First Trust Multi-Manager Large Growth ETF (AFGR)

The First Trust Multi-Manager Large Growth ETF (AFGR) is an actively managed exchange-traded fund sponsored by First Trust Advisors. It invests primarily in stocks of large U.S. companies with growth characteristics, such as above-average expected expansion in revenue and earnings.

As its name indicates, the fund uses a multi-manager structure: First Trust allocates the portfolio among several outside investment sub-advisors, each of which manages its own sleeve of large-cap growth stocks according to its own research process. Combining different managers is intended to diversify the sources of stock selection within a single fund.

First Trust oversees the selection of the sub-advisors and the allocation of assets among them. The fund's shares trade on NYSE Arca.