SOXX vs. MTUM

Last updated Jun 14, 2026

SOXX (iShares Semiconductor ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, SOXX returned 35.55%/yr vs 17.15%/yr for MTUM. A 0.73 correlation means they provide meaningful diversification when combined. SOXX charges 0.34%/yr vs 0.15%/yr for MTUM.

Performance

SOXX vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Semiconductor ETF (SOXX) 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, SOXX achieves a 98.11% return, which is significantly higher than MTUM's 29.72% return. Over the past 10 years, SOXX has outperformed MTUM with an annualized return of 35.55%, while MTUM has yielded a comparatively lower 17.15% annualized return.

SOXX

• 1D: 1.59%
• 1M: 17.25%
• YTD: 98.11%
• 6M: 99.51%
• 1Y: 171.57%
• 3Y*: 53.00%
• 5Y*: 33.69%
• 10Y*: 35.55%

MTUM

• 1D: 1.69%
• 1M: 8.76%
• YTD: 29.72%
• 6M: 30.51%
• 1Y: 42.02%
• 3Y*: 33.16%
• 5Y*: 14.96%
• 10Y*: 17.15%

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

SOXX vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXX iShares Semiconductor ETF	98.11%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%
MTUM iShares MSCI USA Momentum Factor ETF	29.72%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between SOXX 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 (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.73

The correlation between SOXX and MTUM has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

SOXX vs. MTUM - Sectors Allocation Comparison

Sectors	SOXX	MTUM
Technology	100.0%	50.2%
Basic Materials	-	2.3%
Communication Services	-	5.1%
Consumer Cyclical	-	2.9%
Consumer Defensive	-	3.7%
Energy	-	10.5%
Financial Services	-	5.0%
Healthcare	-	3.5%
Industrials	-	15.0%
Real Estate	-	1.3%
Utilities	-	0.6%

Return for Risk

SOXX vs. MTUM — Risk / Return Rank

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

SOXX

SOXX Risk / Return Rank: 96
SOXX Sharpe Ratio Rank: 97
SOXX Sortino Ratio Rank: 94
SOXX Omega Ratio Rank: 94
SOXX Calmar Ratio Rank: 97
SOXX Martin Ratio Rank: 97

MTUM

MTUM Risk / Return Rank: 73
MTUM Sharpe Ratio Rank: 70
MTUM Sortino Ratio Rank: 66
MTUM Omega Ratio Rank: 70
MTUM Calmar Ratio Rank: 78
MTUM Martin Ratio Rank: 81

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.

SOXX vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor ETF (SOXX) 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.

	SOXX	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	4.43	1.96	+2.47
Sortino ratio: Return per unit of downside risk	4.37	2.62	+1.76
Omega ratio: Gain probability vs. loss probability	1.62	1.36	+0.26
Calmar ratio: Return relative to maximum drawdown	10.50	3.55	+6.95
Martin ratio: Return relative to average drawdown	38.20	13.66	+24.54

SOXX vs. MTUM - Sharpe Ratio Comparison

The current SOXX Sharpe Ratio is 4.43, which is higher than the MTUM Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of SOXX 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

SOXX vs. MTUM - Drawdown Comparison

The maximum SOXX drawdown since its inception was -70.21%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for SOXX and MTUM.

Drawdown Indicators

	SOXX	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-70.21%	-34.08%	-36.13%
Max Drawdown (1Y) Largest decline over 1 year	-15.77%	-11.54%	-4.23%
Max Drawdown (3Y) Largest decline over 3 years	-41.36%	-20.99%	-20.37%
Max Drawdown (5Y) Largest decline over 5 years	-45.75%	-32.28%	-13.47%
Max Drawdown (10Y) Largest decline over 10 years	-45.75%	-34.08%	-11.67%
Current Drawdown Current decline from peak	-3.16%	-1.55%	-1.61%
Average Drawdown Average peak-to-trough decline	-19.95%	-6.20%	-13.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	2.99%	+1.34%

Volatility

SOXX vs. MTUM - Volatility Comparison

iShares Semiconductor ETF (SOXX) has a higher volatility of 19.42% compared to iShares MSCI USA Momentum Factor ETF (MTUM) at 10.89%. This indicates that SOXX'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

	SOXX	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.42%	10.89%	+8.53%
Volatility (6M) Calculated over the trailing 6-month period	31.46%	18.63%	+12.83%
Volatility (1Y) Calculated over the trailing 1-year period	37.35%	20.87%	+16.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.73%	20.94%	+15.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.77%	21.20%	+12.57%

SOXX vs. MTUM - Expense Ratio Comparison

SOXX has a 0.34% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

SOXX vs. MTUM - Dividend Comparison

SOXX's dividend yield for the trailing twelve months is around 0.28%, less than MTUM's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.61%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
SOXX iShares Semiconductor ETF	0.28%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both SOXX and MTUM in my portfolio?

SOXX 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, SOXX or MTUM?

SOXX has higher volatility (19.42%) compared to MTUM (10.89%). In terms of maximum drawdown, SOXX dropped -70.21% vs MTUM's -34.08%.

Which ETF is better, SOXX or MTUM?

On 10-year performance, SOXX leads with 35.55% vs 17.15% for MTUM. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 10.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXX or MTUM?

Over the 10-year period, SOXX has performed better with a 35.55% return vs 17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXX or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.34% for SOXX.

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

MTUM has the higher dividend yield at 0.61%, compared with 0.28% for SOXX.

What is the main difference between SOXX and MTUM?

SOXX is categorized as Semiconductors, while MTUM is Momentum. SOXX tracks NYSE Semiconductor Index, while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.34% for SOXX and 0.15% for MTUM.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (4.43 vs 1.96), 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.