Is Invesco S&P MidCap 400 Pure Growth ETF (RFG) a Strong ETF Right Now?

Core Insights - The Invesco S&P MidCap 400 Pure Growth ETF (RFG) is designed to provide broad exposure to the Mid Cap Growth category, launched on March 1, 2006 [1] - RFG aims to match the performance of the S&P MidCap 400 Pure Growth Index, which focuses on securities with strong growth characteristics [5] Investment Strategy - Smart beta ETFs, like RFG, utilize non-cap weighted strategies to potentially outperform traditional market cap weighted indexes [3] - Various methodologies exist within smart beta, including equal-weighting and fundamental weighting, though not all guarantee superior results [4] Fund Details - RFG is managed by Invesco and has assets totaling approximately $292.57 million, categorizing it as an average-sized ETF in its segment [5] - The ETF has an annual operating expense ratio of 0.35%, which is competitive within its peer group, and a 12-month trailing dividend yield of 0.44% [6] Sector Exposure - The ETF has a significant allocation in the Industrials sector, comprising about 30.6% of the portfolio, followed by Consumer Discretionary and Healthcare [7] - The top 10 holdings represent approximately 21.11% of total assets, with Carpenter Technology Corp (CRS) being the largest at 2.9% [8] Performance Metrics - As of August 21, 2025, RFG has returned approximately 2.55% year-to-date and 4.19% over the past year, with a trading range between $39.08 and $53.39 in the last 52 weeks [10] - The fund has a beta of 1.08 and a standard deviation of 21.65% over the trailing three-year period, indicating medium risk [10] Alternatives - Other ETFs in the Mid Cap Growth space include Vanguard Mid-Cap Growth ETF (VOT) and iShares Russell Mid-Cap Growth ETF (IWP), with VOT having $17.38 billion in assets and IWP $19.96 billion [12] - VOT has a lower expense ratio of 0.07%, while IWP's is 0.23%, making them potentially more attractive options for cost-conscious investors [12]