MTUM vs. SPXB
MTUM (iShares MSCI USA Momentum Factor ETF) and SPXB (ProShares S&P 500 Bond ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while SPXB is a Corporate Bonds fund tracking the S&P 500 MarketAxess Investment Grade Corporate Bond Index. Both are passively managed. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
MTUM vs. SPXB - Performance Comparison
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Returns By Period
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%
SPXB
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MTUM vs. SPXB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 30.30% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -4.92% |
SPXB ProShares S&P 500 Bond ETF | 0.00% | 0.00% | -3.45% | 8.83% | -16.66% | -1.89% | 10.33% | 15.34% | 1.13% |
Correlation
The correlation between MTUM and SPXB is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 4, 2018 | 0.15 |
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Return for Risk
MTUM vs. SPXB — Risk / Return Rank
MTUM
SPXB
MTUM vs. SPXB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and ProShares S&P 500 Bond ETF (SPXB). 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 | SPXB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | — | — |
| Martin ratioReturn relative to average drawdown | 14.10 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MTUM | SPXB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | — | — |
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 | — | — |
Drawdowns
MTUM vs. SPXB - Drawdown Comparison
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Drawdown Indicators
| MTUM | SPXB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.08% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -20.99% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.08% | — | — |
Current DrawdownCurrent decline from peak | -1.10% | — | — |
Average DrawdownAverage peak-to-trough decline | -6.21% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | — | — |
Volatility
MTUM vs. SPXB - Volatility Comparison
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Volatility by Period
| MTUM | SPXB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.08% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | — | — |
MTUM vs. SPXB - Expense Ratio Comparison
Both MTUM and SPXB 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. SPXB - Dividend Comparison
MTUM's dividend yield for the trailing twelve months is around 0.60%, while SPXB has not paid dividends to shareholders.
| 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% |
SPXB ProShares S&P 500 Bond ETF | 0.00% | 0.00% | 1.22% | 4.04% | 3.14% | 2.00% | 2.64% | 3.48% | 2.52% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MTUM and SPXB have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MTUM and SPXB have the same expense ratio: 0.15% per year.
MTUM has the higher dividend yield at 0.60%, compared with 0.00% for SPXB.
MTUM is categorized as Momentum, while SPXB is Corporate Bonds. MTUM tracks MSCI USA Momentum SR Variant Index, while SPXB tracks S&P 500 MarketAxess Investment Grade Corporate Bond Index. They also come from different issuers: iShares and ProShares.
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