EDOW vs. MTUM

Last updated Jun 4, 2026

EDOW (First Trust Dow 30 Equal Weight ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - EDOW is a Large Cap Blend Equities fund tracking the Dow Jones Industrail Average Equal Weight TR, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, EDOW returned 8.89%/yr vs 15.21%/yr for MTUM. A 0.67 correlation means they provide meaningful diversification when combined. EDOW charges 0.50%/yr vs 0.15%/yr for MTUM.

Performance

EDOW vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow 30 Equal Weight ETF (EDOW) 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, EDOW achieves a 5.68% return, which is significantly lower than MTUM's 31.75% return.

EDOW

• 1D: -1.18%
• 1M: 3.18%
• YTD: 5.68%
• 6M: 5.68%
• 1Y: 18.49%
• 3Y*: 15.49%
• 5Y*: 8.89%
• 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)

EDOW vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDOW First Trust Dow 30 Equal Weight ETF	5.68%	15.46%	13.17%	15.47%	-7.45%	18.82%	6.64%	24.69%	-2.04%	11.90%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	11.48%

Correlation

The correlation between EDOW and MTUM is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 10, 2017	0.67

The correlation between EDOW and MTUM shifts across timeframes, from 0.52 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

EDOW vs. MTUM - Sectors Allocation Comparison

Sectors	EDOW	MTUM
Technology	20.0%	44.4%
Financial Services	17.5%	10.4%
Industrials	13.6%	15.6%
Healthcare	13.4%	6.9%
Consumer Cyclical	12.7%	3.6%
Consumer Defensive	9.9%	3.3%
Communication Services	6.5%	7.4%
Energy	3.3%	3.5%
Basic Materials	3.3%	1.7%
Real Estate	-	1.8%
Utilities	-	1.6%

Return for Risk

EDOW vs. MTUM — Risk / Return Rank

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

EDOW

EDOW Risk / Return Rank: 48
EDOW Sharpe Ratio Rank: 50
EDOW Sortino Ratio Rank: 52
EDOW Omega Ratio Rank: 48
EDOW Calmar Ratio Rank: 43
EDOW Martin Ratio Rank: 47

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.

EDOW vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow 30 Equal Weight ETF (EDOW) 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.

	EDOW	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.20	-0.46
Sortino ratio: Return per unit of downside risk	2.57	2.98	-0.41
Omega ratio: Gain probability vs. loss probability	1.30	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	2.13	3.64	-1.51
Martin ratio: Return relative to average drawdown	7.89	14.50	-6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDOW vs. MTUM - Sharpe Ratio Comparison

The current EDOW Sharpe Ratio is 1.74, which is comparable to the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of EDOW 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

	EDOW	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.20	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.74	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.85	-0.21

Drawdowns

EDOW vs. MTUM - Drawdown Comparison

The maximum EDOW drawdown since its inception was -33.72%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for EDOW and MTUM.

Drawdown Indicators

	EDOW	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-33.72%	-34.08%	+0.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-11.54%	+2.81%
Max Drawdown (3Y) Largest decline over 3 years	-15.51%	-20.99%	+5.48%
Max Drawdown (5Y) Largest decline over 5 years	-21.98%	-32.28%	+10.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	-1.18%	0.00%	-1.18%
Average Drawdown Average peak-to-trough decline	-4.08%	-6.21%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.89%	-0.54%

Volatility

EDOW vs. MTUM - Volatility Comparison

The current volatility for First Trust Dow 30 Equal Weight ETF (EDOW) is 2.74%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that EDOW 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

	EDOW	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	7.68%	-4.94%
Volatility (6M) Calculated over the trailing 6-month period	7.92%	16.46%	-8.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	19.04%	-8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	20.60%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.74%	21.03%	-3.29%

EDOW vs. MTUM - Expense Ratio Comparison

EDOW has a 0.50% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

EDOW vs. MTUM - Dividend Comparison

EDOW's dividend yield for the trailing twelve months is around 1.24%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDOW First Trust Dow 30 Equal Weight ETF	1.24%	1.31%	1.65%	1.93%	1.91%	1.52%	1.84%	1.88%	1.82%	0.75%	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 EDOW and MTUM in my portfolio?

EDOW and MTUM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDOW or MTUM?

MTUM has higher volatility (7.68%) compared to EDOW (2.74%). In terms of maximum drawdown, EDOW dropped -33.72% vs MTUM's -34.08%.

Which ETF is better, EDOW or MTUM?

On 5-year performance, MTUM leads with 15.21% vs 8.89% for EDOW. On fees, MTUM is cheaper at 0.15% per year. On volatility, EDOW has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDOW or MTUM?

Over the 5-year period, MTUM has performed better with a 15.21% return vs 8.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDOW or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.50% for EDOW.

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

EDOW has the higher dividend yield at 1.24%, compared with 0.60% for MTUM.

What is the main difference between EDOW and MTUM?

EDOW is categorized as Large Cap Blend Equities, while MTUM is Momentum. EDOW tracks Dow Jones Industrail Average Equal Weight TR, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.50% for EDOW and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 vs 1.74), 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.