PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TDTF vs. MMTM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TDTF vs. MMTM

Last updated Jun 4, 2026

TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) and MMTM (SPDR S&P 1500 Momentum Tilt ETF) are both exchange-traded funds - TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS, while MMTM is a Momentum fund tracking the S&P 1500 Positive Momentum Tilt Index. Both are passively managed. Over the past 10 years, TDTF returned 2.93%/yr vs 15.00%/yr for MMTM. At a 0.04 correlation, their price movements are largely independent. TDTF charges 0.18%/yr vs 0.12%/yr for MMTM.

Performance

TDTF vs. MMTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) and SPDR S&P 1500 Momentum Tilt ETF (MMTM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TDTF achieves a 1.52% return, which is significantly lower than MMTM's 9.16% return. Over the past 10 years, TDTF has underperformed MMTM with an annualized return of 2.93%, while MMTM has yielded a comparatively higher 15.00% annualized return.

TDTF

1D
-0.13%
1M
-0.44%
YTD
1.52%
6M
1.18%
1Y
5.07%
3Y*
4.56%
5Y*
1.72%
10Y*
2.93%

MMTM

1D
-1.07%
1M
2.46%
YTD
9.16%
6M
9.58%
1Y
24.27%
3Y*
22.46%
5Y*
13.50%
10Y*
15.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TDTF vs. MMTM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TDTF
FlexShares iBoxx 5-Year Target Duration TIPS Index Fund		1.52%7.83%2.40%4.10%-9.73%5.54%9.98%7.99%-0.82%1.93%
MMTM
SPDR S&P 1500 Momentum Tilt ETF		9.16%13.26%29.94%22.49%-16.12%26.33%19.27%29.98%-4.62%24.41%

Correlation

The correlation between TDTF and MMTM is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2012

0.04

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

FlexShares iBoxx 5-Year Target Duration TIPS Index Fund

SPDR S&P 1500 Momentum Tilt ETF

Often compared with TDTF:
TDTF vs. JSCPTDTF vs. TIPTDTF vs. VABSTDTF vs. SPYTDTF vs. SPIBTDTF vs. JPLDTDTF vs. VTIP
Often compared with MMTM:
MMTM vs. MTUMMMTM vs. SPYMMTM vs. VOOMMTM vs. PDPMMTM vs. SPTMMMTM vs. VFMOMMTM vs. VLU

Return for Risk

TDTF vs. MMTM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TDTF
TDTF Risk / Return Rank: 5454
Overall Rank
TDTF Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
TDTF Sortino Ratio Rank: 5252
Sortino Ratio Rank
TDTF Omega Ratio Rank: 4848
Omega Ratio Rank
TDTF Calmar Ratio Rank: 6565
Calmar Ratio Rank
TDTF Martin Ratio Rank: 6060
Martin Ratio Rank
MMTM
MMTM Risk / Return Rank: 5151
Overall Rank
MMTM Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
MMTM Sortino Ratio Rank: 4848
Sortino Ratio Rank
MMTM Omega Ratio Rank: 4949
Omega Ratio Rank
MMTM Calmar Ratio Rank: 4949
Calmar Ratio Rank
MMTM Martin Ratio Rank: 6262
Martin Ratio Rank
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.

TDTF vs. MMTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) and SPDR S&P 1500 Momentum Tilt ETF (MMTM). 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.

TDTFMMTMDifference
Sharpe ratioReturn per unit of total volatility
1.67
1.72

-0.05

Sortino ratioReturn per unit of downside risk
2.55
2.40

+0.15

Omega ratioGain probability vs. loss probability

1.30

1.31

-0.01

Calmar ratioReturn relative to maximum drawdown

3.22

2.46

+0.75

Martin ratioReturn relative to average drawdown

10.66

11.15

-0.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDTF vs. MMTM - Sharpe Ratio Comparison

The current TDTF Sharpe Ratio is 1.67, which is comparable to the MMTM Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of TDTF and MMTM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

TDTFMMTMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.67

1.72

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.30

0.75

-0.44

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.81

-0.23

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.85

-0.37

Drawdowns

TDTF vs. MMTM - Drawdown Comparison

The maximum TDTF drawdown since its inception was -12.02%, smaller than the maximum MMTM drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for TDTF and MMTM.

Loading charts...

Drawdown Indicators

TDTFMMTMDifference

Max Drawdown

Largest peak-to-trough decline

-12.02%

-33.85%

+21.83%

Max Drawdown (1Y)

Largest decline over 1 year

-1.58%

-9.89%

+8.31%

Max Drawdown (3Y)

Largest decline over 3 years

-3.79%

-22.08%

+18.29%

Max Drawdown (5Y)

Largest decline over 5 years

-12.02%

-23.72%

+11.70%

Max Drawdown (10Y)

Largest decline over 10 years

-12.02%

-33.85%

+21.83%

Current Drawdown

Current decline from peak

-0.57%

-1.48%

+0.91%

Average Drawdown

Average peak-to-trough decline

-2.91%

-4.20%

+1.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

2.18%

-1.70%

Volatility

TDTF vs. MMTM - Volatility Comparison

The current volatility for FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) is 0.73%, while SPDR S&P 1500 Momentum Tilt ETF (MMTM) has a volatility of 2.35%. This indicates that TDTF experiences smaller price fluctuations and is considered to be less risky than MMTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TDTFMMTMDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.73%

2.35%

-1.62%

Volatility (6M)

Calculated over the trailing 6-month period

1.97%

10.73%

-8.76%

Volatility (1Y)

Calculated over the trailing 1-year period

3.06%

14.19%

-11.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.69%

18.20%

-12.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.07%

18.65%

-13.58%

TDTF vs. MMTM - Expense Ratio Comparison

TDTF has a 0.18% expense ratio, which is higher than MMTM's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TDTF vs. MMTM - Dividend Comparison

TDTF's dividend yield for the trailing twelve months is around 4.71%, more than MMTM's 0.78% yield.

PositionTTM20252024202320222021202020192018201720162015
MMTM
SPDR S&P 1500 Momentum Tilt ETF		0.78%0.86%0.83%1.16%1.67%0.95%1.14%1.55%1.64%1.52%1.98%1.68%
TDTF
FlexShares iBoxx 5-Year Target Duration TIPS Index Fund		4.71%4.58%3.98%3.97%7.60%4.55%1.13%1.80%2.60%2.20%1.51%0.21%

Frequently Asked Questions

TDTF and MMTM have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MMTM has higher volatility (2.35%) compared to TDTF (0.73%). In terms of maximum drawdown, TDTF dropped -12.02% vs MMTM's -33.85%.

On 10-year performance, MMTM leads with 15.00% vs 2.93% for TDTF. On fees, MMTM is cheaper at 0.12% per year. On volatility, TDTF has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MMTM has performed better with a 15.00% return vs 2.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MMTM is cheaper with a 0.12% expense ratio, compared with 0.18% for TDTF.

TDTF has the higher dividend yield at 4.71%, compared with 0.78% for MMTM.

TDTF is categorized as Inflation-Protected Bonds, while MMTM is Momentum. TDTF tracks iBoxx 5-Year Target Duration TIPS, while MMTM tracks S&P 1500 Positive Momentum Tilt Index. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.18% for TDTF and 0.12% for MMTM.

MMTM currently has the higher Sharpe Ratio (1.72 vs 1.67), 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.

Portfolio Optimizer

Find the right allocation for TDTF and MMTM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer