KAT vs. MTUM

Last updated Jun 25, 2026

KAT (Scharf ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - KAT is a Large Cap Blend Equities fund actively managed by Scharf Investments, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. KAT is actively managed, while MTUM is passively managed. At a 0.38 correlation, their price movements are largely independent. KAT charges 0.75%/yr vs 0.15%/yr for MTUM.

Performance

KAT vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf ETF (KAT) 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, KAT achieves a -2.12% return, which is significantly lower than MTUM's 31.46% return.

KAT

• 1D: 0.05%
• 1M: -2.43%
• YTD: -2.12%
• 6M: -2.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -0.41%
• 1M: 8.29%
• YTD: 31.46%
• 6M: 28.81%
• 1Y: 39.62%
• 3Y*: 33.68%
• 5Y*: 15.03%
• 10Y*: 17.44%

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

KAT vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025
KAT Scharf ETF	-2.12%	0.85%
MTUM iShares MSCI USA Momentum Factor ETF	31.46%	3.25%

Correlation

The correlation between KAT and MTUM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 25, 2025	0.38

KAT vs. MTUM - Sectors Allocation Comparison

Sectors	KAT	MTUM
Financial Services	25.1%	5.0%
Healthcare	22.3%	3.5%
Industrials	14.6%	15.0%
Technology	14.3%	50.2%
Energy	6.6%	10.5%
Communication Services	6.6%	5.1%
Consumer Cyclical	5.0%	2.9%
Basic Materials	3.3%	2.3%
Consumer Defensive	2.3%	3.7%
Real Estate	-	1.3%
Utilities	-	0.6%

Return for Risk

KAT vs. MTUM — Risk / Return Rank

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

KAT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MTUM

MTUM Risk / Return Rank: 66
MTUM Sharpe Ratio Rank: 60
MTUM Sortino Ratio Rank: 56
MTUM Omega Ratio Rank: 61
MTUM Calmar Ratio Rank: 75
MTUM Martin Ratio Rank: 76

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.

KAT vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf ETF (KAT) 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.

	KAT	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.82	—
Sortino ratio: Return per unit of downside risk	—	2.43	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.45	—
Martin ratio: Return relative to average drawdown	—	13.13	—

Drawdowns

KAT vs. MTUM - Drawdown Comparison

The maximum KAT drawdown since its inception was -9.25%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for KAT and MTUM.

Drawdown Indicators

	KAT	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-9.25%	-34.08%	+24.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.54%	—
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 Drawdown Current decline from peak	-7.33%	-4.87%	-2.46%
Average Drawdown Average peak-to-trough decline	-3.37%	-6.19%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.03%	—

Volatility

Volatility by Period

	KAT	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	21.89%	-11.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.58%	21.15%	-10.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.58%	21.31%	-10.73%

KAT vs. MTUM - Expense Ratio Comparison

KAT has a 0.75% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

KAT vs. MTUM - Dividend Comparison

KAT has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KAT Scharf ETF	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	0.56%	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 KAT and MTUM in my portfolio?

KAT and MTUM have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KAT or MTUM?

On fees, MTUM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KAT or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.75% for KAT.

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

MTUM has the higher dividend yield at 0.56%, compared with 0.00% for KAT.

What is the main difference between KAT and MTUM?

KAT is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Scharf Investments and iShares. Their fees differ too: 0.75% for KAT and 0.15% for MTUM.