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MTUM vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MTUM vs. AVDV

Last updated Jun 13, 2026

MTUM (iShares MSCI USA Momentum Factor ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. MTUM is passively managed, while AVDV is actively managed. Over the past 5 years, MTUM returned 14.96%/yr vs 13.63%/yr for AVDV. A 0.60 correlation means they provide meaningful diversification when combined. MTUM charges 0.15%/yr vs 0.36%/yr for AVDV.

Performance

MTUM vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Momentum Factor ETF (MTUM) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MTUM achieves a 29.72% return, which is significantly higher than AVDV's 14.99% return.

MTUM

1D
1.69%
1M
5.58%
YTD
29.72%
6M
30.51%
1Y
42.02%
3Y*
33.16%
5Y*
14.96%
10Y*
17.15%

AVDV

1D
0.89%
1M
-1.99%
YTD
14.99%
6M
17.18%
1Y
41.91%
3Y*
26.72%
5Y*
13.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MTUM vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
MTUM
iShares MSCI USA Momentum Factor ETF		29.72%22.15%32.89%9.15%-18.27%13.36%29.86%5.46%
AVDV
Avantis International Small Cap Value ETF		14.99%49.37%8.67%16.85%-11.47%15.80%5.01%11.78%

Correlation

The correlation between MTUM and AVDV is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.59

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.60

The correlation between MTUM and AVDV has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

MTUM vs. AVDV - Sectors Allocation Comparison

Sectors
MTUM
AVDV

Technology

44.4%
6.4%

Industrials

15.6%
21.3%

Financial Services

10.4%
13.7%

Communication Services

7.4%
2.0%

Healthcare

6.9%
2.1%

Consumer Cyclical

3.6%
14.4%

Energy

3.5%
10.8%

Consumer Defensive

3.3%
3.4%

Real Estate

1.8%
1.1%

Basic Materials

1.7%
22.5%

Utilities

1.6%
1.7%

Technology

MTUM
44.4%
AVDV
6.4%

Industrials

MTUM
15.6%
AVDV
21.3%

Financial Services

MTUM
10.4%
AVDV
13.7%

Communication Services

MTUM
7.4%
AVDV
2.0%

Healthcare

MTUM
6.9%
AVDV
2.1%

Consumer Cyclical

MTUM
3.6%
AVDV
14.4%

Energy

MTUM
3.5%
AVDV
10.8%

Consumer Defensive

MTUM
3.3%
AVDV
3.4%

Real Estate

MTUM
1.8%
AVDV
1.1%

Basic Materials

MTUM
1.7%
AVDV
22.5%

Utilities

MTUM
1.6%
AVDV
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Momentum Factor ETF

Avantis International Small Cap Value ETF

Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VOOMTUM vs. VFMOMTUM vs. QMOM
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

MTUM vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MTUM
MTUM Risk / Return Rank: 7373
Overall Rank
MTUM Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 6666
Sortino Ratio Rank
MTUM Omega Ratio Rank: 7070
Omega Ratio Rank
MTUM Calmar Ratio Rank: 7878
Calmar Ratio Rank
MTUM Martin Ratio Rank: 8181
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8686
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8686
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7171
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7676
Martin Ratio Rank
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. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and Avantis International Small Cap Value ETF (AVDV). 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.

MTUMAVDVDifference
Sharpe ratioReturn per unit of total volatility
1.96
2.53

-0.57

Sortino ratioReturn per unit of downside risk
2.62
3.36

-0.74

Omega ratioGain probability vs. loss probability

1.36

1.46

-0.10

Calmar ratioReturn relative to maximum drawdown

3.55

3.12

+0.43

Martin ratioReturn relative to average drawdown

13.66

12.44

+1.21

MTUM vs. AVDV - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 1.96, which is comparable to the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of MTUM and AVDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MTUM vs. AVDV - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for MTUM and AVDV.

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Drawdown Indicators

MTUMAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-34.08%

-43.01%

+8.93%

Max Drawdown (1Y)

Largest decline over 1 year

-11.54%

-13.19%

+1.65%

Max Drawdown (3Y)

Largest decline over 3 years

-20.99%

-14.17%

-6.82%

Max Drawdown (5Y)

Largest decline over 5 years

-32.28%

-28.08%

-4.20%

Max Drawdown (10Y)

Largest decline over 10 years

-34.08%

—

—

Current Drawdown

Current decline from peak

-1.55%

-2.24%

+0.69%

Average Drawdown

Average peak-to-trough decline

-6.20%

-6.76%

+0.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

3.30%

-0.31%

Volatility

MTUM vs. AVDV - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 10.89% compared to Avantis International Small Cap Value ETF (AVDV) at 6.26%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MTUMAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.89%

6.26%

+4.63%

Volatility (6M)

Calculated over the trailing 6-month period

18.63%

13.88%

+4.75%

Volatility (1Y)

Calculated over the trailing 1-year period

20.87%

16.25%

+4.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.94%

17.41%

+3.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.20%

19.77%

+1.43%

MTUM vs. AVDV - Expense Ratio Comparison

MTUM has a 0.15% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

MTUM vs. AVDV - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.61%, less than AVDV's 4.11% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.11%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
MTUM
iShares MSCI USA Momentum Factor ETF		0.61%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

MTUM and AVDV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (10.89%) compared to AVDV (6.26%). In terms of maximum drawdown, MTUM dropped -34.08% vs AVDV's -43.01%.

On 5-year performance, MTUM leads with 14.96% vs 13.63% for AVDV. On fees, MTUM is cheaper at 0.15% per year. On volatility, AVDV has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MTUM has performed better with a 14.96% return vs 13.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MTUM is cheaper with a 0.15% expense ratio, compared with 0.36% for AVDV.

AVDV has the higher dividend yield at 4.11%, compared with 0.61% for MTUM.

MTUM is categorized as Momentum, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.15% for MTUM and 0.36% for AVDV.

AVDV currently has the higher Sharpe Ratio (2.53 vs 1.96), 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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