Alright, so Chipotle commanding a weight of less 0.92% in an ETF like XLY is understandable given the restrictions of cap weighting. Momentum-based discretionary sector ETFs, such as PEJ and thePowerShares DWA Consumer Cyclicals Momentum Portfolio (NYSEArca: PEZ), make for plausible homes for the burrito giant. [Burritos, Coffee and Donuts in This ETF]

However, those ETFs have opted for the likes of Sonic (NasdqGS: SONC), Jack in the Box (NasdaqGS: JACK) and Domino’s Pizza (NYSE: DPZ), among others, over Chipotle.

Chipotle fitting the bill as an ideal holding for a momentum ETF is confirmed by the fact that it commands a weight of nearly 1.7% in the $1.91 billion Powershares DWA Momentum Portfolio (NYSEArca: PDP).

PDP, which debuted in March 2007, tracks the Dorsey Wright Technical Leaders Index, “which takes into account, among other factors, the performance of each of the approximately 1,000 largest companies in the eligible universe as compared to a benchmark index, and the relative performance of industry sectors and sub-sectors,” according to PowerShares.

In seven of the past eight years, PDP has topped the S&P 500. Now it can lay claim to being one of a scant amount of ETFs with somewhat decent Chipotle exposure.

Powershares DWA Momentum Portfolio