BBJP vs. MTUM

Last updated Jul 26, 2026

BBJP (JPMorgan BetaBuilders Japan ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - BBJP is a Japan Equities fund tracking the Morningstar Japan Target Market Exposure Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, BBJP returned 8.67%/yr vs 13.15%/yr for MTUM. Their 0.58 correlation means they have sometimes moved together and sometimes differently. BBJP charges 0.19%/yr vs 0.15%/yr for MTUM.

Performance

BBJP vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Japan ETF (BBJP) 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, BBJP achieves a 11.90% return, which is significantly lower than MTUM's 22.65% return.

BBJP

• 1D: 0.19%
• 1M: -2.16%
• 6M: 6.85%
• YTD: 11.90%
• 1Y: 24.42%
• 3Y*: 16.52%
• 5Y*: 8.67%
• 10Y*: —
• ALL TIME*: 7.64%

MTUM

• 1D: -2.42%
• 1M: -9.70%
• 6M: 20.16%
• YTD: 22.65%
• 1Y: 27.88%
• 3Y*: 28.98%
• 5Y*: 13.15%
• 10Y*: 16.00%
• ALL TIME*: 15.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBJP JPMorgan BetaBuilders Japan ETF	$122.93M	$111.87M	$115.37M
MTUM iShares MSCI USA Momentum Factor ETF	$620.00M	$622.73M	$495.72M

BBJP vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBJP JPMorgan BetaBuilders Japan ETF	11.90%	26.55%	7.47%	20.65%	-17.24%	1.21%	15.42%	18.85%	-13.92%
MTUM iShares MSCI USA Momentum Factor ETF	22.65%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-11.29%

Correlation

The correlation between BBJP and MTUM is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.56
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018	0.58

The correlation between BBJP and MTUM has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

BBJP vs. MTUM - Sectors Allocation Comparison

Sectors	BBJP	MTUM
Industrials	25.6%	15.3%
Technology	22.2%	48.0%
Financial Services	18.8%	5.2%
Consumer Cyclical	10.7%	3.0%
Healthcare	5.8%	4.0%
Communication Services	4.6%	4.9%
Basic Materials	4.1%	2.1%
Consumer Defensive	3.6%	3.9%
Real Estate	2.2%	1.5%
Utilities	1.0%	0.6%
Energy	0.9%	11.3%

Return for Risk

BBJP vs. MTUM — Risk / Return Rank

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

BBJP

BBJP Risk / Return Rank: 48
BBJP Sharpe Ratio Rank: 47
BBJP Sortino Ratio Rank: 46
BBJP Omega Ratio Rank: 48
BBJP Calmar Ratio Rank: 48
BBJP Martin Ratio Rank: 48

MTUM

MTUM Risk / Return Rank: 55
MTUM Sharpe Ratio Rank: 49
MTUM Sortino Ratio Rank: 46
MTUM Omega Ratio Rank: 50
MTUM Calmar Ratio Rank: 66
MTUM Martin Ratio Rank: 62

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.

BBJP vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) 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.

	BBJP	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.18	-0.04
Sortino ratio: Return per unit of downside risk	1.67	1.66	+0.01
Omega ratio: Gain probability vs. loss probability	1.22	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.70	2.31	-0.62
Martin ratio: Return relative to average drawdown	5.53	7.45	-1.92

BBJP vs. MTUM - Sharpe Ratio Comparison

The current BBJP Sharpe Ratio is 1.14, which is comparable to the MTUM Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of BBJP 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

BBJP vs. MTUM - Drawdown Comparison

The maximum BBJP drawdown since its inception was -32.66%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for BBJP and MTUM.

Drawdown Indicators

	BBJP	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-34.08%	+1.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-12.49%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	-20.99%	+6.50%
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	-32.28%	-0.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	-5.62%	-11.25%	+5.63%
Average Drawdown Average peak-to-trough decline	-8.43%	-6.20%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	3.87%	+0.32%

Volatility

BBJP vs. MTUM - Volatility Comparison

The current volatility for JPMorgan BetaBuilders Japan ETF (BBJP) is 5.94%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.65%. This indicates that BBJP 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

	BBJP	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	11.65%	-5.71%
Volatility (6M) Calculated over the trailing 6-month period	16.84%	22.19%	-5.35%
Volatility (1Y) Calculated over the trailing 1-year period	20.22%	24.47%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.45%	21.65%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	21.60%	-3.19%

BBJP vs. MTUM - Expense Ratio Comparison

BBJP has a 0.19% 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

BBJP vs. MTUM - Dividend Comparison

BBJP's dividend yield for the trailing twelve months is around 4.80%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBJP JPMorgan BetaBuilders Japan ETF	4.80%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%	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 BBJP and MTUM in my portfolio?

BBJP and MTUM have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBJP or MTUM?

MTUM has higher volatility (11.65%) compared to BBJP (5.94%). In terms of maximum drawdown, BBJP dropped -32.66% vs MTUM's -34.08%.

Which ETF is better, BBJP or MTUM?

On 5-year performance, MTUM leads with 13.15% vs 8.67% for BBJP. On fees, MTUM is cheaper at 0.15% per year. On volatility, BBJP has been the lower-risk option at 5.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBJP or MTUM?

Over the 5-year period, MTUM has performed better with a 13.15% return vs 8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBJP or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.19% for BBJP.

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

BBJP has the higher dividend yield at 4.80%, compared with 0.60% for MTUM.

What is the main difference between BBJP and MTUM?

BBJP is categorized as Japan Equities, while MTUM is Momentum. BBJP tracks Morningstar Japan Target Market Exposure Index, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for BBJP and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (1.18 vs 1.14), 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.