RND vs. MTUM

Last updated Jun 5, 2026

RND (First Trust Bloomberg R&D Leaders ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - RND is a Large Cap Blend Equities fund tracking the Bloomberg R&D Leaders Select Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past year, RND returned 26.66% vs 40.55% for MTUM. Their correlation of 0.82 suggests significant overlap in exposure. RND charges 0.60%/yr vs 0.15%/yr for MTUM.

Performance

RND vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg R&D Leaders ETF (RND) 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, RND achieves a 6.88% return, which is significantly lower than MTUM's 30.30% return.

RND

• 1D: 0.24%
• 1M: 5.12%
• YTD: 6.88%
• 6M: 6.07%
• 1Y: 26.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -1.10%
• 1M: 11.94%
• YTD: 30.30%
• 6M: 29.99%
• 1Y: 40.55%
• 3Y*: 34.34%
• 5Y*: 14.96%
• 10Y*: 17.19%

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

RND vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RND First Trust Bloomberg R&D Leaders ETF	6.88%	22.38%	26.88%
MTUM iShares MSCI USA Momentum Factor ETF	30.30%	22.15%	18.83%

Correlation

The correlation between RND and MTUM is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.82

The correlation between RND and MTUM has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

RND vs. MTUM - Sectors Allocation Comparison

Sectors	RND	MTUM
Technology	44.1%	44.4%
Consumer Cyclical	16.0%	3.6%
Communication Services	14.2%	7.4%
Healthcare	14.0%	6.9%
Industrials	8.5%	15.6%
Consumer Defensive	1.2%	3.3%
Financial Services	1.1%	10.4%
Basic Materials	0.9%	1.7%
Energy	-	3.5%
Real Estate	-	1.8%
Utilities	-	1.6%

Return for Risk

RND vs. MTUM — Risk / Return Rank

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

RND

RND Risk / Return Rank: 44
RND Sharpe Ratio Rank: 50
RND Sortino Ratio Rank: 48
RND Omega Ratio Rank: 48
RND Calmar Ratio Rank: 36
RND Martin Ratio Rank: 40

MTUM

MTUM Risk / Return Rank: 68
MTUM Sharpe Ratio Rank: 65
MTUM Sortino Ratio Rank: 64
MTUM Omega Ratio Rank: 64
MTUM Calmar Ratio Rank: 72
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.

RND vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg R&D Leaders ETF (RND) 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.

	RND	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.14	-0.43
Sortino ratio: Return per unit of downside risk	2.34	2.90	-0.55
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	1.72	3.53	-1.81
Martin ratio: Return relative to average drawdown	6.23	14.10	-7.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RND vs. MTUM - Sharpe Ratio Comparison

The current RND Sharpe Ratio is 1.71, which is comparable to the MTUM Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of RND 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

	RND	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.14	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	0.84	+0.46

Drawdowns

RND vs. MTUM - Drawdown Comparison

The maximum RND drawdown since its inception was -23.52%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for RND and MTUM.

Drawdown Indicators

	RND	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-34.08%	+10.56%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-11.54%	-4.02%
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	-0.45%	-1.10%	+0.65%
Average Drawdown Average peak-to-trough decline	-3.71%	-6.21%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	2.89%	+1.40%

Volatility

RND vs. MTUM - Volatility Comparison

The current volatility for First Trust Bloomberg R&D Leaders ETF (RND) is 3.74%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 7.67%. This indicates that RND 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

	RND	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	7.67%	-3.93%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	16.51%	-4.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.69%	19.08%	-3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.13%	20.60%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.13%	21.03%	+0.10%

RND vs. MTUM - Expense Ratio Comparison

RND has a 0.60% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

RND vs. MTUM - Dividend Comparison

RND has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.60%.

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%
RND First Trust Bloomberg R&D Leaders ETF	0.00%	0.00%	0.04%	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 RND and MTUM in my portfolio?

RND and MTUM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RND or MTUM?

MTUM has higher volatility (7.67%) compared to RND (3.74%). In terms of maximum drawdown, RND dropped -23.52% vs MTUM's -34.08%.

Which ETF is better, RND or MTUM?

On 1-year performance, MTUM leads with 40.55% vs 26.66% for RND. On fees, MTUM is cheaper at 0.15% per year. On volatility, RND has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RND or MTUM?

Over the 1-year period, MTUM has performed better with a 40.55% return vs 26.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RND or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.60% for RND.

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

MTUM has the higher dividend yield at 0.60%, compared with 0.00% for RND.

What is the main difference between RND and MTUM?

RND is categorized as Large Cap Blend Equities, while MTUM is Momentum. RND tracks Bloomberg R&D Leaders Select Index, while MTUM tracks MSCI USA Momentum SR Variant Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for RND and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.14 vs 1.71), 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.