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MTUM vs. VLUE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MTUM vs. VLUE

Last updated Aug 2, 2026
Documentation

MTUM (iShares MSCI USA Momentum Factor ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both exchange-traded funds - MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index, while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, MTUM returned 15.71%/yr vs 14.59%/yr for VLUE. Their 0.69 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.15% expense ratio.

Performance

MTUM vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Momentum Factor ETF (MTUM) and iShares MSCI USA Value Factor ETF (VLUE). 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 19.93% return, which is significantly lower than VLUE's 40.90% return. Over the past 10 years, MTUM has outperformed VLUE with an annualized return of 15.71%, while VLUE has yielded a comparatively lower 14.59% annualized return.

MTUM

1D
0.27%
1M
-5.35%
6M
17.31%
YTD
19.93%
1Y
26.36%
3Y*
27.89%
5Y*
12.62%
10Y*
15.71%
ALL TIME*
15.62%

VLUE

1D
-1.13%
1M
-0.95%
6M
30.89%
YTD
40.90%
1Y
74.68%
3Y*
28.44%
5Y*
15.91%
10Y*
14.59%
ALL TIME*
13.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

MTUM

iShares MSCI USA Momentum Factor ETF
$558.09M$637.73M$538.11M

VLUE

iShares MSCI USA Value Factor ETF
$126.51M$186.31M$281.60M

MTUM vs. VLUE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MTUM
iShares MSCI USA Momentum Factor ETF		19.93%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%37.50%
VLUE
iShares MSCI USA Value Factor ETF		40.90%32.67%7.25%14.26%-14.17%28.93%-0.23%27.20%-11.13%21.95%

Correlation

The correlation between MTUM and VLUE is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.76

Correlation (3Y)
Balances recent behavior with more history.

0.68

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.74

Correlation (10Y)
Provides a long-term view across more market conditions.

0.69

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2013

0.69

The correlation between MTUM and VLUE has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

MTUM vs. VLUE - Sectors Allocation Comparison

Sectors
MTUM
VLUE

Technology

48.3%
43.1%

Industrials

12.1%
7.9%

Energy

11.5%
2.8%

Financial Services

5.2%
10.6%

Communication Services

4.4%
8.7%

Healthcare

4.2%
7.8%

Utilities

3.7%
2.0%

Consumer Defensive

3.7%
4.2%

Consumer Cyclical

3.0%
9.9%

Basic Materials

2.2%
1.2%

Real Estate

1.5%
1.8%

Technology

MTUM
48.3%
VLUE
43.1%

Industrials

MTUM
12.1%
VLUE
7.9%

Energy

MTUM
11.5%
VLUE
2.8%

Financial Services

MTUM
5.2%
VLUE
10.6%

Communication Services

MTUM
4.4%
VLUE
8.7%

Healthcare

MTUM
4.2%
VLUE
7.8%

Utilities

MTUM
3.7%
VLUE
2.0%

Consumer Defensive

MTUM
3.7%
VLUE
4.2%

Consumer Cyclical

MTUM
3.0%
VLUE
9.9%

Basic Materials

MTUM
2.2%
VLUE
1.2%

Real Estate

MTUM
1.5%
VLUE
1.8%

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

iShares MSCI USA Value Factor ETF

Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. QMOM
Often compared with VLUE:
VLUE vs. AVLVVLUE vs. VLUVLUE vs. VOOVLUE vs. VTVVLUE vs. IUSVVLUE vs. QVALVLUE vs. SCHV

Return for Risk

MTUM vs. VLUE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MTUM
MTUM Risk / Return Rank: 4242
Overall Rank
MTUM Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 3939
Sortino Ratio Rank
MTUM Omega Ratio Rank: 4141
Omega Ratio Rank
MTUM Calmar Ratio Rank: 4040
Calmar Ratio Rank
MTUM Martin Ratio Rank: 4949
Martin Ratio Rank
VLUE
VLUE Risk / Return Rank: 9797
Overall Rank
VLUE Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
VLUE Sortino Ratio Rank: 9696
Sortino Ratio Rank
VLUE Omega Ratio Rank: 9696
Omega Ratio Rank
VLUE Calmar Ratio Rank: 9797
Calmar Ratio Rank
VLUE Martin Ratio Rank: 9797
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MTUM vs. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor ETF (MTUM) and iShares MSCI USA Value Factor ETF (VLUE). 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.

MTUMVLUEDifference
Sharpe ratioReturn per unit of total volatility
0.99
3.57

-2.58

Sortino ratioReturn per unit of downside risk
1.45
4.57

-3.13

Omega ratioGain probability vs. loss probability

1.19

1.60

-0.41

Calmar ratioReturn relative to maximum drawdown

1.40

8.06

-6.67

Martin ratioReturn relative to average drawdown

5.72

27.03

-21.31

MTUM vs. VLUE - Sharpe Ratio Comparison

The current MTUM Sharpe Ratio is 0.99, which is lower than the VLUE Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of MTUM and VLUE, 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. VLUE - Drawdown Comparison

The maximum MTUM drawdown since its inception was -34.08%, smaller than the maximum VLUE drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for MTUM and VLUE.

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Drawdown Indicators

MTUMVLUEDifference

Max Drawdown

Largest peak-to-trough decline

-34.08%

-39.47%

+5.39%

Max Drawdown (1Y)

Largest decline over 1 year

-17.99%

-9.04%

-8.95%

Max Drawdown (3Y)

Largest decline over 3 years

-20.99%

-17.89%

-3.10%

Max Drawdown (5Y)

Largest decline over 5 years

-32.28%

-27.12%

-5.16%

Max Drawdown (10Y)

Largest decline over 10 years

-34.08%

-39.47%

+5.39%

Current Drawdown

Current decline from peak

-13.22%

-6.57%

-6.65%

Average Drawdown

Average peak-to-trough decline

-6.22%

-5.99%

-0.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

2.69%

+1.70%

Volatility

MTUM vs. VLUE - Volatility Comparison

iShares MSCI USA Momentum Factor ETF (MTUM) has a higher volatility of 11.22% compared to iShares MSCI USA Value Factor ETF (VLUE) at 6.56%. This indicates that MTUM's price experiences larger fluctuations and is considered to be riskier than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MTUMVLUEDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.22%

6.56%

+4.66%

Volatility (6M)

Calculated over the trailing 6-month period

23.33%

17.51%

+5.82%

Volatility (1Y)

Calculated over the trailing 1-year period

25.53%

20.49%

+5.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.89%

18.37%

+3.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.72%

20.05%

+1.67%

MTUM vs. VLUE - Expense Ratio Comparison

Both MTUM and VLUE 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. VLUE - Dividend Comparison

MTUM's dividend yield for the trailing twelve months is around 0.62%, less than VLUE's 1.47% yield.

PositionTTM20252024202320222021202020192018201720162015
MTUM
iShares MSCI USA Momentum Factor ETF		0.62%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%
VLUE
iShares MSCI USA Value Factor ETF		1.47%2.11%2.73%2.66%3.18%2.22%2.42%2.61%2.70%2.14%2.07%2.39%

Frequently Asked Questions

MTUM and VLUE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.22%) compared to VLUE (6.56%). In terms of maximum drawdown, MTUM dropped -34.08% vs VLUE's -39.47%.

On 10-year performance, MTUM leads with 15.71% vs 14.59% for VLUE. Both ETFs have the same 0.15% expense ratio. On volatility, VLUE has been the lower-risk option at 6.56%. 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 15.71% return vs 14.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

VLUE has the higher dividend yield at 1.47%, compared with 0.62% for MTUM.

MTUM is categorized as Momentum, while VLUE is Large Cap Value Equities. MTUM tracks MSCI USA Momentum SR Variant Index, while VLUE tracks MSCI USA Enhanced Value Index.

VLUE currently has the higher Sharpe Ratio (3.57 vs 0.99), 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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