Cheap FTSE 100 growth stocks and ETFs to consider in November!

Looking for high growth stocks and exchange traded funds (ETFs) to buy next month? Here are two stellar purchases that recently caught my attention. I think it's worth considering.

HSBC

A banking giant HSBC (LSE:HSBA) has enjoyed double-digit earnings growth in recent years. And despite the slowdown in China's economy, it is expected to follow this with a bottom-line increase of 9% in 2024.

This therefore leaves the FTSE 100 the share at a forward price-to-earnings (P/E) ratio of 7.1 times. It also trades at a price-to-earnings growth (PEG) ratio of 0.8.

A reminder that any reading below 1 suggests that sharing has been neglected.

On the other hand, I understand the low valuation of HSBC shares. China's economy is locked in a period of low growth. And as in previous years, this may continue despite the new monetary stimulus.

Additionally, as interest rates gradually decline, margins across the banking sector may face increased downward pressure.

However, I also believe that HSBC has a lot of growth potential that its current cheapness does not indicate. So I think long-term hunters should seriously consider the bank.

Driven by a combination of population growth and improving personal wealth, demand for financial services is set to grow across its Asian markets. The situation is particularly prominent in the bank's wealth management division, where it invests a lot of money.

HSBC's strong balance sheet gives it a solid platform to grow with. Its CET1 ratio was 15% in June, ahead of the bank's target of 14-14.5%.

Growth investors with a high risk tolerance may wish to consider VanEck Rare Earth and Strategic Metals ETF (LSE:REGB).

As the chart shows, the fund has fallen in value as recent disappointing electric vehicle (EV) sales have dampened industry growth. It means that, since its inception in 2021, the ETF has delivered a negative return of 23.3%.

The EV industry uses a large amount of rare earth, where it is used to make motor magnets and batteries. This explains the disappointing fund performance.

However, I think it is likely to continue. Many of the world's rare earth producers (and especially lithium stocks) appear to be oversold, which could lead to a sharp re-rating when market confidence improves. Funds such as Albemarle again MP Materials for example look cheap to me.

Demand for the so-called strategic metals is said to increase over the next decade, which could pull the ETF higher. McKinsey & Company analysts expect the world's consumption of rare earths to increase by 125% between 2023 and 2035.

Demand for lithium, meanwhile, is expected to grow by 475% during that time.

The growth in demand will not only be fueled by the EV industry either. Consumer electronics, renewable energy, aerospace and robotics components will also absorb more metals.

By diversifying into 24 mining stocks, VanEck's ETF means its investors can spread their risk. There may be more volatility in the short term, but in the long run it may bring great benefits so research should be done now.