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XMTM.TO vs. MTUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMTM.TO vs. MTUM

Last updated Jun 4, 2026

XMTM.TO (iShares MSCI USA Momentum Factor Index ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both Momentum funds from iShares tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 5 years, XMTM.TO returned 17.92%/yr vs 18.51%/yr for MTUM. A 0.52 correlation means they provide meaningful diversification when combined. XMTM.TO charges 0.31%/yr vs 0.15%/yr for MTUM.

Performance

XMTM.TO vs. MTUM - Performance Comparison

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

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Different Trading Currencies

XMTM.TO is traded in CAD, while MTUM is traded in USD. To make them comparable, the MTUM values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with XMTM.TO having a 33.39% return and MTUM slightly higher at 33.43%.

XMTM.TO

1D
4.00%
1M
19.00%
YTD
33.39%
6M
29.32%
1Y
40.58%
3Y*
35.55%
5Y*
17.92%
10Y*
—

MTUM

1D
1.48%
1M
18.22%
YTD
33.43%
6M
31.87%
1Y
43.59%
3Y*
36.32%
5Y*
18.51%
10Y*
18.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMTM.TO vs. MTUM - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		33.39%14.02%43.59%6.48%-14.53%15.01%25.77%3.42%
MTUM
iShares MSCI USA Momentum Factor ETF		33.43%16.55%44.30%6.74%-12.44%12.34%27.67%2.77%

Correlation

The correlation between XMTM.TO and MTUM is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.85

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

0.69

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

0.56

Correlation (All Time)
Calculated using the full available price history since Sep 18, 2019

0.52

Over the past year, XMTM.TO and MTUM have become more correlated (0.85) than their long-term average of 0.52, meaning their price movements have been converging.

XMTM.TO vs. MTUM - Sectors Allocation Comparison

Sectors
XMTM.TO
MTUM

Technology

44.7%
44.4%

Industrials

15.3%
15.6%

Financial Services

10.5%
10.4%

Communication Services

7.0%
7.4%

Healthcare

7.0%
6.9%

Consumer Cyclical

3.7%
3.6%

Energy

3.6%
3.5%

Consumer Defensive

3.3%
3.3%

Real Estate

1.8%
1.8%

Basic Materials

1.7%
1.7%

Utilities

1.6%
1.6%

Technology

XMTM.TO
44.7%
MTUM
44.4%

Industrials

XMTM.TO
15.3%
MTUM
15.6%

Financial Services

XMTM.TO
10.5%
MTUM
10.4%

Communication Services

XMTM.TO
7.0%
MTUM
7.4%

Healthcare

XMTM.TO
7.0%
MTUM
6.9%

Consumer Cyclical

XMTM.TO
3.7%
MTUM
3.6%

Energy

XMTM.TO
3.6%
MTUM
3.5%

Consumer Defensive

XMTM.TO
3.3%
MTUM
3.3%

Real Estate

XMTM.TO
1.8%
MTUM
1.8%

Basic Materials

XMTM.TO
1.7%
MTUM
1.7%

Utilities

XMTM.TO
1.6%
MTUM
1.6%

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iShares MSCI USA Momentum Factor Index ETF

iShares MSCI USA Momentum Factor ETF

Often compared with XMTM.TO:
XMTM.TO vs. SPMOXMTM.TO vs. VMO.TOXMTM.TO vs. VFV.TOXMTM.TO vs. XCHP.TOXMTM.TO vs. FEQT.NEOXMTM.TO vs. QQC.TOXMTM.TO vs. VOO
Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VOOMTUM vs. VFMOMTUM vs. QMOM

Return for Risk

XMTM.TO vs. MTUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMTM.TO
XMTM.TO Risk / Return Rank: 6565
Overall Rank
XMTM.TO Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XMTM.TO Sortino Ratio Rank: 6666
Sortino Ratio Rank
XMTM.TO Omega Ratio Rank: 6464
Omega Ratio Rank
XMTM.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
XMTM.TO Martin Ratio Rank: 5858
Martin Ratio Rank
MTUM
MTUM Risk / Return Rank: 6767
Overall Rank
MTUM Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 6262
Sortino Ratio Rank
MTUM Omega Ratio Rank: 6363
Omega Ratio Rank
MTUM Calmar Ratio Rank: 7171
Calmar Ratio Rank
MTUM Martin Ratio Rank: 7575
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.

XMTM.TO vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) 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.

XMTM.TOMTUMDifference
Sharpe ratioReturn per unit of total volatility
2.20
2.35

-0.15

Sortino ratioReturn per unit of downside risk
3.07
3.17

-0.10

Omega ratioGain probability vs. loss probability

1.39

1.42

-0.02

Calmar ratioReturn relative to maximum drawdown

3.57

4.12

-0.55

Martin ratioReturn relative to average drawdown

10.21

14.20

-4.00

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

XMTM.TO vs. MTUM - Sharpe Ratio Comparison

The current XMTM.TO Sharpe Ratio is 2.20, which is comparable to the MTUM Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of XMTM.TO 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.

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Sharpe Ratios by Period

XMTM.TOMTUMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.20

2.35

-0.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

0.98

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.93

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

1.04

-0.16

Drawdowns

XMTM.TO vs. MTUM - Drawdown Comparison

The maximum XMTM.TO drawdown since its inception was -29.01%, roughly equal to the maximum MTUM drawdown of -28.94%. Use the drawdown chart below to compare losses from any high point for XMTM.TO and MTUM.

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Drawdown Indicators

XMTM.TOMTUMDifference

Max Drawdown

Largest peak-to-trough decline

-29.01%

-28.94%

-0.07%

Max Drawdown (1Y)

Largest decline over 1 year

-11.42%

-10.64%

-0.78%

Max Drawdown (3Y)

Largest decline over 3 years

-20.64%

-20.78%

+0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-29.01%

-28.94%

-0.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.94%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.96%

-5.50%

-2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.99%

3.09%

+0.90%

Volatility

XMTM.TO vs. MTUM - Volatility Comparison

iShares MSCI USA Momentum Factor Index ETF (XMTM.TO) and iShares MSCI USA Momentum Factor ETF (MTUM) have volatilities of 7.86% and 7.67%, 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.

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Volatility by Period

XMTM.TOMTUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.86%

7.67%

+0.19%

Volatility (6M)

Calculated over the trailing 6-month period

16.02%

16.08%

-0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

18.57%

18.66%

-0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.79%

18.94%

-0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.07%

19.62%

+0.45%

XMTM.TO vs. MTUM - Expense Ratio Comparison

XMTM.TO has a 0.31% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

XMTM.TO vs. MTUM - Dividend Comparison

XMTM.TO's dividend yield for the trailing twelve months is around 0.46%, less than MTUM's 0.60% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XMTM.TO
iShares MSCI USA Momentum Factor Index ETF		0.46%0.70%0.62%0.84%1.66%0.33%0.64%1.24%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XMTM.TO and MTUM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

MTUM is cheaper with a 0.15% expense ratio, compared with 0.31% for XMTM.TO.

Both ETFs track MSCI USA Momentum SR Variant Index. Their fees differ too: 0.31% for XMTM.TO and 0.15% for MTUM.

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