PRCS vs. MTUM

Last updated Jun 4, 2026

PRCS (Parnassus Core Select ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - PRCS is a Large Cap Blend Equities fund actively managed by Parnassus, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. PRCS is actively managed, while MTUM is passively managed. Over the past year, PRCS returned 12.71% vs 41.76% for MTUM. A 0.76 correlation means they provide meaningful diversification when combined. PRCS charges 0.58%/yr vs 0.15%/yr for MTUM.

Performance

PRCS vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parnassus Core Select ETF (PRCS) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRCS achieves a 2.88% return, which is significantly lower than MTUM's 31.75% return.

PRCS

• 1D: -0.46%
• 1M: 1.15%
• YTD: 2.88%
• 6M: 2.48%
• 1Y: 12.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.06%
• 1M: 15.90%
• YTD: 31.75%
• 6M: 32.38%
• 1Y: 41.76%
• 3Y*: 34.75%
• 5Y*: 15.21%
• 10Y*: 17.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRCS vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PRCS Parnassus Core Select ETF	2.88%	11.69%	-3.56%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	-1.96%

Correlation

The correlation between PRCS and MTUM is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.76

The correlation between PRCS and MTUM has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

Return for Risk

PRCS vs. MTUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRCS

PRCS Risk / Return Rank: 27
PRCS Sharpe Ratio Rank: 29
PRCS Sortino Ratio Rank: 28
PRCS Omega Ratio Rank: 28
PRCS Calmar Ratio Rank: 22
PRCS Martin Ratio Rank: 29

MTUM

MTUM Risk / Return Rank: 67
MTUM Sharpe Ratio Rank: 64
MTUM Sortino Ratio Rank: 62
MTUM Omega Ratio Rank: 63
MTUM Calmar Ratio Rank: 71
MTUM Martin Ratio Rank: 75

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.

PRCS vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parnassus Core Select ETF (PRCS) and iShares MSCI USA Momentum Factor ETF (MTUM). 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.

	PRCS	MTUM	Difference
Sharpe ratio Return per unit of total volatility	1.02	2.20	-1.18
Sortino ratio Return per unit of downside risk	1.48	2.98	-1.50
Omega ratio Gain probability vs. loss probability	1.18	1.39	-0.21
Calmar ratio Return relative to maximum drawdown	1.00	3.64	-2.64
Martin ratio Return relative to average drawdown	3.94	14.50	-10.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRCS vs. MTUM - Sharpe Ratio Comparison

The current PRCS Sharpe Ratio is 1.02, which is lower than the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of PRCS and MTUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRCS	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.20	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.85	-0.41

Drawdowns

PRCS vs. MTUM - Drawdown Comparison

The maximum PRCS drawdown since its inception was -18.20%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for PRCS and MTUM.

Drawdown Indicators

	PRCS	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-34.08%	+15.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.77%	-11.54%	-1.23%
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 Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-3.00%	-6.21%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	2.89%	+0.34%

Volatility

PRCS vs. MTUM - Volatility Comparison

The current volatility for Parnassus Core Select ETF (PRCS) is 2.40%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.68%. This indicates that PRCS experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRCS	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	7.68%	-5.28%
Volatility (6M) Calculated over the trailing 6-month period	9.78%	16.46%	-6.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	19.04%	-6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	20.60%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	21.03%	-4.17%

PRCS vs. MTUM - Expense Ratio Comparison

PRCS has a 0.58% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

PRCS vs. MTUM - Dividend Comparison

PRCS's dividend yield for the trailing twelve months is around 0.13%, less than MTUM's 0.60% yield.

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%
PRCS Parnassus Core Select ETF	0.13%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRCS and MTUM in my portfolio?

PRCS and MTUM have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRCS or MTUM?

MTUM has higher volatility (7.68%) compared to PRCS (2.40%). In terms of maximum drawdown, PRCS dropped -18.20% vs MTUM's -34.08%.

Which ETF is better, PRCS or MTUM?

On 1-year performance, MTUM leads with 41.76% vs 12.71% for PRCS. On fees, MTUM is cheaper at 0.15% per year. On volatility, PRCS has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRCS or MTUM?

Over the 1-year period, MTUM has performed better with a 41.76% return vs 12.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRCS or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.58% for PRCS.

Which ETF pays a higher dividend yield, PRCS or MTUM?

MTUM has the higher dividend yield at 0.60%, compared with 0.13% for PRCS.

What is the main difference between PRCS and MTUM?

PRCS is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Parnassus and iShares. Their fees differ too: 0.58% for PRCS and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 vs 1.02), 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.