MTB vs. IAT
MTB (M&T Bank Corporation) is a stock, while IAT (iShares U.S. Regional Banks ETF) is Financials Equities fund tracking the Dow Jones U.S. Select Regional Banks Index. Over the past 10 years, MTB returned 11.37%/yr vs 9.76%/yr for IAT. Their correlation of 0.87 means they have usually moved in the same direction.
Performance
MTB vs. IAT - Performance Comparison
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Returns By Period
In the year-to-date period, MTB achieves a 23.95% return, which is significantly higher than IAT's 16.55% return. Over the past 10 years, MTB has outperformed IAT with an annualized return of 11.37%, while IAT has yielded a comparatively lower 9.76% annualized return.
MTB
- 1D
- -0.29%
- 1M
- 3.10%
- 6M
- 12.71%
- YTD
- 23.95%
- 1Y
- 37.09%
- 3Y*
- 25.24%
- 5Y*
- 16.71%
- 10Y*
- 11.37%
- ALL TIME*
- 12.29%
IAT
- 1D
- 0.05%
- 1M
- 1.29%
- 6M
- 10.79%
- YTD
- 16.55%
- 1Y
- 33.38%
- 3Y*
- 22.18%
- 5Y*
- 5.94%
- 10Y*
- 9.76%
- ALL TIME*
- 3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.75M | $9.87M | $9.53M | |
| $294.32M | $288.80M | $256.33M |
MTB vs. IAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTB M&T Bank Corporation | 23.95% | 10.89% | 41.66% | -1.68% | -2.94% | 24.28% | -22.16% | 21.65% | -14.58% | 11.35% |
IAT iShares U.S. Regional Banks ETF | 16.55% | 13.05% | 24.36% | -8.53% | -20.61% | 38.89% | -7.60% | 31.38% | -17.45% | 10.42% |
Correlation
The correlation between MTB and IAT is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.87 |
The correlation between MTB and IAT has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
MTB vs. IAT — Risk / Return Rank
MTB
IAT
MTB vs. IAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for M&T Bank Corporation (MTB) and iShares U.S. Regional Banks ETF (IAT). 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.
| MTB | IAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.75 | +0.29 |
| Martin ratioReturn relative to average drawdown | 5.01 | 4.51 | +0.49 |
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Drawdowns
MTB vs. IAT - Drawdown Comparison
The maximum MTB drawdown since its inception was -73.50%, roughly equal to the maximum IAT drawdown of -77.22%. Use the drawdown chart below to compare losses from any high point for MTB and IAT.
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Drawdown Indicators
| MTB | IAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.50% | -77.22% | +3.72% |
Max Drawdown (1Y)Largest decline over 1 year | -16.98% | -17.49% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -28.20% | -29.29% | +1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -40.71% | -55.55% | +14.84% |
Max Drawdown (10Y)Largest decline over 10 years | -52.97% | -55.55% | +2.58% |
Current DrawdownCurrent decline from peak | -3.05% | -2.53% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -12.37% | -26.77% | +14.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.89% | 6.77% | +0.12% |
Volatility
MTB vs. IAT - Volatility Comparison
M&T Bank Corporation (MTB) has a higher volatility of 6.50% compared to iShares U.S. Regional Banks ETF (IAT) at 5.49%. This indicates that MTB's price experiences larger fluctuations and is considered to be riskier than IAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTB | IAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 5.49% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.19% | 16.01% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.94% | 21.95% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.07% | 28.76% | +1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.73% | 30.67% | +2.06% |
Dividends
MTB vs. IAT - Dividend Comparison
MTB's dividend yield for the trailing twelve months is around 2.44%, less than IAT's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 2.54% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
MTB M&T Bank Corporation | 2.44% | 3.24% | 2.85% | 3.79% | 3.31% | 2.93% | 3.46% | 2.42% | 2.48% | 1.75% | 1.79% | 2.31% |
Frequently Asked Questions
With a correlation of 0.90, MTB and IAT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MTB has higher volatility (6.50%) compared to IAT (5.49%). In terms of maximum drawdown, MTB dropped -73.50% vs IAT's -77.22%.
MTB currently has the higher Sharpe Ratio (1.58 vs 1.40), 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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