SPQ vs. MTUM

Last updated Jun 4, 2026

SPQ (Simplify US Equity Plus QIS ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - SPQ is a Large Cap Blend Equities fund actively managed by Simplify, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. SPQ is actively managed, while MTUM is passively managed. A 0.57 correlation means they provide meaningful diversification when combined. SPQ charges 1.00%/yr vs 0.15%/yr for MTUM.

Performance

SPQ vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity Plus QIS ETF (SPQ) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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)

SPQ vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPQ Simplify US Equity Plus QIS ETF	0.00%	-4.67%	20.38%	5.51%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	4.92%

Correlation

The correlation between SPQ and MTUM is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 15, 2023	0.57

SPQ vs. MTUM - Sectors Allocation Comparison

Sectors	SPQ	MTUM
Technology	31.7%	44.4%
Financial Services	14.0%	10.4%
Healthcare	10.9%	6.9%
Consumer Cyclical	10.4%	3.6%
Communication Services	9.5%	7.4%
Industrials	7.7%	15.6%
Consumer Defensive	6.2%	3.3%
Energy	3.2%	3.5%
Utilities	2.6%	1.6%
Real Estate	2.3%	1.8%
Basic Materials	1.8%	1.7%

Return for Risk

SPQ vs. MTUM — Risk / Return Rank

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

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.

SPQ vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity Plus QIS ETF (SPQ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPQ	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.20	—
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	—	0.85	—

Drawdowns

Drawdown Indicators

	SPQ	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	—	-34.08%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.54%	—
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%	—
Average Drawdown Average peak-to-trough decline	—	-6.21%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.89%	—

Volatility

Volatility by Period

	SPQ	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.04%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	20.60%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.03%	—

SPQ vs. MTUM - Expense Ratio Comparison

SPQ has a 1.00% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

SPQ vs. MTUM - Dividend Comparison

SPQ 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%
SPQ Simplify US Equity Plus QIS ETF	0.00%	0.31%	17.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPQ and MTUM in my portfolio?

SPQ and MTUM have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPQ or MTUM?

On fees, MTUM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPQ or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 1.00% for SPQ.

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

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

What is the main difference between SPQ and MTUM?

SPQ is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Simplify and iShares. Their fees differ too: 1.00% for SPQ and 0.15% for MTUM.