Momentum ETFs: Keeping Up with the Times The iShares Edge MSCI USA Momentum Factor ETF (MTUM) is already up over 40% the past year, but more strength could be ahead as it shifts its focus to energy and financials exposure. MTUM seeks to track the investment results of the MSCI USA Momentum Index. MTUM generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. As far as the index goes, it consists of stocks exhibiting relatively higher momentum characteristics than the traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid-capitalization stocks. As of May 4, the fund’s holdings are primarily in big tech names like Microsoft and Apple, but that’s changing as the fund is set to undergo its semiannual re-balancing at the end of this month.