MMTM vs. VLU

Last updated Jun 23, 2026

MMTM (SPDR S&P 1500 Momentum Tilt ETF) and VLU (SPDR S&P 1500 Value Tilt ETF) are both exchange-traded funds - MMTM is a Momentum fund tracking the S&P 1500 Positive Momentum Tilt Index, while VLU is a Large Cap Value Equities fund tracking the S&P 1500 Low Valuation Tilt Index. Both are passively managed. Over the past 10 years, MMTM returned 15.09%/yr vs 14.21%/yr for VLU. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.12% expense ratio.

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.

Returns By Period

In the year-to-date period, MMTM achieves a 7.75% return, which is significantly lower than VLU's 13.20% return. Over the past 10 years, MMTM has outperformed VLU with an annualized return of 15.09%, while VLU has yielded a comparatively lower 14.21% annualized return.

MMTM

• 1D: -0.01%
• 1M: -1.56%
• YTD: 7.75%
• 6M: 7.09%
• 1Y: 23.38%
• 3Y*: 21.27%
• 5Y*: 13.21%
• 10Y*: 15.09%

VLU

• 1D: 0.07%
• 1M: 0.71%
• YTD: 13.20%
• 6M: 12.60%
• 1Y: 28.80%
• 3Y*: 20.24%
• 5Y*: 12.54%
• 10Y*: 14.21%

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

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	7.75%	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	13.20%	16.70%	17.24%	17.18%	-8.24%	30.95%	9.91%	26.20%	-7.89%	18.16%

Correlation

The correlation between MMTM and VLU is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012	0.63

The correlation between MMTM and VLU shifts across timeframes, from 0.63 (all time) to 0.83 (5 years), reflecting how their relationship changes across market environments.

MMTM vs. VLU - Sectors Allocation Comparison

Sectors	MMTM	VLU
Technology	32.3%	19.1%
Financial Services	15.1%	18.4%
Consumer Cyclical	12.1%	10.7%
Healthcare	10.7%	11.5%
Communication Services	7.4%	8.8%
Industrials	7.3%	8.3%
Consumer Defensive	6.2%	7.1%
Real Estate	3.0%	3.4%
Utilities	2.4%	3.5%
Basic Materials	1.9%	2.6%
Energy	1.6%	6.6%

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: 51
MMTM Sharpe Ratio Rank: 49
MMTM Sortino Ratio Rank: 47
MMTM Omega Ratio Rank: 47
MMTM Calmar Ratio Rank: 49
MMTM Martin Ratio Rank: 60

VLU

VLU Risk / Return Rank: 86
VLU Sharpe Ratio Rank: 85
VLU Sortino Ratio Rank: 85
VLU Omega Ratio Rank: 84
VLU Calmar Ratio Rank: 86
VLU Martin Ratio Rank: 88

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.

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.

	MMTM	VLU	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.64	-1.00
Sortino ratio: Return per unit of downside risk	2.27	3.66	-1.39
Omega ratio: Gain probability vs. loss probability	1.29	1.48	-0.19
Calmar ratio: Return relative to maximum drawdown	2.37	4.56	-2.19
Martin ratio: Return relative to average drawdown	10.47	18.19	-7.72

MMTM vs. VLU - Sharpe Ratio Comparison

The current MMTM Sharpe Ratio is 1.63, which is lower than the VLU Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of MMTM and VLU, 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

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	-9.89%	-6.34%	-3.55%
Max Drawdown (3Y) Largest decline over 3 years	-22.08%	-16.22%	-5.86%
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	-2.74%	-1.25%	-1.49%
Average Drawdown Average peak-to-trough decline	-4.19%	-3.73%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.59%	+0.65%

Volatility

MMTM vs. VLU - Volatility Comparison

SPDR S&P 1500 Momentum Tilt ETF (MMTM) has a higher volatility of 3.47% compared to SPDR S&P 1500 Value Tilt ETF (VLU) at 2.94%. 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	3.47%	2.94%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	7.90%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.40%	11.00%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.23%	15.39%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	18.06%	+0.62%

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%.

Dividends

MMTM vs. VLU - Dividend Comparison

MMTM's dividend yield for the trailing twelve months is around 1.08%, less than VLU's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMTM SPDR S&P 1500 Momentum Tilt ETF	1.08%	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	2.05%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%

Frequently Asked Questions

Can I hold both MMTM and VLU in my portfolio?

MMTM and VLU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMTM or VLU?

MMTM has higher volatility (3.47%) compared to VLU (2.94%). In terms of maximum drawdown, MMTM dropped -33.85% vs VLU's -37.39%.

Which ETF is better, MMTM or VLU?

On 10-year performance, MMTM leads with 15.09% vs 14.21% for VLU. Both ETFs have the same 0.12% expense ratio. On volatility, VLU has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMTM or VLU?

Over the 10-year period, MMTM has performed better with a 15.09% return vs 14.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMTM or VLU?

MMTM and VLU have the same expense ratio: 0.12% per year.

Which ETF pays a higher dividend yield, MMTM or VLU?

VLU has the higher dividend yield at 2.05%, compared with 1.08% for MMTM.

What is the main difference between MMTM and VLU?

MMTM is categorized as Momentum, while VLU is Large Cap Value Equities. MMTM tracks S&P 1500 Positive Momentum Tilt Index, while VLU tracks S&P 1500 Low Valuation Tilt Index.

Which has better risk-adjusted returns?

VLU currently has the higher Sharpe Ratio (2.63 vs 1.63), 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.