratios of research and development (R&D) expenditures relative to enterprise value (EV), alongside other quantitative factors indicating potential undervaluation of innovation spending; these holdings are equally weighted and rebalanced quarterly, with a focus on U.S. equities across diversified sectors including software, technology, and growth-oriented industries. Launched in January 2025 through a strategic collaboration between Fred Alger Management, LLC and FTSE Russell, INVN represents Alger's expansion of its ETF suite, following the 2024 introductions of the Alger Concentrated Equity ETF (CNEQ) and Alger AI Enablers & Adopters ETF (ALAI), as well as transitions to fully transparent structures for enhanced investor accessibility. Fred Alger Management, LLC, founded in 1964 and headquartered in New York, serves as the investment manager for INVN, overseeing approximately $27.4 billion in growth equity assets and distributing the ETF via major U.S. brokerages and platforms listed on NYSE Arca. The fund targets institutional and retail investors seeking systematic innovation exposure, with a net expense ratio of 0.55% and full replication methodology to mirror the underlying index. Recent quarterly rebalancing, including updates announced in December 2025, ensures ongoing alignment with evolving market disruptors.