AVLC vs. MTUM

Last updated Jun 3, 2026

AVLC (Avantis U.S. Large Cap Equity ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - AVLC is a Large Cap Blend Equities fund actively managed by American Century, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. AVLC is actively managed, while MTUM is passively managed. Over the past year, AVLC returned 34.32% vs 40.75% for MTUM. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

AVLC vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Large Cap Equity ETF (AVLC) 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, AVLC achieves a 15.30% return, which is significantly lower than MTUM's 30.37% return.

AVLC

• 1D: 0.49%
• 1M: 5.57%
• YTD: 15.30%
• 6M: 16.17%
• 1Y: 34.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 2.87%
• 1M: 14.36%
• YTD: 30.37%
• 6M: 31.51%
• 1Y: 40.75%
• 3Y*: 34.28%
• 5Y*: 15.20%
• 10Y*: 17.19%

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

AVLC vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVLC Avantis U.S. Large Cap Equity ETF	15.30%	17.57%	22.82%	12.05%
MTUM iShares MSCI USA Momentum Factor ETF	30.37%	22.15%	32.89%	12.05%

Correlation

The correlation between AVLC and MTUM is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.88

The correlation between AVLC and MTUM has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

AVLC vs. MTUM - Sectors Allocation Comparison

Sectors	AVLC	MTUM
Technology	32.6%	44.4%
Financial Services	13.1%	10.4%
Industrials	10.8%	15.6%
Consumer Cyclical	10.3%	3.6%
Communication Services	8.7%	7.4%
Energy	7.3%	3.5%
Healthcare	7.2%	6.9%
Consumer Defensive	4.8%	3.3%
Utilities	2.7%	1.6%
Basic Materials	2.3%	1.7%
Real Estate	0.2%	1.8%

Return for Risk

AVLC vs. MTUM — Risk / Return Rank

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

AVLC

AVLC Risk / Return Rank: 84
AVLC Sharpe Ratio Rank: 84
AVLC Sortino Ratio Rank: 83
AVLC Omega Ratio Rank: 82
AVLC Calmar Ratio Rank: 82
AVLC Martin Ratio Rank: 89

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: 72
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.

AVLC vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Large Cap Equity ETF (AVLC) 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.

	AVLC	MTUM	Difference
Sharpe ratio Return per unit of total volatility	2.78	2.15	+0.63
Sortino ratio Return per unit of downside risk	3.74	2.92	+0.82
Omega ratio Gain probability vs. loss probability	1.50	1.39	+0.11
Calmar ratio Return relative to maximum drawdown	4.39	3.63	+0.75
Martin ratio Return relative to average drawdown	20.29	14.50	+5.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVLC vs. MTUM - Sharpe Ratio Comparison

The current AVLC Sharpe Ratio is 2.78, which is comparable to the MTUM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of AVLC 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

	AVLC	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	2.15	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	0.84	+0.84

Drawdowns

AVLC vs. MTUM - Drawdown Comparison

The maximum AVLC drawdown since its inception was -19.64%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for AVLC and MTUM.

Drawdown Indicators

	AVLC	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-34.08%	+14.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.00%	-11.54%	+3.54%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.98%	-6.21%	+4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	2.89%	-1.16%

Volatility

AVLC vs. MTUM - Volatility Comparison

The current volatility for Avantis U.S. Large Cap Equity ETF (AVLC) is 3.04%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.73%. This indicates that AVLC 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

	AVLC	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	7.73%	-4.69%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	16.49%	-7.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.40%	19.03%	-6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	20.59%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	21.04%	-5.34%

AVLC vs. MTUM - Expense Ratio Comparison

Both AVLC and MTUM have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

AVLC vs. MTUM - Dividend Comparison

AVLC's dividend yield for the trailing twelve months is around 0.78%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVLC Avantis U.S. Large Cap Equity ETF	0.78%	0.92%	1.09%	0.38%	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 AVLC and MTUM in my portfolio?

AVLC and MTUM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVLC or MTUM?

MTUM has higher volatility (7.73%) compared to AVLC (3.04%). In terms of maximum drawdown, AVLC dropped -19.64% vs MTUM's -34.08%.

Which ETF is better, AVLC or MTUM?

On 1-year performance, MTUM leads with 40.75% vs 34.32% for AVLC. Both ETFs have the same 0.15% expense ratio. On volatility, AVLC has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVLC or MTUM?

Over the 1-year period, MTUM has performed better with a 40.75% return vs 34.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVLC or MTUM?

AVLC and MTUM have the same expense ratio: 0.15% per year.

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

AVLC has the higher dividend yield at 0.78%, compared with 0.60% for MTUM.

What is the main difference between AVLC and MTUM?

AVLC is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: American Century and iShares.

Which has better risk-adjusted returns?

AVLC currently has the higher Sharpe Ratio (2.78 vs 2.15), 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.