MTUM: iShares MSCI USA Momentum Factor ETF returns, drawdowns and risk
Funds that select stocks by a single characteristic: low volatility, quality, momentum, value or durable competitive advantages.
Data updated October 2026
MTUM · US exchange · USDCategory: Factor ETFs (min vol, quality, momentum, value)Data from April 2013
From April 2013 to October 2026 MTUM returned 15.2% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $67,970.
Its deepest fall was 34.1%, from February 2020 to March 2020, and it took about 5 months to get back to the previous high. Annual volatility was 20.2%; at the last close it was 14.2% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 162 months both have data, the correlation of monthly returns was 0.84: they usually moved together. Beta was 0.98. In months when SPY rose, MTUM moved 94% as much on average; in months when SPY fell, 78% as much.
Key figures
- Annual return (CAGR)
- +15.2%
- 1-year return
- +17.8%
- 5 years, a year
- +10.9%
- 10 years, a year
- +15.8%
- Annual volatility
- 20.2%
- Maximum drawdown
- −34.1%
- Sharpe ratio
- 0.72
- Worst year
- 2022: −18.3%
Trailing returns
| Period | MTUM | SPY |
|---|---|---|
| 1 year | +17.8% | +16.6% |
| 3 years, a year | +29.4% | +23.1% |
| 5 years, a year | +10.9% | +12.7% |
| 10 years, a year | +15.8% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: MTUM vs SPY
Month-end values from May 2013, the first month both funds have data.
MTUM drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | MTUM | SPY |
|---|---|---|
| 2026(partial) | +18.6% | +13.3% |
| 2025 | +22.1% | +17.7% |
| 2024 | +32.9% | +24.9% |
| 2023 | +9.2% | +26.2% |
| 2022 | −18.3% | −18.2% |
| 2021 | +13.4% | +28.7% |
| 2020 | +29.9% | +18.3% |
| 2019 | +27.3% | +31.2% |
| 2018 | −1.7% | −4.6% |
| 2017 | +37.5% | +21.7% |
| 2016 | +5.0% | +12.0% |
| 2015 | +8.9% | +1.2% |
| 2014 | +14.6% | +13.5% |
| 2013(partial) | +19.2% | — |
MTUM compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of MTUM?
From April 2013 to October 2026 MTUM returned 15.2% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +10.9% a year. Over the last 12 months: +17.8%.
What was the worst drawdown of MTUM?
34.1%, from February 2020 to March 2020; it took about 5 months from the previous high to get back to it.
How volatile is MTUM?
Annual volatility was 20.2% over the period. Its worst month was −12.7% and 61% of months were positive. Worst calendar year: 2022 (−18.3%).
How closely does MTUM follow SPY?
Over 162 months the correlation of monthly returns was 0.84, so they usually moved together, with a beta of 0.98.
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Other Factor ETFs (min vol, quality, momentum, value)
- All Factor ETFs (min vol, quality, momentum, value)Returns and risk side by side
- USMV — iShares MSCI USA Min Vol Factor ETFCAGR +9.8%
- QUAL — iShares MSCI USA Quality Factor ETFCAGR +12.4%
- SPLV — Invesco S&P 500 Low Volatility ETFCAGR +8.3%
- VLUE — iShares MSCI USA Value Factor ETFCAGR +19.4%
- MOAT — VanEck Morningstar Wide Moat ETFCAGR +13.7%
- XDEM — Xtrackers MSCI World Momentum UCITS ETF 1CCAGR +11.4%
- XDEV — Xtrackers MSCI World Value UCITS ETF 1CCAGR +9.1%
- XDEQ — Xtrackers MSCI World Quality UCITS ETF 1CCAGR +9.8%
- IWVL — iShares Edge MSCI World Value Factor UCITS ETFCAGR +10.1%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.