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Quality Growth ETF QGRO Hits $1 Billion in AUM

BY | ETF Database

11/12/2024 | 64 VIEWS

Related Symbols
QGRO

The ETF universe has gained yet another $1 billion AUM member, with QGRO the latest to join the club. The American Century U.S. Quality Growth ETF QGRO passed $1 billion last week per YCharts data. That milestone comes after the ETF entered 2024 at just about $670 million in AUM. With a month and a half left in the year, the quality growth ETF could be set for more.See more: Could Midcaps Be the Real End of 2024 Play? Launched in 2018, QGRO charges a 29 basis point (bps) fee for its services. The fund tracks the American Century U.S. Quality Growth Index, looking for firms with high growth potential based on metrics like sales, cash flow and return on assets. It looks to mix high-growth stocks and “stable growth” names with both appealing profitability and valuations. “We are thrilled that QGRO has officially reached the $1 Billion AUM milestone!,” said American Century Investments Vice President and Head of Portfolio Solutions Rene Casis. “This incredible achievement is a testament to our unwavering dedication to providing solutions that help clients build portfolios to meet their objectives,” he added. “We are deeply honored by the trust our clients have in us, and we remain committed to delivering excellence and innovation in all that we do.”Quality Growth ETF QGRO's OutlookThe quality growth ETF has returned 40% over the last one year period per American Century Investments data. That has outperformed both its ETF Database Category and Factset Segment averages, per VettaFi data. Looking ahead, the fund could appeal with its quality growth view potentially able to take advantage of further rate cuts. Its use of the ETF wrapper, meanwhile, also makes it a more tax efficient alternative to equity mutual funds. For those looking at options entering the new year, the quality growth ETF may merit a closer look. For more news, information, and analysis, visit the Core Strategies Channel.VettaFi LLC (“VettaFi”) is the index provider for QGRO, for which it receives an index licensing fee. However, QGRO is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of QGRO.

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