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MTUM vs. QMOM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MTUM vs. QMOM

Last updated Aug 2, 2026
Documentation

MTUM (iShares MSCI USA Momentum Factor ETF) and QMOM (Alpha Architect U.S. Quantitative Momentum ETF) are both Momentum funds. MTUM is passively managed, while QMOM is actively managed. Over the past 10 years, MTUM returned 15.71%/yr vs 12.30%/yr for QMOM. Their 0.79 correlation means they have sometimes moved together and sometimes differently. MTUM charges 0.15%/yr vs 0.28%/yr for QMOM.

Performance

MTUM vs. QMOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Momentum Factor ETF (MTUM) and Alpha Architect U.S. Quantitative Momentum ETF (QMOM). 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 19.93% return, which is significantly higher than QMOM's 12.94% return. Over the past 10 years, MTUM has outperformed QMOM with an annualized return of 15.71%, while QMOM has yielded a comparatively lower 12.30% annualized return.

MTUM

1D
0.27%
1M
-5.35%
6M
17.31%
YTD
19.93%
1Y
26.36%
3Y*
27.89%
5Y*
12.62%
10Y*
15.71%
ALL TIME*
15.62%

QMOM

1D
-0.42%
1M
-2.80%
6M
8.63%
YTD
12.94%
1Y
17.87%
3Y*
17.31%
5Y*
9.60%
10Y*
12.30%
ALL TIME*
12.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

MTUM

iShares MSCI USA Momentum Factor ETF
$558.09M$637.73M$538.11M

QMOM

Alpha Architect U.S. Quantitative Momentum ETF
$1.43M$1.49M$2.25M

MTUM vs. QMOM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MTUM
iShares MSCI USA Momentum Factor ETF		19.93%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%37.50%
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		12.94%2.36%30.43%9.50%-6.99%-4.06%61.94%28.39%-11.75%15.92%

Correlation

The correlation between MTUM and QMOM is 0.85, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.84

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.84

Correlation (10Y)
Provides a long-term view across more market conditions.

0.81

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2016

0.79

The correlation between MTUM and QMOM has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

MTUM vs. QMOM - Sectors Allocation Comparison

Sectors
MTUM
QMOM

Technology

48.3%
20.4%

Industrials

12.1%
24.6%

Energy

11.5%
15.8%

Financial Services

5.2%
1.9%

Communication Services

4.4%
2.0%

Healthcare

4.2%
17.9%

Utilities

3.7%
2.0%

Consumer Defensive

3.7%
2.0%

Consumer Cyclical

3.0%
5.8%

Basic Materials

2.2%
13.5%

Real Estate

1.5%

-

Technology

MTUM
48.3%
QMOM
20.4%

Industrials

MTUM
12.1%
QMOM
24.6%

Energy

MTUM
11.5%
QMOM
15.8%

Financial Services

MTUM
5.2%
QMOM
1.9%

Communication Services

MTUM
4.4%
QMOM
2.0%

Healthcare

MTUM
4.2%
QMOM
17.9%

Utilities

MTUM
3.7%
QMOM
2.0%

Consumer Defensive

MTUM
3.7%
QMOM
2.0%

Consumer Cyclical

MTUM
3.0%
QMOM
5.8%

Basic Materials

MTUM
2.2%
QMOM
13.5%

Real Estate

MTUM
1.5%
QMOM

-

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

Alpha Architect U.S. Quantitative Momentum ETF

Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. IDMO
Often compared with QMOM:
QMOM vs. SPMOQMOM vs. VFMOQMOM vs. IWMO.LQMOM vs. VOOQMOM vs. XMMOQMOM vs. AVUVQMOM vs. AMOM

Return for Risk

MTUM vs. QMOM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MTUM
MTUM Risk / Return Rank: 4242
Overall Rank
MTUM Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 3939
Sortino Ratio Rank
MTUM Omega Ratio Rank: 4141
Omega Ratio Rank
MTUM Calmar Ratio Rank: 4040
Calmar Ratio Rank
MTUM Martin Ratio Rank: 4949
Martin Ratio Rank
QMOM
QMOM Risk / Return Rank: 3131
Overall Rank
QMOM Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
QMOM Sortino Ratio Rank: 2727
Sortino Ratio Rank
QMOM Omega Ratio Rank: 2727
Omega Ratio Rank
QMOM Calmar Ratio Rank: 3737
Calmar Ratio Rank
QMOM Martin Ratio Rank: 3737
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MTUM vs. QMOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and Alpha Architect U.S. Quantitative Momentum ETF (QMOM). 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.

MTUMQMOMDifference
Sharpe ratioReturn per unit of total volatility
0.99
0.63

+0.36

Sortino ratioReturn per unit of downside risk
1.45
1.03

+0.42

Omega ratioGain probability vs. loss probability

1.19

1.13

+0.07

Calmar ratioReturn relative to maximum drawdown

1.40

1.27

+0.13

Martin ratioReturn relative to average drawdown

5.72

3.80

+1.93

MTUM vs. QMOM - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 0.99, which is higher than the QMOM Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of MTUM and QMOM, 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. QMOM - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum QMOM drawdown of -39.13%. Use the drawdown chart below to compare losses from any high point for MTUM and QMOM.

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Drawdown Indicators

MTUMQMOMDifference

Max Drawdown

Largest peak-to-trough decline

-34.08%

-39.13%

+5.05%

Max Drawdown (1Y)

Largest decline over 1 year

-17.99%

-12.76%

-5.23%

Max Drawdown (3Y)

Largest decline over 3 years

-20.99%

-26.46%

+5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-32.28%

-26.82%

-5.46%

Max Drawdown (10Y)

Largest decline over 10 years

-34.08%

-39.13%

+5.05%

Current Drawdown

Current decline from peak

-13.22%

-9.73%

-3.49%

Average Drawdown

Average peak-to-trough decline

-6.22%

-12.83%

+6.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

4.26%

+0.13%

Volatility

MTUM vs. QMOM - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 11.22% compared to Alpha Architect U.S. Quantitative Momentum ETF (QMOM) at 7.59%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than QMOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MTUMQMOMDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.22%

7.59%

+3.63%

Volatility (6M)

Calculated over the trailing 6-month period

23.33%

22.16%

+1.17%

Volatility (1Y)

Calculated over the trailing 1-year period

25.53%

25.74%

-0.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.89%

24.46%

-2.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.72%

26.72%

-5.00%

MTUM vs. QMOM - Expense Ratio Comparison

MTUM has a 0.15% expense ratio, which is lower than QMOM's 0.28% expense ratio.

Dividends

MTUM vs. QMOM - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.62%, more than QMOM's 0.48% yield.

PositionTTM20252024202320222021202020192018201720162015
MTUM
iShares MSCI USA Momentum Factor ETF		0.62%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		0.48%0.54%1.40%0.87%1.59%0.12%0.08%0.01%0.05%0.13%0.34%0.00%

Frequently Asked Questions

MTUM and QMOM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.22%) compared to QMOM (7.59%). In terms of maximum drawdown, MTUM dropped -34.08% vs QMOM's -39.13%.

On 10-year performance, MTUM leads with 15.71% vs 12.30% for QMOM. On fees, MTUM is cheaper at 0.15% per year. On volatility, QMOM has been the lower-risk option at 7.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MTUM has performed better with a 15.71% return vs 12.30%. 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 0.28% for QMOM.

MTUM has the higher dividend yield at 0.62%, compared with 0.48% for QMOM.

They also come from different issuers: iShares and Alpha Architect. Their fees differ too: 0.15% for MTUM and 0.28% for QMOM.

MTUM currently has the higher Sharpe Ratio (0.99 vs 0.63), 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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