IQLT vs. MTUM

Last updated Jun 14, 2026

IQLT (iShares MSCI Intl Quality Factor ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - IQLT is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net), while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, IQLT returned 10.17%/yr vs 17.15%/yr for MTUM. A 0.62 correlation means they provide meaningful diversification when combined. IQLT charges 0.30%/yr vs 0.15%/yr for MTUM.

Performance

IQLT vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Intl Quality Factor ETF (IQLT) 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, IQLT achieves a 9.81% return, which is significantly lower than MTUM's 29.72% return. Over the past 10 years, IQLT has underperformed MTUM with an annualized return of 10.17%, while MTUM has yielded a comparatively higher 17.15% annualized return.

IQLT

• 1D: 0.04%
• 1M: 1.57%
• YTD: 9.81%
• 6M: 11.22%
• 1Y: 18.29%
• 3Y*: 14.25%
• 5Y*: 7.32%
• 10Y*: 10.17%

MTUM

• 1D: 1.69%
• 1M: 5.58%
• YTD: 29.72%
• 6M: 30.51%
• 1Y: 42.02%
• 3Y*: 33.16%
• 5Y*: 14.96%
• 10Y*: 17.15%

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

IQLT vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQLT iShares MSCI Intl Quality Factor ETF	9.81%	25.42%	1.54%	18.73%	-15.22%	12.94%	12.48%	28.18%	-10.76%	24.04%
MTUM iShares MSCI USA Momentum Factor ETF	29.72%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between IQLT and MTUM is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jan 15, 2015	0.62

The correlation between IQLT and MTUM has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

IQLT vs. MTUM - Sectors Allocation Comparison

Sectors	IQLT	MTUM
Financial Services	24.9%	5.0%
Industrials	17.8%	15.0%
Technology	11.8%	50.2%
Healthcare	9.2%	3.5%
Consumer Cyclical	8.2%	2.9%
Basic Materials	7.2%	2.3%
Consumer Defensive	6.4%	3.7%
Energy	5.6%	10.5%
Utilities	3.7%	0.6%
Communication Services	3.2%	5.1%
Real Estate	1.5%	1.3%

Return for Risk

IQLT vs. MTUM — Risk / Return Rank

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

IQLT

IQLT Risk / Return Rank: 37
IQLT Sharpe Ratio Rank: 36
IQLT Sortino Ratio Rank: 36
IQLT Omega Ratio Rank: 33
IQLT Calmar Ratio Rank: 37
IQLT Martin Ratio Rank: 43

MTUM

MTUM Risk / Return Rank: 73
MTUM Sharpe Ratio Rank: 70
MTUM Sortino Ratio Rank: 66
MTUM Omega Ratio Rank: 70
MTUM Calmar Ratio Rank: 78
MTUM Martin Ratio Rank: 81

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.

IQLT vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Quality Factor ETF (IQLT) 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.

	IQLT	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.96	-0.83
Sortino ratio: Return per unit of downside risk	1.67	2.62	-0.94
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.16
Calmar ratio: Return relative to maximum drawdown	1.63	3.55	-1.92
Martin ratio: Return relative to average drawdown	6.18	13.66	-7.47

IQLT vs. MTUM - Sharpe Ratio Comparison

The current IQLT Sharpe Ratio is 1.13, which is lower than the MTUM Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of IQLT 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

IQLT vs. MTUM - Drawdown Comparison

The maximum IQLT drawdown since its inception was -32.21%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for IQLT and MTUM.

Drawdown Indicators

	IQLT	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-32.21%	-34.08%	+1.87%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-11.54%	+1.16%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-20.99%	+7.81%
Max Drawdown (5Y) Largest decline over 5 years	-30.24%	-32.28%	+2.04%
Max Drawdown (10Y) Largest decline over 10 years	-32.21%	-34.08%	+1.87%
Current Drawdown Current decline from peak	-0.04%	-1.55%	+1.51%
Average Drawdown Average peak-to-trough decline	-6.21%	-6.20%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.99%	-0.25%

Volatility

IQLT vs. MTUM - Volatility Comparison

The current volatility for iShares MSCI Intl Quality Factor ETF (IQLT) is 5.41%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 10.89%. This indicates that IQLT 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

	IQLT	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	10.89%	-5.48%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	18.63%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	20.87%	-5.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	20.94%	-4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	21.20%	-4.20%

IQLT vs. MTUM - Expense Ratio Comparison

IQLT has a 0.30% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

IQLT vs. MTUM - Dividend Comparison

IQLT's dividend yield for the trailing twelve months is around 2.12%, more than MTUM's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQLT iShares MSCI Intl Quality Factor ETF	2.12%	2.33%	2.87%	2.27%	3.14%	2.24%	1.61%	2.28%	2.72%	2.36%	2.91%	2.78%
MTUM iShares MSCI USA Momentum Factor ETF	0.61%	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 IQLT and MTUM in my portfolio?

IQLT and MTUM have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQLT or MTUM?

MTUM has higher volatility (10.89%) compared to IQLT (5.41%). In terms of maximum drawdown, IQLT dropped -32.21% vs MTUM's -34.08%.

Which ETF is better, IQLT or MTUM?

On 10-year performance, MTUM leads with 17.15% vs 10.17% for IQLT. On fees, MTUM is cheaper at 0.15% per year. On volatility, IQLT has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQLT or MTUM?

Over the 10-year period, MTUM has performed better with a 17.15% return vs 10.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQLT or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.30% for IQLT.

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

IQLT has the higher dividend yield at 2.12%, compared with 0.61% for MTUM.

What is the main difference between IQLT and MTUM?

IQLT is categorized as Foreign Large Cap Equities, while MTUM is Momentum. IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net), while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.30% for IQLT and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (1.96 vs 1.13), 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.