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MOM U.S. Market Neutral Momentum Fund

  • ETF
  • MOM
    Pricing Data
    $26.04
    Change: $0.0 (0.0%)
    Time: 05/23/16
    Previous Close: $26.04
  • Category
  • Long-Short
Last Updated:

Profile

Vitals

Trading Data

Open: - Volume -
Day Lo - Day Hi -
  • 52 Week Lo: $23.75
  • 52 Week Hi: $34.99
  • AUM: $3.9 M
  • Shares: 0.2 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume: 2,911
  • 3 Month Avg. Volume: 4,441

Alternative ETFs in the Long-Short Category

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Type Ticker Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest
Largest (AUM)
Most Liquid (Volume)
Top YTD Performer

Analyst Report

This ETF is part of a suite of "market neutral" products offered by QuantShares, a unique lineup of funds that has the potential to appreciate (or lose value) in any type of market. Because MOM maintains equal long and short dollar positions, its performance is independent of the overall U.S. stock market; rather, it depends on how certain sub-sets (or factors) of the U.S. equity market perform relative to one another. As such, these securities can be used in a number of different ways. Since it should exhibit very low correlations to both stock and bond markets (MOM should have a beta of close to zero), some may see this ETF as a tool for smoothing out portfolio volatility--essentially a diversifying agent within traditional stock-and-bond portfolios. Others who believe the methodology has the potential to exploit market inefficiencies may see it as a means of generating alpha over both long and short time periods. Specifically, MOM is designed to capture the spread return between high momentum stocks and low momentum stocks; the portfolio maintains long positions in high momentum U.S. equities and short positions in low momentum U.S. equities (QuantShares also offers NOMO, which swaps the long and short exposure). Given this objective, MOM can be generally expected to perform well when recent trends continue, and poorly if recent laggards of the stock market reverse course. But MOM will exhibit far less volatility than a traditional long position in stocks with high momentum; returns will be limited to the differential between these two segments of the U.S. equity market, and should be expected to be close to zero over the long haul. This investment approach is certainly nothing new; investors have been implementing momentum-based allocation strategies designed to capture the spreads between asset classes or sub-classes for decades. But the availability of this strategy within the ETF wrapper is a new innovation; it gives investors an opportunity to access a technique that may be time consuming and quite expensive if implemented individually through a single ticker symbol that brings all the efficiencies of ETFs. There are a couple noteworthy aspects of MOM (and all QuantShares ETFs for that matter). The underlying portfolios are sector neutral, which ensures that the fund isn't simply long in corners of the market that have performed well recently and short sectors that have been the laggards over the last year or so; rather, MOM consists of both long and short positions in each sector of the market. Moreover, individual positions are equal weighted, which ensures that no one stock will dominate either the long or short positions in the portfolio. For investors who are seeking a low maintenance way to implement a momentum-focused strategy, MOM could be an attractive option. Others wishing to customize the exposure achieved may wish to stick to "do it yourself" sector rotation strategies or other long/short techniques based on other metrics. This ETF could also be a useful tool for investors looking to bet on continued strong performance from market leaders, but unwilling to take on the risk of loss that comes with a traditional long-only strategy. The most significant drawback we see to this ETF is the relatively high expense ratio charged. Because the underlying portfolio is market neutral (it is comprised of equal long and short positions), it would be reasonable to expect that long-term performance, before fees, should be close to zero. After taking out 80 basis points or so in expenses, that makes it likely that MOM will lose money over the long haul, especially if markets move sideways or trend downwards over the long run. MOM's appeal lies in its low volatility and low maintenance access to an in-depth investment strategy, not in its potential for impressive long-term performance.

Realtime Rating

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Realtime Rating Summary

The adjacent table gives investors an individual Realtime Rating for MOM on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Long-Short with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Compare to another ETF

View the Category Report

MOM Overall Realtime Rating:

A+ Overall Rated ETF:

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity B- RALS
Expenses C+ CSLS
Performance
Volatility
Dividend
Concentration

Knowledge Centers

MOM In-Depth Analysis

The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its ETFdb Category.

MOM Holdings

Filings Data as of: May 03, 2016
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Concentration Analysis

This section compares how balanced and deep this ETF is relative to the peer group ETFdb Category.

Number of Holdings
Rank:
203
Category Low
Category High
% Assets in Top 10
Rank:
28.97%
Category Low
Category High

MOM Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same ETFdb Category.

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Expenses Ratio Analysis

ETF Average
0.584%
ETF Wtd. Average
0.28%
Category Average
0.92%
Expense Ratio
Rank:
1.49%
Category Low
Category High

Commission Free Trading

This ETF is not currently available for commission free trading on any platforms.

Category Commission Free Trading

There are 2 other ETFs in the Long-Short ETFdb Category that are also eligible for commission free trading:

MOM Performance

This section shows how this ETF has performed relative to its peer group ETFdb Category.

1 Week Return
Rank:
-0.50%
Category Low
Category High
4 Week Return
Rank:
6.98%
Category Low
Category High
13 Week Return
Rank:
-2.73%
Category Low
Category High
26 Week Return
Rank:
-9.14%
Category Low
Category High
Year to Date Return
Rank:
-5.72%
Category Low
Category High
1 Year Return
Rank:
9.64%
Category Low
Category High
3 Year Return
Rank:
9.60%
Category Low
Category High
5 Year Return
Rank:
No Ranking Available
Category Low
Category High

Charts

The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.

The following chart also includes the option to compare the performance of MOM relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.

MOM Valuation

This section shows how the P/E multiple of this ETF compares to the peer group ETFdb Category.

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P/E Ratio
Rank:
21.69
Category Low
Category High

MOM Dividend

This section shows how the dividend yield of this ETF compares to the peer group ETFdb Category.

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Dividend
$0.62
Dividend Date
2011-12-20
Annual Dividend Rate
n/a
Annual Dividend Yield
Rank:
No Ranking Available
Category Low
Category High

MOM Technicals

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Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb Category.

5 Day Volatility
Rank:
20.45%
Category Low
Category High
20 Day Volatility
Rank:
16.76%
Category Low
Category High
50 Day Volatility
Rank:
22.26%
Category Low
Category High
200 Day Volatility
Rank:
25.07%
Category Low
Category High
Beta
Rank:
-1.99
Category Low
Category High
Standard Deviation
Rank:
1.61%
Category Low
Category High

Technicals

  • 20 Day MA: $25.20
  • 60 Day MA: $25.51
  • MACD 15 Period: 0.57
  • MACD 100 Period: -0.50
  • Williams % Range 10 Day: 21.05
  • Williams % Range 20 Day: 7.96
  • RSI 10 Day: 65
  • RSI 20 Day: 56
  • RSI 30 Day: 52
  • Ultimate Oscillator: 64

Bollinger Brands

  • Lower Bollinger (10 Day): $25.52
  • Upper Bollinger (10 Day): $26.39
  • Lower Bollinger (20 Day): $23.69
  • Upper Bollinger (20 Day): $26.75
  • Lower Bollinger (30 Day): $23.96
  • Upper Bollinger (30 Day): $26.54

Support & Resistance

  • Support Level 1: n/a
  • Support Level 2: $26.04
  • Resistance Level 1: n/a
  • Resistance Level 2: $26.04

Stochastic

  • Stochastic Oscillator %D (1 Day): 40.21
  • Stochastic Oscillator %D (5 Day): 60.24
  • Stochastic Oscillator %K (1 Day): 37.71
  • Stochastic Oscillator %K (5 Day): 67.04

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.

2014 Morningstar, Inc. All Rights Reserved. The information contained herein: ( 1 ) is proprietary to Morningstar and/or its content providers; ( 2 ) may not be copied or distributed; and ( 3 ) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.