VLUE vs. MTUM

Last updated Jun 4, 2026

VLUE (iShares Edge MSCI USA Value Factor ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Value Weighted Index, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, VLUE returned 15.43%/yr vs 17.31%/yr for MTUM. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

VLUE vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI USA Value Factor ETF (VLUE) 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, VLUE achieves a 49.00% return, which is significantly higher than MTUM's 31.75% return. Over the past 10 years, VLUE has underperformed MTUM with an annualized return of 15.43%, while MTUM has yielded a comparatively higher 17.31% annualized return.

VLUE

• 1D: -0.42%
• 1M: 20.77%
• YTD: 49.00%
• 6M: 51.40%
• 1Y: 91.45%
• 3Y*: 34.26%
• 5Y*: 16.36%
• 10Y*: 15.43%

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)

VLUE vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLUE iShares Edge MSCI USA Value Factor ETF	49.00%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%
MTUM iShares MSCI USA Momentum Factor ETF	31.75%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between VLUE and MTUM is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 19, 2013	0.68

The correlation between VLUE and MTUM has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.

VLUE vs. MTUM - Sectors Allocation Comparison

Sectors	VLUE	MTUM
Technology	44.5%	44.4%
Financial Services	10.4%	10.4%
Healthcare	8.5%	6.9%
Communication Services	8.3%	7.4%
Consumer Cyclical	8.3%	3.6%
Industrials	7.4%	15.6%
Consumer Defensive	4.0%	3.3%
Energy	3.2%	3.5%
Utilities	2.0%	1.6%
Real Estate	1.8%	1.8%
Basic Materials	1.6%	1.7%

Return for Risk

VLUE vs. MTUM — Risk / Return Rank

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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 98
VLUE Omega Ratio Rank: 97
VLUE Calmar Ratio Rank: 96
VLUE Martin Ratio Rank: 97

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.

VLUE vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor ETF (VLUE) 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.

	VLUE	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	5.32	2.20	+3.12
Sortino ratio: Return per unit of downside risk	6.86	2.98	+3.88
Omega ratio: Gain probability vs. loss probability	1.91	1.39	+0.51
Calmar ratio: Return relative to maximum drawdown	10.17	3.64	+6.54
Martin ratio: Return relative to average drawdown	45.62	14.50	+31.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLUE vs. MTUM - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 5.32, which is higher than the MTUM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of VLUE 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.

Sharpe Ratios by Period

	VLUE	MTUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.32	2.20	+3.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.74	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.83	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.85	-0.09

Drawdowns

VLUE vs. MTUM - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, which is greater than MTUM's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for VLUE and MTUM.

Drawdown Indicators

	VLUE	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-39.47%	-34.08%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-11.54%	+2.50%
Max Drawdown (3Y) Largest decline over 3 years	-17.89%	-20.99%	+3.10%
Max Drawdown (5Y) Largest decline over 5 years	-27.12%	-32.28%	+5.16%
Max Drawdown (10Y) Largest decline over 10 years	-39.47%	-34.08%	-5.39%
Current Drawdown Current decline from peak	-0.42%	0.00%	-0.42%
Average Drawdown Average peak-to-trough decline	-6.01%	-6.21%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.89%	-0.88%

Volatility

VLUE vs. MTUM - Volatility Comparison

iShares Edge MSCI USA Value Factor ETF (VLUE) and iShares MSCI USA Momentum Factor ETF (MTUM) have volatilities of 8.03% and 7.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLUE	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.03%	7.68%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	13.96%	16.46%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	17.30%	19.04%	-1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.78%	20.60%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	21.03%	-1.21%

VLUE vs. MTUM - Expense Ratio Comparison

Both VLUE and MTUM have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VLUE vs. MTUM - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.40%, more than MTUM's 0.60% yield.

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%
VLUE iShares Edge MSCI USA Value Factor ETF	1.40%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both VLUE and MTUM in my portfolio?

VLUE and MTUM have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLUE or MTUM?

VLUE has higher volatility (8.03%) compared to MTUM (7.68%). In terms of maximum drawdown, VLUE dropped -39.47% vs MTUM's -34.08%.

Which ETF is better, VLUE or MTUM?

On 10-year performance, MTUM leads with 17.31% vs 15.43% for VLUE. Both ETFs have the same 0.15% expense ratio. On volatility, MTUM has been the lower-risk option at 7.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLUE or MTUM?

Over the 10-year period, MTUM has performed better with a 17.31% return vs 15.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLUE or MTUM?

VLUE and MTUM have the same expense ratio: 0.15% per year.

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

VLUE has the higher dividend yield at 1.40%, compared with 0.60% for MTUM.

What is the main difference between VLUE and MTUM?

VLUE is categorized as Large Cap Value Equities, while MTUM is Momentum. VLUE tracks MSCI USA Value Weighted Index, while MTUM tracks MSCI USA Momentum SR Variant Index.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (5.32 vs 2.20), 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.