UEVM vs. MMTM

Last updated Aug 4, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and MMTM (State Street SPDR S&P 1500 Momentum Tilt ETF) are both Momentum funds - UEVM tracks the Nasdaq Victory Emerging Market Value Momentum Index while MMTM tracks the S&P 1500 Positive Momentum Tilt Index. Both are passively managed. Over the past 5 years, UEVM returned 8.36%/yr vs 11.57%/yr for MMTM. Their 0.59 correlation means they have sometimes moved together and sometimes differently. UEVM charges 0.45%/yr vs 0.12%/yr for MMTM.

Performance

UEVM vs. MMTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Emerging Markets Value Momentum ETF (UEVM) and State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UEVM achieves a 9.19% return, which is significantly higher than MMTM's 4.05% return.

UEVM

• 1D: -0.02%
• 1M: 4.45%
• 6M: 2.40%
• YTD: 9.19%
• 1Y: 18.69%
• 3Y*: 16.40%
• 5Y*: 8.36%
• 10Y*: —
• ALL TIME*: 5.82%

MMTM

• 1D: 0.93%
• 1M: -0.78%
• 6M: 1.50%
• YTD: 4.05%
• 1Y: 13.77%
• 3Y*: 18.65%
• 5Y*: 11.57%
• 10Y*: 14.15%
• ALL TIME*: 14.06%

*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)
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF	$361.33K	$398.75K	$394.98K
UEVM VictoryShares Emerging Markets Value Momentum ETF	$142.75K	$200.41K	$201.25K

UEVM vs. MMTM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEVM VictoryShares Emerging Markets Value Momentum ETF	9.19%	22.74%	11.92%	17.41%	-14.60%	11.09%	3.77%	10.71%	-16.96%	3.04%
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF	4.05%	13.26%	29.94%	22.49%	-16.12%	26.33%	19.27%	29.98%	-4.62%	5.65%

Correlation

The correlation between UEVM and MMTM is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.59

The correlation between UEVM and MMTM shifts across timeframes, from 0.51 (3 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.

UEVM vs. MMTM - Sectors Allocation Comparison

Sectors	UEVM	MMTM
Financial Services	26.7%	8.2%
Consumer Cyclical	11.6%	7.6%
Consumer Defensive	10.1%	2.7%
Industrials	9.7%	11.0%
Healthcare	8.7%	6.6%
Technology	8.6%	42.6%
Basic Materials	7.4%	1.8%
Energy	5.9%	4.5%
Utilities	5.0%	2.0%
Real Estate	4.2%	1.6%
Communication Services	2.2%	11.4%

Return for Risk

UEVM vs. MMTM — Risk / Return Rank

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

UEVM

UEVM Risk / Return Rank: 46
UEVM Sharpe Ratio Rank: 45
UEVM Sortino Ratio Rank: 43
UEVM Omega Ratio Rank: 44
UEVM Calmar Ratio Rank: 51
UEVM Martin Ratio Rank: 47

MMTM

MMTM Risk / Return Rank: 37
MMTM Sharpe Ratio Rank: 35
MMTM Sortino Ratio Rank: 34
MMTM Omega Ratio Rank: 33
MMTM Calmar Ratio Rank: 39
MMTM Martin Ratio Rank: 43

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.

UEVM vs. MMTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) and State Street 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.

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.

	UEVM	MMTM	Difference
Sharpe ratio: Return per unit of total volatility	1.18	0.90	+0.28
Sortino ratio: Return per unit of downside risk	1.65	1.32	+0.33
Omega ratio: Gain probability vs. loss probability	1.22	1.16	+0.05
Calmar ratio: Return relative to maximum drawdown	1.92	1.40	+0.52
Martin ratio: Return relative to average drawdown	5.56	4.74	+0.82

UEVM vs. MMTM - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.18, which is higher than the MMTM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of UEVM 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.

Drawdowns

UEVM vs. MMTM - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, which is greater than MMTM's maximum drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for UEVM and MMTM.

Drawdown Indicators

	UEVM	MMTM	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-33.85%	-11.59%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-9.89%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-22.08%	+3.20%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	-23.72%	-2.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.85%	—
Current Drawdown Current decline from peak	-2.00%	-6.09%	+4.09%
Average Drawdown Average peak-to-trough decline	-11.53%	-4.20%	-7.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	2.91%	+0.46%

Volatility

UEVM vs. MMTM - Volatility Comparison

The current volatility for VictoryShares Emerging Markets Value Momentum ETF (UEVM) is 4.13%, while State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM) has a volatility of 5.24%. This indicates that UEVM 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.

Volatility by Period

	UEVM	MMTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	5.24%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	11.88%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	15.45%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	18.35%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	18.72%	-0.36%

UEVM vs. MMTM - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than MMTM's 0.12% expense ratio.

Dividends

UEVM vs. MMTM - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 2.66%, more than MMTM's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF	0.89%	0.86%	0.83%	1.16%	1.67%	0.95%	1.14%	1.55%	1.64%	1.52%	1.98%	1.68%
UEVM VictoryShares Emerging Markets Value Momentum ETF	2.66%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UEVM and MMTM in my portfolio?

UEVM and MMTM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEVM or MMTM?

MMTM has higher volatility (5.24%) compared to UEVM (4.13%). In terms of maximum drawdown, UEVM dropped -45.44% vs MMTM's -33.85%.

Which ETF is better, UEVM or MMTM?

On 5-year performance, MMTM leads with 11.57% vs 8.36% for UEVM. On fees, MMTM is cheaper at 0.12% per year. On volatility, UEVM has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UEVM or MMTM?

Over the 5-year period, MMTM has performed better with a 11.57% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UEVM or MMTM?

MMTM is cheaper with a 0.12% expense ratio, compared with 0.45% for UEVM.

Which ETF pays a higher dividend yield, UEVM or MMTM?

UEVM has the higher dividend yield at 2.66%, compared with 0.89% for MMTM.

What is the main difference between UEVM and MMTM?

UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while MMTM tracks S&P 1500 Positive Momentum Tilt Index. They also come from different issuers: Victory and State Street. Their fees differ too: 0.45% for UEVM and 0.12% for MMTM.

Which has better risk-adjusted returns?

UEVM currently has the higher Sharpe Ratio (1.18 vs 0.90), 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.