ARKB vs. MTUM

Last updated Jun 16, 2026

ARKB (ARK 21Shares Bitcoin ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - ARKB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past year, ARKB returned -36.82% vs 46.22% for MTUM. At a 0.40 correlation, their price movements are largely independent. ARKB charges 0.21%/yr vs 0.15%/yr for MTUM.

Performance

ARKB vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK 21Shares Bitcoin ETF (ARKB) 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, ARKB achieves a -23.93% return, which is significantly lower than MTUM's 33.55% return.

ARKB

• 1D: 4.79%
• 1M: -15.85%
• YTD: -23.93%
• 6M: -22.44%
• 1Y: -36.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 2.96%
• 1M: 11.98%
• YTD: 33.55%
• 6M: 34.98%
• 1Y: 46.22%
• 3Y*: 33.86%
• 5Y*: 15.90%
• 10Y*: 17.54%

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

ARKB vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ARKB ARK 21Shares Bitcoin ETF	-23.93%	-6.59%	86.54%
MTUM iShares MSCI USA Momentum Factor ETF	33.55%	22.15%	31.70%

Correlation

The correlation between ARKB and MTUM is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.40

Return for Risk

ARKB vs. MTUM — Risk / Return Rank

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

ARKB

ARKB Risk / Return Rank: 3
ARKB Sharpe Ratio Rank: 3
ARKB Sortino Ratio Rank: 3
ARKB Omega Ratio Rank: 3
ARKB Calmar Ratio Rank: 3
ARKB Martin Ratio Rank: 3

MTUM

MTUM Risk / Return Rank: 79
MTUM Sharpe Ratio Rank: 77
MTUM Sortino Ratio Rank: 72
MTUM Omega Ratio Rank: 76
MTUM Calmar Ratio Rank: 83
MTUM Martin Ratio Rank: 84

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.

ARKB vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK 21Shares Bitcoin ETF (ARKB) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ARKB	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	2.21	-3.04
Sortino ratio: Return per unit of downside risk	-1.12	2.90	-4.02
Omega ratio: Gain probability vs. loss probability	0.87	1.40	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.71	4.02	-4.73
Martin ratio: Return relative to average drawdown	-1.24	15.48	-16.72

ARKB vs. MTUM - Sharpe Ratio Comparison

The current ARKB Sharpe Ratio is -0.84, which is lower than the MTUM Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ARKB 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.

Drawdowns

ARKB vs. MTUM - Drawdown Comparison

The maximum ARKB drawdown since its inception was -52.04%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for ARKB and MTUM.

Drawdown Indicators

	ARKB	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-52.04%	-34.08%	-17.96%
Max Drawdown (1Y) Largest decline over 1 year	-52.04%	-11.54%	-40.50%
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	-47.03%	0.00%	-47.03%
Average Drawdown Average peak-to-trough decline	-16.61%	-6.20%	-10.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.75%	2.99%	+26.76%

Volatility

ARKB vs. MTUM - Volatility Comparison

ARK 21Shares Bitcoin ETF (ARKB) has a higher volatility of 12.88% compared to iShares MSCI USA Momentum Factor ETF (MTUM) at 11.20%. This indicates that ARKB's price experiences larger fluctuations and is considered to be riskier than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKB	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.88%	11.20%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	34.67%	18.83%	+15.84%
Volatility (1Y) Calculated over the trailing 1-year period	44.23%	21.08%	+23.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.14%	20.99%	+29.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.14%	21.23%	+28.91%

ARKB vs. MTUM - Expense Ratio Comparison

ARKB has a 0.21% expense ratio, which is higher than MTUM's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ARKB vs. MTUM - Dividend Comparison

ARKB has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%	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	0.70%	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 ARKB and MTUM in my portfolio?

ARKB and MTUM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKB or MTUM?

ARKB has higher volatility (12.88%) compared to MTUM (11.20%). In terms of maximum drawdown, ARKB dropped -52.04% vs MTUM's -34.08%.

Which ETF is better, ARKB or MTUM?

On 1-year performance, MTUM leads with 46.22% vs -36.82% for ARKB. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 11.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKB or MTUM?

Over the 1-year period, MTUM has performed better with a 46.22% return vs -36.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKB or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.21% for ARKB.

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

MTUM has the higher dividend yield at 0.70%, compared with 0.00% for ARKB.

What is the main difference between ARKB and MTUM?

ARKB is categorized as Cryptocurrency, while MTUM is Momentum. ARKB tracks CME CF Bitcoin Reference Rate - New York Variant, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: ARK and iShares. Their fees differ too: 0.21% for ARKB and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.21 vs -0.84), 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.