LCAP vs. MTUM

Last updated Jun 4, 2026

LCAP (Principal Capital Appreciation Select ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - LCAP is a Large Cap Blend Equities fund actively managed by Principal, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. LCAP is actively managed, while MTUM is passively managed. Over the past year, LCAP returned 27.27% vs 41.76% for MTUM. Their correlation of 0.83 suggests significant overlap in exposure. LCAP charges 0.29%/yr vs 0.15%/yr for MTUM.

Performance

LCAP vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Capital Appreciation Select ETF (LCAP) 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, LCAP achieves a 12.02% return, which is significantly lower than MTUM's 31.75% return.

LCAP

• 1D: -0.87%
• 1M: 3.30%
• YTD: 12.02%
• 6M: 11.68%
• 1Y: 27.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.06%
• 1M: 15.90%
• YTD: 31.75%
• 6M: 32.38%
• 1Y: 41.76%
• 3Y*: 34.75%
• 5Y*: 15.21%
• 10Y*: 17.31%

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

LCAP vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025
LCAP Principal Capital Appreciation Select ETF	12.02%	18.16%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	21.78%

Correlation

The correlation between LCAP and MTUM is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.83

The correlation between LCAP and MTUM has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

LCAP vs. MTUM - Sectors Allocation Comparison

Sectors	LCAP	MTUM
Technology	36.0%	44.4%
Consumer Cyclical	13.3%	3.6%
Financial Services	12.5%	10.4%
Communication Services	11.0%	7.4%
Healthcare	9.3%	6.9%
Industrials	6.1%	15.6%
Energy	3.8%	3.5%
Utilities	3.2%	1.6%
Basic Materials	1.6%	1.7%
Real Estate	1.6%	1.8%
Consumer Defensive	1.4%	3.3%

Return for Risk

LCAP vs. MTUM — Risk / Return Rank

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

LCAP

LCAP Risk / Return Rank: 65
LCAP Sharpe Ratio Rank: 65
LCAP Sortino Ratio Rank: 67
LCAP Omega Ratio Rank: 63
LCAP Calmar Ratio Rank: 60
LCAP Martin Ratio Rank: 67

MTUM

MTUM Risk / Return Rank: 67
MTUM Sharpe Ratio Rank: 64
MTUM Sortino Ratio Rank: 62
MTUM Omega Ratio Rank: 63
MTUM Calmar Ratio Rank: 71
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.

LCAP vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Capital Appreciation Select ETF (LCAP) 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.

	LCAP	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.20	-0.07
Sortino ratio: Return per unit of downside risk	3.02	2.98	+0.05
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.94	3.64	-0.70
Martin ratio: Return relative to average drawdown	12.03	14.50	-2.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCAP vs. MTUM - Sharpe Ratio Comparison

The current LCAP Sharpe Ratio is 2.14, which is comparable to the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of LCAP 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

	LCAP	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.20	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.85	+0.74

Drawdowns

LCAP vs. MTUM - Drawdown Comparison

The maximum LCAP drawdown since its inception was -11.31%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for LCAP and MTUM.

Drawdown Indicators

	LCAP	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-34.08%	+22.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-11.54%	+2.22%
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	-0.87%	0.00%	-0.87%
Average Drawdown Average peak-to-trough decline	-1.61%	-6.21%	+4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.89%	-0.62%

Volatility

LCAP vs. MTUM - Volatility Comparison

The current volatility for Principal Capital Appreciation Select ETF (LCAP) is 2.98%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that LCAP 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

	LCAP	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	7.68%	-4.70%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	16.46%	-6.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.82%	19.04%	-6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	20.60%	-3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	21.03%	-4.15%

LCAP vs. MTUM - Expense Ratio Comparison

LCAP has a 0.29% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

LCAP vs. MTUM - Dividend Comparison

LCAP's dividend yield for the trailing twelve months is around 0.10%, less than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCAP Principal Capital Appreciation Select ETF	0.10%	0.11%	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	0.60%	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 LCAP and MTUM in my portfolio?

LCAP and MTUM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCAP or MTUM?

MTUM has higher volatility (7.68%) compared to LCAP (2.98%). In terms of maximum drawdown, LCAP dropped -11.31% vs MTUM's -34.08%.

Which ETF is better, LCAP or MTUM?

On 1-year performance, MTUM leads with 41.76% vs 27.27% for LCAP. On fees, MTUM is cheaper at 0.15% per year. On volatility, LCAP has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCAP or MTUM?

Over the 1-year period, MTUM has performed better with a 41.76% return vs 27.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCAP or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.29% for LCAP.

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

MTUM has the higher dividend yield at 0.60%, compared with 0.10% for LCAP.

What is the main difference between LCAP and MTUM?

LCAP is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Principal and iShares. Their fees differ too: 0.29% for LCAP and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 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.