When markets get tricky, you need horsepower. VanEck's ALFA has it

LiveWire11-20

Please note, this interview was filmed Thursday, 6 November 2025 The recent bout of market volatility is precisely why I've always liked long/short strategies. Executed well, they allow you to ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2584977055?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-11-20 09:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2584977055","market":"us","top_or_hot":-1,"title":"When markets get tricky, you need horsepower. VanEck's ALFA has it","media":"LiveWire","content":"<div>\n<p>Please note, this interview was filmed Thursday, 6 November 2025\nThe recent bout of market volatility is precisely why I've always liked long/short strategies. Executed well, they allow you to ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/when-markets-get-tricky-you-need-horsepower-vaneck-s-alfa-has-it\">Source Link</a>\n\n</div>\n","source":"livewire_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>When markets get tricky, you need horsepower. VanEck's ALFA has it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhen markets get tricky, you need horsepower. VanEck's ALFA has it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-20 09:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.livewiremarkets.com/wires/when-markets-get-tricky-you-need-horsepower-vaneck-s-alfa-has-it><strong>LiveWire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Please note, this interview was filmed Thursday, 6 November 2025\nThe recent bout of market volatility is precisely why I've always liked long/short strategies. Executed well, they allow you to ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/when-markets-get-tricky-you-need-horsepower-vaneck-s-alfa-has-it\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XKO.AU","symbol_name":"标普/澳交所 300指数","start_time":0,"source_url":"https://www.livewiremarkets.com/wires/when-markets-get-tricky-you-need-horsepower-vaneck-s-alfa-has-it","article_id":"2584977055","we_media_id":null,"thumbnails":[],"rights":{"source":"livewire_stock","url":"https://www.livewiremarkets.com/wires/when-markets-get-tricky-you-need-horsepower-vaneck-s-alfa-has-it","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2584977055","pubTimestamp":1763601249,"columns":[],"sourceInfo":{"source_id":"livewire_stock","name":"Livewire Markets"},"weMediaInfo":null,"summary":"Please note, this interview was filmed Thursday, 6 November 2025. The recent bout of market volatility is precisely why I've always liked long/short strategies. Executed well, they allow you to participate in most of the upside when it occurs, whilst also protecting you from the worst of the downside when it inevitably arrives.So, in a market crowded with ETFs of every flavour, when VanEck launched its Australian Long/Short Complex ETF , it immediately landed on my radar.Part of the appeal is the simple fact that long/short strategies are not easy to implement. They require both conviction and discipline. But what really intrigued me, and what ultimately forms the backbone of ALFA, is the way VanEck have blended quantitative horsepower with a fundamental framework - both of which continuously evolve. This isn’t a “set and forget” rulebook. It’s a living, learning engine running thousands of signals, hunting for mispricing across every corner of the ASX.McCormack frames the backdrop: th","collect":0,"end_time":0,"defaultTopTitle":"livewiremarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"XKO.AU":"标普/澳交所 300指数","BK7503":"科技股","APE.AU":"Eagers Automotive Ltd","BK7511":"ESG概念","BK7143":"汽车零售","MVW.AU":"VANECK AUSTRALIAN EQUAL WEIG","ALFA.AU":"VanEck Australian Long Short Complex ETF","QUAL":"iShares MSCI USA Quality Factor ETF","ALFA":"Alphaclone Alternative Alpha ETF","BK7016":"应用软件","BK4550":"红杉资本持仓","BK4588":"碎股","BK7067":"生物科技","BK7501":"新冠治疗股","CSL.AU":"CSL LIMITED","FDN":"First Trust Dow Jones Internet I","XAO.AU":"标普/澳交所 普通股指数","QUAL.AU":"VANECK MSCI INTERNATIONAL QU","BK4585":"ETF&股票定投概念","TNE.AU":"TECHNOLOGY ONE LTD","XJO.AU":"标普/澳交所 200指数","BK7508":"医药生物股"},"translate_title":"当市场变得棘手时，你需要马力。VanEck的阿尔法拥有它","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XJO.AU":0.9,"FDN":0.9,"APE.AU":1,"MVW.AU":1,"XKO.AU":0.9,"ALFA.AU":1,"CSL.AU":1,"TNE.AU":1,"QUAL":1,"ALFA":1,"XAO.AU":0.9,"QUAL.AU":1},"content_text":"Please note, this interview was filmed Thursday, 6 November 2025\nThe recent bout of market volatility is precisely why I've always liked long/short strategies. Executed well, they allow you to participate in most of the upside when it occurs, whilst also protecting you from the worst of the downside when it inevitably arrives. \nSo, in a market crowded with ETFs of every flavour, when VanEck launched its Australian Long/Short Complex ETF (ALFA), it immediately landed on my radar. \nPart of the appeal is the simple fact that long/short strategies are not easy to implement. They require both conviction and discipline. But what really intrigued me, and what ultimately forms the backbone of ALFA, is the way VanEck have blended quantitative horsepower with a fundamental framework - both of which continuously evolve. This isn’t a “set and forget” rulebook. It’s a living, learning engine running thousands of signals, hunting for mispricing across every corner of the ASX.\nAs Chesler puts it: \n“Our quant platform runs thousands of these signals… updating the information constantly and really that’s how we stay ahead of the curve. \nIt can really adapt instantly, or very quickly, to changes in the market environment.”\nThat line captures why ALFA stands out. The market is moving fast, from macro shifts to sector rotations to the micro nuances of cashflow quality, and a strategy that adapts that quickly is, at the very least, worth understanding.\nSo in this conversation with Russel Chesler, Jamie Hannah,  and Cameron McCormack, we go beyond the buzzwords and pull apart the machinery behind ALFA: how it works, what it owns (and has been shorting), the environment it’s operating in, and the signals driving the ETF’s strongest calls so far. Whether you’re long/short-curious or just want a fresh lens on the Australian equity market, this one won’t disappoint.\n\n\n\n\n\n\n\n\n\n\nLivewire's Chris Conway interviewing VanEck's (L-R): Cameron McCormack, Russel Chesler, and Jamie Hannah\n\nINTERVIEW SUMMARY\nSetting the scene\nVanEck’s ALFA ETF marks the firm’s push into systematic long/short investing on the ASX. Hannah describes it as “an Australian equity long short fund… utilising some of the world’s most advanced computing power,” blending regenerative learning with VanEck’s smart beta heritage. \nUnlike a plain-vanilla index ETF, ALFA actively ranks ASX companies and uses leverage - 130% long, 30% short - to capture upside while exploiting opportunities on the short side.\nChesler highlights VanEck’s DNA in quantitative design. The smart beta groundwork laid through products like the VanEck Australian Equal Weight ETF (MVW) and the VanEck MSCI International Quality ETF (QUAL) provides the foundation for ALFA’s signal-driven architecture.\nMarket environment and the case for long/short\nMcCormack frames the backdrop: the ASX 200 is up nearly 13% over 12 months (at the time of recording), large caps look stretched, and dispersion across sectors is extreme: almost 50% from top to bottom. \nWith valuations elevated and small caps littered with “junkier” names, McCormack argues the current environment rewards selectivity and punishes complacency. A systematic long/short strategy is well placed to exploit these divergences.\nHow the engine works\nALFA’s signal platform spans three major baskets:\n\n\nCompany and industry fundamentals: From return on equity to sector-specific metrics like inventory levels for retailers or passenger flows for airlines.\n\nTechnicals and pair trading: Examining price momentum, divergences between related sectors, and behavioural patterns across the index.\n\nMacro signals: Shifts in growth, inflation, services inflation, goods inflation, and conditions that favour either quality or small caps.\n\n\nEach ASX 300 stock is ranked based on the scores it receives from the analytical process. High scorers become longs; the lowest become shorts. As Chesler explains, this process is continuous, adaptive, and deeply data-driven.\nPortfolio construction and risk controls\nALFA typically holds 15–50 longs and up to 25 shorts. At the time of filming, it held 18 longs and 15 shorts. \nRisk limits apply at both the stock and sector level, and the short book has a dedicated stop-loss protocol. The structural leverage comes from the 130/30 model, where the ETF buys $130 of stock for every $100 invested, funded by shorting $30 of shares.\nPerformance and the signals behind it\nSince launching in January, ALFA has returned 12.3% to end-October, beating the ASX 200 Accumulation Index by 3.5%. Hannah credits consistent overweights in gold miners, industrials and selective consumer discretionary names, all supported by fundamental and technical signals.\nMcCormack expands on the drivers: improving free cashflow margins; resilient macro data (GDP and retail sales ticking up) for the longs; and deteriorating cashflows and rising leverage among short candidates. These factors have materially influenced both sides of the book.\nStock examples: winners and shorts\nThe discussion becomes most compelling when the team drill into specific names.\nTechnology One (ASX: TNE) (long):\n\n\n\n\n\n\n\n\n\n\nTNE 1-year price chart. Source: Market Index\n\nHannah calls it “a standout performer in the first half of the year.” \nThe company delivered first-half profit growth of 33%, expanding cashflow margins while increasing sales. Low debt, strong momentum and entrenched software across universities and councils made it an ideal long candidate.\nCSL Limited (ASX: CSL) (short):\n\n\n\n\n\n\n\n\n\n\nCSL 1-year price chart. Source: Market Index\n\nMcCormack outlines why CSL has struggled: \n\n“A persistent deterioration in enterprise value relative to their cashflow and also sales growth.” \nDespite appearing “cheap” on some metrics, headline growth has softened, the China vaccine spinoff has created uncertainty, and R&D spend hasn’t translated into sales momentum. ALFA entered the short in July and benefited from two major share price drops, including the largest since 1999.\nEagers Automotive (ASX: APE) (long):\n\n\n\n\n\n\n\n\n\n\nAPE 1-year price chart. Source: Market Index\n\nChesler highlights this as the top performer, doubling since July. Revenue rose 19% at the half-year, with strong earnings stability and momentum aided by partnerships with BYD and Mitsubishi. Its EV distribution footprint - 31% of EVs sold in Australia - and improving household financial conditions offer further upside.\nRole in a portfolio\nALFA’s unconstrained, systemic, style-agnostic nature makes it a complementary satellite to a traditional long-only equity allocation. Chesler describes it as flexible by design, capable of participating in a variety of market cycles.\nAs the panel looks toward 2026, Hannah sums up ALFA’s objective: \n“Alpha aims to harvest outperformance in all market conditions.”\n\n\n\n\nNever miss an update\n\n    Enjoy this wire? Hit the ‘like’ button to let us know. \n    Stay up to date with my current content by \n    following me below and you’ll be notified every time I post a wire","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.10","shortVersion":"4.35.10","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2584977055","isCrawlerRequest":true}