AVLV vs. MTUM

Last updated Jun 13, 2026

AVLV (Avantis U.S. Large Cap Value ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - AVLV is a Large Cap Value Equities fund actively managed by Avantis, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. AVLV is actively managed, while MTUM is passively managed. Over the past 3 years, AVLV returned 22.42%/yr vs 33.16%/yr for MTUM. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

AVLV vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Large Cap Value ETF (AVLV) 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, AVLV achieves a 21.54% return, which is significantly lower than MTUM's 29.72% return.

AVLV

• 1D: 0.72%
• 1M: 3.54%
• YTD: 21.54%
• 6M: 21.48%
• 1Y: 39.76%
• 3Y*: 22.42%
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.69%
• 1M: 5.58%
• YTD: 29.72%
• 6M: 30.51%
• 1Y: 42.02%
• 3Y*: 33.16%
• 5Y*: 14.96%
• 10Y*: 17.15%

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

AVLV vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	21.54%	15.12%	17.49%	17.43%	-5.53%	6.27%
MTUM iShares MSCI USA Momentum Factor ETF	29.72%	22.15%	32.89%	9.15%	-18.27%	1.90%

Correlation

The correlation between AVLV and MTUM is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.78

The correlation between AVLV and MTUM has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

AVLV vs. MTUM - Sectors Allocation Comparison

Sectors	AVLV	MTUM
Technology	17.2%	44.4%
Financial Services	16.3%	10.4%
Industrials	15.4%	15.6%
Energy	14.4%	3.5%
Consumer Cyclical	14.1%	3.6%
Consumer Defensive	7.7%	3.3%
Communication Services	6.9%	7.4%
Healthcare	5.6%	6.9%
Basic Materials	2.0%	1.7%
Utilities	0.3%	1.6%
Real Estate	0.1%	1.8%

Return for Risk

AVLV vs. MTUM — Risk / Return Rank

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

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 92
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 94

MTUM

MTUM Risk / Return Rank: 73
MTUM Sharpe Ratio Rank: 70
MTUM Sortino Ratio Rank: 66
MTUM Omega Ratio Rank: 70
MTUM Calmar Ratio Rank: 78
MTUM Martin Ratio Rank: 81

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.

AVLV vs. MTUM - Risk-Adjusted Trends Comparison

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

	AVLV	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	3.10	1.96	+1.14
Sortino ratio: Return per unit of downside risk	4.26	2.62	+1.64
Omega ratio: Gain probability vs. loss probability	1.56	1.36	+0.20
Calmar ratio: Return relative to maximum drawdown	6.07	3.55	+2.52
Martin ratio: Return relative to average drawdown	24.12	13.66	+10.47

AVLV vs. MTUM - Sharpe Ratio Comparison

The current AVLV Sharpe Ratio is 3.10, which is higher than the MTUM Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of AVLV 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

AVLV vs. MTUM - Drawdown Comparison

The maximum AVLV drawdown since its inception was -19.50%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for AVLV and MTUM.

Drawdown Indicators

	AVLV	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-34.08%	+14.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-11.54%	+5.15%
Max Drawdown (3Y) Largest decline over 3 years	-19.50%	-20.99%	+1.49%
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%	-1.55%	+1.55%
Average Drawdown Average peak-to-trough decline	-3.91%	-6.20%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	2.99%	-1.38%

Volatility

AVLV vs. MTUM - Volatility Comparison

The current volatility for Avantis U.S. Large Cap Value ETF (AVLV) is 3.67%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 10.89%. This indicates that AVLV 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

	AVLV	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	10.89%	-7.22%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	18.63%	-9.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	20.87%	-8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	20.94%	-3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	21.20%	-3.86%

AVLV vs. MTUM - Expense Ratio Comparison

Both AVLV 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

AVLV vs. MTUM - Dividend Comparison

AVLV's dividend yield for the trailing twelve months is around 1.37%, more than MTUM's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVLV Avantis U.S. Large Cap Value ETF	1.37%	1.33%	1.58%	1.85%	2.00%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MTUM iShares MSCI USA Momentum Factor ETF	0.61%	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 AVLV and MTUM in my portfolio?

AVLV and MTUM have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVLV or MTUM?

MTUM has higher volatility (10.89%) compared to AVLV (3.67%). In terms of maximum drawdown, AVLV dropped -19.50% vs MTUM's -34.08%.

Which ETF is better, AVLV or MTUM?

On 3-year performance, MTUM leads with 33.16% vs 22.42% for AVLV. Both ETFs have the same 0.15% expense ratio. On volatility, AVLV has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVLV or MTUM?

Over the 3-year period, MTUM has performed better with a 33.16% return vs 22.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVLV or MTUM?

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

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

AVLV has the higher dividend yield at 1.37%, compared with 0.61% for MTUM.

What is the main difference between AVLV and MTUM?

AVLV is categorized as Large Cap Value Equities, while MTUM is Momentum. They also come from different issuers: Avantis and iShares.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (3.10 vs 1.96), 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.