The Investor's Business Daily IBD 50 is a popular watchlist used by many to pick stocks with bullish
momentum. It has been made into an actively managed ETF
by Innovator Funds as AMEX:FFTY
. This chart compares how the ETF
is performing vs. AMEX:SPY
YTD. On a quick visual glance, it seems to basically track S&P
with higher beta, eyeballing this at maybe 1.25 Beta, slightly higher highs and lower lows, as would be expected by momentum plays. Qualitatively speaking, it seems not to definitively exhibit alpha - at least in 2018 YTD - only higher beta.