Alaris has a lot of exposure to small and medium sized businesses in the United States. It does have exposure to Canada as well but the bulk will be US operated companies. What it does is lends these companies money and in return it receives a distribution from those companies. This is why the company pays such a high yield.
In terms of whether it is good for a small cap rally, the company is approaching a price that I would believe is "fair" value, that being in the $20.50-$21 range. This was added to the Bull List as a value option as I felt there was a large disconnect between the quality of the company and its stock price. That value gap has closed and although I feel the company is still slightly discounted here, it's not as large as it once was.
If the company hits that $20.50-$21 target, I am likely to keep it on the Bull List but likely modify the thesis to be primarily structured around it being a fair-valued company that pays a relatively solid distribution.
If you're looking to grab some broad based US exposure on a small or mid cap rally, I would look to a Russell 2000 ETF. It will be difficult to find one of these in Canada, but the US has plenty of them trading in USD like IWM.
Or, are you looking for individual exposure to US small and mid caps?