BWTG vs. MTUM

Last updated Jun 4, 2026

BWTG (Brendan Wood TopGun ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - BWTG is a Large Cap Blend Equities fund actively managed by Brendan Wood, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. BWTG is actively managed, while MTUM is passively managed. Over the past year, BWTG returned 16.62% vs 41.76% for MTUM. Their correlation of 0.82 suggests significant overlap in exposure. BWTG charges 0.95%/yr vs 0.15%/yr for MTUM.

Performance

BWTG vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brendan Wood TopGun ETF (BWTG) 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, BWTG achieves a 5.71% return, which is significantly lower than MTUM's 31.75% return.

BWTG

• 1D: -0.14%
• 1M: 4.13%
• YTD: 5.71%
• 6M: 5.47%
• 1Y: 16.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.06%
• 1M: 15.90%
• YTD: 31.75%
• 6M: 32.38%
• 1Y: 41.76%
• 3Y*: 34.75%
• 5Y*: 15.21%
• 10Y*: 17.31%

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

BWTG vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BWTG Brendan Wood TopGun ETF	5.71%	16.45%	20.68%	12.60%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	8.84%

Correlation

The correlation between BWTG and MTUM is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Nov 10, 2023	0.82

The correlation between BWTG and MTUM has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

BWTG vs. MTUM - Sectors Allocation Comparison

Sectors	BWTG	MTUM
Technology	26.8%	44.4%
Financial Services	22.4%	10.4%
Industrials	14.9%	15.6%
Real Estate	12.0%	1.8%
Healthcare	6.8%	6.9%
Communication Services	4.6%	7.4%
Consumer Defensive	4.3%	3.3%
Consumer Cyclical	4.3%	3.6%
Utilities	3.6%	1.6%
Basic Materials	-	1.7%
Energy	-	3.5%

Return for Risk

BWTG vs. MTUM — Risk / Return Rank

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

BWTG

BWTG Risk / Return Rank: 41
BWTG Sharpe Ratio Rank: 42
BWTG Sortino Ratio Rank: 41
BWTG Omega Ratio Rank: 40
BWTG Calmar Ratio Rank: 34
BWTG Martin Ratio Rank: 46

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: 71
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.

BWTG vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brendan Wood TopGun ETF (BWTG) 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.

	BWTG	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.20	-0.76
Sortino ratio: Return per unit of downside risk	2.08	2.98	-0.90
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	1.68	3.64	-1.95
Martin ratio: Return relative to average drawdown	7.45	14.50	-7.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BWTG vs. MTUM - Sharpe Ratio Comparison

The current BWTG Sharpe Ratio is 1.44, which is lower than the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of BWTG 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

	BWTG	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	2.20	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	0.85	+0.76

Drawdowns

BWTG vs. MTUM - Drawdown Comparison

The maximum BWTG drawdown since its inception was -13.18%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for BWTG and MTUM.

Drawdown Indicators

	BWTG	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-13.18%	-34.08%	+20.90%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	-11.54%	+1.61%
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	-0.14%	0.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.76%	-6.21%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.89%	-0.65%

Volatility

BWTG vs. MTUM - Volatility Comparison

The current volatility for Brendan Wood TopGun ETF (BWTG) is 4.13%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that BWTG 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

	BWTG	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	7.68%	-3.55%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	16.46%	-7.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.58%	19.04%	-7.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.97%	20.60%	-6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.97%	21.03%	-7.06%

BWTG vs. MTUM - Expense Ratio Comparison

BWTG has a 0.95% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

BWTG vs. MTUM - Dividend Comparison

BWTG's dividend yield for the trailing twelve months is around 0.33%, less than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWTG Brendan Wood TopGun ETF	0.33%	0.35%	0.25%	0.19%	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 BWTG and MTUM in my portfolio?

BWTG and MTUM have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BWTG or MTUM?

MTUM has higher volatility (7.68%) compared to BWTG (4.13%). In terms of maximum drawdown, BWTG dropped -13.18% vs MTUM's -34.08%.

Which ETF is better, BWTG or MTUM?

On 1-year performance, MTUM leads with 41.76% vs 16.62% for BWTG. On fees, MTUM is cheaper at 0.15% per year. On volatility, BWTG has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BWTG or MTUM?

Over the 1-year period, MTUM has performed better with a 41.76% return vs 16.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BWTG or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.95% for BWTG.

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

MTUM has the higher dividend yield at 0.60%, compared with 0.33% for BWTG.

What is the main difference between BWTG and MTUM?

BWTG is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Brendan Wood and iShares. Their fees differ too: 0.95% for BWTG and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 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.