The biggest momentum ETF, the iShares MSCI USA Momentum ETF (MTUM) , rebalanced in the final days of May and now has Nvidia as the biggest holding in its portfolio, at about 6.3%. MTUM YTD mountain The biggest momentum ETF has struggled in 2023. How the index works The MSCI USA Momentum Index attempts to capture hot stocks, with the hope their rally will continue over the coming months. The MSCI USA Momentum Index is rebalanced every six months, with the most recent update taking effect June 1. There are other momentum funds with different methodologies that rebalance more frequently, such as the Invesco DWA Momentum ETF (PDP) and the Alpha Architect U.S. Quantitative Momentum ETF (QMOM) , which have outperformed MTUM this year, but those two funds are still trailing the S & P 500.

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Persons: MTUM, Todd Sohn, Abhishek Gupta, Roman Mendoza, Strategas, Sohn, we've Organizations: Nvidia, ExxonMobil, Chevron, Meta, Microsoft, ETF, Alpha Architect