It is an actively managed ETF that invests a significant portion of its assets in income-generating stocks that combine growth potential with dividend stability. The management team selects stocks through bottom-up fundamental analysis, pursuing capital growth and income together.

It suits investors who want exposure to large-cap growth stocks while also expecting dividend income, and who prefer active stock selection.

It is an actively managed ETF run by Manager Directed Portfolios.

Instead of tracking an index, the management team directly selects income-generating stocks that combine growth potential with a stable dividend history. The portfolio is built through bottom-up fundamental analysis that evaluates profitability metrics such as operating margin and return on equity, along with the potential for sustainable earnings and cash flow growth.

• An active strategy that combines growth and income in a single product
• Stock selection based on bottom-up fundamental analysis

Assets under management (AUM) stand at $147.5M, and the total expense ratio is 0.99% per year.

Its management fee is on the higher side compared with passive growth ETFs, but it offers the management team's active stock selection along with an income component.

With a high weighting in large-cap growth stocks, it is influenced by technology and growth sector trends, and short-term swings tend to depend on the interest rate environment and earnings season. Because of the added income component, its volatility profile may differ somewhat from that of a pure growth ETF.

The product targets demand for combining growth and income, and its fund flows fluctuate with active management performance and the market's appetite for growth stocks. As a relatively new product, its asset size is small compared with the large ETFs in its category.

Its strength is active management that combines growth and income, while its weaknesses are a higher management fee than passive growth ETFs and a short track record.

The VUG, SCHG, IWF, IVW and SPYG shown in the table are passive ETFs in the same large-cap growth category, and they are broad core alternatives with lower management fees than SWP. However, they track an index, whereas this ETF differs in that the management team selects stocks directly. If you place more weight on dividend income, you can also consider the dividend growth ETFs SCHD, VIG and DGRO.

These are the points to review before investing in SWP. Because it is an actively managed ETF, it is advisable to check the management fee, the consistency of the investment strategy and the short track record in advance.

The higher management fee compared with passive funds and the short track record are the key risks. With a high weighting in large-cap growth stocks, short-term volatility can increase during periods of rising interest rates or growth stock corrections.

It is worth considering if you want to combine growth and income in one product and prefer active stock selection. If cost is your priority, low-fee passive growth ETFs such as VUG and SCHG can be alternatives, and if you focus on dividend income, SCHD and VIG can serve as alternatives.