Momentum Beats Size in Oppenheimer’s U.S. Stock ETF Picks

Focusing on the fastest-rising U.S. stocks makes sense with larger and smaller companies by market value, according to Ari Wald, Oppenheimer & Co.’s chief technical analyst. Wald recommended buying exchange-traded funds linked to the MSCI USA Momentum and Dorsey Wright SmallCap Technical Leaders indexes in a report Saturday. Both indicators rose to records Monday relative to market indexes: the S&P 500 and the Russell 2000, respectively. Wald’s picks were the iShares MSCI USA Momentum Factor and Invesco DWA SmallCap Momentum ETFs.