5 Best Momentum ETFs To Buy

2. Invesco S&P 500 Momentum ETF (NYSE:SPMO)

5-Year Share Price Performance as of March 26: 105.22%

Invesco S&P 500 Momentum ETF (NYSE:SPMO) is designed to mirror the performance of the S&P 500 Momentum Index. This index comprises stocks from the S&P 500 Index with high “momentum scores,” with constituents weighted based on both market capitalization and their momentum score. As of March 25, 2024, Invesco S&P 500 Momentum ETF (NYSE:SPMO) holds a portfolio consisting of 100 stocks, with an expense ratio of 0.13%. The ETF was established on October 9, 2015. Invesco S&P 500 Momentum ETF (NYSE:SPMO) is one of the best momentum ETFs to buy. 

Microsoft Corporation (NASDAQ:MSFT) is one of the top holdings of Invesco S&P 500 Momentum ETF (NYSE:SPMO). On March 26, Wedbush Securities analyst Ives raised the price target on Microsoft Corporation (NASDAQ:MSFT) to $500 from $475 while maintaining an Outperform rating on the shares. The adjustment was prompted by “incrementally bullish” assessments of Microsoft’s artificial intelligence capabilities. 

According to Insider Monkey’s fourth quarter database, 302 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT), compared to 306 funds in the last quarter. 

Carillon Eagle Growth & Income Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) performed well after reporting strong earnings supported by accelerated growth from Azure. The cloud business is seeing consistent trends from optimization while AI has contributed strongly to its growth.”