TOS vs. MTUM

Last updated Jun 6, 2026

TOS (Twin Oak Strategic Solutions ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - TOS is a Large Cap Blend Equities fund actively managed by Twin Oak ETF Company, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. TOS is actively managed, while MTUM is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. TOS charges 0.76%/yr vs 0.15%/yr for MTUM.

Performance

TOS vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Strategic Solutions ETF (TOS) and iShares MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TOS

• 1D: -4.55%
• 1M: -0.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTUM

• 1D: -5.95%
• 1M: 2.44%
• YTD: 22.55%
• 6M: 21.67%
• 1Y: 33.50%
• 3Y*: 31.72%
• 5Y*: 13.56%
• 10Y*: 16.47%

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

TOS vs. MTUM - Yearly Performance Comparison

	2026 (YTD)
TOS Twin Oak Strategic Solutions ETF	14.23%
MTUM iShares MSCI USA Momentum Factor ETF	17.94%

Correlation

The correlation between TOS and MTUM is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.87

Return for Risk

TOS 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: 54
MTUM Sharpe Ratio Rank: 50
MTUM Sortino Ratio Rank: 47
MTUM Omega Ratio Rank: 51
MTUM Calmar Ratio Rank: 60
MTUM Martin Ratio Rank: 64

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.

TOS vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Strategic Solutions ETF (TOS) 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

	TOS	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.68	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	0.81	+0.93

Drawdowns

TOS vs. MTUM - Drawdown Comparison

The maximum TOS drawdown since its inception was -11.72%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for TOS and MTUM.

Drawdown Indicators

	TOS	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-11.72%	-34.08%	+22.36%
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	-5.20%	-6.99%	+1.79%
Average Drawdown Average peak-to-trough decline	-2.57%	-6.21%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.92%	—

Volatility

Volatility by Period

	TOS	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.41%	20.03%	+6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.41%	20.77%	+5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.41%	21.12%	+5.29%

TOS vs. MTUM - Expense Ratio Comparison

TOS has a 0.76% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

TOS vs. MTUM - Dividend Comparison

TOS has not paid dividends to shareholders, while MTUM's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.64%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
TOS Twin Oak Strategic Solutions ETF	0.00%	0.00%	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 TOS and MTUM in my portfolio?

TOS and MTUM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOS 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, TOS or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.76% for TOS.

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

MTUM has the higher dividend yield at 0.64%, compared with 0.00% for TOS.

What is the main difference between TOS and MTUM?

TOS is categorized as Large Cap Blend Equities, while MTUM is Momentum. They also come from different issuers: Twin Oak ETF Company and iShares. Their fees differ too: 0.76% for TOS and 0.15% for MTUM.