Investment Strategy & Market Analysis - GARP (Growth at a Reasonable Price) ETFs seek to invest in stocks with strong growth potential trading at attractive prices, combining growth and value investing [1] - The strategy is relevant due to concerns about stretched valuations after market rallies [1] - Peter Lynch's success with Fidelity Magellan Fund (29% average annual return from 1977-1990) popularized GARP principles [1] ETF Performance & Methodology - iShares MSCI USA Quality GARP ETF (GARP) has a 015% expense ratio and holds 135 stocks, focusing on value, quality, and growth [1] - Invesco S&P 500 GARP ETF (SPGP) has a 036% expense ratio and holds 75 S&P 500 stocks selected by growth, quality, and value [1] - From January 2020, iShares GARP ETF is up approximately 147%, outperforming the S&P 500 index (up about 100%), while Invesco's product is up about 78% [1] - Year-to-date, iShares GARP ETF is up about 7%, the S&P 500 index is up a little less than 6%, and Invesco's product is up about 3% [2] Portfolio Composition & Sector Exposure - iShares GARP ETF's top holdings include Nvidia, Microsoft, and Apple, with 47% of the portfolio in information technology [1] - Invesco S&P 500 GARP ETF's top sector is consumer discretionary (about 21%), with a lower weight in information technology (about 20%) and a higher weight in energy [1]