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 15.55%/yr vs 6.57%/yr for ITB. Their 0.47 correlation means their historical movements had little consistent relationship. MTUL charges 0.95%/yr vs 0.38%/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 38.03% return, which is significantly higher than ITB's -1.69% return.
MTUL
- 1D
- 1.89%
- 1M
- -13.31%
- 6M
- 35.38%
- YTD
- 38.03%
- 1Y
- 49.92%
- 3Y*
- 45.94%
- 5Y*
- 15.55%
- 10Y*
- —
- ALL TIME*
- 14.25%
ITB
- 1D
- -1.18%
- 1M
- -8.32%
- 6M
- -7.21%
- YTD
- -1.69%
- 1Y
- -5.06%
- 3Y*
- 2.79%
- 5Y*
- 6.57%
- 10Y*
- 13.43%
- ALL TIME*
- 4.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $179.18M | $195.32M | $218.82M | |
| $228.72K | $153.30K | $113.30K |
MTUL vs. ITB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 38.03% | 27.42% | 58.70% | 10.66% | -37.97% | 8.34% |
ITB iShares U.S. Home Construction ETF | -1.69% | -5.26% | 2.06% | 68.91% | -26.26% | 35.77% |
Correlation
The correlation between MTUL and ITB is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.47 |
Over the past year, the correlation between MTUL and ITB has dropped to 0.22 - well below their long-term average of 0.47, 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.
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.
| MTUL | ITB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.01 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | -0.10 | +1.59 |
| Martin ratioReturn relative to average drawdown | 6.15 | -0.17 | +6.33 |
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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 | -32.27% | -26.04% | -6.23% |
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 | -22.74% | -25.47% | +2.73% |
Average DrawdownAverage peak-to-trough decline | -22.29% | -36.98% | +14.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.79% | 14.54% | -6.75% |
Volatility
MTUL vs. ITB - Volatility Comparison
ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a higher volatility of 26.81% compared to iShares U.S. Home Construction ETF (ITB) at 8.79%. 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 | 26.81% | 8.79% | +18.02% |
Volatility (6M)Calculated over the trailing 6-month period | 50.13% | 22.03% | +28.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.27% | 29.51% | +26.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.40% | 29.57% | +15.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.65% | 30.20% | +15.45% |
MTUL vs. ITB - Expense Ratio Comparison
MTUL has a 0.95% expense ratio, which is higher than ITB's 0.38% 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 0.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 0.68% | 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 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (26.81%) compared to ITB (8.79%). In terms of maximum drawdown, MTUL dropped -56.83% vs ITB's -86.53%.
On 5-year performance, MTUL leads with 15.55% vs 6.57% for ITB. On fees, ITB is cheaper at 0.38% per year. On volatility, ITB has been the lower-risk option at 8.79%. 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 15.55% return vs 6.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 0.95% for MTUL.
ITB has the higher dividend yield at 0.68%, 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 0.38% for ITB.
MTUL currently has the higher Sharpe Ratio (0.85 vs -0.09), 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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