CBUH.DE vs. MTUM

Last updated Jun 5, 2026

CBUH.DE (iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc) and MTUM (iShares MSCI USA Momentum Factor ETF) are both Momentum funds from iShares - CBUH.DE tracks the MSCI World Momentum ESG Reduced Carbon Target Select while MTUM tracks the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 3 years, CBUH.DE returned 22.30%/yr vs 30.77%/yr for MTUM. A 0.58 correlation means they provide meaningful diversification when combined. CBUH.DE charges 0.30%/yr vs 0.15%/yr for MTUM.

Performance

CBUH.DE vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc (CBUH.DE) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CBUH.DE is traded in EUR, while MTUM is traded in USD. To make them comparable, the MTUM values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CBUH.DE achieves a 22.41% return, which is significantly lower than MTUM's 31.79% return.

CBUH.DE

• 1D: -0.51%
• 1M: 4.74%
• YTD: 22.41%
• 6M: 23.42%
• 1Y: 31.87%
• 3Y*: 22.30%
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -1.24%
• 1M: 12.69%
• YTD: 31.79%
• 6M: 30.33%
• 1Y: 38.19%
• 3Y*: 30.77%
• 5Y*: 16.03%
• 10Y*: 16.93%

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

CBUH.DE vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CBUH.DE iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc	22.41%	7.97%	28.91%	13.46%	-17.00%	0.41%
MTUM iShares MSCI USA Momentum Factor ETF	31.79%	7.65%	41.66%	5.87%	-13.20%	-2.85%

Correlation

The correlation between CBUH.DE and MTUM is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 1, 2021	0.58

The correlation between CBUH.DE and MTUM has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Return for Risk

CBUH.DE vs. MTUM — Risk / Return Rank

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

CBUH.DE

CBUH.DE Risk / Return Rank: 66
CBUH.DE Sharpe Ratio Rank: 60
CBUH.DE Sortino Ratio Rank: 65
CBUH.DE Omega Ratio Rank: 60
CBUH.DE Calmar Ratio Rank: 69
CBUH.DE Martin Ratio Rank: 74

MTUM

MTUM Risk / Return Rank: 68
MTUM Sharpe Ratio Rank: 65
MTUM Sortino Ratio Rank: 64
MTUM Omega Ratio Rank: 64
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.

CBUH.DE vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc (CBUH.DE) 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.

	CBUH.DE	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.05	-0.06
Sortino ratio: Return per unit of downside risk	2.97	2.72	+0.25
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	3.38	4.02	-0.64
Martin ratio: Return relative to average drawdown	13.99	13.80	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBUH.DE vs. MTUM - Sharpe Ratio Comparison

The current CBUH.DE Sharpe Ratio is 1.99, which is comparable to the MTUM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of CBUH.DE 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

	CBUH.DE	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.05	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.85	-0.21

Drawdowns

CBUH.DE vs. MTUM - Drawdown Comparison

The maximum CBUH.DE drawdown since its inception was -22.61%, smaller than the maximum MTUM drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for CBUH.DE and MTUM.

Drawdown Indicators

	CBUH.DE	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-22.61%	-33.58%	+10.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-9.54%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-22.61%	-24.93%	+2.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.58%	—
Current Drawdown Current decline from peak	-0.51%	-1.24%	+0.73%
Average Drawdown Average peak-to-trough decline	-8.55%	-5.82%	-2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.78%	-0.51%

Volatility

CBUH.DE vs. MTUM - Volatility Comparison

The current volatility for iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc (CBUH.DE) is 4.80%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.07%. This indicates that CBUH.DE 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

	CBUH.DE	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	7.07%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	13.32%	15.54%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.96%	18.73%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	20.54%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	21.45%	-4.54%

CBUH.DE vs. MTUM - Expense Ratio Comparison

CBUH.DE has a 0.30% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

CBUH.DE vs. MTUM - Dividend Comparison

CBUH.DE has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBUH.DE iShares MSCI World Momentum Factor ESG UCITS ETF USD Acc	0.00%	0.00%	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	0.60%	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 CBUH.DE and MTUM in my portfolio?

CBUH.DE and MTUM have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBUH.DE or MTUM?

On fees, MTUM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBUH.DE or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.30% for CBUH.DE.

What is the main difference between CBUH.DE and MTUM?

CBUH.DE tracks MSCI World Momentum ESG Reduced Carbon Target Select, while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.30% for CBUH.DE and 0.15% for MTUM.