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First Trust Multi-Manager Small Cap Opportunities ETF is an active ETF in the “Small Growth” category. MMSC is well diversified and has excellent fundamental growth metrics. Given high fees, thin trading, and lackluster returns, I find MMSC uncompelling versus other small-cap growth ETFs.

Though small-cap stocks underperformed the mega-cap stocks this year, things could turn in favor of the pint-sized stocks now.

On Thursday, First Trust Advisors L.P., a leading ETF provider and asset manager, announced the launch of a new actively managed ETF, the First Trust Multi-Manager Small Cap Opportunities ETF (NYSE Arca: MMSC).