GSEP vs. MTUM
GSEP (FT Cboe Vest U.S. Equity Moderate Buffer ETF – September) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - GSEP is a Options Trading fund actively managed by FT Vest, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. GSEP is actively managed, while MTUM is passively managed. Over the past year, GSEP returned 11.93% vs 26.36% for MTUM. Their 0.79 correlation means they have sometimes moved together and sometimes differently. GSEP charges 0.85%/yr vs 0.15%/yr for MTUM.
Performance
GSEP vs. MTUM - Performance Comparison
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Returns By Period
In the year-to-date period, GSEP achieves a 6.61% return, which is significantly lower than MTUM's 19.93% return.
GSEP
- 1D
- 0.38%
- 1M
- 0.84%
- 6M
- 5.77%
- YTD
- 6.61%
- 1Y
- 11.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.55%
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) |
|---|---|---|---|
| $768.49K | $1.16M | $3.28M | |
| $558.09M | $637.73M | $538.11M |
GSEP vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GSEP FT Cboe Vest U.S. Equity Moderate Buffer ETF – September | 6.61% | 10.56% | 10.85% | 4.70% |
MTUM iShares MSCI USA Momentum Factor ETF | 19.93% | 22.15% | 32.89% | 9.53% |
Correlation
The correlation between GSEP and MTUM is 0.77, 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. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.79 |
The correlation between GSEP and MTUM has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.
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Return for Risk
GSEP vs. MTUM — Risk / Return Rank
GSEP
MTUM
GSEP vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) 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.
| GSEP | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.19 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.40 | +1.13 |
| Martin ratioReturn relative to average drawdown | 12.62 | 5.72 | +6.90 |
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Drawdowns
GSEP vs. MTUM - Drawdown Comparison
The maximum GSEP drawdown since its inception was -10.09%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for GSEP and MTUM.
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Drawdown Indicators
| GSEP | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.09% | -34.08% | +23.99% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | -17.99% | +13.55% |
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 | 0.00% | -13.22% | +13.22% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -6.22% | +5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 4.39% | -3.50% |
Volatility
GSEP vs. MTUM - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) is 1.40%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.22%. This indicates that GSEP 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
| GSEP | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 11.22% | -9.82% |
Volatility (6M)Calculated over the trailing 6-month period | 4.80% | 23.33% | -18.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 25.53% | -19.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 21.89% | -14.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.49% | 21.72% | -14.23% |
GSEP vs. MTUM - Expense Ratio Comparison
GSEP has a 0.85% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
GSEP vs. MTUM - Dividend Comparison
GSEP has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.62%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSEP FT Cboe Vest U.S. Equity Moderate Buffer ETF – September | 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 | 0.62% | 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
GSEP and MTUM have a correlation of 0.77, 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 GSEP (1.40%). In terms of maximum drawdown, GSEP dropped -10.09% vs MTUM's -34.08%.
On 1-year performance, MTUM leads with 26.36% vs 11.93% for GSEP. On fees, MTUM is cheaper at 0.15% per year. On volatility, GSEP has been the lower-risk option at 1.40%. 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 11.93%. 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 0.85% for GSEP.
MTUM has the higher dividend yield at 0.62%, compared with 0.00% for GSEP.
GSEP is categorized as Options Trading, while MTUM is Momentum. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for GSEP and 0.15% for MTUM.
GSEP currently has the higher Sharpe Ratio (1.84 vs 0.99), 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.
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