MTUM vs. ARKB

Last updated Jun 16, 2026

MTUM (iShares MSCI USA Momentum Factor ETF) and ARKB (ARK 21Shares Bitcoin ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while ARKB is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, MTUM returned 46.22% vs -36.82% for ARKB. At a 0.40 correlation, their price movements are largely independent. MTUM charges 0.15%/yr vs 0.21%/yr for ARKB.

Performance

MTUM vs. ARKB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Momentum Factor ETF (MTUM) and ARK 21Shares Bitcoin ETF (ARKB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MTUM achieves a 33.55% return, which is significantly higher than ARKB's -23.93% return.

MTUM

• 1D: 2.96%
• 1M: 11.98%
• YTD: 33.55%
• 6M: 34.98%
• 1Y: 46.22%
• 3Y*: 33.86%
• 5Y*: 15.90%
• 10Y*: 17.54%

ARKB

• 1D: 4.79%
• 1M: -15.85%
• YTD: -23.93%
• 6M: -22.44%
• 1Y: -36.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MTUM vs. ARKB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MTUM iShares MSCI USA Momentum Factor ETF	33.55%	22.15%	31.70%
ARKB ARK 21Shares Bitcoin ETF	-23.93%	-6.59%	86.54%

Correlation

The correlation between MTUM and ARKB is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.40

Return for Risk

MTUM vs. ARKB — Risk / Return Rank

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

MTUM

MTUM Risk / Return Rank: 79
MTUM Sharpe Ratio Rank: 77
MTUM Sortino Ratio Rank: 72
MTUM Omega Ratio Rank: 76
MTUM Calmar Ratio Rank: 83
MTUM Martin Ratio Rank: 84

ARKB

ARKB Risk / Return Rank: 3
ARKB Sharpe Ratio Rank: 3
ARKB Sortino Ratio Rank: 3
ARKB Omega Ratio Rank: 3
ARKB Calmar Ratio Rank: 3
ARKB Martin Ratio Rank: 3

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.

MTUM vs. ARKB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and ARK 21Shares Bitcoin ETF (ARKB). 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.

	MTUM	ARKB	Difference
Sharpe ratio: Return per unit of total volatility	2.21	-0.84	+3.04
Sortino ratio: Return per unit of downside risk	2.90	-1.12	+4.02
Omega ratio: Gain probability vs. loss probability	1.40	0.87	+0.52
Calmar ratio: Return relative to maximum drawdown	4.02	-0.71	+4.73
Martin ratio: Return relative to average drawdown	15.48	-1.24	+16.72

MTUM vs. ARKB - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 2.21, which is higher than the ARKB Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of MTUM and ARKB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MTUM vs. ARKB - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum ARKB drawdown of -52.04%. Use the drawdown chart below to compare losses from any high point for MTUM and ARKB.

Drawdown Indicators

	MTUM	ARKB	Difference
Max Drawdown Largest peak-to-trough decline	-34.08%	-52.04%	+17.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-52.04%	+40.50%
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 Drawdown Current decline from peak	0.00%	-47.03%	+47.03%
Average Drawdown Average peak-to-trough decline	-6.20%	-16.61%	+10.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	29.75%	-26.76%

Volatility

MTUM vs. ARKB - Volatility Comparison

The current volatility for iShares MSCI USA Momentum Factor ETF (MTUM) is 11.20%, while ARK 21Shares Bitcoin ETF (ARKB) has a volatility of 12.88%. This indicates that MTUM experiences smaller price fluctuations and is considered to be less risky than ARKB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTUM	ARKB	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.20%	12.88%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	18.83%	34.67%	-15.84%
Volatility (1Y) Calculated over the trailing 1-year period	21.08%	44.23%	-23.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	50.14%	-29.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	50.14%	-28.91%

MTUM vs. ARKB - Expense Ratio Comparison

MTUM has a 0.15% expense ratio, which is lower than ARKB's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MTUM vs. ARKB - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.70%, while ARKB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKB ARK 21Shares Bitcoin ETF	0.00%	0.00%	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	0.70%	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

Can I hold both MTUM and ARKB in my portfolio?

MTUM and ARKB have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTUM or ARKB?

ARKB has higher volatility (12.88%) compared to MTUM (11.20%). In terms of maximum drawdown, MTUM dropped -34.08% vs ARKB's -52.04%.

Which ETF is better, MTUM or ARKB?

On 1-year performance, MTUM leads with 46.22% vs -36.82% for ARKB. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 11.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MTUM or ARKB?

Over the 1-year period, MTUM has performed better with a 46.22% return vs -36.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MTUM or ARKB?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.21% for ARKB.

Which ETF pays a higher dividend yield, MTUM or ARKB?

MTUM has the higher dividend yield at 0.70%, compared with 0.00% for ARKB.

What is the main difference between MTUM and ARKB?

MTUM is categorized as Momentum, while ARKB is Cryptocurrency. MTUM tracks MSCI USA Momentum SR Variant Index, while ARKB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: iShares and ARK. Their fees differ too: 0.15% for MTUM and 0.21% for ARKB.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.21 vs -0.84), 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.