FMKT vs. MTUM
FMKT (The Free Markets ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - FMKT is a Large Cap Blend Equities fund, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. FMKT is actively managed, while MTUM is passively managed. Over the past year, FMKT returned 2.63% vs 26.36% for MTUM. Their 0.67 correlation means they have sometimes moved together and sometimes differently. FMKT charges 0.76%/yr vs 0.15%/yr for MTUM.
Performance
FMKT vs. MTUM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FMKT achieves a 0.86% return, which is significantly lower than MTUM's 19.93% return.
FMKT
- 1D
- 0.42%
- 1M
- -1.23%
- 6M
- -0.59%
- YTD
- 0.86%
- 1Y
- 2.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.59%
MTUM
- 1D
- 0.27%
- 1M
- -5.35%
- 6M
- 17.31%
- YTD
- 19.93%
- 1Y
- 26.36%
- 3Y*
- 27.89%
- 5Y*
- 12.62%
- 10Y*
- 15.71%
- ALL TIME*
- 15.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $56.87K | $86.94K | $97.49K | |
| $558.09M | $637.73M | $538.11M |
FMKT vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FMKT The Free Markets ETF | 0.86% | 10.04% |
MTUM iShares MSCI USA Momentum Factor ETF | 19.93% | 8.92% |
Correlation
The correlation between FMKT and MTUM is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025 | 0.67 |
The correlation between FMKT and MTUM has been stable across timeframes, ranging from 0.66 to 0.67 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FMKT vs. MTUM — Risk / Return Rank
FMKT
MTUM
FMKT vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Free Markets ETF (FMKT) 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.
| FMKT | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.19 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 1.40 | -1.31 |
| Martin ratioReturn relative to average drawdown | 0.21 | 5.72 | -5.51 |
Loading charts...
Drawdowns
FMKT vs. MTUM - Drawdown Comparison
The maximum FMKT drawdown since its inception was -17.79%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for FMKT and MTUM.
Loading charts...
Drawdown Indicators
| FMKT | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.79% | -34.08% | +16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -17.79% | -17.99% | +0.20% |
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 DrawdownCurrent decline from peak | -8.48% | -13.22% | +4.74% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -6.22% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.31% | 4.39% | +2.92% |
Volatility
FMKT vs. MTUM - Volatility Comparison
The current volatility for The Free Markets ETF (FMKT) is 4.70%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.22%. This indicates that FMKT 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.
Loading charts...
Volatility by Period
| FMKT | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 11.22% | -6.52% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 23.33% | -8.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.64% | 25.53% | -5.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 21.89% | -2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 21.72% | -2.55% |
FMKT vs. MTUM - Expense Ratio Comparison
FMKT has a 0.76% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
FMKT vs. MTUM - Dividend Comparison
FMKT's dividend yield for the trailing twelve months is around 2.13%, more than MTUM's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMKT The Free Markets ETF | 2.13% | 2.15% | 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 | 0.62% | 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
FMKT and MTUM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (11.22%) compared to FMKT (4.70%). In terms of maximum drawdown, FMKT dropped -17.79% vs MTUM's -34.08%.
On 1-year performance, MTUM leads with 26.36% vs 2.63% for FMKT. On fees, MTUM is cheaper at 0.15% per year. On volatility, FMKT has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MTUM has performed better with a 26.36% return vs 2.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MTUM is cheaper with a 0.15% expense ratio, compared with 0.76% for FMKT.
FMKT has the higher dividend yield at 2.13%, compared with 0.62% for MTUM.
FMKT is categorized as Large Cap Blend Equities, while MTUM is Momentum. Their fees differ too: 0.76% for FMKT and 0.15% for MTUM.
MTUM currently has the higher Sharpe Ratio (0.99 vs 0.08), 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.
Find the right allocation for FMKT and MTUM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer