At a glance
LRGG charges 0.44% a year, above the 0.22% average of the 8 funds most like it (the 7th cheapest of 9). It has $264.0M in assets, the 8th largest of that group; it paid 0.31% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +1.3% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds. Its ten largest positions make up 69.8% of the fund, out of 20 in all.
The short version
Macquarie Focused Large Growth ETF (LRGG) is an actively managed fund that owns a small portfolio of about 15 to 25 large growth companies. Its manager picks them for lasting competitive advantages. As of June 30, 2026, it held 20 stocks, and NVIDIA alone made up about 16% of the fund. Its 0.44% yearly fee is far higher than broad large growth funds such as SCHG or VUG, which charge 0.04%.
Price history
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LRGG +1.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| LRGG official prospectus, to Dec 31, 2025 | — | +7.69% | — | — | — | +11.04% |
| Russell 1000® Growth Index index, same period | — | +18.56% | — | — | — | +23.51% |
| Russell 1000® Index index, same period | — | +17.37% | — | — | — | +18.91% |
| LRGG price data to Oct 27, 2026 | +3.6% | +1.3% | — | — | — | +8.3% |
- Over the year to Oct 27, 2026, LRGG returned +1.3%, 8th of 9 among similar funds.
- Its worst full calendar year was 2025 (+7.8%); its best was 2025 (+7.8%).
- The deepest fall in its price history was 18.8% (Oct 28, 2025 to Mar 27, 2026), recovered by Oct 9, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +3.6% | -7.03% |
| 2025 | +7.8% | +7.69% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.0960 |
What's inside
As of Jun 30, 2026, the fund held 20 securities; the ten largest made up 69.76% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp. | 15.84% | |
| Microsoft Corp. | 9.37% | |
| Apple, Inc. | 8.45% | |
| Alphabet, Inc. | 6.78% | |
| Amazon.com, Inc. | 5.66% | |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 5.53% | |
| Visa, Inc. | 5.11% | |
| Verisk Analytics, Inc. | 4.62% | |
| Danaher Corp. | 4.33% | |
| Motorola Solutions, Inc. | 4.08% | |
| Waste Connections, Inc. | 4.02% | |
| General Electric Co. | 3.74% | |
| S&P Global, Inc. | 3.69% | |
| Mastercard, Inc. | 3.59% | |
| Intercontinental Exchange, Inc. | 2.98% |
By country
United States 87.25%Taiwan 5.53%Canada 4.02%Netherlands 2.15%By asset type
Stocks 98.95%By sector
Sectors of the companies held, for the 87.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $3.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.42%, +2.59%, -3.58%.
How it works
This fund does not track an index. Its adviser, Delaware Management Company, picks every stock. Its July 29, 2026, prospectus uses the name Nomura Focused Large Growth ETF. At least 80% of net assets go into large growth companies, meaning firms in or resembling the Russell 1000 Growth Index, a benchmark of bigger US growth stocks. It normally buys companies valued at $10 billion or more.
Stock selection has two sides. The manager researches individual companies for lasting advantages such as brand loyalty, proprietary technology or scale, then checks profitability, cash flow and how efficiently each grows. That narrows the field to a “Franchise Growth Universe” of about 100 names. The manager generally picks 15 to 25 of them, weighing durability, risk and estimated three-to-five-year returns. Position sizes are the manager's call. On June 30, 2026, the fund held 20 companies; the top 10 were about 70% of assets, led by NVIDIA at 15.8%.
There is no fixed rebalancing schedule. The manager sells when an industry weakens, a company loses its edge, management disappoints or upside looks limited. Portfolio turnover was 20%, meaning about a fifth of holdings changed over a year. Foreign firms can be held through American depositary receipts (ADRs), US-traded certificates representing foreign shares.
What it really costs
- LRGG charges 0.44% a year, versus an average of 0.22% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $45 in the first year and $555 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| LRGG | $45 | $141 | $246 | $555 |
In a retirement portfolio
With about 20 stocks, 41.7% in technology and a fee twice the peer average, it fits better as a small add-on than as a main holding.
LRGG could add a focused bet on about 20 large growth companies alongside a broadly diversified core. The fund launched on May 14, 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 7.8% based on share price. Its deepest drop was 18.8%, from October 28, 2025, to March 27, 2026. From that low, it took about 6.4 months to get back to its old high, which it did on October 9, 2026. Anyone who sold shares for spending money during that stretch would have locked in losses. The fund pays little income: its yield was 0.31% as of October 27, 2026, paid twice a year. In the SEC's standard example, costs on $10,000 come to $45 for one year and $555 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, manager-picked portfolio of about 20 large growth companies, led by NVIDIA, Microsoft and Apple, as an add-on holding.
- People willing to pay 0.44% a year for active stock picking focused on quality rather than owning hundreds of growth stocks.
- Long-term holders who don't need income from it, since it yielded 0.31% as of October 27, 2026, paid twice a year.
Look elsewhere if
- Cost-conscious investors: SCHG and VUG charge 0.04% for similar large growth exposure, while LRGG's 0.44% ranked 7th of 9 among similar funds.
- Those wanting a long record: LRGG launched in May 2024 and trailed the Russell 1000 Growth Index through December 31, 2025.
- Retirees who want steady income or stability: the yield is tiny, technology is 41.7% of the fund, and it fell 18.8% from October 2025 to March 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| LRGG this fund | — | 0.44% | $264.0M | +1.3% | — |
| TMFC Motley Fool 100 Index ETF | 45% | 0.5% | $2.09B | +9.6% | +28.1% |
| TCHP T. Rowe Price Blue Chip Growth ETF | 43% | 0.57% | $2.16B | -1.2% | +23.5% |
| SCHG Schwab U.S. Large-Cap Growth ETF | 43% | 0.04% | $63.03B | +2.2% | +23.0% |
| MGK Vanguard Mega Cap Growth ETF | 43% | 0.07% | $33.30B | +2.5% | +23.2% |
| XLG Invesco S&P 500® Top 50 ETF | 43% | 0.2% | $10.56B | +6.9% | +25.3% |
| VUG Vanguard Growth ETF | 42% | 0.04% | $379.29B | +3.8% | +25.1% |
| TOPT iShares Top 20 U.S. Stocks ETF | 41% | 0.2% | $657.2M | +12.2% | — |
Questions investors ask
Is LRGG an index fund or actively managed?
LRGG is actively managed. It does not track an index. Its adviser, Delaware Management Company, picks about 15 to 25 large growth companies that it believes have lasting competitive advantages and strong profits. The Russell 1000 Growth Index is used to define which companies qualify and as a yardstick for results. The prospectus filed July 29, 2026, calls the fund the Nomura Focused Large Growth ETF.
What are LRGG's top holdings?
As of June 30, 2026, LRGG's largest holdings were NVIDIA (15.8%), Microsoft (9.4%), Apple (8.5%), Alphabet (6.8%), Amazon (5.7%), Taiwan Semiconductor (5.5%) and Visa (5.1%). The fund held 20 companies in all, and its top 10 made up about 70% of assets. Technology was the largest sector at 41.7%, followed by financials at 18%. About 87% of the fund was in US companies.
LRGG vs SCHG: what's the difference?
The biggest differences are cost and concentration. LRGG charges 0.44% a year, compared with 0.04% for Schwab U.S. Large-Cap Growth ETF (SCHG). LRGG holds about 20 stocks picked by a manager. SCHG is far larger, with about $63 billion in assets as of August 31, 2026, compared with LRGG's $264 million as of June 30, 2026. The two share about 43% of their holdings. Over one year, LRGG returned 1.3% through October 27, 2026, while SCHG returned 3.9% through October 30, 2026.
Does LRGG pay dividends?
Yes, but not much. LRGG pays distributions twice a year. Over the 12 months through October 27, 2026, it paid about $0.096 per share, a yield of 0.31%. That is because the fund owns growth companies, which often pay small dividends or none and put their profits back into the business. Investors who want a steady income stream from a fund will find little here.
How has LRGG performed since it launched?
LRGG has trailed its benchmark. In 2025, it returned 7.69%, compared with 18.56% for the Russell 1000 Growth Index. From its May 2024 launch through December 31, 2025, it returned 11.04% a year, compared with 23.51% for the index. Based on share price, its one-year return through October 27, 2026, was 1.3%. Its deepest drop was 18.8%, between October 2025 and March 2026, and it was back at its old high by October 9, 2026.