Invesco S&P 500 Momentum ETF
SPMO
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- Invesco S&P 500 Momentum ETF (SPMO) is an exchange-traded fund that seeks to track the performance of the S&P 500 Momentum Index by investing at least 90% of its total assets in the common stocks comprising the index; the index measures the performance of approximately 100 securities from the S&P 500 Index exhibiting the highest momentum scores, calculated as 12-month price performance excluding the most recent month, adjusted for volatility and weighted by market capitalization and momentum score. The fund holds around 99-100 large-cap U.S. equities, with top holdings including NVIDIA Corp., Broadcom Inc., Meta Platforms Inc., JPMorgan Chase & Co., Palantir Technologies Inc., Netflix Inc., Oracle Corp., Visa Inc., Walmart Inc., and Cisco Systems Inc.; it maintains semi-annual reconstitution and rebalancing on the third Fridays of March and September to reflect momentum shifts. Launched on October 9, 2015, and listed on NYSE Arca, SPMO is managed passively by Invesco Capital Management LLC, a subsidiary of Invesco Ltd., an independent global investment management firm founded in 1935 and headquartered in Atlanta, Georgia. The fund primarily targets U.S. investors seeking exposure to momentum-driven large-cap equities across sectors such as information technology (over 34%), financials (nearly 20%), and communication services (over 16%), with net assets exceeding $13 billion as of late 2025. In September 2025, SPMO underwent its semi-annual reconstitution, adding 41 stocks including Oracle Corp., Visa Inc., Cisco Systems Inc., and Charles Schwab Corp. while deleting 40 others such as Amazon.com Inc. and Tesla Inc., resulting in a refreshed portfolio of 100 holdings that intensified sector concentrations in technology, finance, and industrials while enhancing its momentum thesis. Invesco Ltd., SPMO's sponsor, has pursued broader ETF expansion in 2025, launching three new active ETFs in May (Invesco QQQ Hedged Advantage ETF, Invesco Comstock Contrarian Equity ETF, and Invesco Managed Futures Strategy ETF) and introducing thematic products like the Invesco India Consumption Fund in October and the Invesco Emerging Markets Enhanced Equity UCITS ETF in September, alongside growing its active ETF lineup to 31 products by mid-year. These developments reflect Invesco's strategic focus on innovation amid robust inflows into SPMO, which more than doubled in assets during 2025 to surpass $13 billion.