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JMOM vs. MTUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JMOM vs. MTUM

Last updated Aug 2, 2026
Documentation

JMOM (JPMorgan U.S. Momentum Factor ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both Momentum funds - JMOM tracks the JP Morgan US Momentum Factor Index while MTUM tracks the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, JMOM returned 13.81%/yr vs 12.62%/yr for MTUM. Their correlation of 0.87 means they have usually moved in the same direction. JMOM charges 0.12%/yr vs 0.15%/yr for MTUM.

Performance

JMOM vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan U.S. Momentum Factor ETF (JMOM) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with JMOM having a 19.05% return and MTUM slightly higher at 19.93%.

JMOM

1D
0.32%
1M
-2.82%
6M
15.79%
YTD
19.05%
1Y
27.58%
3Y*
24.00%
5Y*
13.81%
10Y*
—
ALL TIME*
15.68%

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

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

JMOM

JPMorgan U.S. Momentum Factor ETF
$17.83M$12.92M$9.17M

MTUM

iShares MSCI USA Momentum Factor ETF
$558.09M$637.73M$538.11M

JMOM vs. MTUM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JMOM
JPMorgan U.S. Momentum Factor ETF		19.05%18.02%28.47%22.89%-20.83%25.03%29.25%28.24%-5.25%3.36%
MTUM
iShares MSCI USA Momentum Factor ETF		19.93%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%2.44%

Correlation

The correlation between JMOM and MTUM is 0.93, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.93

Correlation (3Y)
Balances recent behavior with more history.

0.93

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.91

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2017

0.87

The correlation between JMOM and MTUM has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

JMOM vs. MTUM - Sectors Allocation Comparison

Sectors
JMOM
MTUM

Technology

39.8%
48.3%

Industrials

13.3%
12.1%

Healthcare

9.5%
4.2%

Financial Services

9.2%
5.2%

Consumer Cyclical

7.7%
3.0%

Communication Services

6.5%
4.4%

Consumer Defensive

4.8%
3.7%

Energy

3.2%
11.5%

Real Estate

2.6%
1.5%

Utilities

2.3%
3.7%

Basic Materials

1.2%
2.2%

Technology

JMOM
39.8%
MTUM
48.3%

Industrials

JMOM
13.3%
MTUM
12.1%

Healthcare

JMOM
9.5%
MTUM
4.2%

Financial Services

JMOM
9.2%
MTUM
5.2%

Consumer Cyclical

JMOM
7.7%
MTUM
3.0%

Communication Services

JMOM
6.5%
MTUM
4.4%

Consumer Defensive

JMOM
4.8%
MTUM
3.7%

Energy

JMOM
3.2%
MTUM
11.5%

Real Estate

JMOM
2.6%
MTUM
1.5%

Utilities

JMOM
2.3%
MTUM
3.7%

Basic Materials

JMOM
1.2%
MTUM
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan U.S. Momentum Factor ETF

iShares MSCI USA Momentum Factor ETF

Often compared with JMOM:
JMOM vs. SPMOJMOM vs. VOOJMOM vs. QMOMJMOM vs. QQQJMOM vs. SCHGJMOM vs. BIBLJMOM vs. HWWA.L
Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. QMOM

Return for Risk

JMOM vs. MTUM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
JMOM
JMOM Risk / Return Rank: 7575
Overall Rank
JMOM Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
JMOM Sortino Ratio Rank: 6868
Sortino Ratio Rank
JMOM Omega Ratio Rank: 6666
Omega Ratio Rank
JMOM Calmar Ratio Rank: 8585
Calmar Ratio Rank
JMOM Martin Ratio Rank: 8686
Martin Ratio Rank
MTUM
MTUM Risk / Return Rank: 4242
Overall Rank
MTUM Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 3939
Sortino Ratio Rank
MTUM Omega Ratio Rank: 4141
Omega Ratio Rank
MTUM Calmar Ratio Rank: 4040
Calmar Ratio Rank
MTUM Martin Ratio Rank: 4949
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JMOM vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan U.S. Momentum Factor ETF (JMOM) 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.

JMOMMTUMDifference
Sharpe ratioReturn per unit of total volatility
1.58
0.99

+0.59

Sortino ratioReturn per unit of downside risk
2.21
1.45

+0.77

Omega ratioGain probability vs. loss probability

1.28

1.19

+0.08

Calmar ratioReturn relative to maximum drawdown

3.25

1.40

+1.85

Martin ratioReturn relative to average drawdown

12.11

5.72

+6.38

JMOM vs. MTUM - Sharpe Ratio Comparison

The current JMOM Sharpe Ratio is 1.58, which is higher than the MTUM Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of JMOM 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.

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Drawdowns

JMOM vs. MTUM - Drawdown Comparison

The maximum JMOM drawdown since its inception was -34.31%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for JMOM and MTUM.

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Drawdown Indicators

JMOMMTUMDifference

Max Drawdown

Largest peak-to-trough decline

-34.31%

-34.08%

-0.23%

Max Drawdown (1Y)

Largest decline over 1 year

-8.02%

-17.99%

+9.97%

Max Drawdown (3Y)

Largest decline over 3 years

-19.51%

-20.99%

+1.48%

Max Drawdown (5Y)

Largest decline over 5 years

-28.26%

-32.28%

+4.02%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.08%

—

Current Drawdown

Current decline from peak

-5.41%

-13.22%

+7.81%

Average Drawdown

Average peak-to-trough decline

-6.25%

-6.22%

-0.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

4.39%

-2.24%

Volatility

JMOM vs. MTUM - Volatility Comparison

The current volatility for JPMorgan U.S. Momentum Factor ETF (JMOM) is 5.37%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.22%. This indicates that JMOM 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

JMOMMTUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.37%

11.22%

-5.85%

Volatility (6M)

Calculated over the trailing 6-month period

14.03%

23.33%

-9.30%

Volatility (1Y)

Calculated over the trailing 1-year period

16.53%

25.53%

-9.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.99%

21.89%

-2.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.18%

21.72%

-1.54%

JMOM vs. MTUM - Expense Ratio Comparison

JMOM has a 0.12% 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

JMOM vs. MTUM - Dividend Comparison

JMOM's dividend yield for the trailing twelve months is around 0.75%, more than MTUM's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
JMOM
JPMorgan U.S. Momentum Factor ETF		0.75%0.86%0.75%1.21%1.39%0.64%0.85%1.11%1.38%0.29%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

With a correlation of 0.93, JMOM and MTUM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

MTUM has higher volatility (11.22%) compared to JMOM (5.37%). In terms of maximum drawdown, JMOM dropped -34.31% vs MTUM's -34.08%.

On 5-year performance, JMOM leads with 13.81% vs 12.62% for MTUM. On fees, JMOM is cheaper at 0.12% per year. On volatility, JMOM has been the lower-risk option at 5.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JMOM has performed better with a 13.81% return vs 12.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JMOM is cheaper with a 0.12% expense ratio, compared with 0.15% for MTUM.

JMOM has the higher dividend yield at 0.75%, compared with 0.62% for MTUM.

JMOM tracks JP Morgan US Momentum Factor Index, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.12% for JMOM and 0.15% for MTUM.

JMOM currently has the higher Sharpe Ratio (1.58 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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