MTUL vs. ITB
MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) and ITB (iShares U.S. Home Construction ETF) are both exchange-traded funds - MTUL is a Momentum fund tracking the MSCI USA Momentum Index, while ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index. Both are passively managed. Over the past 5 years, MTUL returned 20.61%/yr vs 6.86%/yr for ITB. At a 0.49 correlation, their price movements are largely independent. MTUL charges 0.95%/yr vs 0.42%/yr for ITB.
Performance
MTUL vs. ITB - Performance Comparison
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Returns By Period
In the year-to-date period, MTUL achieves a 61.42% return, which is significantly higher than ITB's -2.98% return.
MTUL
- 1D
- 4.73%
- 1M
- 28.31%
- YTD
- 61.42%
- 6M
- 62.09%
- 1Y
- 78.29%
- 3Y*
- 59.88%
- 5Y*
- 20.61%
- 10Y*
- —
ITB
- 1D
- 0.25%
- 1M
- -1.68%
- YTD
- -2.98%
- 6M
- -9.55%
- 1Y
- 6.64%
- 3Y*
- 7.58%
- 5Y*
- 6.86%
- 10Y*
- 13.74%
MTUL vs. ITB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 61.42% | 27.42% | 58.70% | 10.66% | -37.97% | 7.00% |
ITB iShares U.S. Home Construction ETF | -2.98% | -5.26% | 2.06% | 68.91% | -26.26% | 32.13% |
Correlation
The correlation between MTUL and ITB is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.49 |
Over the past year, the correlation between MTUL and ITB has dropped to 0.21 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
MTUL vs. ITB — Risk / Return Rank
MTUL
ITB
MTUL vs. ITB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) and iShares U.S. Home Construction ETF (ITB). 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.
| MTUL | ITB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.79 | 0.23 | +1.56 |
Sortino ratioReturn per unit of downside risk | 2.38 | 0.59 | +1.79 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.06 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 3.37 | 0.21 | +3.16 |
Martin ratioReturn relative to average drawdown | 13.47 | 0.42 | +13.05 |
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
| MTUL | ITB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 0.23 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.24 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.11 | +0.30 |
Drawdowns
MTUL vs. ITB - Drawdown Comparison
The maximum MTUL drawdown since its inception was -56.83%, smaller than the maximum ITB drawdown of -86.53%. Use the drawdown chart below to compare losses from any high point for MTUL and ITB.
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Drawdown Indicators
| MTUL | ITB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.83% | -86.53% | +29.70% |
Max Drawdown (1Y)Largest decline over 1 year | -23.86% | -26.04% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -39.15% | -33.35% | -5.80% |
Max Drawdown (5Y)Largest decline over 5 years | -56.83% | -40.55% | -16.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.10% | — |
Current DrawdownCurrent decline from peak | 0.00% | -26.45% | +26.45% |
Average DrawdownAverage peak-to-trough decline | -22.69% | -37.10% | +14.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.96% | 13.03% | -7.07% |
Volatility
MTUL vs. ITB - Volatility Comparison
ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a higher volatility of 20.26% compared to iShares U.S. Home Construction ETF (ITB) at 9.02%. This indicates that MTUL's price experiences larger fluctuations and is considered to be riskier than ITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTUL | ITB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.26% | 9.02% | +11.24% |
Volatility (6M)Calculated over the trailing 6-month period | 37.70% | 20.41% | +17.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.98% | 29.48% | +14.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.81% | 29.19% | +13.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.66% | 30.00% | +13.66% |
MTUL vs. ITB - Expense Ratio Comparison
MTUL has a 0.95% expense ratio, which is higher than ITB's 0.42% expense ratio.
Dividends
MTUL vs. ITB - Dividend Comparison
MTUL has not paid dividends to shareholders, while ITB's dividend yield for the trailing twelve months is around 1.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 1.22% | 1.67% | 0.46% | 0.48% | 0.86% | 0.37% | 0.46% | 0.50% | 0.63% | 0.28% | 0.43% | 0.34% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MTUL and ITB have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (20.26%) compared to ITB (9.02%). In terms of maximum drawdown, MTUL dropped -56.83% vs ITB's -86.53%.
On 5-year performance, MTUL leads with 20.61% vs 6.86% for ITB. On fees, ITB is cheaper at 0.42% per year. On volatility, ITB has been the lower-risk option at 9.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MTUL has performed better with a 20.61% return vs 6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.42% expense ratio, compared with 0.95% for MTUL.
ITB has the higher dividend yield at 1.22%, compared with 0.00% for MTUL.
MTUL is categorized as Momentum, while ITB is Building & Construction. MTUL tracks MSCI USA Momentum Index, while ITB tracks Dow Jones U.S. Select Home Construction Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for MTUL and 0.42% for ITB.
MTUL currently has the higher Sharpe Ratio (1.79 vs 0.23), 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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