Core Insights - Invesco S&P 500 Momentum ETF (SPMO) is perceived by many investors as a top choice for growth exposure, but its long-term performance may not align with this perception [1] - The analysis emphasizes the importance of cash flow potential, relative value, and economic moat in evaluating equities [1] Investment Analysis - The ETF currently includes many high-growth names, but this may change in the future [1] - The analysis combines fundamental and technical approaches to enhance the success rate of investment ideas [1] Analyst Background - The analyst has extensive experience in public accounting and holds master's degrees in accounting and economics [1] - The analyst has a background in researching sovereign debt defaults and has transitioned to focus on investment writing and education [1]

ETF Market Trends & Inflows - ETF net inflows have topped $1 trillion for the second consecutive year and are on pace for a new record year [1][2] - The growth is attributed to transparency, liquidity, tax efficiency, and innovation within the ETF wrapper, including options-based strategies [3][6] - Demand for growth-type exposure, particularly in AI and innovation, is driving inflows [5] - Actively managed ETFs are attracting more investors, accounting for approximately 37% of inflows compared to 26% in 2024, due to the accessibility of sophisticated strategies [13] Top ETF Inflows & Market Sentiment - Top inflows this week were into BBEU (a large-cap European stock ETF), GLD (gold ETF), and BNDX (Vanguard Total Bond ETF) [7] - The shift towards European equities and bonds may be due to tariff concerns and government shutdown fears, prompting investors to seek safer, more stable markets and fixed income exposure [8][9] ETF Innovation & Investment Strategies - Sophisticated options-based approaches within ETFs are giving investors access to solutions they haven't had historically [4][6] - Horizon's "Why Not" digital frontier ETF offers a one-stop-shop solution for exposure to growth, AI, crypto, and quantum, with dynamic weightings [10][11] - Actively managed ETFs allow for layering crypto exposure on top of stock baskets using options and other approaches [15]