XT vs. MTUM

Last updated Jul 14, 2026

XT (iShares Future Exponential Technologies ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - XT is a Technology Equities fund tracking the Morningstar Exponential Technologies Index (Net), while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Both are passively managed. Over the past 10 years, XT returned 14.27%/yr vs 16.34%/yr for MTUM. A 0.79 correlation means they provide meaningful diversification when combined. XT charges 0.46%/yr vs 0.15%/yr for MTUM.

Performance

XT vs. MTUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Future Exponential Technologies ETF (XT) 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, XT achieves a 16.76% return, which is significantly lower than MTUM's 25.95% return. Over the past 10 years, XT has underperformed MTUM with an annualized return of 14.27%, while MTUM has yielded a comparatively higher 16.34% annualized return.

XT

• 1D: -1.61%
• 1M: 0.51%
• 6M: 12.33%
• YTD: 16.76%
• 1Y: 33.81%
• 3Y*: 15.71%
• 5Y*: 7.17%
• 10Y*: 14.27%

MTUM

• 1D: -2.22%
• 1M: -2.90%
• 6M: 21.75%
• YTD: 25.95%
• 1Y: 34.12%
• 3Y*: 30.38%
• 5Y*: 14.17%
• 10Y*: 16.34%

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

XT vs. MTUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XT iShares Future Exponential Technologies ETF	16.76%	26.28%	0.29%	27.02%	-27.83%	16.43%	35.10%	30.74%	-4.93%	33.71%
MTUM iShares MSCI USA Momentum Factor ETF	25.95%	22.15%	32.89%	9.15%	-18.27%	13.36%	29.86%	27.25%	-1.67%	37.50%

Correlation

The correlation between XT and MTUM is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 24, 2015	0.79

The correlation between XT and MTUM has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

XT vs. MTUM - Sectors Allocation Comparison

Sectors	XT	MTUM
Technology	43.5%	50.2%
Healthcare	26.9%	3.5%
Industrials	7.8%	15.0%
Consumer Cyclical	7.5%	2.9%
Utilities	4.7%	0.6%
Communication Services	4.1%	5.1%
Financial Services	3.0%	5.0%
Basic Materials	1.6%	2.3%
Energy	0.5%	10.5%
Real Estate	0.0%	1.3%
Consumer Defensive	0.0%	3.7%

Return for Risk

XT vs. MTUM — Risk / Return Rank

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

XT

XT Risk / Return Rank: 76
XT Sharpe Ratio Rank: 77
XT Sortino Ratio Rank: 73
XT Omega Ratio Rank: 72
XT Calmar Ratio Rank: 79
XT Martin Ratio Rank: 82

MTUM

MTUM Risk / Return Rank: 60
MTUM Sharpe Ratio Rank: 53
MTUM Sortino Ratio Rank: 49
MTUM Omega Ratio Rank: 54
MTUM Calmar Ratio Rank: 73
MTUM Martin Ratio Rank: 70

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.

XT vs. MTUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Future Exponential Technologies ETF (XT) 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.

	XT	MTUM	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.44	+0.50
Sortino ratio: Return per unit of downside risk	2.62	1.95	+0.67
Omega ratio: Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	3.25	2.97	+0.28
Martin ratio: Return relative to average drawdown	12.61	10.23	+2.38

XT vs. MTUM - Sharpe Ratio Comparison

The current XT Sharpe Ratio is 1.95, which is higher than the MTUM Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of XT 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

XT vs. MTUM - Drawdown Comparison

The maximum XT drawdown since its inception was -34.41%, roughly equal to the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for XT and MTUM.

Drawdown Indicators

	XT	MTUM	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-34.08%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-11.54%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-22.09%	-20.99%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-32.28%	-2.13%
Max Drawdown (10Y) Largest decline over 10 years	-34.41%	-34.08%	-0.33%
Current Drawdown Current decline from peak	-3.32%	-8.86%	+5.54%
Average Drawdown Average peak-to-trough decline	-7.36%	-6.19%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	3.34%	-0.65%

Volatility

XT vs. MTUM - Volatility Comparison

The current volatility for iShares Future Exponential Technologies ETF (XT) is 6.67%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 13.18%. This indicates that XT experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XT	MTUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.67%	13.18%	-6.51%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	21.54%	-7.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.50%	23.81%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.05%	21.54%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	21.52%	-1.43%

XT vs. MTUM - Expense Ratio Comparison

XT has a 0.46% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

XT vs. MTUM - Dividend Comparison

XT's dividend yield for the trailing twelve months is around 7.02%, more than MTUM's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MTUM iShares MSCI USA Momentum Factor ETF	0.59%	0.91%	0.75%	1.35%	1.80%	0.55%	0.83%	1.48%	1.27%	1.02%	1.43%	1.12%
XT iShares Future Exponential Technologies ETF	7.02%	7.95%	0.66%	0.41%	0.78%	0.84%	0.77%	1.55%	1.40%	0.97%	1.37%	1.34%

Frequently Asked Questions

Can I hold both XT and MTUM in my portfolio?

XT and MTUM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XT or MTUM?

MTUM has higher volatility (13.18%) compared to XT (6.67%). In terms of maximum drawdown, XT dropped -34.41% vs MTUM's -34.08%.

Which ETF is better, XT or MTUM?

On 10-year performance, MTUM leads with 16.34% vs 14.27% for XT. On fees, MTUM is cheaper at 0.15% per year. On volatility, XT has been the lower-risk option at 6.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XT or MTUM?

Over the 10-year period, MTUM has performed better with a 16.34% return vs 14.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XT or MTUM?

MTUM is cheaper with a 0.15% expense ratio, compared with 0.46% for XT.

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

XT has the higher dividend yield at 7.02%, compared with 0.59% for MTUM.

What is the main difference between XT and MTUM?

XT is categorized as Technology Equities, while MTUM is Momentum. XT tracks Morningstar Exponential Technologies Index (Net), while MTUM tracks MSCI USA Momentum SR Variant Index. Their fees differ too: 0.46% for XT and 0.15% for MTUM.

Which has better risk-adjusted returns?

XT currently has the higher Sharpe Ratio (1.95 vs 1.44), 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.