FDRR vs. MTUM

Last updated Jun 24, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - FDRR is a Large Cap Blend Equities fund tracking the Fidelity Dividend Index for Rising Rates, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, FDRR returned 12.13%/yr vs 15.18%/yr for MTUM. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

FDRR vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) 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, FDRR achieves a 7.87% return, which is significantly lower than MTUM's 32.00% return.

FDRR

• 1D: -0.04%
• 1M: -0.38%
• YTD: 7.87%
• 6M: 7.46%
• 1Y: 26.53%
• 3Y*: 20.07%
• 5Y*: 12.13%
• 10Y*: —

MTUM

• 1D: -4.48%
• 1M: 8.74%
• YTD: 32.00%
• 6M: 29.92%
• 1Y: 41.78%
• 3Y*: 33.87%
• 5Y*: 15.18%
• 10Y*: 17.49%

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

FDRR vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	7.87%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%
MTUM iShares MSCI USA Momentum Factor ETF	32.00%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between FDRR and MTUM is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.76

The correlation between FDRR and MTUM shifts across timeframes, from 0.67 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

FDRR vs. MTUM - Sectors Allocation Comparison

Sectors	FDRR	MTUM
Technology	38.2%	50.2%
Financial Services	11.3%	5.0%
Communication Services	10.1%	5.1%
Healthcare	9.3%	3.5%
Industrials	8.3%	15.0%
Consumer Cyclical	8.2%	2.9%
Consumer Defensive	4.5%	3.7%
Energy	3.2%	10.5%
Real Estate	2.8%	1.3%
Utilities	2.1%	0.6%
Basic Materials	2.0%	2.3%

Return for Risk

FDRR vs. MTUM — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 74
FDRR Sharpe Ratio Rank: 78
FDRR Sortino Ratio Rank: 79
FDRR Omega Ratio Rank: 77
FDRR Calmar Ratio Rank: 66
FDRR Martin Ratio Rank: 72

MTUM

MTUM Risk / Return Rank: 64
MTUM Sharpe Ratio Rank: 59
MTUM Sortino Ratio Rank: 54
MTUM Omega Ratio Rank: 59
MTUM Calmar Ratio Rank: 74
MTUM Martin Ratio Rank: 76

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.

FDRR vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) 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.

	FDRR	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.92	+0.46
Sortino ratio: Return per unit of downside risk	3.30	2.53	+0.77
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio: Return relative to maximum drawdown	3.13	3.64	-0.51
Martin ratio: Return relative to average drawdown	12.81	13.91	-1.11

FDRR vs. MTUM - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.37, which is comparable to the MTUM Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FDRR 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

FDRR vs. MTUM - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for FDRR and MTUM.

Drawdown Indicators

	FDRR	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-34.08%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-11.54%	+3.02%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-20.99%	+2.95%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-32.28%	+11.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	-3.08%	-4.48%	+1.40%
Average Drawdown Average peak-to-trough decline	-4.00%	-6.19%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	3.01%	-0.93%

Volatility

FDRR vs. MTUM - Volatility Comparison

The current volatility for Fidelity Dividend ETF for Rising Rates (FDRR) is 3.79%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 12.20%. This indicates that FDRR 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

	FDRR	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	12.20%	-8.41%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	19.44%	-10.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	21.93%	-10.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	21.15%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	21.31%	-4.45%

FDRR vs. MTUM - Expense Ratio Comparison

Both FDRR and MTUM have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FDRR vs. MTUM - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.16%, more than MTUM's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDRR Fidelity Dividend ETF for Rising Rates	2.16%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%	0.00%
MTUM iShares MSCI USA Momentum Factor ETF	0.56%	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 FDRR and MTUM in my portfolio?

FDRR and MTUM have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or MTUM?

MTUM has higher volatility (12.20%) compared to FDRR (3.79%). In terms of maximum drawdown, FDRR dropped -36.52% vs MTUM's -34.08%.

Which ETF is better, FDRR or MTUM?

On 5-year performance, MTUM leads with 15.18% vs 12.13% for FDRR. Both ETFs have the same 0.15% expense ratio. On volatility, FDRR has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or MTUM?

Over the 5-year period, MTUM has performed better with a 15.18% return vs 12.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or MTUM?

FDRR and MTUM have the same expense ratio: 0.15% per year.

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

FDRR has the higher dividend yield at 2.16%, compared with 0.56% for MTUM.

What is the main difference between FDRR and MTUM?

FDRR is categorized as Large Cap Blend Equities, while MTUM is Momentum. FDRR tracks Fidelity Dividend Index for Rising Rates, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: Fidelity and iShares.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.37 vs 1.92), 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.