MTUM vs. AVLV

Last updated Jun 13, 2026

MTUM (iShares MSCI USA Momentum Factor ETF) and AVLV (Avantis U.S. Large Cap Value ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while AVLV is a Large Cap Value Equities fund actively managed by Avantis. MTUM is passively managed, while AVLV is actively managed. Over the past 3 years, MTUM returned 33.16%/yr vs 22.42%/yr for AVLV. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

MTUM vs. AVLV - Performance Comparison

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

Returns By Period

In the year-to-date period, MTUM achieves a 29.72% return, which is significantly higher than AVLV's 21.54% 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%

AVLV

• 1D: 0.72%
• 1M: 3.54%
• YTD: 21.54%
• 6M: 21.48%
• 1Y: 39.76%
• 3Y*: 22.42%
• 5Y*: —
• 10Y*: —

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

MTUM vs. AVLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MTUM iShares MSCI USA Momentum Factor ETF	29.72%	22.15%	32.89%	9.15%	-18.27%	1.90%
AVLV Avantis U.S. Large Cap Value ETF	21.54%	15.12%	17.49%	17.43%	-5.53%	6.27%

Correlation

The correlation between MTUM and AVLV is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.78

The correlation between MTUM and AVLV has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

MTUM vs. AVLV - Sectors Allocation Comparison

Sectors	MTUM	AVLV
Technology	44.4%	17.2%
Industrials	15.6%	15.4%
Financial Services	10.4%	16.3%
Communication Services	7.4%	6.9%
Healthcare	6.9%	5.6%
Consumer Cyclical	3.6%	14.1%
Energy	3.5%	14.4%
Consumer Defensive	3.3%	7.7%
Real Estate	1.8%	0.1%
Basic Materials	1.7%	2.0%
Utilities	1.6%	0.3%

Return for Risk

MTUM vs. AVLV — Risk / Return Rank

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

MTUM

MTUM Risk / Return Rank: 73
MTUM Sharpe Ratio Rank: 70
MTUM Sortino Ratio Rank: 66
MTUM Omega Ratio Rank: 70
MTUM Calmar Ratio Rank: 78
MTUM Martin Ratio Rank: 81

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 92
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 94

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. AVLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and Avantis U.S. Large Cap Value ETF (AVLV). 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	AVLV	Difference
Sharpe ratio: Return per unit of total volatility	1.96	3.10	-1.14
Sortino ratio: Return per unit of downside risk	2.62	4.26	-1.64
Omega ratio: Gain probability vs. loss probability	1.36	1.56	-0.20
Calmar ratio: Return relative to maximum drawdown	3.55	6.07	-2.52
Martin ratio: Return relative to average drawdown	13.66	24.12	-10.47

MTUM vs. AVLV - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 1.96, which is lower than the AVLV Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of MTUM and AVLV, 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. AVLV - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, which is greater than AVLV's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for MTUM and AVLV.

Drawdown Indicators

	MTUM	AVLV	Difference
Max Drawdown Largest peak-to-trough decline	-34.08%	-19.50%	-14.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-6.39%	-5.15%
Max Drawdown (3Y) Largest decline over 3 years	-20.99%	-19.50%	-1.49%
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	-1.55%	0.00%	-1.55%
Average Drawdown Average peak-to-trough decline	-6.20%	-3.91%	-2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.61%	+1.38%

Volatility

MTUM vs. AVLV - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 10.89% compared to Avantis U.S. Large Cap Value ETF (AVLV) at 3.67%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTUM	AVLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.89%	3.67%	+7.22%
Volatility (6M) Calculated over the trailing 6-month period	18.63%	9.33%	+9.30%
Volatility (1Y) Calculated over the trailing 1-year period	20.87%	12.52%	+8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	17.34%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.20%	17.34%	+3.86%

MTUM vs. AVLV - Expense Ratio Comparison

Both MTUM and AVLV have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MTUM vs. AVLV - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.61%, less than AVLV's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVLV Avantis U.S. Large Cap Value ETF	1.37%	1.33%	1.58%	1.85%	2.00%	0.29%	0.00%	0.00%	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

Can I hold both MTUM and AVLV in my portfolio?

MTUM and AVLV have a correlation of 0.71, 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 AVLV?

MTUM has higher volatility (10.89%) compared to AVLV (3.67%). In terms of maximum drawdown, MTUM dropped -34.08% vs AVLV's -19.50%.

Which ETF is better, MTUM or AVLV?

On 3-year performance, MTUM leads with 33.16% vs 22.42% for AVLV. Both ETFs have the same 0.15% expense ratio. On volatility, AVLV has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MTUM or AVLV?

Over the 3-year period, MTUM has performed better with a 33.16% return vs 22.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MTUM or AVLV?

MTUM and AVLV have the same expense ratio: 0.15% per year.

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

AVLV has the higher dividend yield at 1.37%, compared with 0.61% for MTUM.

What is the main difference between MTUM and AVLV?

MTUM is categorized as Momentum, while AVLV is Large Cap Value Equities. They also come from different issuers: iShares and Avantis.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (3.10 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.