ETF Research Center

QGRO tracks an index of large- and midcap US stocks. Holdings are selected and weighted by growth and quality factors.

FUND BASICS
Category	US Equities
Fund Sponsor	American Century
Website	ipro.americancentury.com
Inception date	Sep 10, 2018
Assets (mns)	$148
Currency	USD
Expense ratio	29 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Fundamental
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	203
Wgt avg mkt cap (mns)	$82,540
Large cap (>$10bn)	80.3%
Mid cap ($2-10bn)	19.7%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	25.4 %
VERTEX PHARMACEUTICALS INC	3.5 %
INTUIT INC	3.0 %
ALIGN TECHNOLOGY INC	2.8 %
BIOGEN IDEC INC	2.7 %
LAM RESEARCH CORP	2.4 %
FACEBOOK	2.3 %
FORTINET INC	2.3 %
APPLIED MATERIALS INC	2.2 %
REGENERON PHARMACEUTICALS	2.1 %
SOUTHWEST AIRLINES CO	2.0 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.7 %
	ISRAEL	1.6 %
	BRITAIN	0.8 %
	IRELAND	0.3 %
	SWITZERLAND	0.2 %
	BRAZIL	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
1.9%	--	--	--	1.9%

Market Correlations
versus...	Beta	R-squared
S&P500	--	--
MSCI EAFE	--	--
MSCI Emg. Mkts.	--	--

Technical Indicators
Recent close	$42.80
30d moving avg.	$41.64
Annualized volatility	0.0%
Short interest (ETF)	0.1%
Relative strength (RSI)	61

Liquidity measures
Avg. volume (thou.)	127
Turnover	3.7%
Bid/Ask (% of price)	0.10%
ADV underlying (mns)	$61,766

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the American Century STOXX U.S. Quality Growth ETF based on the alternatives' overlap in portfolio holdings with QGRO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

QGRO

Expense:

29 bp

ALTAR Score™:

4.9%

ALTERNATIVE ETFs BASED ON OVERLAP WITH QGRO
Ticker	Fund Name	Overlap¹ vs QGRO (%)	Expense ratio (bp)	Savings vs QGRO (bp)	ALTAR Score™ (%)	ALTAR vs QGRO (%)
QRFT	Qraft Ai-Enhanced U.S. Large Cap ETF	27.8	75	-46	4.7	-0.1
IWF	iShares Russell 1000 Growth	26.7	19	10	5.0	+0.2
VONG	Vanguard Russell 1000 Growth	26.6	12	17	5.1	+0.2
PXLG	Invesco Fundamental Pure Large Growth	25.9	35	-6	8.2	+3.3
OQAL	Invesco Russell 1000 Quality Factor ETF	25.7	19	10	5.3	+0.5
JQUA	JPMorgan U.S. Quality Factor	24.5	12	17	5.9	+1.0
JMOM	JPMorgan U.S. Momentum Factor	24.3	12	17	4.4	-0.5
ONEO	SPDR Russell 1000 Momentum Focus	24.2	20	9	6.5	+1.6
VUG	Vanguard Growth ETF	24.2	4	25	4.9	+0.0
QQEW	First Trust NASDAQ 100 Equal Weight	24.0	60	-31	6.0	+1.2
QQQE	Direxion NASDAQ-100 Equal Weight	24.0	35	-6	6.3	+1.4
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity	23.8	9	20	6.5	+1.6
SCHG	Schwab U.S. Large-Cap Growth	23.5	4	25	5.0	+0.1
QARP	Xtrackers Russell 1000 US QARP	23.4	19	10	6.5	+1.6
IWP	iShares Russell Midcap Growth	23.4	24	5	4.6	-0.2
IUSG	iShares Core U.S. Growth	23.0	4	25	5.1	+0.3
SPYG	SPDR Portfolio S&P 500 Growth	22.2	4	25	5.1	+0.3
TTAC	TrimTabs All Cap US Free-Cash-Flow	22.1	59	-30	5.0	+0.1
IVW	iShares S&P 500 Growth	22.1	18	11	5.0	+0.1
VOOG	Vanguard S&P 500 Growth	22.1	15	14	5.0	+0.2

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	American Century STOXX U.S. Quality Growth
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	26.3	%
Divided by: Fwd. P/BV	5.1	x
Less: Expense ratio	29	bp
Equals: ALTAR Score	4.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.53	CATEGORY AVERAGE	1.55

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.