MSLC vs. MTUM
MSLC (Morgan Stanley Pathway Large Cap Equity ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - MSLC is a Large Cap Blend Equities fund actively managed by Morgan Stanley, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. MSLC is actively managed, while MTUM is passively managed. Over the past year, MSLC returned 22.69% vs 41.76% for MTUM. Their correlation of 0.85 suggests significant overlap in exposure. MSLC charges 0.39%/yr vs 0.15%/yr for MTUM.
Performance
MSLC vs. MTUM - Performance Comparison
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Returns By Period
In the year-to-date period, MSLC achieves a 8.55% return, which is significantly lower than MTUM's 31.75% return.
MSLC
- 1D
- -0.82%
- 1M
- 4.08%
- YTD
- 8.55%
- 6M
- 8.69%
- 1Y
- 22.69%
- 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%
MSLC vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSLC Morgan Stanley Pathway Large Cap Equity ETF | 8.55% | 15.68% | -3.29% |
MTUM iShares MSCI USA Momentum Factor ETF | 31.75% | 22.15% | -2.51% |
Correlation
The correlation between MSLC and MTUM is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024 | 0.85 |
The correlation between MSLC and MTUM has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
MSLC vs. MTUM — Risk / Return Rank
MSLC
MTUM
MSLC vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Large Cap Equity ETF (MSLC) 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.
| MSLC | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.64 | -1.19 |
| Martin ratioReturn relative to average drawdown | 10.76 | 14.50 | -3.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSLC | MTUM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.20 | -0.27 |
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 | 0.83 | 0.85 | -0.02 |
Drawdowns
MSLC vs. MTUM - Drawdown Comparison
The maximum MSLC drawdown since its inception was -17.86%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for MSLC and MTUM.
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Drawdown Indicators
| MSLC | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.86% | -34.08% | +16.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.31% | -11.54% | +2.23% |
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 DrawdownCurrent decline from peak | -0.82% | 0.00% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -6.21% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.89% | -0.78% |
Volatility
MSLC vs. MTUM - Volatility Comparison
The current volatility for Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is 2.87%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that MSLC 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.
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Volatility by Period
| MSLC | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 7.68% | -4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 8.86% | 16.46% | -7.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.77% | 19.04% | -7.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 20.60% | -3.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.11% | 21.03% | -3.92% |
MSLC vs. MTUM - Expense Ratio Comparison
MSLC has a 0.39% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
MSLC vs. MTUM - Dividend Comparison
MSLC's dividend yield for the trailing twelve months is around 1.98%, more than MTUM's 0.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSLC Morgan Stanley Pathway Large Cap Equity ETF | 1.98% | 2.15% | 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
MSLC and MTUM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (7.68%) compared to MSLC (2.87%). In terms of maximum drawdown, MSLC dropped -17.86% vs MTUM's -34.08%.
On 1-year performance, MTUM leads with 41.76% vs 22.69% for MSLC. On fees, MTUM is cheaper at 0.15% per year. On volatility, MSLC has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MTUM has performed better with a 41.76% return vs 22.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MTUM is cheaper with a 0.15% expense ratio, compared with 0.39% for MSLC.
MSLC has the higher dividend yield at 1.98%, compared with 0.60% for MTUM.
MSLC is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Morgan Stanley and iShares. Their fees differ too: 0.39% for MSLC and 0.15% for MTUM.
MTUM currently has the higher Sharpe Ratio (2.20 vs 1.94), 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.
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