# MTUM ETF: fees, returns, drawdowns and holdings

> What MTUM holds, its 0.15% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

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](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.15% a year (about $15 on $10,000).
- Started trading on April 16, 2013.
- Worst drop since 2013: −34.1%.
- No Tactfolio classic strategies hold it.

## 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).

| Fact | MTUM |
| --- | --- |
| Full name | iShares MSCI USA Momentum Factor ETF |
| Issuer | iShares (BlackRock) |
| Expense ratio | 0.15% a year |
| Started trading | April 16, 2013 |
| Tracks | MSCI USA Momentum SR Variant Index |
| Type | US stocks, ETF |
| Holdings | 125 holdings as of October 15, 2026 |
| Facts checked | October 17, 2026 on the [iShares (BlackRock) fund page](https://www.ishares.com/us/products/251614/ishares-msci-usa-momentum-factor-etf) |

## 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.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## How has MTUM done since 2013?

From April 2013 to October 2026, MTUM returned about 15.2% a year. Say you put in $10,000 at the start. It would have been worth about $67,386 at the end, with every dividend reinvested.

| Measure | MTUM |
| --- | --- |
| Total return | 573.9% |
| Return per year (CAGR) | 15.2% |
| Worst drop from a high | −34.1% |
| Volatility (how much it swings) | 20.2% |
| Last 12 months | 16.7% |
| Last 3 years, per year | 28.2% |
| Last 5 years, per year | 11.0% |
| Last 10 years, per year | 15.8% |

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 year

| Year | MTUM return |
| --- | --- |
| 2026 (part of the year) | 17.6% |
| 2025 | 22.1% |
| 2024 | 32.9% |
| 2023 | 9.2% |
| 2022 | −18.3% |
| 2021 | 13.4% |
| 2020 | 29.9% |
| 2019 | 27.3% |
| 2018 | −1.7% |
| 2017 | 37.5% |
| 2016 | 5.0% |
| 2015 | 8.9% |
| 2014 | 14.6% |
| 2013 (part of the year) | 19.2% |

## 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.

The chart shows how far below its last high the fund was on each day. Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## Which Tactfolio strategies hold MTUM?

No classic strategy holds MTUM yet. You can add it to your own rules in the [builder](https://tactfolio.com/builder) and see how they would have done.

## How does MTUM compare with similar ETFs?

Funds that can stand in for MTUM:

- [QMOM](https://tactfolio.com/etf/qmom.md): Alpha Architect U.S. Quantitative Momentum ETF, 0.28% a year
- [PDP](https://tactfolio.com/etf/pdp.md): Invesco Dorsey Wright Momentum ETF, 0.62% a year
- [VUG](https://tactfolio.com/etf/vug.md): Vanguard Morningstar Growth ETF, 0.03% a year
- [SCHG](https://tactfolio.com/etf/schg.md): Schwab U.S. Large-Cap Growth ETF, 0.04% a year

See [all 8 MTUM alternatives](https://tactfolio.com/alternatives/mtum.md), 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](https://tactfolio.com/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. 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.

Fund facts come from iShares (BlackRock). We checked them on October 17, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## 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.

### Which strategies use MTUM?

None of Tactfolio's classic strategies hold MTUM yet. You can test it in your own rules in the builder.

## Sources

- [iShares (BlackRock): iShares MSCI USA Momentum Factor ETF fund page](https://www.ishares.com/us/products/251614/ishares-msci-usa-momentum-factor-etf)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.