TEK vs. MTUM

Last updated Aug 2, 2026

TEK (iShares Technology Opportunities Active ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - TEK is a Technology Equities fund actively managed by iShares, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. TEK is actively managed, while MTUM is passively managed. Over the past year, TEK returned 30.40% vs 26.36% for MTUM. Their correlation of 0.87 means they have usually moved in the same direction. TEK charges 0.75%/yr vs 0.15%/yr for MTUM.

Performance

TEK vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Technology Opportunities Active ETF (TEK) 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, TEK achieves a 21.44% return, which is significantly higher than MTUM's 19.93% return.

TEK

• 1D: 1.29%
• 1M: -7.12%
• 6M: 19.04%
• YTD: 21.44%
• 1Y: 30.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.70%

MTUM

• 1D: 0.27%
• 1M: -5.35%
• 6M: 17.31%
• YTD: 19.93%
• 1Y: 26.36%
• 3Y*: 27.89%
• 5Y*: 12.62%
• 10Y*: 15.71%
• ALL TIME*: 15.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MTUM iShares MSCI USA Momentum Factor ETF	$558.09M	$637.73M	$538.11M
TEK iShares Technology Opportunities Active ETF	$171.97K	$226.82K	$208.52K

TEK vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TEK iShares Technology Opportunities Active ETF	21.44%	18.63%	2.63%
MTUM iShares MSCI USA Momentum Factor ETF	19.93%	22.15%	-0.51%

Correlation

The correlation between TEK and MTUM is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.87

The correlation between TEK and MTUM has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

TEK vs. MTUM - Sectors Allocation Comparison

Sectors	TEK	MTUM
Technology	85.8%	48.3%
Industrials	5.3%	12.1%
Communication Services	5.2%	4.4%
Consumer Cyclical	2.9%	3.0%
Basic Materials	0.8%	2.2%
Financial Services	0.3%	5.2%
Consumer Defensive	-	3.7%
Energy	-	11.5%
Healthcare	-	4.2%
Real Estate	-	1.5%
Utilities	-	3.7%

Return for Risk

TEK vs. MTUM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TEK

TEK Risk / Return Rank: 35
TEK Sharpe Ratio Rank: 34
TEK Sortino Ratio Rank: 35
TEK Omega Ratio Rank: 34
TEK Calmar Ratio Rank: 35
TEK Martin Ratio Rank: 36

MTUM

MTUM Risk / Return Rank: 42
MTUM Sharpe Ratio Rank: 40
MTUM Sortino Ratio Rank: 39
MTUM Omega Ratio Rank: 41
MTUM Calmar Ratio Rank: 40
MTUM Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TEK vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Technology Opportunities Active ETF (TEK) 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.

	TEK	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	0.83	0.99	-0.15
Sortino ratio: Return per unit of downside risk	1.30	1.45	-0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.19	-0.03
Calmar ratio: Return relative to maximum drawdown	1.23	1.40	-0.17
Martin ratio: Return relative to average drawdown	3.53	5.72	-2.19

TEK vs. MTUM - Sharpe Ratio Comparison

The current TEK Sharpe Ratio is 0.83, which is comparable to the MTUM Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of TEK 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

TEK vs. MTUM - Drawdown Comparison

The maximum TEK drawdown since its inception was -28.24%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for TEK and MTUM.

Drawdown Indicators

	TEK	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-34.08%	+5.84%
Max Drawdown (1Y) Largest decline over 1 year	-22.55%	-17.99%	-4.56%
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	-15.72%	-13.22%	-2.50%
Average Drawdown Average peak-to-trough decline	-6.17%	-6.22%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.82%	4.39%	+3.43%

Volatility

TEK vs. MTUM - Volatility Comparison

iShares Technology Opportunities Active ETF (TEK) has a higher volatility of 14.74% compared to iShares MSCI USA Momentum Factor ETF (MTUM) at 11.22%. This indicates that TEK'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

	TEK	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.74%	11.22%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	29.28%	23.33%	+5.95%
Volatility (1Y) Calculated over the trailing 1-year period	33.18%	25.53%	+7.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.24%	21.89%	+10.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.24%	21.72%	+10.52%

TEK vs. MTUM - Expense Ratio Comparison

TEK has a 0.75% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

TEK vs. MTUM - Dividend Comparison

TEK's dividend yield for the trailing twelve months is around 1.31%, more than MTUM's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.62%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
TEK iShares Technology Opportunities Active ETF	1.31%	1.62%	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 TEK and MTUM in my portfolio?

TEK and MTUM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEK or MTUM?

TEK has higher volatility (14.74%) compared to MTUM (11.22%). In terms of maximum drawdown, TEK dropped -28.24% vs MTUM's -34.08%.

Which ETF is better, TEK or MTUM?

On 1-year performance, TEK leads with 30.40% vs 26.36% for MTUM. On fees, MTUM is cheaper at 0.15% per year. On volatility, MTUM has been the lower-risk option at 11.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEK or MTUM?

Over the 1-year period, TEK has performed better with a 30.40% return vs 26.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEK or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.75% for TEK.

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

TEK has the higher dividend yield at 1.31%, compared with 0.62% for MTUM.

What is the main difference between TEK and MTUM?

TEK is categorized as Technology Equities, while MTUM is Momentum. Their fees differ too: 0.75% for TEK and 0.15% for MTUM.

Which has better risk-adjusted returns?

MTUM currently has the higher Sharpe Ratio (0.99 vs 0.83), 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.