Invesco S&P MidCap Momentum ETF gains 12% YTD by backing AI infrastructure mid-caps beyond mega tech firms.

The Invesco S&P MidCap Momentum ETF (XMMO) has risen over 12% year-to-date by investing in mid-cap companies that supply critical infrastructure for AI growth, such as semiconductor equipment and industrial technologies. Unlike funds focused on mega-cap tech giants, XMMO targets about 80 mid-sized firms with strong price momentum, including Sterling Infrastructure and MKS Inc., which have gained over 100%. The fund's mix of technology and industrial stocks positions it well to benefit from ongoing AI capital spending and infrastructure expansion. Investors should watch hyperscaler spending and quarterly holdings updates to track emerging AI leaders within the fund's portfolio.