ITOT vs. MTUM

Last updated Jun 5, 2026

ITOT (iShares Core S&P Total U.S. Stock Market ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, ITOT returned 15.01%/yr vs 17.19%/yr for MTUM. Their correlation of 0.86 suggests significant overlap in exposure. ITOT charges 0.03%/yr vs 0.15%/yr for MTUM.

Performance

ITOT vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Total U.S. Stock Market ETF (ITOT) 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, ITOT achieves a 11.78% return, which is significantly lower than MTUM's 30.30% return. Over the past 10 years, ITOT has underperformed MTUM with an annualized return of 15.01%, while MTUM has yielded a comparatively higher 17.19% annualized return.

ITOT

• 1D: 0.48%
• 1M: 4.64%
• YTD: 11.78%
• 6M: 11.52%
• 1Y: 28.81%
• 3Y*: 22.39%
• 5Y*: 12.80%
• 10Y*: 15.01%

MTUM

• 1D: -1.10%
• 1M: 11.94%
• YTD: 30.30%
• 6M: 29.99%
• 1Y: 40.55%
• 3Y*: 34.34%
• 5Y*: 14.96%
• 10Y*: 17.19%

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

ITOT vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.78%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%
MTUM iShares MSCI USA Momentum Factor ETF	30.30%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between ITOT and MTUM is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 19, 2013	0.86

The correlation between ITOT and MTUM has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

ITOT vs. MTUM - Sectors Allocation Comparison

Sectors	ITOT	MTUM
Technology	33.8%	44.4%
Financial Services	12.1%	10.4%
Communication Services	10.3%	7.4%
Consumer Cyclical	10.1%	3.6%
Industrials	9.5%	15.6%
Healthcare	9.0%	6.9%
Consumer Defensive	4.7%	3.3%
Energy	3.7%	3.5%
Real Estate	2.4%	1.8%
Utilities	2.3%	1.6%
Basic Materials	2.1%	1.7%

Return for Risk

ITOT vs. MTUM — Risk / Return Rank

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

ITOT

ITOT Risk / Return Rank: 73
ITOT Sharpe Ratio Rank: 74
ITOT Sortino Ratio Rank: 73
ITOT Omega Ratio Rank: 72
ITOT Calmar Ratio Rank: 66
ITOT Martin Ratio Rank: 78

MTUM

MTUM Risk / Return Rank: 68
MTUM Sharpe Ratio Rank: 65
MTUM Sortino Ratio Rank: 64
MTUM Omega Ratio Rank: 64
MTUM Calmar Ratio Rank: 72
MTUM Martin Ratio Rank: 75

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.

ITOT vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Total U.S. Stock Market ETF (ITOT) 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.

	ITOT	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.14	+0.24
Sortino ratio: Return per unit of downside risk	3.24	2.90	+0.34
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	3.25	3.53	-0.28
Martin ratio: Return relative to average drawdown	14.92	14.10	+0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITOT vs. MTUM - Sharpe Ratio Comparison

The current ITOT Sharpe Ratio is 2.37, which is comparable to the MTUM Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ITOT 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.

Sharpe Ratios by Period

	ITOT	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.14	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.73	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.82	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.84	-0.27

Drawdowns

ITOT vs. MTUM - Drawdown Comparison

The maximum ITOT drawdown since its inception was -55.20%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for ITOT and MTUM.

Drawdown Indicators

	ITOT	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-55.20%	-34.08%	-21.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-11.54%	+2.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-20.99%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-32.28%	+6.92%
Max Drawdown (10Y) Largest decline over 10 years	-35.00%	-34.08%	-0.92%
Current Drawdown Current decline from peak	-0.25%	-1.10%	+0.85%
Average Drawdown Average peak-to-trough decline	-6.97%	-6.21%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.89%	-0.95%

Volatility

ITOT vs. MTUM - Volatility Comparison

The current volatility for iShares Core S&P Total U.S. Stock Market ETF (ITOT) is 2.94%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.67%. This indicates that ITOT 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

	ITOT	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	7.67%	-4.73%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	16.51%	-7.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	19.08%	-6.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	20.60%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	21.03%	-2.77%

ITOT vs. MTUM - Expense Ratio Comparison

ITOT has a 0.03% 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

ITOT vs. MTUM - Dividend Comparison

ITOT's dividend yield for the trailing twelve months is around 0.97%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.97%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
MTUM iShares MSCI USA Momentum Factor ETF	0.60%	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 ITOT and MTUM in my portfolio?

ITOT and MTUM have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITOT or MTUM?

MTUM has higher volatility (7.67%) compared to ITOT (2.94%). In terms of maximum drawdown, ITOT dropped -55.20% vs MTUM's -34.08%.

Which ETF is better, ITOT or MTUM?

On 10-year performance, MTUM leads with 17.19% vs 15.01% for ITOT. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITOT or MTUM?

Over the 10-year period, MTUM has performed better with a 17.19% return vs 15.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITOT or MTUM?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.15% for MTUM.

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

ITOT has the higher dividend yield at 0.97%, compared with 0.60% for MTUM.

What is the main difference between ITOT and MTUM?

ITOT is categorized as Large Cap Blend Equities, while MTUM is Momentum. ITOT tracks S&P Total Market Index, while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.03% for ITOT and 0.15% for MTUM.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.37 vs 2.14), 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.