DFVE vs. MTUM

Last updated Jun 4, 2026

DFVE (Doubleline Fortune 500 Equal Weight ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - DFVE is a Large Cap Blend Equities fund tracking the Barclays Fortune 500 Equal Weighted Index - Benchmark TR Gross, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past year, DFVE returned 23.82% vs 41.76% for MTUM. A 0.61 correlation means they provide meaningful diversification when combined. DFVE charges 0.20%/yr vs 0.15%/yr for MTUM.

Performance

DFVE vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doubleline Fortune 500 Equal Weight ETF (DFVE) 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, DFVE achieves a 10.31% return, which is significantly lower than MTUM's 31.75% return.

DFVE

• 1D: -0.48%
• 1M: 2.49%
• YTD: 10.31%
• 6M: 10.69%
• 1Y: 23.82%
• 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)

DFVE vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFVE Doubleline Fortune 500 Equal Weight ETF	10.31%	14.51%	13.70%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	23.75%

Correlation

The correlation between DFVE and MTUM is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.61

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

DFVE vs. MTUM - Sectors Allocation Comparison

Sectors	DFVE	MTUM
Industrials	16.9%	15.6%
Consumer Cyclical	16.1%	3.6%
Financial Services	14.5%	10.4%
Technology	12.9%	44.4%
Healthcare	9.8%	6.9%
Consumer Defensive	8.2%	3.3%
Energy	6.3%	3.5%
Utilities	5.2%	1.6%
Basic Materials	4.5%	1.7%
Communication Services	4.3%	7.4%
Real Estate	1.4%	1.8%

Return for Risk

DFVE vs. MTUM — Risk / Return Rank

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

DFVE

DFVE Risk / Return Rank: 58
DFVE Sharpe Ratio Rank: 56
DFVE Sortino Ratio Rank: 59
DFVE Omega Ratio Rank: 53
DFVE Calmar Ratio Rank: 62
DFVE Martin Ratio Rank: 62

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.

DFVE vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doubleline Fortune 500 Equal Weight ETF (DFVE) 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.

	DFVE	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.20	-0.32
Sortino ratio: Return per unit of downside risk	2.75	2.98	-0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.07
Calmar ratio: Return relative to maximum drawdown	3.07	3.64	-0.56
Martin ratio: Return relative to average drawdown	10.92	14.50	-3.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFVE vs. MTUM - Sharpe Ratio Comparison

The current DFVE Sharpe Ratio is 1.88, which is comparable to the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of DFVE 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

	DFVE	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.20	-0.32
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	1.09	0.85	+0.24

Drawdowns

DFVE vs. MTUM - Drawdown Comparison

The maximum DFVE drawdown since its inception was -19.43%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for DFVE and MTUM.

Drawdown Indicators

	DFVE	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-19.43%	-34.08%	+14.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.79%	-11.54%	+3.75%
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	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-2.77%	-6.21%	+3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	2.89%	-0.70%

Volatility

DFVE vs. MTUM - Volatility Comparison

The current volatility for Doubleline Fortune 500 Equal Weight ETF (DFVE) is 2.98%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that DFVE 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

	DFVE	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	7.68%	-4.70%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	16.46%	-7.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	19.04%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	20.60%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	21.03%	-5.47%

DFVE vs. MTUM - Expense Ratio Comparison

DFVE has a 0.20% 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

DFVE vs. MTUM - Dividend Comparison

DFVE's dividend yield for the trailing twelve months is around 1.37%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFVE Doubleline Fortune 500 Equal Weight ETF	1.37%	1.52%	1.53%	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 DFVE and MTUM in my portfolio?

DFVE and MTUM have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFVE or MTUM?

MTUM has higher volatility (7.68%) compared to DFVE (2.98%). In terms of maximum drawdown, DFVE dropped -19.43% vs MTUM's -34.08%.

Which ETF is better, DFVE or MTUM?

On 1-year performance, MTUM leads with 41.76% vs 23.82% for DFVE. On fees, MTUM is cheaper at 0.15% per year. On volatility, DFVE has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFVE or MTUM?

Over the 1-year period, MTUM has performed better with a 41.76% return vs 23.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFVE or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.20% for DFVE.

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

DFVE has the higher dividend yield at 1.37%, compared with 0.60% for MTUM.

What is the main difference between DFVE and MTUM?

DFVE is categorized as Large Cap Blend Equities, while MTUM is Momentum. DFVE tracks Barclays Fortune 500 Equal Weighted Index - Benchmark TR Gross, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: DoubleLine and iShares. Their fees differ too: 0.20% for DFVE and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 vs 1.88), 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.