MMTM vs. VLU

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P 1500 Momentum Tilt ETF (MMTM) and SPDR S&P 1500 Value Tilt ETF (VLU).

MMTM and VLU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MMTM is a passively managed fund by State Street that tracks the performance of the S&P 1500 Positive Momentum Tilt Index. It was launched on Oct 24, 2012. VLU is a passively managed fund by State Street that tracks the performance of the S&P 1500 Low Valuation Tilt Index. It was launched on Oct 24, 2012. Both MMTM and VLU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MMTM vs. VLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 1500 Momentum Tilt ETF (MMTM) and SPDR S&P 1500 Value Tilt ETF (VLU). The values are adjusted to include any dividend payments, if applicable.

MMTM vs. VLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMTM SPDR S&P 1500 Momentum Tilt ETF	-3.86%	13.26%	29.94%	22.49%	-16.12%	26.33%	19.27%	29.98%	-4.62%	24.41%
VLU SPDR S&P 1500 Value Tilt ETF	2.50%	16.70%	17.24%	17.18%	-8.24%	30.95%	9.91%	26.20%	-7.89%	18.16%

Returns By Period

In the year-to-date period, MMTM achieves a -3.86% return, which is significantly lower than VLU's 2.50% return. Both investments have delivered pretty close results over the past 10 years, with MMTM having a 13.75% annualized return and VLU not far behind at 13.18%.

MMTM

• 1D: 3.46%
• 1M: -4.81%
• YTD: -3.86%
• 6M: -1.50%
• 1Y: 17.36%
• 3Y*: 19.53%
• 5Y*: 12.04%
• 10Y*: 13.75%

VLU

• 1D: 2.04%
• 1M: -3.82%
• YTD: 2.50%
• 6M: 6.27%
• 1Y: 19.18%
• 3Y*: 17.17%
• 5Y*: 11.22%
• 10Y*: 13.18%

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

MMTM vs. VLU - Expense Ratio Comparison

Both MMTM and VLU have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

MMTM

SPDR S&P 1500 Momentum Tilt ETF

VLU

SPDR S&P 1500 Value Tilt ETF

Return for Risk

MMTM vs. VLU — Risk / Return Rank

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

MMTM

MMTM Risk / Return Rank: 54
MMTM Sharpe Ratio Rank: 47
MMTM Sortino Ratio Rank: 50
MMTM Omega Ratio Rank: 53
MMTM Calmar Ratio Rank: 57
MMTM Martin Ratio Rank: 65

VLU

VLU Risk / Return Rank: 70
VLU Sharpe Ratio Rank: 68
VLU Sortino Ratio Rank: 68
VLU Omega Ratio Rank: 72
VLU Calmar Ratio Rank: 67
VLU 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.

MMTM vs. VLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Momentum Tilt ETF (MMTM) and SPDR S&P 1500 Value Tilt ETF (VLU). 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.

	MMTM	VLU	Difference
Sharpe ratio Return per unit of total volatility	0.82	1.15	-0.33
Sortino ratio Return per unit of downside risk	1.30	1.67	-0.37
Omega ratio Gain probability vs. loss probability	1.19	1.26	-0.07
Calmar ratio Return relative to maximum drawdown	1.36	1.63	-0.27
Martin ratio Return relative to average drawdown	6.29	7.78	-1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMTM vs. VLU - Sharpe Ratio Comparison

The current MMTM Sharpe Ratio is 0.82, which is comparable to the VLU Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of MMTM and VLU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MMTM	VLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	1.15	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.73	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.73	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.78	+0.02

Correlation

The correlation between MMTM and VLU is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MMTM vs. VLU - Dividend Comparison

MMTM's dividend yield for the trailing twelve months is around 0.89%, less than VLU's 1.78% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMTM SPDR S&P 1500 Momentum Tilt ETF	0.89%	0.86%	0.83%	1.16%	1.67%	0.95%	1.14%	1.55%	1.64%	1.52%	1.98%	1.68%
VLU SPDR S&P 1500 Value Tilt ETF	1.78%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%

Drawdowns

MMTM vs. VLU - Drawdown Comparison

The maximum MMTM drawdown since its inception was -33.85%, smaller than the maximum VLU drawdown of -37.39%. Use the drawdown chart below to compare losses from any high point for MMTM and VLU.

Drawdown Indicators

	MMTM	VLU	Difference
Max Drawdown Largest peak-to-trough decline	-33.85%	-37.39%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-12.40%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-23.72%	-19.55%	-4.17%
Max Drawdown (10Y) Largest decline over 10 years	-33.85%	-37.39%	+3.54%
Current Drawdown Current decline from peak	-6.78%	-4.43%	-2.35%
Average Drawdown Average peak-to-trough decline	-4.24%	-3.78%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.60%	+0.25%

Volatility

MMTM vs. VLU - Volatility Comparison

SPDR S&P 1500 Momentum Tilt ETF (MMTM) has a higher volatility of 6.48% compared to SPDR S&P 1500 Value Tilt ETF (VLU) at 4.31%. This indicates that MMTM's price experiences larger fluctuations and is considered to be riskier than VLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMTM	VLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	4.31%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	8.61%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	21.25%	16.77%	+4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	15.46%	+2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	18.09%	+0.59%