KOOL vs. MTUM

Last updated Jun 23, 2026

KOOL (North Shore Equity Rotation ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - KOOL is a Large Cap Blend Equities fund actively managed by North Shore, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. KOOL is actively managed, while MTUM is passively managed. Over the past year, KOOL returned 28.04% vs 50.96% for MTUM. Their correlation of 0.85 suggests significant overlap in exposure. KOOL charges 0.94%/yr vs 0.15%/yr for MTUM.

Performance

KOOL vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Shore Equity Rotation ETF (KOOL) 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, KOOL achieves a 13.81% return, which is significantly lower than MTUM's 38.19% return.

KOOL

• 1D: 0.32%
• 1M: -0.72%
• YTD: 13.81%
• 6M: 13.28%
• 1Y: 28.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.98%
• 1M: 13.83%
• YTD: 38.19%
• 6M: 36.52%
• 1Y: 50.96%
• 3Y*: 35.93%
• 5Y*: 16.53%
• 10Y*: 18.03%

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

KOOL vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KOOL North Shore Equity Rotation ETF	13.81%	16.05%	10.83%
MTUM iShares MSCI USA Momentum Factor ETF	38.19%	22.15%	11.07%

Correlation

The correlation between KOOL and MTUM is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.85

The correlation between KOOL and MTUM has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.

KOOL vs. MTUM - Sectors Allocation Comparison

Sectors	KOOL	MTUM
Technology	25.5%	50.2%
Energy	13.5%	10.5%
Industrials	13.0%	15.0%
Healthcare	8.3%	3.5%
Communication Services	7.7%	5.1%
Financial Services	7.4%	5.0%
Consumer Cyclical	6.2%	2.9%
Basic Materials	6.1%	2.3%
Utilities	6.1%	0.6%
Consumer Defensive	3.7%	3.7%
Real Estate	2.5%	1.3%

Return for Risk

KOOL vs. MTUM — Risk / Return Rank

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

KOOL

KOOL Risk / Return Rank: 69
KOOL Sharpe Ratio Rank: 65
KOOL Sortino Ratio Rank: 62
KOOL Omega Ratio Rank: 62
KOOL Calmar Ratio Rank: 78
KOOL Martin Ratio Rank: 79

MTUM

MTUM Risk / Return Rank: 79
MTUM Sharpe Ratio Rank: 78
MTUM Sortino Ratio Rank: 72
MTUM Omega Ratio Rank: 75
MTUM Calmar Ratio Rank: 85
MTUM Martin Ratio Rank: 85

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.

KOOL vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Shore Equity Rotation ETF (KOOL) 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.

	KOOL	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.39	-0.32
Sortino ratio: Return per unit of downside risk	2.80	3.10	-0.30
Omega ratio: Gain probability vs. loss probability	1.36	1.43	-0.06
Calmar ratio: Return relative to maximum drawdown	3.92	4.44	-0.52
Martin ratio: Return relative to average drawdown	14.88	17.05	-2.17

KOOL vs. MTUM - Sharpe Ratio Comparison

The current KOOL Sharpe Ratio is 2.07, which is comparable to the MTUM Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of KOOL 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

KOOL vs. MTUM - Drawdown Comparison

The maximum KOOL drawdown since its inception was -20.46%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for KOOL and MTUM.

Drawdown Indicators

	KOOL	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-20.46%	-34.08%	+13.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-11.54%	+4.36%
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	-2.20%	0.00%	-2.20%
Average Drawdown Average peak-to-trough decline	-2.52%	-6.19%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	3.00%	-1.11%

Volatility

KOOL vs. MTUM - Volatility Comparison

The current volatility for North Shore Equity Rotation ETF (KOOL) is 5.11%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.02%. This indicates that KOOL 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

	KOOL	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	11.02%	-5.91%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	18.88%	-7.82%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	21.48%	-7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	21.06%	-4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	21.28%	-4.22%

KOOL vs. MTUM - Expense Ratio Comparison

KOOL has a 0.94% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

KOOL vs. MTUM - Dividend Comparison

KOOL's dividend yield for the trailing twelve months is around 0.35%, less than MTUM's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KOOL North Shore Equity Rotation ETF	0.35%	0.37%	0.56%	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	0.54%	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 KOOL and MTUM in my portfolio?

KOOL and MTUM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KOOL or MTUM?

MTUM has higher volatility (11.02%) compared to KOOL (5.11%). In terms of maximum drawdown, KOOL dropped -20.46% vs MTUM's -34.08%.

Which ETF is better, KOOL or MTUM?

On 1-year performance, MTUM leads with 50.96% vs 28.04% for KOOL. On fees, MTUM is cheaper at 0.15% per year. On volatility, KOOL has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOOL or MTUM?

Over the 1-year period, MTUM has performed better with a 50.96% return vs 28.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOOL or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.94% for KOOL.

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

MTUM has the higher dividend yield at 0.54%, compared with 0.35% for KOOL.

What is the main difference between KOOL and MTUM?

KOOL is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: North Shore and iShares. Their fees differ too: 0.94% for KOOL and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.39 vs 2.07), 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.