Overview
Momentum applied to the S&P MidCap 400 — the 79 strongest-trending mid caps, rebalanced twice yearly, in one of the factor's best long-run vehicles.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| FTI | TechnipFMC | 4.5% |
| ROIV | Roivant Sciences | 3.9% |
| ATI | ATI Inc. | 3.6% |
| DINO | HF Sinclair | 3.1% |
| UTHR | United Therapeutics | 2.7% |
| SNX | TD SYNNEX | 2.6% |
| MKSI | MKS Inc. | 2.4% |
| NVT | nVent Electric | 2.4% |
| JAZZ | Jazz Pharmaceuticals | 2.3% |
| RS | Reliance Inc. | 2.2% |
Fund Details
Investment Thesis
Momentum works best in the middle: mid caps trend longer than large caps and more reliably than small, and XMMO's record — including +38% in 2024 — made it the factor's standout fund at $6.6B. A flat trailing year is what momentum looks like mid-rotation; the semi-annual rebalance is about to re-aim the book at whatever leads next. For factor allocators, this is the purest mid-cap momentum instrument listed.
Who It's For
Factor investors who want momentum where it historically works hardest — the mid-cap sweet spot, systematically refreshed.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $31.03 | -- |
| 2017 | $42.46 | +36.8% |
| 2018 | $44.97 | +5.9% |
| 2019 | $61.14 | +35.9% |
| 2020 | $78.27 | +28.0% |
| 2021 | $90.94 | +16.2% |
| 2022 | $75.30 | -17.2% |
| 2023 | $89.81 | +19.3% |
| 2024 | $123.53 | +37.5% |
| 2025 | $138.46 | +12.1% |
| Year | Yield |
|---|---|
| 2016 | 0.25% |
| 2017 | 0.25% |
| 2018 | 0.19% |
| 2019 | 0.61% |
| 2020 | 0.90% |
| 2021 | 0.43% |
| 2022 | 1.42% |
| 2023 | 0.94% |
| 2024 | 0.35% |
| 2025 | 0.85% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1.4B | -- |
| 2017 | $1.9B | +35.7% |
| 2018 | $2B | +5.3% |
| 2019 | $2.8B | +40.0% |
| 2020 | $3.6B | +28.6% |
| 2021 | $4.2B | +16.7% |
| 2022 | $3.5B | -16.7% |
| 2023 | $4.2B | +20.0% |
| 2024 | $5.8B | +38.1% |
| 2025 | $6.6B | +13.8% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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