IHAK vs. MTUM

Last updated Jul 15, 2026

IHAK (iShares Cybersecurity & Tech ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - IHAK is a Technology Equities fund tracking the NYSE FactSet Global Cyber Security Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, IHAK returned 9.06%/yr vs 14.59%/yr for MTUM. A 0.66 correlation means they provide meaningful diversification when combined. IHAK charges 0.47%/yr vs 0.15%/yr for MTUM.

Performance

IHAK vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Cybersecurity & Tech ETF (IHAK) 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, IHAK achieves a 35.68% return, which is significantly higher than MTUM's 28.00% return.

IHAK

• 1D: 4.18%
• 1M: 16.73%
• 6M: 33.19%
• YTD: 35.68%
• 1Y: 26.87%
• 3Y*: 19.85%
• 5Y*: 9.06%
• 10Y*: —

MTUM

• 1D: 1.63%
• 1M: -1.32%
• 6M: 23.75%
• YTD: 28.00%
• 1Y: 34.62%
• 3Y*: 31.08%
• 5Y*: 14.59%
• 10Y*: 16.52%

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

IHAK vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IHAK iShares Cybersecurity & Tech ETF	35.68%	-1.29%	7.60%	37.77%	-25.81%	11.13%	51.22%	6.48%
MTUM iShares MSCI USA Momentum Factor ETF	28.00%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	7.58%

Correlation

The correlation between IHAK and MTUM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.66

Over the past year, the correlation between IHAK and MTUM has dropped to 0.35 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

IHAK vs. MTUM - Sectors Allocation Comparison

Sectors	IHAK	MTUM
Technology	96.7%	50.2%
Industrials	2.8%	15.0%
Communication Services	0.4%	5.1%
Basic Materials	-	2.3%
Consumer Cyclical	-	2.9%
Consumer Defensive	-	3.7%
Energy	-	10.5%
Financial Services	-	5.0%
Healthcare	-	3.5%
Real Estate	-	1.3%
Utilities	-	0.6%

Return for Risk

IHAK vs. MTUM — Risk / Return Rank

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

IHAK

IHAK Risk / Return Rank: 32
IHAK Sharpe Ratio Rank: 36
IHAK Sortino Ratio Rank: 35
IHAK Omega Ratio Rank: 35
IHAK Calmar Ratio Rank: 29
IHAK Martin Ratio Rank: 27

MTUM

MTUM Risk / Return Rank: 60
MTUM Sharpe Ratio Rank: 53
MTUM Sortino Ratio Rank: 49
MTUM Omega Ratio Rank: 55
MTUM Calmar Ratio Rank: 74
MTUM Martin Ratio Rank: 71

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.

IHAK vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Cybersecurity & Tech ETF (IHAK) 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.

	IHAK	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.46	-0.41
Sortino ratio: Return per unit of downside risk	1.54	1.97	-0.43
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	1.19	3.01	-1.82
Martin ratio: Return relative to average drawdown	2.86	10.29	-7.42

IHAK vs. MTUM - Sharpe Ratio Comparison

The current IHAK Sharpe Ratio is 1.05, which is comparable to the MTUM Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IHAK 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

IHAK vs. MTUM - Drawdown Comparison

The maximum IHAK drawdown since its inception was -34.42%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for IHAK and MTUM.

Drawdown Indicators

	IHAK	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-34.42%	-34.08%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-11.54%	-11.06%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	-20.99%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	-34.42%	-32.28%	-2.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.08%	—
Current Drawdown Current decline from peak	0.00%	-7.38%	+7.38%
Average Drawdown Average peak-to-trough decline	-10.68%	-6.19%	-4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.41%	3.37%	+6.04%

Volatility

IHAK vs. MTUM - Volatility Comparison

The current volatility for iShares Cybersecurity & Tech ETF (IHAK) is 8.90%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 12.47%. This indicates that IHAK 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

	IHAK	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.90%	12.47%	-3.57%
Volatility (6M) Calculated over the trailing 6-month period	21.93%	21.55%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.59%	23.81%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.97%	21.55%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	21.52%	+3.02%

IHAK vs. MTUM - Expense Ratio Comparison

IHAK has a 0.47% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

IHAK vs. MTUM - Dividend Comparison

IHAK's dividend yield for the trailing twelve months is around 0.07%, less than MTUM's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHAK iShares Cybersecurity & Tech ETF	0.07%	0.08%	0.20%	0.13%	0.25%	0.50%	0.40%	0.50%	0.00%	0.00%	0.00%	0.00%
MTUM iShares MSCI USA Momentum Factor ETF	0.58%	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 IHAK and MTUM in my portfolio?

IHAK and MTUM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHAK or MTUM?

MTUM has higher volatility (12.47%) compared to IHAK (8.90%). In terms of maximum drawdown, IHAK dropped -34.42% vs MTUM's -34.08%.

Which ETF is better, IHAK or MTUM?

On 5-year performance, MTUM leads with 14.59% vs 9.06% for IHAK. On fees, MTUM is cheaper at 0.15% per year. On volatility, IHAK has been the lower-risk option at 8.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHAK or MTUM?

Over the 5-year period, MTUM has performed better with a 14.59% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHAK or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.47% for IHAK.

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

MTUM has the higher dividend yield at 0.58%, compared with 0.07% for IHAK.

What is the main difference between IHAK and MTUM?

IHAK is categorized as Technology Equities, while MTUM is Momentum. IHAK tracks NYSE FactSet Global Cyber Security Index, while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.47% for IHAK and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (1.46 vs 1.05), 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.