BAI vs. MTUM

Last updated Jul 14, 2026

BAI (iShares A.I. Innovation and Tech Active ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - BAI is a Technology Equities fund actively managed by iShares, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. BAI is actively managed, while MTUM is passively managed. Over the past year, BAI returned 60.51% vs 34.12% for MTUM. Their correlation of 0.86 suggests significant overlap in exposure. BAI charges 0.55%/yr vs 0.15%/yr for MTUM.

Performance

BAI vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares A.I. Innovation and Tech Active ETF (BAI) 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, BAI achieves a 36.40% return, which is significantly higher than MTUM's 25.95% return.

BAI

• 1D: -4.80%
• 1M: -7.19%
• 6M: 30.48%
• YTD: 36.40%
• 1Y: 60.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -2.22%
• 1M: -2.90%
• 6M: 21.75%
• YTD: 25.95%
• 1Y: 34.12%
• 3Y*: 30.38%
• 5Y*: 14.17%
• 10Y*: 16.34%

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

BAI vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BAI iShares A.I. Innovation and Tech Active ETF	36.40%	25.22%	8.89%
MTUM iShares MSCI USA Momentum Factor ETF	25.95%	22.15%	-0.51%

Correlation

The correlation between BAI and MTUM is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.86

The correlation between BAI and MTUM has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

BAI vs. MTUM - Sectors Allocation Comparison

Sectors	BAI	MTUM
Technology	89.0%	50.2%
Industrials	4.6%	15.0%
Communication Services	3.8%	5.1%
Consumer Cyclical	2.7%	2.9%
Healthcare	0.7%	3.5%
Basic Materials	-	2.3%
Consumer Defensive	-	3.7%
Energy	-	10.5%
Financial Services	-	5.0%
Real Estate	-	1.3%
Utilities	-	0.6%

Return for Risk

BAI vs. MTUM — Risk / Return Rank

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

BAI

BAI Risk / Return Rank: 62
BAI Sharpe Ratio Rank: 57
BAI Sortino Ratio Rank: 49
BAI Omega Ratio Rank: 53
BAI Calmar Ratio Rank: 85
BAI Martin Ratio Rank: 64

MTUM

MTUM Risk / Return Rank: 60
MTUM Sharpe Ratio Rank: 53
MTUM Sortino Ratio Rank: 49
MTUM Omega Ratio Rank: 54
MTUM Calmar Ratio Rank: 73
MTUM Martin Ratio Rank: 70

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.

BAI vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares A.I. Innovation and Tech Active ETF (BAI) 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.

	BAI	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.44	+0.09
Sortino ratio: Return per unit of downside risk	1.97	1.95	+0.02
Omega ratio: Gain probability vs. loss probability	1.26	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	3.74	2.97	+0.77
Martin ratio: Return relative to average drawdown	9.15	10.23	-1.09

BAI vs. MTUM - Sharpe Ratio Comparison

The current BAI Sharpe Ratio is 1.53, which is comparable to the MTUM Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BAI 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

BAI vs. MTUM - Drawdown Comparison

The maximum BAI drawdown since its inception was -34.09%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for BAI and MTUM.

Drawdown Indicators

	BAI	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-34.09%	-34.08%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-16.25%	-11.54%	-4.71%
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	-16.25%	-8.86%	-7.39%
Average Drawdown Average peak-to-trough decline	-6.98%	-6.19%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.63%	3.34%	+3.29%

Volatility

BAI vs. MTUM - Volatility Comparison

iShares A.I. Innovation and Tech Active ETF (BAI) has a higher volatility of 20.74% compared to iShares MSCI USA Momentum Factor ETF (MTUM) at 13.18%. This indicates that BAI'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

	BAI	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.74%	13.18%	+7.56%
Volatility (6M) Calculated over the trailing 6-month period	34.32%	21.54%	+12.78%
Volatility (1Y) Calculated over the trailing 1-year period	39.76%	23.81%	+15.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.40%	21.54%	+16.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.40%	21.52%	+16.88%

BAI vs. MTUM - Expense Ratio Comparison

BAI has a 0.55% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

BAI vs. MTUM - Dividend Comparison

BAI's dividend yield for the trailing twelve months is around 1.31%, more than MTUM's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAI iShares A.I. Innovation and Tech Active ETF	1.31%	1.80%	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	0.59%	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 BAI and MTUM in my portfolio?

BAI and MTUM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAI or MTUM?

BAI has higher volatility (20.74%) compared to MTUM (13.18%). In terms of maximum drawdown, BAI dropped -34.09% vs MTUM's -34.08%.

Which ETF is better, BAI or MTUM?

On 1-year performance, BAI leads with 60.51% vs 34.12% for MTUM. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 13.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAI or MTUM?

Over the 1-year period, BAI has performed better with a 60.51% return vs 34.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAI or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.55% for BAI.

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

BAI has the higher dividend yield at 1.31%, compared with 0.59% for MTUM.

What is the main difference between BAI and MTUM?

BAI is categorized as Technology Equities, while MTUM is Momentum. Their fees differ too: 0.55% for BAI and 0.15% for MTUM.

Which has better risk-adjusted returns?

BAI currently has the higher Sharpe Ratio (1.53 vs 1.44), 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.