MTUL vs. SMOM

Last updated Jun 4, 2026

MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) and SMOM (Symmetry Panoramic Sector Momentum ETF) are both exchange-traded funds - MTUL is a Momentum fund tracking the MSCI USA Momentum Index, while SMOM is a Large Cap Blend Equities fund actively managed by Symmetry Partners. MTUL is passively managed, while SMOM is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. MTUL charges 0.95%/yr vs 0.63%/yr for SMOM.

Performance

MTUL vs. SMOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) and Symmetry Panoramic Sector Momentum ETF (SMOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MTUL achieves a 60.22% return, which is significantly higher than SMOM's 9.82% return.

MTUL

• 1D: -0.74%
• 1M: 27.97%
• YTD: 60.22%
• 6M: 59.66%
• 1Y: 75.85%
• 3Y*: 59.49%
• 5Y*: 19.95%
• 10Y*: —

SMOM

• 1D: 0.27%
• 1M: 5.93%
• YTD: 9.82%
• 6M: 10.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MTUL vs. SMOM - Yearly Performance Comparison

	2026 (YTD)	2025
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN	60.22%	-1.35%
SMOM Symmetry Panoramic Sector Momentum ETF	9.82%	2.81%

Correlation

The correlation between MTUL and SMOM is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.77

Return for Risk

MTUL vs. SMOM — Risk / Return Rank

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

MTUL

MTUL Risk / Return Rank: 56
MTUL Sharpe Ratio Rank: 50
MTUL Sortino Ratio Rank: 47
MTUL Omega Ratio Rank: 50
MTUL Calmar Ratio Rank: 64
MTUL Martin Ratio Rank: 69

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.

MTUL vs. SMOM - 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 Symmetry Panoramic Sector Momentum ETF (SMOM). 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	SMOM	Difference
Sharpe ratio: Return per unit of total volatility	1.73	—	—
Sortino ratio: Return per unit of downside risk	2.33	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.20	—	—
Martin ratio: Return relative to average drawdown	12.78	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MTUL	SMOM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	1.45	-1.04

Drawdowns

MTUL vs. SMOM - Drawdown Comparison

The maximum MTUL drawdown since its inception was -56.83%, which is greater than SMOM's maximum drawdown of -7.45%. Use the drawdown chart below to compare losses from any high point for MTUL and SMOM.

Drawdown Indicators

	MTUL	SMOM	Difference
Max Drawdown Largest peak-to-trough decline	-56.83%	-7.45%	-49.38%
Max Drawdown (1Y) Largest decline over 1 year	-23.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-56.83%	—	—
Current Drawdown Current decline from peak	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-22.68%	-1.48%	-21.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	—	—

Volatility

Volatility by Period

	MTUL	SMOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	37.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.98%	12.62%	+31.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.81%	12.62%	+30.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.65%	12.62%	+31.03%

MTUL vs. SMOM - Expense Ratio Comparison

MTUL has a 0.95% expense ratio, which is higher than SMOM's 0.63% expense ratio.

Dividends

MTUL vs. SMOM - Dividend Comparison

MTUL has not paid dividends to shareholders, while SMOM's dividend yield for the trailing twelve months is around 0.15%.

Position	TTM	2025
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN	0.00%	0.00%
SMOM Symmetry Panoramic Sector Momentum ETF	0.15%	0.16%

Frequently Asked Questions

Can I hold both MTUL and SMOM in my portfolio?

MTUL and SMOM have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MTUL or SMOM?

On fees, SMOM is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MTUL or SMOM?

SMOM is cheaper with a 0.63% expense ratio, compared with 0.95% for MTUL.

Which ETF pays a higher dividend yield, MTUL or SMOM?

SMOM has the higher dividend yield at 0.15%, compared with 0.00% for MTUL.

What is the main difference between MTUL and SMOM?

MTUL is categorized as Momentum, while SMOM is Large Cap Blend Equities. They also come from different issuers: UBS and Symmetry Partners. Their fees differ too: 0.95% for MTUL and 0.63% for SMOM.