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Sunday, August 23, 2026The Morning Brief →Sign in

Invesco S&P 500 Momentum ETF

$148.73+0.28% today
10816252-WK

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of approximately 100 stocks in the S&P 500® Index that have the highest "momentum score." In general, momentum is the tendency of an investment to exhibit persistence in its relative performance; a "momentum style" of investing emphasizes investing in securities that have had better recent performance compared to other securities. It is non-diversified.

Price & daily flows
150.1134.8119.4148.73DAILY NET FLOWAug 22Mar 18Jun 3Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN · NET +$6.7B OVER THIS RANGE

The desk’s read

Money keeps arriving — +$641M of net buying over the past month, about 2.9% of the fund's asset base, while the price has returned +23.3% so far this year. At 0.13% a year it is not the cheapest way in — IVV runs the same ground at 0.03%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$22.1Bassets under management
0.13%expense ratio · $13 per $10,000 a year
+$641Mnet flow, trailing month
2Mavg daily volume, 30 days
101holdings · US-domiciled
2015listed October 8, 2015 · beta 1.50
The book at a glance
MU-0.8%NVDA-1.0%AVGO+1.2%JNJ+1.1%GOOGL+1.2%AMD+0.8%LRCX+1.1%GOOG+1.0%XOM-0.6%CAT+1.5%INTC-2.2%SNDK-0.3%AMAT-0.8%CSCO+1.3%STX-0.0%GE+1.1%RTX-1.1%PLTR+3.4%WDC-2.0%GS+3.7%KO+0.7%PM-1.7%APH+2.5%KLAC-1.0%GEV-0.9%NEM+3.1%C+1.5%MS+3.3%GILDWELL+0.8%GLW-1.1%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1MUMICRON TECHNOLOGY10.92%$966.78-0.8%
2NVDANVIDIA8.81%$214.72-1.0%
3AVGOBROADCOM6.26%$368.45+1.2%
4JNJJOHNSON & JOHNSON4.64%$270.24+1.1%
5GOOGLALPHABET4.37%$344.82+1.2%
6AMDADVANCED MICRO DEVICES3.82%$473.25+0.8%
7LRCXLAM RESEARCH3.50%$314.00+1.1%
8GOOGALPHABET3.47%$341.75+1.0%
9XOMEXXON MOBIL3.24%$165.11-0.6%
10CATCATERPILLAR2.46%$827.90+1.5%
11INTCINTEL2.41%$90.07-2.2%
12SNDKSandisk Corporation 2.36%$1596.08-0.3%
13AMATAPPLIED MATERIALS1.98%$492.32-0.8%
14CSCOCISCO SYSTEMS1.86%$111.04+1.3%
15STXSEAGATE TECHNOLOGY HOLDINGS1.84%$850.00-0.0%

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Sector weights
Information Technology50.52%
Technology50.34%
Electronic Technology23.3%
Technology Services18.64%
Health Technology14.31%
Consumer Discretionary13.89%
Producer Manufacturing13.09%
Consumer Cyclical10.74%
Communication Services10.15%
Healthcare9.42%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States100%
Ireland2.05%
Switzerland1.23%
United Kingdom0.92%
Canada0.18%
Other0.15%
Bermuda0.14%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-3.0%
1 month-0.7%
3 months+2.6%
6 months+24.6%
YTD+23.3%
1 year+27.7%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week+$242M
1 month+$641M
3 months+$2.8B
YTD+$5.5B
1 year+$6.7B

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
JunJulAugSepOctFebMarAprMayJunJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
33%realized volatility, 30 days (annualized)
28%realized volatility, 1 year
-15.6%deepest fall from a peak, 1 year
-8.0%where it sits vs. that peak today

The top holding is 10.9% of the book; the top ten carry 51%. Spread across 100+ names, it behaves like roughly 26 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
614calls today
514puts today
0.84put/call ratio
1.2Mshares traded
Most-traded holdings, options premiumBullishBearish
MU MICRON TECHNOLOGY$562M$679M
PLTR PALANTIR$248M$504M
NVDA NVIDIA$348M$395M
SNDK Sandisk Corporation $357M$331M
AMD ADVANCED MICRO DEVICES$201M$188M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against SPMO

Due diligence cuts both ways. These funds sit on the same shelf and beat SPMO on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
ITOT iShares Core S&P Total U.S. Stock Market ETF0.03%$97.9B+$245M-10bp on fee · 4× the assets · +$245M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$128.4B+$547M-8bp on fee · 6× the assets · +$547M in over the monthHead-to-head
IUSG iShares Core S&P U.S. Growth ETF0.04%$33.8B+$668M-9bp on fee · 2× the assets · +$668M in over the monthHead-to-head
IUSV iShares Core S&P U.S. Value ETF0.04%$28.1B+$103M-9bp on fee · +$103M in over the monthHead-to-head
IVV iShares Core S&P 500 ETF0.03%$900.9B−$14.2B-10bp on fee · 41× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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