(ACES) ALPS Clean Energy - Ratings and Ratios

ALPS Clean Energy ETF (NYSE ARCA:ACES) is an investment vehicle that tracks the CIBC Atlas Clean Energy Index, providing exposure to a diversified portfolio of U.S. and Canadian companies operating in the clean energy and clean technology sectors.

The funds underlying index is constructed using a rules-based methodology developed by CIBC National Trust Company, ensuring a systematic approach to capturing the performance of companies in this space. With at least 80% of its net assets invested in securities comprising the index, ACES offers a focused investment strategy, albeit with a non-diversified profile.

From a technical standpoint, ACES has demonstrated a recent uptrend, with its last price of $26.50 exceeding both its 20-day and 50-day simple moving averages (SMA20: $23.56, SMA50: $23.07). However, it is trading below its 52-week high of $31.98 and slightly above its 200-day simple moving average (SMA200: $26.12), indicating some potential resistance at higher levels. The average true range (ATR) of 0.83, or 3.14%, suggests moderate volatility.

Fundamentally, ACES has a relatively modest assets under management (AUM) of $90.23M USD, which may impact its liquidity and trading costs. Nonetheless, the ETFs focus on the clean energy sector positions it for potential growth, given the increasing demand for renewable energy and clean technologies.

Forecasting future performance, we can anticipate that ACES will continue to be influenced by trends in the clean energy sector. If the underlying index constituents continue to perform well, driven by growing adoption of clean energy technologies, ACES may push towards its 52-week high. Conversely, if the sector experiences a downturn, ACES may revisit its SMA200 or even lower. Based on the current technical and fundamental data, a potential target for ACES could be $28.50, representing a 7.5% increase from its current price, assuming the clean energy sector continues to attract investment and the ETF maintains its current AUM.