APUE vs. MTUM

Last updated Jun 4, 2026

APUE (ActivePassive U.S. Equity ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - APUE is a Large Cap Blend Equities fund actively managed by ActivePassive, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. APUE is actively managed, while MTUM is passively managed. Over the past 3 years, APUE returned 22.12%/yr vs 34.75%/yr for MTUM. Their correlation of 0.86 suggests significant overlap in exposure. APUE charges 0.33%/yr vs 0.15%/yr for MTUM.

Performance

APUE vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive U.S. Equity ETF (APUE) 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, APUE achieves a 10.99% return, which is significantly lower than MTUM's 31.75% return.

APUE

• 1D: -0.58%
• 1M: 4.97%
• YTD: 10.99%
• 6M: 11.14%
• 1Y: 29.02%
• 3Y*: 22.12%
• 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)

APUE vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APUE ActivePassive U.S. Equity ETF	10.99%	17.49%	23.89%	18.42%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	13.68%

Correlation

The correlation between APUE and MTUM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.86

The correlation between APUE and MTUM has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

APUE vs. MTUM - Sectors Allocation Comparison

Sectors	APUE	MTUM
Technology	34.8%	44.4%
Financial Services	11.9%	10.4%
Consumer Cyclical	10.7%	3.6%
Communication Services	10.5%	7.4%
Industrials	9.4%	15.6%
Healthcare	8.8%	6.9%
Consumer Defensive	4.8%	3.3%
Energy	3.3%	3.5%
Basic Materials	2.1%	1.7%
Utilities	1.9%	1.6%
Real Estate	1.8%	1.8%

Return for Risk

APUE vs. MTUM — Risk / Return Rank

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

APUE

APUE Risk / Return Rank: 73
APUE Sharpe Ratio Rank: 74
APUE Sortino Ratio Rank: 73
APUE Omega Ratio Rank: 73
APUE Calmar Ratio Rank: 66
APUE Martin Ratio Rank: 78

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.

APUE vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive U.S. Equity ETF (APUE) 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.

	APUE	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.20	+0.19
Sortino ratio: Return per unit of downside risk	3.29	2.98	+0.31
Omega ratio: Gain probability vs. loss probability	1.43	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	3.24	3.64	-0.39
Martin ratio: Return relative to average drawdown	15.17	14.50	+0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APUE vs. MTUM - Sharpe Ratio Comparison

The current APUE Sharpe Ratio is 2.39, which is comparable to the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of APUE 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

	APUE	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.20	+0.19
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	1.61	0.85	+0.76

Drawdowns

APUE vs. MTUM - Drawdown Comparison

The maximum APUE drawdown since its inception was -18.83%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for APUE and MTUM.

Drawdown Indicators

	APUE	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	-34.08%	+15.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-11.54%	+2.56%
Max Drawdown (3Y) Largest decline over 3 years	-18.83%	-20.99%	+2.16%
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	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-2.07%	-6.21%	+4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.89%	-0.97%

Volatility

APUE vs. MTUM - Volatility Comparison

The current volatility for ActivePassive U.S. Equity ETF (APUE) is 2.84%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that APUE 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

	APUE	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	7.68%	-4.84%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	16.46%	-7.38%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	19.04%	-6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.65%	20.60%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.65%	21.03%	-6.38%

APUE vs. MTUM - Expense Ratio Comparison

APUE has a 0.33% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

APUE vs. MTUM - Dividend Comparison

APUE's dividend yield for the trailing twelve months is around 0.75%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APUE ActivePassive U.S. Equity ETF	0.75%	0.83%	0.79%	0.41%	0.00%	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 APUE and MTUM in my portfolio?

APUE and MTUM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APUE or MTUM?

MTUM has higher volatility (7.68%) compared to APUE (2.84%). In terms of maximum drawdown, APUE dropped -18.83% vs MTUM's -34.08%.

Which ETF is better, APUE or MTUM?

On 3-year performance, MTUM leads with 34.75% vs 22.12% for APUE. On fees, MTUM is cheaper at 0.15% per year. On volatility, APUE has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APUE or MTUM?

Over the 3-year period, MTUM has performed better with a 34.75% return vs 22.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APUE or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.33% for APUE.

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

APUE has the higher dividend yield at 0.75%, compared with 0.60% for MTUM.

What is the main difference between APUE and MTUM?

APUE is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: ActivePassive and iShares. Their fees differ too: 0.33% for APUE and 0.15% for MTUM.

Which has better risk-adjusted returns?

APUE currently has the higher Sharpe Ratio (2.39 vs 2.20), 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.