The fund has a history of accurately predicting the price movements of electric vehicle maker Tesla Inc.'s (NASDAQ:TSLA) shares.

Match Group has a 3.65% weighting in the AMOM portfolio, followed by Fortinet and O’Reilly with 3.5% weighting each.

The other two stocks that make up the top five holdings in AMOM include auto parts retailer AutoZone Inc. (NYSE:AZO) with a 3.1% weighting and enterprise technology company Zebra Technologies Corp. (NASDAQ:ZBRA) with 2.7%.

AMC Entertainment has been added to the portfolio this month with a 2.34% weighting. The movie theater chain's stock is up 2078% year-to-date thanks to a short squeeze conducted by retail investors that refer to themselves as "apes."

Prior to the rebalancing, the ETF had Facebook, Walmart, Home Depot, Adobe and Texas Instruments as its five largest stock holdings.

See Also: Best Exchange Traded Funds

Why It Matters: AMOM, a product of South Korea-based fintech group Qraft, tracks 50 large-cap U.S. stocks and reweighs its holdings each month. The fund uses AI technology to automatically search for patterns that have the potential to produce excess returns and construct actively managed portfolios.

AMOM has delivered year-to-date returns of almost 15.1%, compared to its benchmark – the Invesco S&P 500 Momentum ETF (NYSE:SPMO) – which has returned 14.4% so far this year.

The fund said last week that it has surpassed an important milestone of $50 million in assets under management (AUM), an increase of nearly 1,500% from its $4.22 million total in August last year.

Price Action: Match Group shares closed almost 2.8% higher in Friday’s trading session at $162.63, while Fortinet shares closed 1.5% higher at $256.81.

O’Reilly Automotive shares closed 1.7% higher in Friday’s trading session at $591.65.

Read Next: 5 ETFs To Watch In The Second Half Of 2021

Photo by Samantha Celera on Flickr