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. Their 0.15 correlation means their historical movements had little consistent relationship. Both charge a 0.15% expense ratio.
Performance
MTUM vs. SPXB - Performance Comparison
Loading charts...
Returns By Period
MTUM
- 1D
- -1.08%
- 1M
- -3.65%
- 6M
- 25.72%
- YTD
- 24.09%
- 1Y
- 29.47%
- 3Y*
- 30.12%
- 5Y*
- 12.79%
- 10Y*
- 16.09%
- ALL TIME*
- 15.89%
SPXB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $622.03M | $632.13M | $558.17M |
MTUM vs. SPXB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 24.09% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -4.72% |
SPXB ProShares S&P 500 Bond ETF | 0.00% | 0.00% | -3.45% | 8.83% | -16.66% | -1.89% | 10.33% | 15.34% | 1.05% |
Correlation
The correlation between MTUM and SPXB is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 3, 2018 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MTUM vs. SPXB — Risk / Return Rank
MTUM
SPXB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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 | SPXB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.22 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | — | — |
| Martin ratioReturn relative to average drawdown | 6.51 | — | — |
Loading charts...
Drawdowns
MTUM vs. SPXB - Drawdown Comparison
Loading charts...
Drawdown Indicators
| MTUM | SPXB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.08% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -17.99% | — | — |
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 | -10.21% | — | — |
Average DrawdownAverage peak-to-trough decline | -6.22% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | — | — |
Volatility
MTUM vs. SPXB - Volatility Comparison
Loading charts...
Volatility by Period
| MTUM | SPXB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.01% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.78% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.96% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | — | — |
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.
Find the right allocation for MTUM and SPXB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer