The iShares MSCI USA Momentum ETF (MTUM) just had a rebalance with abnormally high turnover after missing the artificial intelligence boom.
The excitement around artificial intelligence that sent Nvidia and a few other tech stocks soaring in the first half of 2023 happened so quickly that a massive momentum fund is now playing catch-up. The biggest momentum ETF, the iShares
mountain The biggest momentum ETF has struggled in 2023. "With momentum, because you are buying the stocks that are up the most, if you do it at a random time — which MTUM seemingly is — there is huge risk you miss out on a large chunk of a move or you're holding on to losers way too late. Momentum is very time sensitive," said Strategas ETF strategist Todd Sohn.
uses a combination of six- and 12-month price momentum metrics to create a momentum score for stocks, according to the firm's methodology document . The
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