Invesco Russell 1000 Momentum Factor ETF
OMOM
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- Invesco Russell 1000 Momentum Factor ETF (OMOM) is an exchange-traded fund that seeks to track the investment results, before fees and expenses, of the Russell 1000 Momentum Factor Index. The underlying index re-weights securities from the Russell 1000 Index based on total return momentum over the last 11 months, selecting a subset of the top-ranked large-cap names; the fund holds approximately 605 securities with about 28% of assets in the top 10 holdings, focusing on large-cap growth equities in sectors such as technology and consumer discretionary. It provides investors with exposure to U.S. large-cap momentum strategies through passive index replication, distributing dividends periodically and rebalancing semi-annually. Launched on November 8, 2017, by OppenheimerFunds as part of its factor-based ETF lineup, OMOM was reorganized into Invesco's ETF family following Invesco's 2019 acquisition of OppenheimerFunds in a tax-free transaction that consolidated the funds onto a single platform. The ETF, domiciled in the United States and listed on U.S. exchanges, operated from Invesco Exchange-Traded Fund Trust's headquarters in Downers Grove, Illinois. Geographically, its holdings are concentrated in U.S.-based companies, with no significant international exposure. In a major recent development, OMOM was liquidated by Invesco, with the fund marked as delisted and no longer trading as of the latest available data. This closure aligns with Invesco's ongoing product rationalization efforts, including multiple ETF shutdowns in prior years due to low assets under management and economic viability concerns, though specific 2024-2025 funding rounds, acquisitions, or new launches for OMOM were not reported. Target customers include institutional and retail investors seeking factor-tilted large-cap equity exposure.