RVER vs. MTUM

Last updated Jun 4, 2026

RVER (Trenchless Fund ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - RVER is a Large Cap Blend Equities fund actively managed by River1, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. RVER is actively managed, while MTUM is passively managed. Over the past year, RVER returned 24.60% vs 41.76% for MTUM. A 0.64 correlation means they provide meaningful diversification when combined. RVER charges 0.65%/yr vs 0.15%/yr for MTUM.

Performance

RVER vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trenchless Fund ETF (RVER) 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, RVER achieves a 18.77% return, which is significantly lower than MTUM's 31.75% return.

RVER

• 1D: -2.38%
• 1M: 22.28%
• YTD: 18.77%
• 6M: 15.82%
• 1Y: 24.60%
• 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)

RVER vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RVER Trenchless Fund ETF	18.77%	5.68%	17.75%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	10.85%

Correlation

The correlation between RVER and MTUM is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Apr 4, 2024	0.64

The correlation between RVER and MTUM has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

RVER vs. MTUM - Sectors Allocation Comparison

Sectors	RVER	MTUM
Technology	61.9%	44.4%
Energy	12.8%	3.5%
Communication Services	7.9%	7.4%
Industrials	7.3%	15.6%
Healthcare	5.6%	6.9%
Financial Services	5.2%	10.4%
Consumer Cyclical	4.4%	3.6%
Basic Materials	2.4%	1.7%
Consumer Defensive	-	3.3%
Real Estate	-	1.8%
Utilities	-	1.6%

Return for Risk

RVER vs. MTUM — Risk / Return Rank

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

RVER

RVER Risk / Return Rank: 28
RVER Sharpe Ratio Rank: 31
RVER Sortino Ratio Rank: 31
RVER Omega Ratio Rank: 29
RVER Calmar Ratio Rank: 25
RVER Martin Ratio Rank: 25

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.

RVER vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trenchless Fund ETF (RVER) 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.

	RVER	MTUM	Difference
Sharpe ratio Return per unit of total volatility	1.09	2.20	-1.11
Sortino ratio Return per unit of downside risk	1.64	2.98	-1.34
Omega ratio Gain probability vs. loss probability	1.20	1.39	-0.20
Calmar ratio Return relative to maximum drawdown	1.14	3.64	-2.49
Martin ratio Return relative to average drawdown	3.13	14.50	-11.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RVER vs. MTUM - Sharpe Ratio Comparison

The current RVER Sharpe Ratio is 1.09, which is lower than the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of RVER 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

	RVER	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	2.20	-1.11
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	0.75	0.85	-0.09

Drawdowns

RVER vs. MTUM - Drawdown Comparison

The maximum RVER drawdown since its inception was -26.21%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for RVER and MTUM.

Drawdown Indicators

	RVER	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-26.21%	-34.08%	+7.87%
Max Drawdown (1Y) Largest decline over 1 year	-21.61%	-11.54%	-10.07%
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	-2.38%	0.00%	-2.38%
Average Drawdown Average peak-to-trough decline	-5.95%	-6.21%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.88%	2.89%	+4.99%

Volatility

RVER vs. MTUM - Volatility Comparison

Trenchless Fund ETF (RVER) has a higher volatility of 8.42% compared to iShares MSCI USA Momentum Factor ETF (MTUM) at 7.68%. This indicates that RVER's price experiences larger fluctuations and is considered to be riskier than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RVER	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.42%	7.68%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	18.39%	16.46%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	22.60%	19.04%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.40%	20.60%	+5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.40%	21.03%	+5.37%

RVER vs. MTUM - Expense Ratio Comparison

RVER has a 0.65% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

RVER vs. MTUM - Dividend Comparison

RVER's dividend yield for the trailing twelve months is around 1.44%, more 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%
RVER Trenchless Fund ETF	1.44%	1.71%	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 RVER and MTUM in my portfolio?

RVER and MTUM have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RVER or MTUM?

RVER has higher volatility (8.42%) compared to MTUM (7.68%). In terms of maximum drawdown, RVER dropped -26.21% vs MTUM's -34.08%.

Which ETF is better, RVER or MTUM?

On 1-year performance, MTUM leads with 41.76% vs 24.60% for RVER. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 7.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RVER or MTUM?

Over the 1-year period, MTUM has performed better with a 41.76% return vs 24.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RVER or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.65% for RVER.

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

RVER has the higher dividend yield at 1.44%, compared with 0.60% for MTUM.

What is the main difference between RVER and MTUM?

RVER is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: River1 and iShares. Their fees differ too: 0.65% for RVER and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (2.20 vs 1.09), 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.