iShares MSCI USA Momentum Factor ETF (MTUM)
$293.17−2.78%close of Oct 16, 2026
iShares MSCI USA Momentum Factor ETF (MTUM) is an exchange-traded fund (ETF) run by iShares (BlackRock). This fund owns large and medium sized US companies whose stock prices have been rising faster than others. It charges 0.15% a year. From April 2013 to October 2026 it returned about 15.2% a year, and its worst drop was −34.1%.
Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 16, 2026.
- Yearly fee
- 0.15%
- about $15 on $10,000
- 1-year return
- 16.7%
- to Oct 16, 2026
- Return per year
- 15.2%
- since April 2013
- Worst drop
- −34.1%
- since 2013
- Below its high
- −14.9%
- now
- Volatility
- 20.2%
- yearly swings
- Issuer
- iShares (BlackRock)
- Tracks
- MSCI USA Momentum SR Variant Index
- Started trading
- April 16, 2013
- Type
- US stocks, ETF
- Holdings
- 125 holdings as of October 15, 2026
- Expense ratio
- 0.15% a year
How has MTUM done since 2013?#
From April 2013 to October 2026, MTUM returned about 15.2% a year. The S&P 500 returned about 14.5% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $67,386 at the end, with every dividend reinvested.
| Period | MTUM | S&P 500 (SPY) |
|---|---|---|
| 1 month | −2.2% | 1.5% |
| 3 months | −3.2% | 1.9% |
| 6 months | 8.6% | 9.3% |
| Year to date | 17.6% | 12.8% |
| 1 year | 16.7% | 16.8% |
| 3 years per year | 28.2% | 22.0% |
| 5 years per year | 11.0% | 12.8% |
| 10 years per year | 15.8% | 15.4% |
| Since 2013 per year | 15.2% | 14.5% |
Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.
MTUM returns by month and year#
MTUM rose in 100 of its 163 months (61%). Its best month was April 2026, at 18.3%. Its worst was April 2022, at −12.7%.
| Year | Total | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 17.6% | 2.2 | −1.1 | −5.0 | 18.3 | 11.2 | 8.7 | −12.6 | 0.3 | 5.9 | −7.6 | ||
| 2025 | 22.1% | 5.9 | −0.3 | −7.2 | 3.7 | 10.5 | 4.0 | 0.4 | 1.0 | 5.5 | −0.9 | −1.6 | 0.3 |
| 2024 | 32.9% | 5.6 | 10.0 | 2.9 | −5.5 | 5.4 | 4.5 | −2.0 | 3.4 | 3.0 | −0.2 | 7.0 | −4.1 |
| 2023 | 9.2% | −0.5 | −4.0 | 0.4 | 2.4 | −4.8 | 6.9 | 1.7 | 0.3 | −4.8 | −1.6 | 9.2 | 4.8 |
| 2022 | −18.3% | −9.0 | −2.7 | 4.8 | −12.7 | −0.6 | −6.4 | 5.2 | −2.0 | −5.9 | 12.6 | 3.5 | −3.9 |
| 2021 | 13.4% | 1.6 | −0.6 | −1.2 | 7.1 | −1.1 | 1.9 | 0.9 | 4.1 | −3.5 | 8.6 | −3.9 | −0.5 |
| 2020 | 29.9% | 3.7 | −7.2 | −11.5 | 11.7 | 5.9 | 4.3 | 7.0 | 9.5 | −3.8 | −4.2 | 10.6 | 3.4 |
| 2019 | 27.3% | 6.5 | 3.4 | 2.1 | 2.3 | −2.2 | 6.1 | 1.8 | 0.3 | −1.1 | 0.7 | 3.3 | 1.7 |
| 2018 | −1.7% | 8.2 | −1.5 | −3.4 | 0.5 | 3.5 | −0.1 | 1.8 | 5.9 | 0.9 | −9.9 | 1.4 | −7.5 |
| 2017 | 37.5% | 3.2 | 3.8 | 2.1 | 2.6 | 4.8 | 0.4 | 3.5 | 1.5 | 2.8 | 5.0 | 2.8 | 0.1 |
| 2016 | 5.0% | −3.8 | −1.3 | 5.3 | −0.6 | 2.5 | 3.0 | 2.7 | −1.5 | 0.5 | −1.9 | −0.6 | 1.1 |
| 2015 | 8.9% | −0.7 | 5.4 | −1.0 | −1.0 | 3.4 | −0.3 | 3.8 | −6.0 | −1.9 | 7.3 | 0.5 | −0.1 |
| 2014 | 14.6% | −2.3 | 6.7 | −3.4 | −1.0 | 4.1 | 2.1 | −1.0 | 4.6 | −0.7 | 2.3 | 3.8 | −0.8 |
| 2013 | 19.2% | 1.8 | 0.3 | −0.8 | 6.0 | −3.6 | 3.0 | 5.6 | 3.2 | 2.7 |
Each month runs from the last close of the month before. The first month counts from the first close.
How risky is MTUM compared with the S&P 500?#
Measured from October 2021 to October 2026, on the days both traded.
- Beta 1.08. When the S&P 500 moved 1% in a day, MTUM tended to move about 1.08%.
- Correlation 0.84. MTUM mostly moved with the S&P 500.
- Up and down months. In months the S&P 500 rose, MTUM rose 86% as much on average. In months it fell, MTUM fell 79% as much.
| Measure | MTUM | S&P 500 (SPY) |
|---|---|---|
| Return per year | 10.9% | 12.8% |
| Volatility | 22.1% | 17.1% |
| Worst drop | −32.3% | −24.5% |
| Sharpe ratio | 0.58 | 0.79 |
| Sortino ratio | 0.82 | 1.15 |
| Calmar ratio | 0.34 | 0.52 |
Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.
Is MTUM above its 200-day average?#
MTUM closed 2.0% above its 200-day average on October 16, 2026. A rule that holds MTUM only above that average would hold it today.
- vs 200-day average
- +2.0%
- above it
- 50-day vs 200-day
- +7.7%
- trend rising
- vs 52-week high
- −14.9%
- high of $344.53
A moving average is the average close over the last so many days. Trend rules such as the 10-month moving average strategy hold a fund only while it is above one. You can build that rule for MTUM and backtest it in a minute.
What was MTUM’s worst drop?#
A drawdown is how far a fund falls from its last high point. MTUM’s worst fall was −34.1%, from February 19, 2020 to March 23, 2020. It got back to that high on July 6, 2020. On October 16, 2026 it was 14.9% below its highest close.
| Drop | From the high | To the bottom | Back to the high |
|---|---|---|---|
| −34.1% | Feb 19, 2020 | Mar 23, 202033 days | Jul 6, 20203 months |
| −32.3% | Nov 3, 2021 | Jun 17, 20227 months | Mar 4, 202421 months |
| −22.1% | Oct 1, 2018 | Dec 24, 20183 months | Jun 18, 20196 months |
| −21.0% | Feb 18, 2025 | Apr 8, 20252 months | May 15, 202537 days |
| −18.0% | Jun 22, 2026 | Jul 29, 202637 days | Not yet |
Big drops are normal for some funds. They matter because selling during a drop locks in the loss.
What does MTUM hold?#
This fund owns large and medium sized US companies whose stock prices have been rising faster than others. Its list of companies changes as those price trends shift. Stocks that rose fast can also fall fast.
It tracks the MSCI USA Momentum SR Variant Index. It had 125 holdings as of October 15, 2026, according to iShares (BlackRock).
What is the MTUM expense ratio?#
MTUM charges 0.15% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.15% fee comes to about $15 a year. Of the 162 ETFs on Tactfolio, 42% charge more.
You never get a bill for it. The fund takes the fee out of its own value a little each day.
Which Tactfolio strategies hold MTUM?#
No classic strategy holds MTUM yet. You can add it to your own rules in the builder and see how they would have done.
How does MTUM compare with similar ETFs?#
Funds that can stand in for MTUM:
- QMOM: Alpha Architect U.S. Quantitative Momentum ETF, 0.28% a year
- PDP: Invesco Dorsey Wright Momentum ETF, 0.62% a year
- VUG: Vanguard Morningstar Growth ETF, 0.03% a year
- SCHG: Schwab U.S. Large-Cap Growth ETF, 0.04% a year
See all 8 MTUM alternatives, compared on the same dates as MTUM.
Test MTUM in your own rules#
Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add MTUM, and see how a rule such as “hold it only above its 200-day average” would have done. Strategies run on daily prices and hold US stocks and ETFs only.
The details#
Prices come from Tactfolio’s stored daily prices for MTUM and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.
Fund facts come from iShares (BlackRock). We checked them on October 17, 2026. Read what a backtest simulates and how to read drawdown and CAGR for more on these measures.
Common questions#
What is the expense ratio of MTUM?#
MTUM charges 0.15% a year, according to iShares (BlackRock) as of October 17, 2026. That is about $15 a year for every $10,000 you hold.
When did MTUM start trading?#
MTUM started trading on April 16, 2013. It is run by iShares (BlackRock).
What does MTUM track?#
MTUM tracks the MSCI USA Momentum SR Variant Index. This fund owns large and medium sized US companies whose stock prices have been rising faster than others.
How much has MTUM returned per year?#
From April 2013 to October 2026, MTUM returned about 15.2% a year with dividends reinvested. Its worst drop was −34.1%. Past returns do not tell you what it will do next.
Is MTUM above its 200-day moving average?#
On October 16, 2026, MTUM closed 2.0% above its 200-day moving average. This page updates after each US market close.
Which strategies use MTUM?#
None of Tactfolio’s classic strategies hold MTUM yet. You can test it in your own rules in the builder.