ADPV vs. MTUM

Last updated Jun 4, 2026

ADPV (Adaptiv Select ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - ADPV is a Large Cap Blend Equities fund actively managed by Adaptiv, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. ADPV is actively managed, while MTUM is passively managed. Over the past 3 years, ADPV returned 27.04%/yr vs 34.75%/yr for MTUM. A 0.67 correlation means they provide meaningful diversification when combined. ADPV charges 1.00%/yr vs 0.15%/yr for MTUM.

Performance

ADPV vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adaptiv Select ETF (ADPV) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADPV achieves a 10.73% return, which is significantly lower than MTUM's 31.75% return.

ADPV

• 1D: 0.06%
• 1M: 6.65%
• YTD: 10.73%
• 6M: 11.05%
• 1Y: 39.30%
• 3Y*: 27.04%
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.06%
• 1M: 15.90%
• YTD: 31.75%
• 6M: 32.38%
• 1Y: 41.76%
• 3Y*: 34.75%
• 5Y*: 15.21%
• 10Y*: 17.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADPV vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ADPV Adaptiv Select ETF	10.73%	21.19%	43.88%	-0.62%	0.57%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	9.15%	0.67%

Correlation

The correlation between ADPV and MTUM is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Nov 7, 2022	0.67

The correlation between ADPV and MTUM has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

ADPV vs. MTUM - Sectors Allocation Comparison

Sectors	ADPV	MTUM
Energy	23.7%	3.5%
Technology	15.1%	44.4%
Real Estate	11.8%	1.8%
Healthcare	11.6%	6.9%
Basic Materials	11.2%	1.7%
Consumer Cyclical	7.8%	3.6%
Communication Services	7.5%	7.4%
Utilities	7.2%	1.6%
Industrials	7.0%	15.6%
Financial Services	4.2%	10.4%
Consumer Defensive	-	3.3%

Return for Risk

ADPV vs. MTUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADPV

ADPV Risk / Return Rank: 47
ADPV Sharpe Ratio Rank: 46
ADPV Sortino Ratio Rank: 43
ADPV Omega Ratio Rank: 43
ADPV Calmar Ratio Rank: 56
ADPV Martin Ratio Rank: 50

MTUM

MTUM Risk / Return Rank: 67
MTUM Sharpe Ratio Rank: 64
MTUM Sortino Ratio Rank: 62
MTUM Omega Ratio Rank: 63
MTUM Calmar Ratio Rank: 71
MTUM Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADPV vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adaptiv Select ETF (ADPV) and iShares MSCI USA Momentum Factor ETF (MTUM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADPV	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.20	-0.56
Sortino ratio: Return per unit of downside risk	2.19	2.98	-0.79
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.84	3.64	-0.79
Martin ratio: Return relative to average drawdown	8.42	14.50	-6.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADPV vs. MTUM - Sharpe Ratio Comparison

The current ADPV Sharpe Ratio is 1.64, which is comparable to the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of ADPV and MTUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADPV	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	2.20	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.85	+0.13

Drawdowns

ADPV vs. MTUM - Drawdown Comparison

The maximum ADPV drawdown since its inception was -22.30%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for ADPV and MTUM.

Drawdown Indicators

	ADPV	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-22.30%	-34.08%	+11.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-11.54%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-22.30%	-20.99%	-1.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.47%	-6.21%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	2.89%	+1.79%

Volatility

ADPV vs. MTUM - Volatility Comparison

The current volatility for Adaptiv Select ETF (ADPV) is 5.94%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that ADPV experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADPV	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	7.68%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	16.94%	16.46%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	24.10%	19.04%	+5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	20.60%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.84%	21.03%	-0.19%

ADPV vs. MTUM - Expense Ratio Comparison

ADPV has a 1.00% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

ADPV vs. MTUM - Dividend Comparison

ADPV's dividend yield for the trailing twelve months is around 0.63%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADPV Adaptiv Select ETF	0.63%	0.70%	0.67%	0.22%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MTUM iShares MSCI USA Momentum Factor ETF	0.60%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%

Frequently Asked Questions

Can I hold both ADPV and MTUM in my portfolio?

ADPV and MTUM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADPV or MTUM?

MTUM has higher volatility (7.68%) compared to ADPV (5.94%). In terms of maximum drawdown, ADPV dropped -22.30% vs MTUM's -34.08%.

Which ETF is better, ADPV or MTUM?

On 3-year performance, MTUM leads with 34.75% vs 27.04% for ADPV. On fees, MTUM is cheaper at 0.15% per year. On volatility, ADPV has been the lower-risk option at 5.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADPV or MTUM?

Over the 3-year period, MTUM has performed better with a 34.75% return vs 27.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADPV or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 1.00% for ADPV.

Which ETF pays a higher dividend yield, ADPV or MTUM?

ADPV has the higher dividend yield at 0.63%, compared with 0.60% for MTUM.

What is the main difference between ADPV and MTUM?

ADPV is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Adaptiv and iShares. Their fees differ too: 1.00% for ADPV and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.