ROE vs. MTUM

Last updated Jun 23, 2026

ROE (Astoria US Equal Weight Quality Kings ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - ROE is a Large Cap Value Equities fund actively managed by Astoria, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. ROE is actively managed, while MTUM is passively managed. Over the past year, ROE returned 39.77% vs 50.96% for MTUM. Their correlation of 0.82 suggests significant overlap in exposure. ROE charges 0.49%/yr vs 0.15%/yr for MTUM.

Performance

ROE vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Astoria US Equal Weight Quality Kings ETF (ROE) 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, ROE achieves a 21.93% return, which is significantly lower than MTUM's 38.19% return.

ROE

• 1D: 0.78%
• 1M: 4.89%
• YTD: 21.93%
• 6M: 20.40%
• 1Y: 39.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: 1.98%
• 1M: 13.83%
• YTD: 38.19%
• 6M: 36.52%
• 1Y: 50.96%
• 3Y*: 35.93%
• 5Y*: 16.53%
• 10Y*: 18.03%

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

ROE vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ROE Astoria US Equal Weight Quality Kings ETF	21.93%	17.20%	18.34%	4.31%
MTUM iShares MSCI USA Momentum Factor ETF	38.19%	22.15%	32.89%	7.47%

Correlation

The correlation between ROE and MTUM is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023	0.82

The correlation between ROE and MTUM has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

ROE vs. MTUM - Sectors Allocation Comparison

Sectors	ROE	MTUM
Technology	40.3%	50.2%
Financial Services	10.6%	5.0%
Communication Services	10.4%	5.1%
Consumer Cyclical	8.9%	2.9%
Industrials	8.7%	15.0%
Healthcare	8.1%	3.5%
Consumer Defensive	4.3%	3.7%
Energy	3.3%	10.5%
Utilities	2.0%	0.6%
Real Estate	1.8%	1.3%
Basic Materials	1.7%	2.3%

Return for Risk

ROE vs. MTUM — Risk / Return Rank

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

ROE

ROE Risk / Return Rank: 86
ROE Sharpe Ratio Rank: 87
ROE Sortino Ratio Rank: 85
ROE Omega Ratio Rank: 83
ROE Calmar Ratio Rank: 86
ROE Martin Ratio Rank: 91

MTUM

MTUM Risk / Return Rank: 79
MTUM Sharpe Ratio Rank: 78
MTUM Sortino Ratio Rank: 72
MTUM Omega Ratio Rank: 75
MTUM Calmar Ratio Rank: 85
MTUM Martin Ratio Rank: 85

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.

ROE vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Astoria US Equal Weight Quality Kings ETF (ROE) 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.

	ROE	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.39	+0.34
Sortino ratio: Return per unit of downside risk	3.60	3.10	+0.50
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	4.62	4.44	+0.18
Martin ratio: Return relative to average drawdown	20.37	17.05	+3.33

ROE vs. MTUM - Sharpe Ratio Comparison

The current ROE Sharpe Ratio is 2.72, which is comparable to the MTUM Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ROE 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.

Drawdowns

ROE vs. MTUM - Drawdown Comparison

The maximum ROE drawdown since its inception was -19.10%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for ROE and MTUM.

Drawdown Indicators

	ROE	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-19.10%	-34.08%	+14.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.66%	-11.54%	+2.88%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.57%	-6.19%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	3.00%	-1.04%

Volatility

ROE vs. MTUM - Volatility Comparison

The current volatility for Astoria US Equal Weight Quality Kings ETF (ROE) is 5.91%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.02%. This indicates that ROE 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

	ROE	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	11.02%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	11.54%	18.88%	-7.34%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	21.48%	-6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	21.06%	-5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	21.28%	-5.33%

ROE vs. MTUM - Expense Ratio Comparison

ROE has a 0.49% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

ROE vs. MTUM - Dividend Comparison

ROE's dividend yield for the trailing twelve months is around 0.93%, more than MTUM's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.54%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
ROE Astoria US Equal Weight Quality Kings ETF	0.93%	0.97%	1.18%	0.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ROE and MTUM in my portfolio?

ROE and MTUM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ROE or MTUM?

MTUM has higher volatility (11.02%) compared to ROE (5.91%). In terms of maximum drawdown, ROE dropped -19.10% vs MTUM's -34.08%.

Which ETF is better, ROE or MTUM?

On 1-year performance, MTUM leads with 50.96% vs 39.77% for ROE. On fees, MTUM is cheaper at 0.15% per year. On volatility, ROE has been the lower-risk option at 5.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ROE or MTUM?

Over the 1-year period, MTUM has performed better with a 50.96% return vs 39.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ROE or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.49% for ROE.

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

ROE has the higher dividend yield at 0.93%, compared with 0.54% for MTUM.

What is the main difference between ROE and MTUM?

ROE is categorized as Large Cap Value Equities, while MTUM is Momentum. They also come from different issuers: Astoria and iShares. Their fees differ too: 0.49% for ROE and 0.15% for MTUM.

Which has better risk-adjusted returns?

ROE currently has the higher Sharpe Ratio (2.72 vs 2.39), 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.