February | 2018 | iMarketSignals

As of Feb-24-2018 VFMO holds 637 Russell 3000 stocks, selected according to a rules-based screen for relatively strong recent performance and liquidity. They show a 1-year average return of 62%.
Using similar screening criteria we selected a portfolio of 639 stocks on Feb-24-2018 which had a 1-year average return of 71%. It holds 501 stocks in common with VFMO.
Similar screening rules selected 576 stocks on Feb-24-2017 which showed an average return of 105% over the preceding year, but 0% return over the following 6 months to Aug-24-2018.
Vanguard’s easily replicated selection process appears to be greatly influenced by survivorship bias. It is unlikely that VFMO will show a higher return than MTUM or SPY in the future.