Touchstone US Large Cap Focused ETF

LCF

Market cap $53.7M

LCF is an actively managed high-conviction large-cap fund with a 0.56% net expense ratio and $47 million in assets under management. Its benchmark is the S&P 500 Index. The ETF only launched three years ago, but the fund's sub-advisor has implemented the strategy through its mutual funds and separately managed accounts since October 2013. My fundamental analysis reveals a portfolio with solid growth-at-a-reasonable-price features, though LCF's 58% active share with SPY should be higher.

The week before Labor Day is usually a slow one. This one likely won't be, though, with Nvidia set to report results after the close today.

One of the most valued attributes of ETFs is diversification. Rather than attempting to choose a couple of winning stocks, these equity funds own more securities.