MTUM vs. SEIM

Last updated Jun 5, 2026

MTUM (iShares MSCI USA Momentum Factor ETF) and SEIM (SEI Enhanced US Large Cap Momentum Factor ETF) are both Momentum funds. MTUM is passively managed, while SEIM is actively managed. Over the past 3 years, MTUM returned 34.34%/yr vs 29.67%/yr for SEIM. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

MTUM vs. SEIM - Performance Comparison

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

Returns By Period

In the year-to-date period, MTUM achieves a 30.30% return, which is significantly higher than SEIM's 18.74% return.

MTUM

• 1D: -1.10%
• 1M: 11.94%
• YTD: 30.30%
• 6M: 29.99%
• 1Y: 40.55%
• 3Y*: 34.34%
• 5Y*: 14.96%
• 10Y*: 17.19%

SEIM

• 1D: -0.15%
• 1M: 6.24%
• YTD: 18.74%
• 6M: 19.62%
• 1Y: 36.27%
• 3Y*: 29.67%
• 5Y*: —
• 10Y*: —

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

MTUM vs. SEIM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MTUM iShares MSCI USA Momentum Factor ETF	30.30%	22.15%	32.89%	9.15%	8.03%
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	18.74%	20.20%	39.12%	16.25%	-2.39%

Correlation

The correlation between MTUM and SEIM is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.90

The correlation between MTUM and SEIM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

MTUM vs. SEIM - Sectors Allocation Comparison

Sectors	MTUM	SEIM
Technology	44.4%	29.5%
Industrials	15.6%	6.8%
Financial Services	10.4%	8.1%
Communication Services	7.4%	4.4%
Healthcare	6.9%	9.5%
Consumer Cyclical	3.6%	7.2%
Energy	3.5%	11.8%
Consumer Defensive	3.3%	7.9%
Real Estate	1.8%	7.2%
Basic Materials	1.7%	4.7%
Utilities	1.6%	2.4%

Return for Risk

MTUM vs. SEIM — Risk / Return Rank

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

MTUM

MTUM Risk / Return Rank: 68
MTUM Sharpe Ratio Rank: 65
MTUM Sortino Ratio Rank: 64
MTUM Omega Ratio Rank: 64
MTUM Calmar Ratio Rank: 72
MTUM Martin Ratio Rank: 75

SEIM

SEIM Risk / Return Rank: 71
SEIM Sharpe Ratio Rank: 69
SEIM Sortino Ratio Rank: 67
SEIM Omega Ratio Rank: 66
SEIM Calmar Ratio Rank: 73
SEIM Martin Ratio Rank: 81

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. SEIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and SEI Enhanced US Large Cap Momentum Factor ETF (SEIM). 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.

	MTUM	SEIM	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.24	-0.10
Sortino ratio: Return per unit of downside risk	2.90	3.04	-0.14
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	3.53	3.62	-0.09
Martin ratio: Return relative to average drawdown	14.10	15.90	-1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTUM vs. SEIM - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 2.14, which is comparable to the SEIM Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of MTUM and SEIM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MTUM	SEIM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.24	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	1.19	-0.34

Drawdowns

MTUM vs. SEIM - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, which is greater than SEIM's maximum drawdown of -22.17%. Use the drawdown chart below to compare losses from any high point for MTUM and SEIM.

Drawdown Indicators

	MTUM	SEIM	Difference
Max Drawdown Largest peak-to-trough decline	-34.08%	-22.17%	-11.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-10.07%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-20.99%	-22.17%	+1.18%
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	-1.10%	-0.47%	-0.63%
Average Drawdown Average peak-to-trough decline	-6.21%	-3.98%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	2.29%	+0.60%

Volatility

MTUM vs. SEIM - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 7.67% compared to SEI Enhanced US Large Cap Momentum Factor ETF (SEIM) at 4.63%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than SEIM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTUM	SEIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.67%	4.63%	+3.04%
Volatility (6M) Calculated over the trailing 6-month period	16.51%	13.33%	+3.18%
Volatility (1Y) Calculated over the trailing 1-year period	19.08%	16.28%	+2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	18.85%	+1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	18.85%	+2.18%

MTUM vs. SEIM - Expense Ratio Comparison

Both MTUM and SEIM 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. SEIM - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.60%, more than SEIM's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.60%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	0.52%	0.56%	0.48%	0.89%	1.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MTUM and SEIM in my portfolio?

With a correlation of 0.91, MTUM and SEIM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MTUM or SEIM?

MTUM has higher volatility (7.67%) compared to SEIM (4.63%). In terms of maximum drawdown, MTUM dropped -34.08% vs SEIM's -22.17%.

Which ETF is better, MTUM or SEIM?

On 3-year performance, MTUM leads with 34.34% vs 29.67% for SEIM. Both ETFs have the same 0.15% expense ratio. On volatility, SEIM has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MTUM or SEIM?

Over the 3-year period, MTUM has performed better with a 34.34% return vs 29.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MTUM or SEIM?

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

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

MTUM has the higher dividend yield at 0.60%, compared with 0.52% for SEIM.

What is the main difference between MTUM and SEIM?

They also come from different issuers: iShares and SEI.

Which has better risk-adjusted returns?

SEIM currently has the higher Sharpe Ratio (2.24 vs 2.14), 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.