ETF Evaluator: Level Four Large Cap Growth Active ETF () Follow This ETF

Level Four Large Cap Growth Active ETF Overview

Level Four Large Cap Growth Active ETF (LGRO) is an actively managed U.S. Equity Large Growth exchange-traded fund (ETF). ALPS launched the ETF in 2023.

The investment seeks maximum total return and above peer average risk-adjusted return. The fund invests primarily in equity securities of carefully selected, high-quality U.S. companies. The fund invests primarily in the domestic equity securities of companies selected by Level Four Capital Management, LLC for their growth potential within various market sectors.

About Level Four Large Cap Growth Active ETF (LGRO)

There are 1 members of the management team with an average tenure of 2.94 years: Lal Echterhoff (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Bloomberg US 1000 TR USD index with a weighting of 100% and BBG US 1000 Growth TR USD index with a weighting of 100%. Level Four Large Cap Growth Active ETF has 50 securities in its portfolio. The top 10 holdings constitute 45.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Level Four Large Cap Growth Active ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Level Four Large Cap Growth Active ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.1% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Level Four Large Cap Growth Active ETF has 4.9% of the portfolio in cash.

Assets Under Management

The fund has $137 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

LGRO Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Level Four Large Cap Growth Active ETF expense ratio is average compared to funds in the Large Growth category. Level Four Large Cap Growth Active ETF has an expense ratio of 0.50%, which is 1% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Level Four Large Cap Growth Active ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.

Recently, in the month of July 2026, Level Four Large Cap Growth Active ETF returned 3.6%, which earned it a grade of A, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Level Four Large Cap Growth Active ETF has a trailing yield of 0.35%, which is below the 0.53% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Level Four Large Cap Growth Active ETF Grades

Year to date, the ETF has returned 9.8%, 3.6 percentage points better than the category, which translates into a grade of B. The fund has returned 20.4% over the past year (grade of A).

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