Touchstone U.S. Large Cap Fund (LCF)

LCF: This Large-Cap Focused ETF Can't Overcome Its Own High Fees

LCF is an actively managed high-conviction large-cap fund with a 0.56% net expense ratio and $47 million in assets under management. Its benchmark is the S&P 500 Index. The ETF only launched three years ago, but the fund's sub-advisor has implemented the strategy through its mutual funds and separately managed accounts since October 2013. My fundamental analysis reveals a portfolio with solid growth-at-a-reasonable-price features, though LCF's 58% active share with SPY should be higher.