ATFV vs GUSE

ATFVCAlger 35 ETF

GUSEAGoldman Sachs Enhanced U.S. Equity ETF

In short

ATFV Alger's best-ideas book: roughly 35 high-conviction growth names, and one of the few ETFs that keeps its holdings confidential, pricing off a verified value published every second instead. The 35 is a memorial to colleagues lost on 9/11.

GUSE Goldman's fundamental stock pickers hunting long-term growth in US companies, for 0.30% a year. The strategy dates to 2008 and charges well under the typical active US growth fund.

Stated mandate

ATFV The fund seeks long-term capital appreciation through an actively managed portfolio of approximately 35 stocks selected as the manager’s best ideas in highly disrupted market segments.

GUSE The Fund seeks long-term growth of capital by investing in companies that the Investment Adviser believes are positioned for long-term growth.

Why people hold it

• ATFV Real conviction, not closet indexing. About 40 holdings of any market cap, chosen as the firm's best ideas in the most disrupted segments of the market, with a documented tilt toward technology.alger.comsec.gov
• 0.56% net of a waiver through December 31, 2027 (0.77% gross), which lands near the category median. Modest pricing for a concentrated, non-transparent active mandate, and the fund has grown into the multi-billion-dollar tier.
• The confidential-account structure lets the manager build and exit positions without the market reading over its shoulder. SEC staff note most active ETFs disclose holdings daily; this one does not.sec.govsec.gov 2
• The 35-stock count is deliberate: Alger named the fund for the 35 colleagues the firm lost in the September 11 attacks.alger.com

• GUSE Charges 0.30% a year, against a 0.54% median for its active US growth cohort. Cheap, for stock picking.
• Actively run with no index to shadow. Managers hold companies they judge positioned for long-term growth, so the portfolio can look different from a large-cap benchmark.
• Inception dates to 2008, so the strategy has run through multiple market cycles, not one long rally.
• One of the stronger implementations in a crowded field of active US growth funds.

Worth knowing

• ATFV No daily holdings list. You trade against a per-second indicative value, and Alger's own disclosure warns shares may carry wider bid/ask spreads than fully transparent ETFs, especially in volatile markets.alger.comsec.gov
• Non-diversified by design, so one position can move results far more than in a broad index fund, and the technology focus concentrates the ride further.sec.govsec.gov 2
• That 0.56% rate leans on a waiver through December 31, 2027; gross is 0.77%. Top-scoring peers such as JUSA and FELG charge 0.18%, so you are paying up for the stock picking.

• GUSE Trades thinly next to the category's heavyweights. Spreads can be wider, which bites most on large or hurried orders.
• Two peers in the same top tier undercut it on fee: JUSA at 0.12% and FELG at 0.18%. Price is not where this one stands out.
• Distributions land once or twice a year, not monthly. Growth of capital is the stated goal, not an income stream.

Full ATFV profile⁠

Full GUSE profile⁠