OriginaveMSCI USA Momentum SR Variant Index
What the MSCI USA Momentum SR Variant Index is, where it lives officially, and how its ride has looked over the years.
What does the MSCI USA Momentum SR Variant Index track?
About 125 large US companies that have been winning lately — the index looks at the past six and twelve months and buys what is already going up. No opinion on cheap or expensive; the trend is the whole thesis.
Momentum is the "hot hand" of investing: it works more often than it has any right to, until it suddenly doesn't. The SR Variant simply spreads rebalancing over three days so an $18-billion fund can follow it without moving the market.
MSCI
MTUM since 2013
The chart shows the dividend-adjusted share price of MTUM, the ETF tracking this index — not the raw index level. The shape of the ride is the same.
MTUM returns by year (USD)
| Year | Total return |
|---|---|
| 2026 (so far) | +37.24% |
| 2025 | +22.15% |
| 2024 | +32.89% |
| 2023 | +9.15% |
| 2022 | -18.27% |
| 2021 | +13.36% |
| 2020 | +29.86% |
| 2019 | +27.25% |
| 2018 | -1.67% |
| 2017 | +37.50% |
| 2016 | +5.00% |
| 2015 | +8.91% |
| 2014 | +14.62% |
| 2013 | +19.21% |
Calendar-year total returns of MTUM in USD, dividends reinvested — the ETF tracking this index, not the raw index level.