Growth investing has become hot lately with the Wall Street witnessing remarkable rally. This is especially true as growth stocks are a momentum play and tend to outperform in a trending market (a market characterized by a prolonged uptrend). These refer to high-quality stocks that are likely to witness revenue and earnings increase at a faster rate than the industry average. These stocks harness their momentum in earnings to create a positive bias in the market, resulting in rocketing share prices.Solid Market TrendsThe three major indices have been hitting series of record highs lately with the S&P 500 crossing the 3,100 level for the first time ever early this week. The rally is mainly powered by the easing U.S.-China trade worries and stronger-than-expected earnings (read: The Cheapest ETFs for Most Popular Indexes).This is because the United States is expected to sign a phase one trade deal with China later this month. On the Q3 earnings front, of the 455 S&P members that reported results, 72.3% beat earnings estimates and 57.8% beat on revenues. The proportion of these companies beating earnings and revenue estimates is within the historical range.The gains were also driven by rate cuts by the Federal Reserve, which made borrowings cheaper, providing a boost to both investment in new projects and repayment of higher-rate debt. The Fed slashed interest rates again by 25 basis points (bps) last month, marking the third rate cut for the year. A slew of mergers and acquisitions is also driving stocks higher (read: Fed Cuts Rates, Signals Pause: Trick or Treat for ETFs?).ETFs to PlayGiven the bullishness, investors seeking to capitalize on the strong trends should consider growth ETFs. However, it is worth noting that these funds offer exposure to stocks with growth characteristics that have comparatively higher P/B, P/S and P/E ratios and exhibit a higher degree of volatility when compared to value stocks.Below, we have presented some ETFs that are scaling to all-time highs in the latest trading session. All these funds have a Zacks ETF Rank #1 (Strong Buy) or 2 (Buy).iShares Russell 1000 Growth ETF IWFThis ETF follows the Russell 1000 Growth Index and holds 530 stocks in its basket. It has AUM of $46.9 billion and charges 19 bps in annual fees. The fund has a Zacks ETF Rank #1 with a Medium risk outlook (read: Wall Street Hits Record High: Leveraged ETFs to Play).Vanguard Mega Cap Growth ETF MGKThis ETF tracks the CRSP US Mega Cap Growth Index, holding 114 stocks in its basket. It charges 7 bps in annual fees and has AUM of $4.8 billion. The fund has a Zacks ETF Rank #1 with a Medium risk outlook.iShares Core S&P U.S. Growth ETF IUSGThis product tracks the S&P 900 Growth Index and is home to 541 stocks. It has accumulated $7.2 billion in its asset base and charges 4 bps in annual fees. IUSG has a Zacks ETF Rank #1 with a Medium risk outlook.Vanguard Russell 1000 Growth ETF VONGThis ETF tracks the Russell 1000 Growth Index, charging investors 12 bps in annual fees. It holds a basket of 530 stocks with AUM of $3.1 billion. The fund has a Zacks ETF Rank #1 with a Medium risk outlook (read: Large Cap Growth ETF Hits New 52-Week High).iShares S&P 500 Growth ETF IVWThis fund tracks the S&P 500 Growth Index and holds 297 stocks in its basket. It charges 18 bps in annual fees and has amassed $23.9 billion in its asset baseVanguard S&P 500 Growth ETF VOOGThis fund tracks the S&P 500 Growth Index, holding 297 stocks in its basket. With AUM of $2.9 billion, it has an expense ratio of 0.15% and has a Zacks ETF Rank #1 with a Medium risk outlook (read: 10 Best Performing Stocks of S&P 500 ETF).Vanguard Growth ETF VUGWith AUM of $2.9 billion, this fund follows the CRSP US Large Cap Growth Index, holding 279 stocks in its basket. It charges 4 bps in annual fees and has a Zacks ETF Rank #1 with a Medium risk outlook.iShares Russell Top 200 Growth ETF IWYThis fund offers exposure to 128 large U.S. companies, whose arnings are expected to grow at an above-average rate relative to the market by tracking the Russell Top 200 Growth Index. It has AUM of $1.6 billion and expense ratio of 0.20%. The ETF has a Zacks ETF Rank #1 with a Medium risk outlook.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vanguard Growth ETF (VUG): ETF Research Reports Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports iShares S&P 500 Growth ETF (IVW): ETF Research Reports iShares Russell 1000 Growth ETF (IWF): ETF Research Reports iShares Russell Top 200 Growth ETF (IWY): ETF Research Reports iShares Core S&P U.S. Growth ETF (IUSG): ETF Research Reports Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports Vanguard S&P 500 Growth ETF (VOOG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report