MTUM vs. IBM
MTUM (iShares MSCI USA Momentum Factor ETF) is Momentum fund tracking the MSCI USA Momentum SR Variant Index, while IBM (International Business Machines Corporation) is a stock. Over the past 10 years, MTUM returned 17.54%/yr vs 10.88%/yr for IBM. At a 0.46 correlation, their price movements are largely independent.
Performance
MTUM vs. IBM - Performance Comparison
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Returns By Period
In the year-to-date period, MTUM achieves a 33.55% return, which is significantly higher than IBM's -8.10% return. Over the past 10 years, MTUM has outperformed IBM with an annualized return of 17.54%, while IBM has yielded a comparatively lower 10.88% annualized 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%
IBM
- 1D
- -1.30%
- 1M
- 22.53%
- YTD
- -8.10%
- 6M
- -11.80%
- 1Y
- -0.59%
- 3Y*
- 29.13%
- 5Y*
- 18.25%
- 10Y*
- 10.88%
MTUM vs. IBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 33.55% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
IBM International Business Machines Corporation | -8.10% | 38.23% | 39.27% | 21.85% | 10.64% | 16.65% | -1.16% | 23.58% | -22.56% | -3.99% |
Correlation
The correlation between MTUM and IBM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.46 |
Over the past year, the correlation between MTUM and IBM has dropped to 0.24 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
MTUM vs. IBM — Risk / Return Rank
MTUM
IBM
MTUM vs. IBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and International Business Machines Corporation (IBM). 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 | IBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.04 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | -0.02 | +4.04 |
| Martin ratioReturn relative to average drawdown | 15.48 | -0.04 | +15.52 |
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Drawdowns
MTUM vs. IBM - Drawdown Comparison
The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum IBM drawdown of -69.40%. Use the drawdown chart below to compare losses from any high point for MTUM and IBM.
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Drawdown Indicators
| MTUM | IBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.08% | -69.40% | +35.32% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -30.96% | +19.42% |
Max Drawdown (3Y)Largest decline over 3 years | -20.99% | -30.96% | +9.97% |
Max Drawdown (5Y)Largest decline over 5 years | -32.28% | -30.96% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -34.08% | -40.59% | +6.51% |
Current DrawdownCurrent decline from peak | 0.00% | -18.38% | +18.38% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -20.12% | +13.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 14.43% | -11.44% |
Volatility
MTUM vs. IBM - Volatility Comparison
The current volatility for iShares MSCI USA Momentum Factor ETF (MTUM) is 11.20%, while International Business Machines Corporation (IBM) has a volatility of 21.56%. This indicates that MTUM experiences smaller price fluctuations and is considered to be less risky than IBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTUM | IBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.20% | 21.56% | -10.36% |
Volatility (6M)Calculated over the trailing 6-month period | 18.83% | 34.63% | -15.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.08% | 39.52% | -18.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.99% | 27.18% | -6.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.23% | 26.60% | -5.37% |
Dividends
MTUM vs. IBM - Dividend Comparison
MTUM's dividend yield for the trailing twelve months is around 0.70%, less than IBM's 2.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBM International Business Machines Corporation | 2.50% | 2.27% | 3.03% | 4.05% | 4.68% | 4.74% | 5.17% | 4.80% | 5.46% | 3.85% | 3.31% | 3.63% |
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
MTUM and IBM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBM has higher volatility (21.56%) compared to MTUM (11.20%). In terms of maximum drawdown, MTUM dropped -34.08% vs IBM's -69.40%.
MTUM currently has the higher Sharpe Ratio (2.21 vs -0.01), 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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