AQEC vs. MTUM

Last updated Jun 4, 2026

AQEC (AQE Core ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - AQEC is a Large Cap Blend Equities fund actively managed by Arlington Asset Management, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. AQEC is actively managed, while MTUM is passively managed. At a 0.38 correlation, their price movements are largely independent. AQEC charges 0.49%/yr vs 0.15%/yr for MTUM.

Performance

AQEC vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQE Core ETF (AQEC) 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, AQEC achieves a -7.82% return, which is significantly lower than MTUM's 31.75% return.

AQEC

• 1D: -1.34%
• 1M: -1.25%
• YTD: -7.82%
• 6M: -7.01%
• 1Y: —
• 3Y*: —
• 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)

AQEC vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025
AQEC AQE Core ETF	-7.82%	3.71%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	3.70%

Correlation

The correlation between AQEC and MTUM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.38

Return for Risk

AQEC vs. MTUM — Risk / Return Rank

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

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.

AQEC vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQE Core ETF (AQEC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AQEC	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.20	—
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	-0.67	0.85	-1.52

Drawdowns

AQEC vs. MTUM - Drawdown Comparison

The maximum AQEC drawdown since its inception was -12.81%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for AQEC and MTUM.

Drawdown Indicators

	AQEC	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-12.81%	-34.08%	+21.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.54%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.99%	—
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	-10.12%	0.00%	-10.12%
Average Drawdown Average peak-to-trough decline	-4.79%	-6.21%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.89%	—

Volatility

Volatility by Period

	AQEC	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	19.04%	-6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.07%	20.60%	-8.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.07%	21.03%	-8.96%

AQEC vs. MTUM - Expense Ratio Comparison

AQEC has a 0.49% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

AQEC vs. MTUM - Dividend Comparison

AQEC's dividend yield for the trailing twelve months is around 0.54%, less than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQEC AQE Core ETF	0.54%	0.13%	0.00%	0.00%	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 AQEC and MTUM in my portfolio?

AQEC and MTUM have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AQEC or MTUM?

On fees, MTUM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AQEC or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.49% for AQEC.

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

MTUM has the higher dividend yield at 0.60%, compared with 0.54% for AQEC.

What is the main difference between AQEC and MTUM?

AQEC is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Arlington Asset Management and iShares. Their fees differ too: 0.49% for AQEC and 0.15% for MTUM.