Data as of Oct 28, 2026.
ACWI vs MTUM: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWI returned +13.4% to MTUM's +18.4%; 18% of their weight is in the same names.
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Net assets: $33.0bn on Oct 28, 2026 for iShares MSCI ACWI ETF, and $18.7bn on Oct 27, 2026 for iShares MSCI USA Momentum Factor ETF.
Pair scorecard
MTUM costs 0.17 points a year less; their one-year returns differ by 5.0 points; ACWI is 1.8 times larger.
| Measure | ACWI | MTUM |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.4% | +18.4% |
| Drawdown | ||
| Below its high | 11.9%, high on Jun 22, 2026 | |
| Benchmark | ||
| What it tracks | MSCI ACWI | MSCI USA Momentum SR Variant Index |
| Cost and size | ||
| Expense ratio | 0.32% | 0.15% |
| Net assets, as of Oct 26, 2026 | $32.6bn | $18.4bn |
| Holdings | ||
| Holdings in common | 18% | |
| Top ten holdings, share of the fund | 24.9% | 35.5% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 26, 2013 to Oct 23, 2026 · 704 weekly returnsMTUM returned more: +554.7% to +296.9%. ACWI swung less: 15.5% to 19.0%. ACWI and MTUM fell about the same at their worst: −32.1% and −31.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWI | MTUM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +296.9% | +554.7% | MTUM | Price change plus distributions, reinvested. |
| Annualized | +10.7% | +14.9% | MTUM | Total return as a yearly rate. |
| Price return | +204.3% | +459.1% | MTUM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 15.5% | 19.0% | ACWI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.9% | 13.0% | ACWI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −32.1% | −31.9% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.61 | 0.73 | MTUM | Return above Treasury bills per unit of volatility. |
| Sortino | 0.87 | 1.07 | MTUM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.33 | 0.47 | MTUM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 704 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWI and MTUM hold 18% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
18% in common
Only in one fund ↓
Side by side
ACWI and MTUM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWI and MTUM do different jobs. What does each one do in a portfolio?
- What each follows. ACWI follows MSCI ACWI and MTUM follows MSCI USA Momentum SR Variant Index.
- Holdings in common. 18% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ACWI returned +13.4% and MTUM +18.4% with distributions reinvested, a gap of 5.0 points.
Data as of Oct 28, 2026.
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ACWI
ACWI tracks the MSCI ACWI. Over the year to Oct 28, 2026 it returned +13.4% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 61% of the fund by weight is stocks the S&P 500 also holds, across 2,197 positions, with the top ten at 24.9%.
MTUM
MTUM tracks the MSCI USA Momentum Factor. Over the year to Oct 28, 2026 it returned +18.4% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 126 positions, with the top ten at 35.5%. It sat 11.9% below its high of Jun 22, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ACWI or MTUM?
- In the year to Oct 28, 2026, with distributions reinvested, ACWI returned +13.4% and MTUM +18.4%.
- Which is cheaper, ACWI or MTUM?
- MTUM is cheaper, by 0.17 percentage points a year. That is about $17 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWI against MTUM, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwi-vs-mtum
ETFIQ. (Oct 28, 2026). ACWI against MTUM. Retrieved from https://etfiq.com/compare/any/acwi-vs-mtum
[ACWI against MTUM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwi-vs-mtum)
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