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MTUM vs. USMF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MTUM vs. USMF

Last updated Jun 16, 2026

MTUM (iShares MSCI USA Momentum Factor ETF) and USMF (WisdomTree US Multifactor Fund) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while USMF is a Mid Cap Blend Equities fund tracking the WisdomTree US Multifactor Index. Both are passively managed. Over the past 5 years, MTUM returned 15.90%/yr vs 8.31%/yr for USMF. A 0.76 correlation means they provide meaningful diversification when combined. MTUM charges 0.15%/yr vs 0.28%/yr for USMF.

Performance

MTUM vs. USMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Momentum Factor ETF (MTUM) and WisdomTree US Multifactor Fund (USMF). 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 33.55% return, which is significantly higher than USMF's 6.65% return.

MTUM

1D
2.96%
1M
11.98%
YTD
33.55%
6M
34.98%
1Y
46.22%
3Y*
33.86%
5Y*
15.90%
10Y*
17.54%

USMF

1D
1.25%
1M
5.30%
YTD
6.65%
6M
6.40%
1Y
9.68%
3Y*
13.99%
5Y*
8.31%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MTUM vs. USMF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MTUM
iShares MSCI USA Momentum Factor ETF		33.55%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%12.54%
USMF
WisdomTree US Multifactor Fund		6.65%4.60%19.65%13.47%-8.82%21.26%12.01%24.06%-4.72%11.27%

Correlation

The correlation between MTUM and USMF is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.65

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2017

0.76

Over the past year, the correlation between MTUM and USMF has dropped to 0.54 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

MTUM vs. USMF - Sectors Allocation Comparison

Sectors
MTUM
USMF

Technology

50.2%
33.2%

Industrials

15.0%
8.2%

Energy

10.5%
4.8%

Communication Services

5.1%
9.8%

Financial Services

5.0%
10.7%

Consumer Defensive

3.7%
4.3%

Healthcare

3.5%
9.0%

Consumer Cyclical

2.9%
10.5%

Basic Materials

2.3%
0.9%

Real Estate

1.3%
2.0%

Utilities

0.6%
1.9%

Technology

MTUM
50.2%
USMF
33.2%

Industrials

MTUM
15.0%
USMF
8.2%

Energy

MTUM
10.5%
USMF
4.8%

Communication Services

MTUM
5.1%
USMF
9.8%

Financial Services

MTUM
5.0%
USMF
10.7%

Consumer Defensive

MTUM
3.7%
USMF
4.3%

Healthcare

MTUM
3.5%
USMF
9.0%

Consumer Cyclical

MTUM
2.9%
USMF
10.5%

Basic Materials

MTUM
2.3%
USMF
0.9%

Real Estate

MTUM
1.3%
USMF
2.0%

Utilities

MTUM
0.6%
USMF
1.9%

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

WisdomTree US Multifactor Fund

Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. QMOM
Often compared with USMF:
USMF vs. DYNFUSMF vs. VFMFUSMF vs. SCHMUSMF vs. SFLRUSMF vs. SPMOUSMF vs. SPYUSMF vs. VO

Return for Risk

MTUM vs. USMF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MTUM
MTUM Risk / Return Rank: 7979
Overall Rank
MTUM Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 7272
Sortino Ratio Rank
MTUM Omega Ratio Rank: 7676
Omega Ratio Rank
MTUM Calmar Ratio Rank: 8383
Calmar Ratio Rank
MTUM Martin Ratio Rank: 8484
Martin Ratio Rank
USMF
USMF Risk / Return Rank: 2828
Overall Rank
USMF Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
USMF Sortino Ratio Rank: 2525
Sortino Ratio Rank
USMF Omega Ratio Rank: 2424
Omega Ratio Rank
USMF Calmar Ratio Rank: 3232
Calmar Ratio Rank
USMF Martin Ratio Rank: 3232
Martin Ratio Rank
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. USMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and WisdomTree US Multifactor Fund (USMF). 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.

MTUMUSMFDifference
Sharpe ratioReturn per unit of total volatility
2.21
0.86

+1.35

Sortino ratioReturn per unit of downside risk
2.90
1.29

+1.61

Omega ratioGain probability vs. loss probability

1.40

1.15

+0.25

Calmar ratioReturn relative to maximum drawdown

4.02

1.50

+2.52

Martin ratioReturn relative to average drawdown

15.48

4.47

+11.01

MTUM vs. USMF - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 2.21, which is higher than the USMF Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of MTUM and USMF, 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. USMF - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum USMF drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for MTUM and USMF.

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Drawdown Indicators

MTUMUSMFDifference

Max Drawdown

Largest peak-to-trough decline

-34.08%

-36.24%

+2.16%

Max Drawdown (1Y)

Largest decline over 1 year

-11.54%

-6.47%

-5.07%

Max Drawdown (3Y)

Largest decline over 3 years

-20.99%

-15.39%

-5.60%

Max Drawdown (5Y)

Largest decline over 5 years

-32.28%

-18.10%

-14.18%

Max Drawdown (10Y)

Largest decline over 10 years

-34.08%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.20%

-4.15%

-2.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

2.17%

+0.82%

Volatility

MTUM vs. USMF - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 11.20% compared to WisdomTree US Multifactor Fund (USMF) at 4.10%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than USMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MTUMUSMFDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.20%

4.10%

+7.10%

Volatility (6M)

Calculated over the trailing 6-month period

18.83%

8.13%

+10.70%

Volatility (1Y)

Calculated over the trailing 1-year period

21.08%

11.31%

+9.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.99%

14.34%

+6.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.23%

16.97%

+4.26%

MTUM vs. USMF - Expense Ratio Comparison

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

Dividends

MTUM vs. USMF - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.70%, less than USMF's 1.29% yield.

PositionTTM20252024202320222021202020192018201720162015
MTUM
iShares MSCI USA Momentum Factor ETF		0.70%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%
USMF
WisdomTree US Multifactor Fund		1.29%1.37%1.22%1.33%1.74%1.42%1.34%1.38%1.45%0.67%0.00%0.00%

Frequently Asked Questions

MTUM and USMF have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.20%) compared to USMF (4.10%). In terms of maximum drawdown, MTUM dropped -34.08% vs USMF's -36.24%.

On 5-year performance, MTUM leads with 15.90% vs 8.31% for USMF. On fees, MTUM is cheaper at 0.15% per year. On volatility, USMF has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MTUM has performed better with a 15.90% return vs 8.31%. 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 USMF.

USMF has the higher dividend yield at 1.29%, compared with 0.70% for MTUM.

MTUM is categorized as Momentum, while USMF is Mid Cap Blend Equities. MTUM tracks MSCI USA Momentum SR Variant Index, while USMF tracks WisdomTree US Multifactor Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.15% for MTUM and 0.28% for USMF.

MTUM currently has the higher Sharpe Ratio (2.21 vs 0.86), 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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