Core Insights - The First Trust Small Cap Core AlphaDEX ETF (FYX) is designed to provide broad exposure to the Small Cap Blend segment of the US equity market, with assets over $841.68 million [1] - Small cap companies, defined as those with market capitalizations below $2 billion, present both potential and risk, typically combining growth and value stocks [2] Costs - The ETF has an annual operating expense ratio of 0.61%, which is considered relatively high compared to other funds in the space [3] - It offers a 12-month trailing dividend yield of 1.21% [3] Sector Exposure and Holdings - The ETF has a significant allocation to the Financials sector, comprising about 23.90% of the portfolio, followed by Industrials and Consumer Discretionary [4] - Sezzle Inc. (SEZL) is the largest individual holding at approximately 1.20% of total assets, with the top 10 holdings accounting for about 6.29% of total assets under management [5] Performance and Risk - FYX aims to match the performance of the Nasdaq AlphaDEX Small Cap Core Index, having lost about -0.04% year-to-date and gained approximately 4.83% over the past year as of July 25, 2025 [6] - The ETF has a beta of 1.12 and a standard deviation of 22.18% over the trailing three-year period, indicating medium risk [7] Alternatives - FYX carries a Zacks ETF Rank of 3 (Hold), suggesting it is a reasonable option for investors seeking exposure to the Small Cap Blend market [8] - Other comparable ETFs include the Vanguard Small-Cap ETF (VB) with $65.51 billion in assets and an expense ratio of 0.05%, and the iShares Core S&P Small-Cap ETF (IJR) with $82.09 billion in assets and an expense ratio of 0.06% [9] Bottom-Line - Passively managed ETFs like FYX are favored by both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency [10]

Core Viewpoint - The First Trust Small Cap Growth AlphaDEX ETF (FYC) is designed to provide broad exposure to the Small Cap Growth segment of the US equity market, with a focus on growth stocks that have higher potential but also higher risks [1][2][3]. Fund Overview - Launched on April 19, 2011, FYC has accumulated assets exceeding $462.95 million, positioning it as an average-sized ETF in its category [1]. - The ETF has an annual operating expense ratio of 0.71%, which is considered high compared to other funds in the space [4]. Sector Exposure and Holdings - The ETF has a significant allocation to the Financials sector, comprising approximately 22.10% of the portfolio, followed by Industrials and Healthcare [5]. - Sezzle Inc. (SEZL) is the largest individual holding at about 2.86% of total assets, with the top 10 holdings accounting for roughly 12.34% of total assets under management [6]. Performance Metrics - FYC aims to match the performance of the Nasdaq AlphaDEX Small Cap Growth Index, with a year-to-date return of approximately 4.59% and a one-year return of about 16.76% as of July 25, 2025 [7]. - The ETF has a beta of 1.16 and a standard deviation of 22.36% over the trailing three-year period, indicating a higher risk profile [8]. Alternatives - Other ETFs in the same space include the iShares Russell 2000 Growth ETF (IWO) with $11.90 billion in assets and an expense ratio of 0.24%, and the Vanguard Small-Cap Growth ETF (VBK) with $19.60 billion in assets and an expense ratio of 0.07% [11]. Conclusion - FYC is a viable option for long-term investors seeking exposure to small-cap growth stocks, benefiting from low costs, transparency, and tax efficiency typical of passively managed ETFs [12].

Core Viewpoint - The TCW Transform 500 ETF (VOTE) is a passively managed ETF that aims to provide broad exposure to the Large Cap Blend segment of the US equity market, with significant assets under management and low expense ratios [1][3]. Group 1: Fund Overview - The TCW Transform 500 ETF was launched on June 22, 2021, and has accumulated over $843.86 million in assets, positioning it as one of the larger ETFs in its category [1]. - The fund targets large cap companies, typically those with market capitalizations above $10 billion, which are known for their stability and predictable cash flows [2]. Group 2: Costs and Performance - The ETF has an annual operating expense ratio of 0.05%, making it one of the least expensive options available [3]. - It has a 12-month trailing dividend yield of 1.10% [3]. - As of July 25, 2025, the ETF has gained approximately 9.19% year-to-date and 19.39% over the past year, with a trading range between $58.20 and $74.71 in the last 52 weeks [6]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 33.40% of the portfolio, followed by Financials and Consumer Discretionary [4]. - Nvidia Corp (NVDA) is the largest holding at approximately 6.87% of total assets, with Microsoft Corp (MSFT) and Apple Inc (AAPL) also among the top holdings [5]. - The top 10 holdings account for about 35.56% of total assets under management [5]. Group 4: Risk and Alternatives - The ETF seeks to match the performance of the Morningstar US Large Cap Select Index, which tracks the 500 largest US companies [6]. - It has a beta of 1.01 and a standard deviation of 16.99% over the trailing three-year period, indicating effective diversification of company-specific risk with around 509 holdings [7]. - The TCW Transform 500 ETF holds a Zacks ETF Rank of 2 (Buy), suggesting it is a strong option for investors looking for exposure to the Large Cap Blend segment [8]. Group 5: Market Context - Other ETFs in the same space include the SPDR S&P 500 ETF (SPY) and the Vanguard S&P 500 ETF (VOO), with assets of $653.02 billion and $701.38 billion respectively, and expense ratios of 0.09% and 0.03% [9]. - Passively managed ETFs are gaining popularity among both institutional and retail investors due to their low cost, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10].

Core Insights - The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is a passively managed ETF launched on March 21, 2012, designed to provide broad exposure to the Large Cap Growth segment of the US equity market, with assets exceeding $1.26 billion [1] - Large cap companies typically have market capitalizations above $10 billion, characterized by stability and predictable cash flows, making them less volatile compared to mid and small cap companies [2] - Growth stocks, which QQQE primarily invests in, exhibit higher sales and earnings growth rates but also come with higher valuations and volatility [3] Costs - The annual operating expenses for QQQE are 0.35%, which is competitive within its peer group, and it has a 12-month trailing dividend yield of 0.60% [4] Sector Exposure and Top Holdings - QQQE has a significant allocation of approximately 40.10% to the Information Technology sector, followed by Consumer Discretionary and Telecom [5] - The top 10 holdings represent about 10.69% of total assets, with Datadog Inc - Class A (DDOG) accounting for around 1.16% of total assets [6] Performance and Risk - QQQE aims to match the performance of the NASDAQ-100 Equal Weighted Index, which includes 100 of the largest non-financial securities listed on NASDAQ [7] - The ETF has returned approximately 11.52% year-to-date and 12.01% over the past year, with a trading range between $76.98 and $99.91 in the last 52 weeks [8] - With a beta of 1.07 and a standard deviation of 19.85% over the trailing three-year period, QQQE is considered a medium risk investment [8] Alternatives - Other ETFs in the same space include the Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), with VUG having $179.21 billion in assets and an expense ratio of 0.04%, while QQQ has $358.16 billion in assets and charges 0.20% [11] Bottom-Line - Passively managed ETFs like QQQE are gaining popularity among both institutional and retail investors due to their low cost, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [12]

Core Viewpoint - 21Shares US LLC has filed a registration statement with the SEC for two new crypto exchange-traded funds (ETFs), marking a significant step in the regulatory engagement for cryptocurrency investment products in the U.S. [1][5] Group 1: Fund Details - The two funds are the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF, designed to provide diversified exposure to the crypto market through dedicated indexes [2][8] - The 21Shares FTSE Crypto 10 Index ETF tracks a market cap-weighted index of the top ten largest crypto assets globally, dynamically adjusting to reflect the size and success of each asset [8] - The 21Shares FTSE Crypto 10 ex-BTC Index ETF tracks a separate index that excludes Bitcoin, focusing on cryptocurrencies and blockchain networks with real-world applications [8] Group 2: Regulatory and Tax Structure - These ETFs are the first crypto basket ETFs registered under the Investment Company Act of 1940, offering a more familiar and tax-efficient vehicle for investors [2][3] - The funds qualify for Form 1099 tax reporting, simplifying tax obligations compared to the K-1 forms associated with other investment structures [3] Group 3: Company Background and Strategy - 21Shares AG, the sponsor of the ETFs, is a leading provider of cryptocurrency exchange-traded products, aiming to bridge traditional finance and decentralized finance [6] - The company has a seven-year track record of creating crypto ETFs and is backed by a specialized research team and proprietary technology [6] - The partnership with ETF Solutions by Teucrium supports the development and market entry of these products, highlighting a commitment to innovation in digital asset investing [4][6]

Core Viewpoint - The American Century U.S. Quality Growth ETF (QGRO) is designed to provide broad exposure to the Style Box - All Cap Growth category, utilizing a smart beta strategy to potentially outperform traditional market cap weighted indexes [1][5]. Fund Overview - QGRO was launched on September 10, 2018, and is sponsored by American Century Investments [1][5]. - The fund has accumulated over $1.75 billion in assets, making it one of the largest ETFs in its category [5]. - It aims to match the performance of the American Century U.S. Quality Growth Index, which selects large and mid-cap U.S. companies with strong growth and quality fundamentals [5]. Cost Structure - QGRO has an annual operating expense of 0.29%, positioning it as one of the more affordable options in the smart beta ETF space [6]. - The fund's 12-month trailing dividend yield is 0.24% [6]. Sector Exposure and Holdings - The ETF has a significant allocation in the Information Technology sector, comprising approximately 36.2% of the portfolio [7]. - The top three sectors also include Industrials and Healthcare [7]. - Booking Holdings Inc (BKNG) is the largest individual holding at about 3.52% of total assets, followed by Meta Platforms Inc Class A (META) and Netflix Inc (NFLX) [8]. - The top 10 holdings account for around 27.32% of total assets under management [8]. Performance Metrics - As of July 17, 2025, QGRO has gained approximately 8.3% year-to-date and about 22.13% over the past year [10]. - The fund has traded between $80.24 and $109.93 in the last 52 weeks [10]. - QGRO has a beta of 1.10 and a standard deviation of 20.20% over the trailing three-year period, indicating a moderate level of risk [10]. - The fund holds about 189 securities, effectively diversifying company-specific risk [10]. Alternatives - While QGRO is a viable option for investors looking to outperform the Style Box - All Cap Growth segment, there are other ETFs available, such as iShares Morningstar Growth ETF (ILCG) and iShares Core S&P U.S. Growth ETF (IUSG) [11][12]. - ILCG has $2.8 billion in assets and an expense ratio of 0.04%, while IUSG has $23.75 billion in assets with the same expense ratio [12].

Core Viewpoint - The Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) is designed to provide broad exposure to the Large Cap Growth segment of the US equity market, with significant assets under management and a focus on large-cap companies [1][10]. Group 1: Fund Overview - OMFL is a passively managed ETF launched on November 8, 2017, and has amassed over $4.93 billion in assets, making it one of the larger ETFs in its category [1]. - The ETF has an annual operating expense ratio of 0.29%, which is competitive within its peer group, and a 12-month trailing dividend yield of 0.71% [4]. Group 2: Market Characteristics - Large cap companies, defined as those with market capitalizations above $10 billion, are generally more stable and exhibit predictable cash flows compared to mid and small cap companies [2]. - Growth stocks, while having higher sales and earnings growth rates, also come with higher valuations and volatility, making them a safer bet in strong bull markets but less effective in other financial environments [3]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 22.80% of the portfolio, followed by Consumer Staples and Financials [5]. - Microsoft Corp (MSFT) is the largest holding at approximately 5.38% of total assets, with the top 10 holdings accounting for about 43.87% of total assets under management [6]. Group 4: Performance Metrics - As of July 17, 2025, the ETF has returned approximately 6.57% year-to-date and 11.67% over the past year, with a trading range between $47.65 and $58.13 in the past 52 weeks [8]. - The ETF has a beta of 1 and a standard deviation of 16.04% for the trailing three-year period, indicating effective diversification of company-specific risk with about 277 holdings [8]. Group 5: Alternatives and Comparisons - OMFL holds a Zacks ETF Rank of 2 (Buy), indicating strong expected performance based on various factors [10]. - Other ETFs in the same space include the Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), with VUG having $178.36 billion in assets and an expense ratio of 0.04%, while QQQ has $355.54 billion in assets and charges 0.20% [11]. Group 6: Investment Appeal - Passively managed ETFs like OMFL are favored by both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency, making them an excellent choice for long-term investors [12].

Core Viewpoint - The Invesco S&P SmallCap 600 Pure Value ETF (RZV) is a passively managed fund targeting the Small Cap Value segment of the US equity market, with assets exceeding $206.50 million, making it an average-sized ETF in this category [1]. Group 1: Small Cap Value Characteristics - Small cap companies, defined as those with market capitalizations below $2 billion, are considered high-potential stocks but carry higher risks compared to large and mid-cap companies [2]. - Value stocks typically exhibit lower price-to-earnings and price-to-book ratios, along with lower sales and earnings growth rates. Historically, value stocks have outperformed growth stocks in most markets, although they may underperform during strong bull markets [3]. Group 2: Costs and Performance - 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 0.96% [4]. - RZV aims to replicate the performance of the S&P SmallCap 600 Pure Value Index, having lost approximately -3.48% year-to-date and -0.25% over the past year as of July 17, 2025. The ETF has traded between $83.11 and $119.36 in the last 52 weeks [7]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Consumer Discretionary sector, comprising about 26.80% of the portfolio, followed by Financials and Energy [5]. - Par Pacific Holdings Inc (PARR) represents about 2.49% of total assets, with the top 10 holdings accounting for approximately 17.72% of total assets under management [6]. Group 4: Risk and Alternatives - RZV has a beta of 1.20 and a standard deviation of 24.57% over the trailing three-year period, indicating a higher risk profile. The ETF includes around 147 holdings, which helps mitigate company-specific risk [8]. - Alternatives to RZV include the iShares Russell 2000 Value ETF (IWN) and the Vanguard Small-Cap Value ETF (VBR), which track similar indices and have larger asset bases of $10.92 billion and $29.95 billion, respectively [10].

Core Viewpoint - The iShares Top 20 U.S. Stocks ETF (TOPT) offers broad exposure to the Large Cap Growth segment of the US equity market, with assets exceeding $242.27 million and launched on 10/23/2024 [1] Group 1: Large Cap Growth Overview - Large cap companies have a market capitalization above $10 billion, providing more stability and predictable cash flows compared to mid and small cap companies [2] - Growth stocks typically exhibit higher sales and earnings growth rates but come with higher valuations and associated risks [3] Group 2: Cost Structure - The annual operating expenses for TOPT are 0.20%, positioning it as one of the cheaper options in the ETF space, with a 12-month trailing dividend yield of 0.27% [4] Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 49.30% of the portfolio, followed by Financials and Telecom [5] - Microsoft Corp (MSFT) represents approximately 14.72% of total assets, with the top 10 holdings accounting for about 74.37% of total assets under management [6] Group 4: Performance Metrics - TOPT aims to match the performance of the S&P 500 TOP 20 SELECT INDEX, having gained roughly 6.39% so far, with a trading range between $21.25 and $27.67 over the past 52 weeks [7] Group 5: Alternatives and Market Position - TOPT holds a Zacks ETF Rank of 2 (Buy), indicating strong potential based on expected returns, expense ratio, and momentum [8] - Other ETFs in the Large Cap Growth space include Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), with VUG having $178.19 billion in assets and an expense ratio of 0.04%, while QQQ has $355.77 billion and charges 0.20% [9] Group 6: Investment Appeal - Passively managed ETFs like TOPT are favored by both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency [10]

Group 1 - The current total holdings of the largest gold ETF, SPDR Gold Trust, stand at 947.64 tons, unchanged from the previous trading day [6] - On July 15, spot gold prices experienced a decline after reaching a high of $3366.41 per ounce, closing at $3324.6 per ounce, down $18.74 or 0.56% [6] - Recent U.S. inflation data showed that both the June CPI and core CPI exceeded previous values, but core CPI has been below expectations for five consecutive months, indicating that tariff impacts on inflation are not fully realized [6][7] Group 2 - Market expectations suggest a 62% probability that the Federal Reserve will cut interest rates by 25 basis points in September, with potential for nearly two cuts by the end of the year [6] - Analysts indicate that the lower-than-expected core CPI has raised questions about the extent of consumer price impacts from tariffs, potentially prompting President Trump to advocate more strongly for rate cuts [7] - Technical analysis shows that gold prices may consolidate, with resistance at $3350 and potential targets of $3400 and $3450 if broken, while a drop below $3300 could lead to testing the 100-day moving average at $3245 [6]