MTUM vs. TIP
MTUM (iShares MSCI USA Momentum Factor ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, MTUM returned 17.15%/yr vs 2.53%/yr for TIP. At a 0.01 correlation, their price movements are largely independent. MTUM charges 0.15%/yr vs 0.18%/yr for TIP.
Performance
MTUM vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, MTUM achieves a 29.72% return, which is significantly higher than TIP's 1.40% return. Over the past 10 years, MTUM has outperformed TIP with an annualized return of 17.15%, while TIP has yielded a comparatively lower 2.53% annualized return.
MTUM
- 1D
- 1.69%
- 1M
- 5.58%
- YTD
- 29.72%
- 6M
- 30.51%
- 1Y
- 42.02%
- 3Y*
- 33.16%
- 5Y*
- 14.96%
- 10Y*
- 17.15%
TIP
- 1D
- 0.01%
- 1M
- -0.11%
- YTD
- 1.40%
- 6M
- 1.42%
- 1Y
- 4.76%
- 3Y*
- 4.00%
- 5Y*
- 0.91%
- 10Y*
- 2.53%
MTUM vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 29.72% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
TIP iShares TIPS Bond ETF | 1.40% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between MTUM and TIP is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.01 |
The correlation between MTUM and TIP shifts across timeframes, from 0.01 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MTUM vs. TIP — Risk / Return Rank
MTUM
TIP
MTUM vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.34 | +1.21 |
| Martin ratioReturn relative to average drawdown | 13.66 | 7.00 | +6.66 |
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Drawdowns
MTUM vs. TIP - Drawdown Comparison
The maximum MTUM drawdown since its inception was -34.08%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for MTUM and TIP.
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Drawdown Indicators
| MTUM | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.08% | -14.57% | -19.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -1.98% | -9.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.99% | -4.54% | -16.45% |
Max Drawdown (5Y)Largest decline over 5 years | -32.28% | -14.51% | -17.77% |
Max Drawdown (10Y)Largest decline over 10 years | -34.08% | -14.51% | -19.57% |
Current DrawdownCurrent decline from peak | -1.55% | -0.46% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -3.43% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 0.66% | +2.33% |
Volatility
MTUM vs. TIP - Volatility Comparison
iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 10.89% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTUM | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.89% | 1.03% | +9.86% |
Volatility (6M)Calculated over the trailing 6-month period | 18.63% | 2.32% | +16.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 3.39% | +17.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.94% | 6.21% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 5.74% | +15.46% |
MTUM vs. TIP - Expense Ratio Comparison
MTUM has a 0.15% expense ratio, which is lower than TIP's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MTUM vs. TIP - Dividend Comparison
MTUM's dividend yield for the trailing twelve months is around 0.61%, less than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 0.61% | 0.91% | 0.75% | 1.35% | 1.80% | 0.55% | 0.83% | 1.48% | 1.27% | 1.02% | 1.43% | 1.12% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
MTUM and TIP have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (10.89%) compared to TIP (1.03%). In terms of maximum drawdown, MTUM dropped -34.08% vs TIP's -14.57%.
On 10-year performance, MTUM leads with 17.15% vs 2.53% for TIP. On fees, MTUM is cheaper at 0.15% per year. On volatility, TIP has been the lower-risk option at 1.03%. 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 17.15% return vs 2.53%. 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 0.18% for TIP.
TIP has the higher dividend yield at 3.76%, compared with 0.61% for MTUM.
MTUM is categorized as Momentum, while TIP is Inflation-Protected Bonds. MTUM tracks MSCI USA Momentum SR Variant Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. Their fees differ too: 0.15% for MTUM and 0.18% for TIP.
MTUM currently has the higher Sharpe Ratio (1.96 vs 1.37), 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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