ALPS

What ALPS does

ALPS (ALPS Advisors / ALPS ETF Trust) is a Denver-based investment management company founded in 1985 and operating with 501-1,000 employees as a subsidiary of SS&C Technologies (NASDAQ: SSNC). The firm manages a diversified suite of more than 10 exchange-traded funds listed on NYSE Arca spanning sector, thematic, and fixed-income strategies, including the Alerian MLP ETF (AMLP), ALPS Electrification Infrastructure ETF (ELFY), ALPS Clean Energy ETF (ACES), ALPS Medical Breakthroughs ETF (SBIO), ALPS CoreCommodity Natural Resources ETF (CCNR), ALPS International Sector Dividend Dogs ETF (IDOG), ALPS Smith Core Plus Bond ETF (SMTH), ALPS O'Shares US Quality Dividend ETF (OUSA), ALPS Intermediate Municipal Bond ETF (MNBD), Barron's 400 ETF (BFOR), and the recently launched ALPS Nautilus SMR and Nuclear & Technology ETF (SMRF). These products serve institutional asset managers, registered investment advisors, family offices, and retail investors seeking specialized thematic, income, sector, and fixed-income exposures through a transparent, exchange-traded wrapper.

ALPS's core technology centers on rule-based, transparent indexing strategies—predominantly equal-weighted sector approaches that screen for yield, quality, or thematic exposure—and on partnerships with third-party index providers such as Alerian, Ladenburg Thalmann, CIBC Atlas, and Barron's that define investable universes for flagship products. The firm generates revenue through two primary streams: ETF management fees assessed on assets under management at expense ratios ranging from 0.27% (ELFY) to 1.01% (AMLP), and distribution services fees earned by ALPS Distributors when providing at-the-market (ATM) distribution infrastructure and a regulated broker-dealer framework to third-party fund issuers such as abrdn. Distribution occurs predominantly through public exchange listings (NYSE Arca), institutional and RIA sales channels, and a B2B distribution platform that extends ALPS's regulatory and operational infrastructure to external asset managers.

The company's commercial posture is hybrid: enterprise field sales to advisors and institutional allocators are paired with product-led growth via thematic ETF launches tied to structural themes (electrification, nuclear renaissance, clean energy, biotech breakthroughs) and channel-partner relationships through ALPS Distributors. End-investor access is highly distributed via the exchange-traded wrapper, while the distribution-services business creates a smaller but higher-margin B2B revenue stream. ALPS operates as a private subsidiary within SS&C Technologies, benefiting from shared back-office, fund administration, and technology infrastructure while retaining autonomous product development and portfolio management.

Name

ALPS

Legal name

ALPS Advisors

Website

https://alpsinc.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ALPS is a Denver-based investment management subsidiary of SS&C Technologies that manages a diversified suite of more than 10 thematic, sector, and fixed-income ETFs listed on NYSE Arca, serving institutional, advisor, and retail investors through rule-based indexing strategies and a third-party distribution platform.

Ownership category

akta.pro rank

Product category

Exchange-Traded Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector & Industry Equity ETFs (FSAAAFAC)

akta.pro secondary industries

Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH), Multi-Asset & Allocation ETFs (Balanced, Target Risk) (FSAAAFAF)

Keywords

• Exchange-traded funds
• Thematic ETF management
• Asset servicing
• ETF distribution services
• Investment management

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. ETF Management Fees: ALPS generates revenue through expense ratios charged on assets under management across its ETF suite. Fees range from 0.27% to 1.01% annually depending on the fund. Higher expense ratios like AMLP's 1.01% generate more revenue per dollar of AUM but may face investor sensitivity.
2. Distribution Services: ALPS Distributors provides at-the-market (ATM) distribution services for third-party fund issuers, enabling them to sell shares through regulated transactions. ALPS earns fees for providing this distribution infrastructure and regulatory compliance framework.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

ALPS Advisors, Inc. manages a suite of sector-specific and thematic exchange-traded funds (ETFs) listed on NYSE Arca and provides at-the-market (ATM) distribution and servicing infrastructure for third-party fund issuers. The firm runs products spanning MLPs/infrastructure, dividend-dogs (domestic and international), clean energy, small-cap core, quality dividends, the Barron's 400, and supply-chain themes, while also acting as a sub-administrator and distribution agent for partner issuers.

Product overview

ALPS (ALPS ETF Trust / ALPS Advisors) is a provider of exchange-traded funds operating as part of SS&C Technologies. The company offers a diversified portfolio of ETFs spanning multiple sectors and asset classes, including the ALPS Medical Breakthroughs ETF (SBIO), ALPS CoreCommodity Natural Resources ETF (CCNR), ALPS International Sector Dividend Dogs ETF (IDOG), ALPS Electrification Infrastructure ETF (ELFY), ALPS Clean Energy ETF (ACES), Alerian MLP ETF (AMLP), ALPS Smith Core Plus Bond ETF (SMTH), ALPS O'Shares US Quality Dividend ETF (OUSA), ALPS Intermediate Municipal Bond ETF (MNBD), and Barron's 400 ETF (BFOR). These funds cover healthcare innovation, commodities, international dividends, electrification infrastructure, clean energy, energy infrastructure, bonds, quality dividends, and municipal bonds. The products utilize various strategies including rule-based equal weighting, sector rotation, and factor-based approaches.

Differentiator

Problem solved

Functional benefit

Products and services

• Alerian MLP ETF (AMLP) AMLP tracks the Alerian MLP Infrastructure Index and is designed to provide investors exposure to energy infrastructure master limited partnerships. Targeted at income-oriented investors and advisors seeking MLP access in a fund-of-funds ETF wrapper.
• ALPS Emerging Sector Dividend Dogs ETF (ELFY) ELFY uses an equal-weighted, dividend-dogs selection methodology focused on emerging-markets sectors. Designed for advisors and investors seeking higher-yielding emerging-markets sector exposure through transparent, rules-based indexing.
• ALPS Smith Small Cap ETF (SMTH) SMTH is a small-cap core ETF distributed by ALPS through its channel partners, designed for advisors and institutional buyers seeking exposure to U.S. small-cap equities.
• ALPS International Sector Dividend Dogs ETF (IDOG) IDOG applies an equal-weighted, top-yield-picking strategy across international sectors to identify the highest-yielding non-U.S. equities. Targeted at advisors and investors seeking international income exposure via transparent sector indexing.
• ALPS Clean Energy ETF (ACES) ACES provides thematic exposure to U.S. and Canadian clean-energy companies across solar, wind, hydro, and other renewable sub-sectors. Built for advisors and institutional investors building thematic clean-energy allocations.
• ALPS O'Shares US Quality Dividend ETF (OUSA) OUSA tracks the O'Shares U.S. Quality Dividend Index, applying quality screens on top of dividend-yield selection for U.S. large-cap equities. Designed for advisors and income-oriented investors seeking quality U.S. dividend exposure.
• Barron's 400 ETF (BFOR) BFOR tracks the Barron's 400 Index, a rules-based selection of the 400 highest-prospect U.S. companies identified by the publication. Targeted at advisors and institutional investors seeking a fundamentals-screened U.S. equity exposure.
• ALPS Smart Supply Chain ETF (SMRF) SMRF provides thematic exposure to companies across the supply-chain ecosystem, including DoE-related infrastructure themes. Designed for advisors and investors seeking targeted supply-chain and infrastructure equity exposure.
• CIBC Atlas-branded ETF Servicing ALPS provides ETF sub-administration, accounting, and distribution services for third-party fund issuers such as CIBC Atlas. Targeted at asset managers launching ETFs who require a turnkey operational and distribution infrastructure.
• ALPS Distribution Services ALPS Distributors provides at-the-market (ATM) distribution, wholesaling, and shareholder-servicing infrastructure to third-party fund issuers such as abrdn. The platform supports ETF launches with field-sales, RIA, and institutional channel coverage.

Quantifiable outcome

• ALPS Medical Breakthroughs ETF (SBIO) gained just over 57% through December 2025, topping all ALPS products for the year
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core, supporting and flagship.

• Barron'scoreTechnology or Integration · 1 July 2026Barron's 400 Index serves as the underlying index for the Barron's 400 ETF (BFOR), an ALPS-managed fund. The fund underwent a 4-for-1 share split effective July 1, 2026.
• Ladenburg ThalmanncoreTechnology or IntegrationLadenburg Thalmann provides the index methodology for the ALPS Electrification Infrastructure ETF (ELFY). The ETF tracks the Ladenburg Thalmann Electrification Infrastructure Index, which defines the investment universe of large- and midcap companies benefiting from electrification infrastructure buildout.
• CIBC Atlas Clean Energy IndexcoreTechnology or IntegrationThe ALPS Clean Energy ETF (ACES) seeks investment results aligned with the CIBC Atlas Clean Energy Index, focusing on U.S. and Canadian companies in the clean energy sector.
• AleriancoreTechnology or IntegrationAlerian provides the index methodology for the Alerian MLP ETF (AMLP), which ALPS Funds manages. AMLP offers exposure to energy midstream MLPs with a 7.8% dividend yield.
• McKinsey & CompanysupportingStrategic or Co-development PartnerALPS cites McKinsey research on global electricity demand growth (approximately 4% in 2024, approaching 30,000 TWh threshold) to support the investment thesis for the electrification infrastructure theme.
• Department of EnergysupportingStrategic or Co-development PartnerALPS references Department of Energy projections that U.S. nuclear capacity could scale from roughly 100 gigawatts in 2023 to approximately 300 gigawatts by 2050, informing nuclear-related ETF investment strategies.
• SMRF ETF (ALPS Nautilus SMR)coreStrategic or Co-development PartnerALPS launched the ALPS Nautilus SMR and Nuclear & Technology ETF (SMRF) in February 2026 to capture the nuclear renaissance driven by AI power demands and clean energy transition goals.
• abrdncoreChannel Partner/ Reseller/ Distributorabrdn Global Premier Properties Fund announced an amended distribution agreement with ALPS Distributors, enabling it to sell up to $55 million of shares through at-the-market (ATM) transactions.
• SS&C TechnologiesflagshipStrategic or Co-development PartnerSS&C Technologies is the parent company of ALPS Advisors and ALPS Distributors. SS&C is the world's largest independent hedge fund and private equity administrator with $45 trillion+ in assets run on its technology platform, serving 23,000 clients with 29,000 employees globally.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• First Trust Advisors: First Trust is a closely held ETF sponsor offering thematic, sector and income ETFs (e.g., FDL, FXD, FIDU) that directly compete with ALPS's sector and yield-focused funds like IDOG, ACES and AMLP.
• Global X Management: Global X is a thematic ETF specialist with funds like LIT, TAN and HYDR that compete directly with ALPS's ELFY and ACES, both targeting electrification, clean energy and infrastructure megatrends.
• VanEck: VanEck is a thematic and sector-focused ETF issuer with comparable product families in commodities, nuclear/uranium and emerging themes, making it a direct competitor to ALPS's CCRN and SMRF funds.
• WisdomTree Investments: WisdomTree is a thematic/dividend-focused ETF sponsor with strong international and quality dividend franchises, closely paralleling ALPS's IDOG, OUSA and dividend-style strategies.
• ProShares: ProShares focuses on thematic, leveraged and alternative ETFs; its sector and alternative product lines overlap with ALPS's higher-fee, thematic-oriented offerings.

Broad incumbents

• Invesco (Invesco QQQ / Invesco ETFs): Invesco is a large incumbent ETF issuer (QQQ, many sector/thematic funds) with greater scale and broader product shelf that competes in many of the same sector and thematic categories as ALPS.
• BlackRock (iShares): BlackRock's iShares is the dominant global ETF franchise with extensive thematic and sector offerings; as the price- and scale-leader, iShares sets competitive pressure on smaller thematic issuers like ALPS.
• State Street (SPDR): State Street Global Advisors' SPDR franchise is a broad incumbent with sector ETFs (XLK, XLF, etc.) that compete head-to-head with ALPS's sector and quality dividend products.

Emerging players

• Direxion Funds: Direxion is a specialist in thematic and leveraged ETFs that competes in niche sector categories similar to where ALPS operates, but with a more concentrated, higher-fee product mix.

Others

• Foreside Fund Services (acquired by BNY Mellon/others): Foreside is a third-party ETF distributor/compliance services firm that competes with ALPS Distributors in providing at-the-market and intermediary distribution services to third-party fund issuers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALPS