GACA.DE vs. MTUM
GACA.DE (Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.)) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - GACA.DE is a Large Cap Blend Equities fund tracking the Goldman Sachs ActiveBeta US Large Cap Equity, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, GACA.DE returned 13.63%/yr vs 14.80%/yr for MTUM. At a 0.50 correlation, their price movements are largely independent. GACA.DE charges 0.14%/yr vs 0.15%/yr for MTUM.
Performance
GACA.DE vs. MTUM - Performance Comparison
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Different Trading Currencies
GACA.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, GACA.DE achieves a 10.44% return, which is significantly lower than MTUM's 24.95% return.
GACA.DE
- 1D
- -0.16%
- 1M
- 5.10%
- YTD
- 10.44%
- 6M
- 10.26%
- 1Y
- 20.78%
- 3Y*
- 17.51%
- 5Y*
- 13.63%
- 10Y*
- —
MTUM
- 1D
- -5.20%
- 1M
- 4.46%
- YTD
- 24.95%
- 6M
- 22.95%
- 1Y
- 32.62%
- 3Y*
- 28.49%
- 5Y*
- 14.80%
- 10Y*
- 16.30%
GACA.DE vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GACA.DE Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) | 10.44% | 3.94% | 29.59% | 21.02% | -14.66% | 38.66% | 7.33% | 8.54% |
MTUM iShares MSCI USA Momentum Factor ETF | 24.95% | 7.65% | 41.66% | 5.87% | -13.20% | 21.84% | 19.16% | 6.01% |
Correlation
The correlation between GACA.DE and MTUM is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2019 | 0.50 |
The correlation between GACA.DE and MTUM has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
GACA.DE vs. MTUM — Risk / Return Rank
GACA.DE
MTUM
GACA.DE vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GACA.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.
| GACA.DE | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.44 | -1.12 |
| Martin ratioReturn relative to average drawdown | 8.09 | 11.66 | -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. | |||
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Sharpe Ratios by Period
| GACA.DE | MTUM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 1.69 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.72 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.83 | +0.02 |
Drawdowns
GACA.DE vs. MTUM - Drawdown Comparison
The maximum GACA.DE drawdown since its inception was -33.50%, roughly equal to the maximum MTUM drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for GACA.DE and MTUM.
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Drawdown Indicators
| GACA.DE | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -33.58% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.95% | -9.54% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.68% | -24.93% | +1.25% |
Max Drawdown (5Y)Largest decline over 5 years | -23.68% | -25.86% | +2.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.58% | — |
Current DrawdownCurrent decline from peak | -0.33% | -6.36% | +6.03% |
Average DrawdownAverage peak-to-trough decline | -5.08% | -5.82% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.80% | -0.23% |
Volatility
GACA.DE vs. MTUM - Volatility Comparison
The current volatility for Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GACA.DE) is 3.46%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 8.98%. This indicates that GACA.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.
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Volatility by Period
| GACA.DE | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 8.98% | -5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 8.82% | 16.50% | -7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.00% | 19.46% | -6.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 20.67% | -5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 21.52% | -4.30% |
GACA.DE vs. MTUM - Expense Ratio Comparison
GACA.DE has a 0.14% expense ratio, which is lower than MTUM's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GACA.DE vs. MTUM - Dividend Comparison
GACA.DE has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GACA.DE Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS 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 | 0.64% | 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
GACA.DE and MTUM have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GACA.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GACA.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for MTUM.
GACA.DE is categorized as Large Cap Blend Equities, while MTUM is Momentum. GACA.DE tracks Goldman Sachs ActiveBeta US Large Cap Equity, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.14% for GACA.DE and 0.15% for MTUM.
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