JPMorgan Active Growth ETF ($JGRO) vs $FBCG, $CGGR, $TCHP and $TGRW: Are Active Growth ETFs Worth It in 2026?

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The JPMorgan Active Growth ETF ($JGRO) is a stock-picking large cap growth fund that charges 0.44% and returned 17.39% a year from its August 2022 launch through September 30, 2026. That's good, but it trailed its own benchmark, the Russell 1000 Growth, over 1 year and 3 years. Of the five big active growth ETFs I compared, only Fidelity's $FBCG clearly beat the index over every period it reports.

I keep seeing people search for "JP Morgan growth ETF" on this site, and I get the appeal. Big name, real managers, and the promise that a pro can do better than a plain index fund. So I lined up the five actively managed growth ETFs people ask me about most and checked one thing: are you actually getting paid for the higher fee?

The five active growth ETFs, side by side

Fund facts and returns are from each issuer's own fact sheet or fund page as of September 30, 2026. Assets and prices are from the GrowthETFs.com data feed as of October 21, 2026.

Russell 1000 Growth Index for the same periods, as shown on the issuers' fact sheets: 7.50% (1 year), 24.26% (3 years), 13.66% (5 years). *Capital Group's quarter-end return table wasn't readable when I checked, so I left $CGGR's returns out rather than guess. $JGRO and $CGGR don't have 5 year records yet. Past performance does not predict future results.

So, is $JGRO a good growth ETF?

$JGRO is run by Giri Devulapally and Felise Agranoff, the same team behind J.P. Morgan's large cap growth strategy. It held 135 stocks at the end of September, with $NVDA, $GOOGL, $AAPL, $MSFT and $AVGO as its top five.

Here's the honest scorecard. Since launch, $JGRO has made 17.39% a year. The Russell 1000 Growth made 19.37% a year over the same window, per J.P. Morgan's own fact sheet. Over the last 3 years it was 21.64% versus 24.26% for the index, and over the last year it was 3.15% versus 7.50%.

So it's a solid fund that has made people money. It just hasn't beaten the cheap index it's measured against. With $JGRO pulling in nearly $10 billion, a lot of investors are clearly paying 0.44% for the J.P. Morgan name. That's the part I'd want to think hard about.

Fund by fund

$FBCG: the one that actually earned its fee

Fidelity Blue Chip Growth is the standout. 17.88% over the last year versus 7.50% for the Russell 1000 Growth. 29.79% a year over 3 years versus 24.26%. 14.27% a year over 5 years versus 13.66%. It's the only one of the five that beat the index over 1, 3 and 5 years.

It's also the most expensive here at 0.57%, and it's not a quiet fund. 203 holdings, $NVDA at about 15.5%, and a team (Sonu Kalra and Michael Kim) that's willing to make big bets. That's exactly why it's beaten the index lately, and exactly why it can lag hard when those bets go the wrong way.

$CGGR: the biggest and the cheapest

Capital Group Growth is the giant of the group at over $26 billion in our data, and the cheapest at 0.39%. It's also the least $NVDA heavy. Its top holding was $META at 6.6%, with $GOOGL, $NVDA, $MSFT and $AVGO behind it, and none above 7%. Capital Group runs it with multiple managers each handling a slice of the portfolio, which tends to make it less concentrated than a single manager fund. If you want active growth without one stock running the show, this is the one to look at.

$TCHP and $TGRW: the T. Rowe Price pair

$TCHP is T. Rowe's Blue Chip Growth strategy and $TGRW is its Growth Stock strategy, both launched the same day in August 2020. Both trailed the Russell 1000 Growth over 1, 3 and 5 years. $TCHP is also the most concentrated fund in this list with $NVDA at 17.7% of the portfolio.

T. Rowe has a long history with these strategies in mutual fund form. The ETF versions just haven't kept up with the index so far.

Active vs passive: the math most people skip

This is the part most people miss. An index fund like $VUG charges 0.03%. On $10,000, that's $3 a year. $JGRO charges 0.44%, or $44 a year. $FBCG and $TCHP charge 0.57%, or $57 a year.

That doesn't sound like much. But the active manager has to beat the index by that gap every single year, after trading costs, just to tie. And when you look at the holdings, most of these funds own the same giants an index fund owns. Four of the five have $NVDA as their largest position, and $GOOGL, $MSFT, $AVGO and $AAPL show up all over the top five lists.

Put another way: $10,000 in the Russell 1000 Growth grew to about $19,186 over the 3 years ended September 30, 2026. $FBCG got you about $21,864. $TCHP about $18,924. $JGRO about $17,998. Same basic stocks, very different results depending on how much the manager leaned into them.

What I actually look at

I'm a dividend investor first. Growth funds aren't where my income comes from, and none of these pay meaningful dividends. Where growth fits for a lot of income investors is the bucket you don't touch, the part that compounds while your dividend ETFs cover your bills.

If I'm going to pay up for active management in that bucket, here's my checklist:

• Compare to the fund's own benchmark, not to the S&P 500. Every issuer prints it on the fact sheet. Use it.
• Look at 3 and 5 years, not just 1. One great year can be one great stock.
• Check the top holding weight. A fund with 17% in one stock is a very different ride from one at 6%.
• Know the fee in dollars. 0.57% on a $100,000 position is $570 a year, forever.
• Check for overlap. If you already own $VOO or $QQQ, you already own most of these top holdings.

For the cheap passive side of this comparison, read my breakdown of $VUG vs $VONG vs $MGK vs $VOOG. You can also dig into each fund on its own page: the $JGRO growth ETF page, $FBCG growth ETF page, $CGGR growth ETF page and $TCHP growth ETF page, or see all of them ranked in the full list of growth ETFs.

The risks

Manager risk. With an index fund, the rules decide. With an active fund, a person decides, and people leave. $TGRW's current managers took over in 2025 and 2026. Past returns came from whoever was running the money at the time.

Concentration. $TCHP, $TGRW and $FBCG all had 15% or more in one stock. That's a big bet on a single company.

Short track records. $JGRO and $CGGR are under five years old. Neither has been through a full cycle in ETF form.

Style risk. Growth stocks can lag for years. Over the last year the Russell 1000 Growth made 7.50% while the S&P 500 made about 15.7%. Active or passive, growth funds feel that.

My takeaway

If you want active growth, $FBCG has the best record of this group by a wide margin, and $CGGR is the cheapest and least concentrated option. $JGRO is a respectable fund with a strong team, but it hasn't beaten its benchmark since launch, and that's the bar I'd hold it to at 0.44%.

For most people building a long-term growth bucket, I'd start with a low-cost index fund and only add an active fund if I had a specific reason. Paying more is fine. Paying more and getting less is not.

If you want to see how growth funds stack up against income funds once dividends are included, ETFTotalReturns.com compares them on total return since inception. And if your goal is income, TopDividendETFs.com ranks the top 100 dividend ETFs.

FAQ

What is the JPMorgan Active Growth ETF?

$JGRO is an actively managed large cap growth ETF from J.P. Morgan Asset Management, launched August 8, 2022. It charges 0.44% and held 135 stocks as of September 30, 2026, managed by Giri Devulapally and Felise Agranoff.

Has $JGRO beaten the market?

Not its benchmark. Through September 30, 2026, $JGRO returned 17.39% a year since inception versus 19.37% for the Russell 1000 Growth, and 21.64% a year over 3 years versus 24.26%, per J.P. Morgan.

Which active growth ETF has performed best?

Of the five compared here, $FBCG had the strongest record as of September 30, 2026: 17.88% for 1 year, 29.79% a year for 3 years and 14.27% a year for 5 years, all ahead of the Russell 1000 Growth. Past performance does not predict future results.

What is the cheapest active growth ETF?

Of these five, $CGGR has the lowest expense ratio at 0.39%, followed by $JGRO at 0.44%. $FBCG and $TCHP charge 0.57%.

What are $JGRO's top holdings?

As of September 30, 2026, $JGRO's top five were $NVDA (13.0%), $GOOGL (10.5%), $AAPL (5.9%), $MSFT (4.1%) and $AVGO (4.0%).

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Disclaimer: This post is for educational and informational purposes only and is not financial advice or a recommendation to buy or sell any security. I am not a financial advisor. Do your own research and consider speaking with a licensed professional before investing. Fund facts, holdings and returns are from J.P. Morgan, Capital Group, Fidelity and T. Rowe Price fact sheets and fund pages as of September 30, 2026; prices and AUM are from GrowthETFs.com data as of October 21, 2026. Data can be inaccurate or change at any time. Past performance does not guarantee future results. Investing carries risk, including loss of principal.