MODL vs. MTUM

Last updated Jun 3, 2026

MODL (Victoryshares Westend U.S. Sector ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - MODL is a Large Cap Blend Equities fund actively managed by Victory, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. MODL is actively managed, while MTUM is passively managed. Over the past 3 years, MODL returned 20.33%/yr vs 34.28%/yr for MTUM. Their correlation of 0.81 suggests significant overlap in exposure. MODL charges 0.46%/yr vs 0.15%/yr for MTUM.

Performance

MODL vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victoryshares Westend U.S. Sector ETF (MODL) 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, MODL achieves a 7.80% return, which is significantly lower than MTUM's 30.37% return.

MODL

• 1D: -0.17%
• 1M: 4.08%
• YTD: 7.80%
• 6M: 8.04%
• 1Y: 24.87%
• 3Y*: 20.33%
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 2.87%
• 1M: 14.36%
• YTD: 30.37%
• 6M: 31.51%
• 1Y: 40.75%
• 3Y*: 34.28%
• 5Y*: 15.20%
• 10Y*: 17.19%

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

MODL vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MODL Victoryshares Westend U.S. Sector ETF	7.80%	18.99%	24.73%	23.74%	7.13%
MTUM iShares MSCI USA Momentum Factor ETF	30.37%	22.15%	32.89%	9.15%	9.35%

Correlation

The correlation between MODL and MTUM is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 13, 2022	0.81

The correlation between MODL and MTUM has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

MODL vs. MTUM - Sectors Allocation Comparison

Sectors	MODL	MTUM
Technology	32.3%	44.4%
Financial Services	17.4%	10.4%
Communication Services	16.4%	7.4%
Healthcare	14.9%	6.9%
Consumer Cyclical	5.0%	3.6%
Consumer Defensive	4.5%	3.3%
Utilities	4.2%	1.6%
Industrials	4.1%	15.6%
Energy	0.0%	3.5%
Basic Materials	-	1.7%
Real Estate	-	1.8%

Return for Risk

MODL vs. MTUM — Risk / Return Rank

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

MODL

MODL Risk / Return Rank: 64
MODL Sharpe Ratio Rank: 67
MODL Sortino Ratio Rank: 68
MODL Omega Ratio Rank: 66
MODL Calmar Ratio Rank: 53
MODL Martin Ratio Rank: 65

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: 72
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.

MODL vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) 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.

	MODL	MTUM	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.15	+0.09
Sortino ratio Return per unit of downside risk	3.16	2.92	+0.25
Omega ratio Gain probability vs. loss probability	1.40	1.39	+0.02
Calmar ratio Return relative to maximum drawdown	2.68	3.63	-0.95
Martin ratio Return relative to average drawdown	12.07	14.50	-2.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MODL vs. MTUM - Sharpe Ratio Comparison

The current MODL Sharpe Ratio is 2.24, which is comparable to the MTUM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of MODL 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

	MODL	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.15	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.84	+0.74

Drawdowns

MODL vs. MTUM - Drawdown Comparison

The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for MODL and MTUM.

Drawdown Indicators

	MODL	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-34.08%	+16.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-11.54%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-20.99%	+3.39%
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	-0.17%	0.00%	-0.17%
Average Drawdown Average peak-to-trough decline	-2.04%	-6.21%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.89%	-0.79%

Volatility

MODL vs. MTUM - Volatility Comparison

The current volatility for Victoryshares Westend U.S. Sector ETF (MODL) is 2.63%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.73%. This indicates that MODL 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

	MODL	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	7.73%	-5.10%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	16.49%	-8.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.14%	19.03%	-7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	20.59%	-6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.59%	21.04%	-6.45%

MODL vs. MTUM - Expense Ratio Comparison

MODL has a 0.46% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

MODL vs. MTUM - Dividend Comparison

MODL's dividend yield for the trailing twelve months is around 0.67%, more than MTUM's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MODL Victoryshares Westend U.S. Sector ETF	0.67%	0.67%	0.83%	1.02%	0.39%	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 MODL and MTUM in my portfolio?

MODL and MTUM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MODL or MTUM?

MTUM has higher volatility (7.73%) compared to MODL (2.63%). In terms of maximum drawdown, MODL dropped -17.60% vs MTUM's -34.08%.

Which ETF is better, MODL or MTUM?

On 3-year performance, MTUM leads with 34.28% vs 20.33% for MODL. On fees, MTUM is cheaper at 0.15% per year. On volatility, MODL has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MODL or MTUM?

Over the 3-year period, MTUM has performed better with a 34.28% return vs 20.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MODL or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.46% for MODL.

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

MODL has the higher dividend yield at 0.67%, compared with 0.60% for MTUM.

What is the main difference between MODL and MTUM?

MODL is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Victory and iShares. Their fees differ too: 0.46% for MODL and 0.15% for MTUM.

Which has better risk-adjusted returns?

MODL currently has the higher Sharpe Ratio (2.24 vs 2.15), 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.