5 Best Performing Growth ETFs in 2022

4. First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR)

YTD Return as of December 8: -16.28%

The First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) invests in growth stocks, and more particularly, blockchain technology stocks. The fund has an expense ratio of 0.65% and is yielding 3.22%. The fund pays out dividends on a quarterly basis. The First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) uses a full replication technique to track the returns of the Indxx Blockchain Index.

As of December 8, the First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR) has fallen by 16.28 year to date and is ahead of the Nasdaq composite by over 13%. The fund is ranked among the best performing growth ETFs in 2022. The fund has 107 holdings and a top ten holdings concentration of 14.34%.

SAP SE (NYSE:SAP) is ranked among the top ten holdings of the First Trust Indxx Innovative Transaction & Process ETF (NASDAQ:LEGR). On December 2, Stifel analyst Brad Reback raised his price target on SAP SE (NYSE:SAP) to EUR 135 from EUR 130 and reiterated a Buy rating on the shares.

As of September 30, Fisher Asset Management is the top investor in SAP SE (NYSE:SAP) and has stakes worth $549.63 million.

Here is what Polen Capital had to say about SAP SE (NYSE:SAP) in its third-quarter 2022 investor letter:

“SAP SE (NYSE:SAP) is Europe’s largest software company and the global leader in enterprise resource planning (ERP) software. ERP is a software category that is particularly critical to business functions, and, therefore, has high retention rates even in times of economic stress. For the past several years, SAP has been going through several transitions, including moving to cloud-based SaaS (Software as a service) solutions and an initiative to better integrate its various software solutions. In recent quarters, we have seen increasing evidence that both transitions are being successfully executed, and the result should be a faster-growing, more consistent, higher margin, and more advantaged business. As investment costs from these transition programs wane, and as the benefits of higher growth continue, we expect that earnings will grow at a double-digit rate from next year (2023) onwards. In light of this, we believe the valuation is very attractive for longterm investors.”