FTC Solar, Inc.
Financials · Asset Management & Custody Banks
Structural: rules-based large-cap growth wrapper with a quantitative tilt away from cap-weighting toward fundamental momentum + value-adjusted screens. Quintile-weighting suppresses single-name concentration (top 10 ~11% vs. 50%+ in cap-weighted growth ETFs), and the AlphaDEX methodology forces quarterly rebalances that capture factor rotation inside the growth complex.
- Top holdings ($COHR, $VRT, $GOOGL) anchor the fund to AI-compute beneficiaries that QA bubbles already track structurally
- 0.58% fee is high vs. $VUG/$IWF (4-5 bps) but justified if AlphaDEX screens outperform cap-weighted growth net of fees
- Equal-quintile weighting reduces mega-cap dispersion risk if a $NVDA-class name corrects
- Quarterly rebalance forces discipline - sells winners, buys factor-improving names
- 0.58% expense ratio is a structural drag - $VUG (4 bps) and $IWF (18 bps) compound the gap over multi-year holds
- Underweighting mega-caps means underperformance in narrow rallies led by $NVDA/$MSFT/$META/$AAPL
- Factor screens (growth + value) can whipsaw at regime turns; backtests show lag vs. cap-weighted growth in 2020-2023
- $1.27B AUM is mid-tier - wider bid-ask + lower liquidity than $VUG/$IWF for size
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