An ETF has been launched for momentum investors by Innovator Capital Management. Per the issuer, it is the only ETF that looks to capture "stock breakouts". Below we highlight the fund — IBD Breakout Opportunities ETF BOUT — in details (read: Momentum ETFs Soar to New Highs).Inside BOUTThe fund follows the IBD Breakout Stocks Index, which looks to provide investment exposure to those stocks, which have chances of breaking out, or “which can experience a period of continued price growth beyond its recent resistance level, with consideration for various market conditions.”A few points are noteworthy about this fund. The stock picks are based on Investor’s Business Daily’s research. The stocks are rebalanced weekly, higher weights going to the highest-ranked names, per the factsheet.“The IBD Breakout Stocks Index begins by identifying with companies that have strong fundamental indicators and uses a chart pattern recognition algorithm to select stocks for inclusion that are at or nearing breakout points,” said chief content officer of IBD, as quoted on etf.comThe fund holds 48 stocks in its portfolio charges 80 bps in fees. Financials (30.16%), Health Care (25.16%) and Information Technology (24.66%) are the top three stocks in the fund. No stock accounts for more than 4.13% of the fund. Tenable Holdings (4.13%), Focus Financial Partners (4.07%) and Cogent Communications (4.0%) round out the top three positions in the fund.How Does It Fit in a Portfolio? The strategy can be recognized as the momentum play, which could be intriguing to those seeking higher returns in a short spell. U.S. economic fundamentals are strong at present. Major indices like the S&P 500 and the Nasdaq hit all-time highs in the third quarter of 2018. Corporate earnings have come in upbeat as well.In such a scenario, investors willing to the reap benefits from the U.S. economy’s growth pocket, may choose to bet on BOUT. Also, BOUT is highly exposed to sectors (like financials and technology) that do well in a rising rate environment (that we are experiencing currently), thus ensuring decent returns.Healthcare has also been doing pretty good of late. And its non-cyclical nature should make it a decent performer in most market conditions. However, the U.S.-Sino trade war might weigh on the market as a whole (read: Healthcare ETFs to Buy on Solid Q2 Earnings Expectations).Competition Though there are other momentum ETFs in the field like iShares Edge MSCI USA Momentum Factor ETF MTUM, there is a subtle difference between those funds and BOUT. “While many ETFs focus on stocks with established momentum, BOUT seeks to identify companies before they have established momentum, and may offer investors unique exposure that can be utilized as an alternative or complement to momentum ETFs,” said CEO of Innovator Capital Management, as quoted on etf.com.Still, the fund may face competition from the likes of Invesco DWA Momentum ETF PDP, SPDR Russell 1000 Momentum Focus ETF ONEO. MTUM charges 15 bps, much lower than BOUT but PDP and ONEO charge 63 bps and 20 bps (read: High Beta, Momentum ETFs & Stocks to Trade in a Market Rally).Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ISHRS-MSCI US M (MTUM): ETF Research Reports SPDR-R1000 MF (ONEO): ETF Research Reports PWRSH-DWA MO PO (PDP): ETF Research Reports INNV-IBD BRK OP (BOUT): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report