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QMOM vs. MTUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QMOM vs. MTUM

Last updated Jun 20, 2026

QMOM (Alpha Architect U.S. Quantitative Momentum ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both Momentum funds. QMOM is actively managed, while MTUM is passively managed. Over the past 10 years, QMOM returned 13.52%/yr vs 17.65%/yr for MTUM. A 0.79 correlation means they provide meaningful diversification when combined. QMOM charges 0.28%/yr vs 0.15%/yr for MTUM.

Performance

QMOM vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect U.S. Quantitative Momentum ETF (QMOM) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QMOM achieves a 20.71% return, which is significantly lower than MTUM's 35.51% return. Over the past 10 years, QMOM has underperformed MTUM with an annualized return of 13.52%, while MTUM has yielded a comparatively higher 17.65% annualized return.

QMOM

1D
0.63%
1M
2.71%
YTD
20.71%
6M
20.17%
1Y
26.07%
3Y*
21.27%
5Y*
11.45%
10Y*
13.52%

MTUM

1D
3.12%
1M
13.12%
YTD
35.51%
6M
35.00%
1Y
48.05%
3Y*
34.51%
5Y*
16.78%
10Y*
17.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QMOM vs. MTUM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		20.71%2.36%30.43%9.50%-6.99%-4.06%61.94%28.39%-11.75%15.92%
MTUM
iShares MSCI USA Momentum Factor ETF		35.51%22.15%32.89%9.15%-18.27%13.36%29.86%27.25%-1.67%37.50%

Correlation

The correlation between QMOM and MTUM is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

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

0.83

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

0.84

Correlation (10Y)
Calculated over the trailing 10-year period

0.80

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2016

0.79

The correlation between QMOM and MTUM has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

QMOM vs. MTUM - Sectors Allocation Comparison

Sectors
QMOM
MTUM

Industrials

25.6%
15.0%

Technology

24.6%
50.2%

Energy

16.0%
10.5%

Basic Materials

15.9%
2.3%

Healthcare

8.0%
3.5%

Consumer Cyclical

6.0%
2.9%

Consumer Defensive

2.0%
3.7%

Communication Services

2.0%
5.1%

Utilities

2.0%
0.6%

Financial Services

1.9%
5.0%

Real Estate

-

1.3%

Industrials

QMOM
25.6%
MTUM
15.0%

Technology

QMOM
24.6%
MTUM
50.2%

Energy

QMOM
16.0%
MTUM
10.5%

Basic Materials

QMOM
15.9%
MTUM
2.3%

Healthcare

QMOM
8.0%
MTUM
3.5%

Consumer Cyclical

QMOM
6.0%
MTUM
2.9%

Consumer Defensive

QMOM
2.0%
MTUM
3.7%

Communication Services

QMOM
2.0%
MTUM
5.1%

Utilities

QMOM
2.0%
MTUM
0.6%

Financial Services

QMOM
1.9%
MTUM
5.0%

Real Estate

QMOM

-

MTUM
1.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Alpha Architect U.S. Quantitative Momentum ETF

iShares MSCI USA Momentum Factor ETF

Often compared with QMOM:
QMOM vs. SPMOQMOM vs. IWMO.LQMOM vs. VFMOQMOM vs. VOOQMOM vs. AVUVQMOM vs. XMMOQMOM vs. AMOM
Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. IDMO

Return for Risk

QMOM vs. MTUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QMOM
QMOM Risk / Return Rank: 3636
Overall Rank
QMOM Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
QMOM Sortino Ratio Rank: 3030
Sortino Ratio Rank
QMOM Omega Ratio Rank: 3030
Omega Ratio Rank
QMOM Calmar Ratio Rank: 4343
Calmar Ratio Rank
QMOM Martin Ratio Rank: 4646
Martin Ratio Rank
MTUM
MTUM Risk / Return Rank: 7777
Overall Rank
MTUM Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 6969
Sortino Ratio Rank
MTUM Omega Ratio Rank: 7373
Omega Ratio Rank
MTUM Calmar Ratio Rank: 8383
Calmar Ratio Rank
MTUM Martin Ratio Rank: 8383
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.

QMOM vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) 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.

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.

QMOMMTUMDifference
Sharpe ratioReturn per unit of total volatility
1.07
2.26

-1.19

Sortino ratioReturn per unit of downside risk
1.55
2.96

-1.40

Omega ratioGain probability vs. loss probability

1.20

1.41

-0.20

Calmar ratioReturn relative to maximum drawdown

2.07

4.18

-2.11

Martin ratioReturn relative to average drawdown

7.29

16.07

-8.78

QMOM vs. MTUM - Sharpe Ratio Comparison

The current QMOM Sharpe Ratio is 1.07, which is lower than the MTUM Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of QMOM 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.

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Drawdowns

QMOM vs. MTUM - Drawdown Comparison

The maximum QMOM drawdown since its inception was -39.13%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for QMOM and MTUM.

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Drawdown Indicators

QMOMMTUMDifference

Max Drawdown

Largest peak-to-trough decline

-39.13%

-34.08%

-5.05%

Max Drawdown (1Y)

Largest decline over 1 year

-12.65%

-11.54%

-1.11%

Max Drawdown (3Y)

Largest decline over 3 years

-26.46%

-20.99%

-5.47%

Max Drawdown (5Y)

Largest decline over 5 years

-26.82%

-32.28%

+5.46%

Max Drawdown (10Y)

Largest decline over 10 years

-39.13%

-34.08%

-5.05%

Current Drawdown

Current decline from peak

-3.52%

0.00%

-3.52%

Average Drawdown

Average peak-to-trough decline

-12.89%

-6.20%

-6.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.59%

3.00%

+0.59%

Volatility

QMOM vs. MTUM - Volatility Comparison

The current volatility for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) is 9.14%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.07%. This indicates that QMOM 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.

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Volatility by Period

QMOMMTUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.14%

11.07%

-1.93%

Volatility (6M)

Calculated over the trailing 6-month period

21.11%

18.99%

+2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

24.50%

21.36%

+3.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.39%

21.04%

+3.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.59%

21.26%

+5.33%

QMOM vs. MTUM - Expense Ratio Comparison

QMOM has a 0.28% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

QMOM vs. MTUM - Dividend Comparison

QMOM's dividend yield for the trailing twelve months is around 0.45%, less than MTUM's 0.55% yield.

PositionTTM20252024202320222021202020192018201720162015
MTUM
iShares MSCI USA Momentum Factor ETF		0.55%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		0.45%0.54%1.40%0.87%1.59%0.12%0.08%0.01%0.05%0.13%0.34%0.00%

Frequently Asked Questions

QMOM and MTUM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.07%) compared to QMOM (9.14%). In terms of maximum drawdown, QMOM dropped -39.13% vs MTUM's -34.08%.

On 10-year performance, MTUM leads with 17.65% vs 13.52% for QMOM. On fees, MTUM is cheaper at 0.15% per year. On volatility, QMOM has been the lower-risk option at 9.14%. 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 17.65% return vs 13.52%. 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 QMOM.

MTUM has the higher dividend yield at 0.55%, compared with 0.45% for QMOM.

They also come from different issuers: Alpha Architect and iShares. Their fees differ too: 0.28% for QMOM and 0.15% for MTUM.

MTUM currently has the higher Sharpe Ratio (2.26 vs 1.07), 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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