Data as of Oct 28, 2026.
IWD vs MTUM: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWD returned +27.5% to MTUM's +18.4%; 21% of their weight is in the same names.
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Net assets on Oct 27, 2026: $83.0bn for iShares Russell 1000 Value ETF and $18.7bn for iShares MSCI USA Momentum Factor ETF.
Pair scorecard
MTUM costs 0.03 points a year less; their one-year returns differ by 9.1 points; IWD is 4.4 times larger.
| Measure | IWD | MTUM |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.5% | +18.4% |
| Drawdown | ||
| Below its high | 11.9%, high on Jun 22, 2026 | |
| Benchmark | ||
| What it tracks | Russell 1000 Value Index | MSCI USA Momentum SR Variant Index |
| Cost and size | ||
| Expense ratio | 0.18% | 0.15% |
| Net assets, as of Oct 27, 2026 | $83.0bn | $18.7bn |
| Holdings | ||
| Holdings in common | 21% | |
| Top ten holdings, share of the fund | 29.6% | 35.5% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 26, 2013 to Oct 23, 2026 · 704 weekly returnsEach against its own benchmark: IWD against VONV, Oct 1, 2010 to Oct 23, 2026; MTUM against MLRG, Apr 26, 2013 to Oct 23, 2026.
MTUM returned more: +554.7% to +321.0%. IWD swung less: 15.9% to 19.0%. MTUM fell less at its worst: −31.9% to −35.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWD | MTUM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +321.0% | +554.7% | MTUM | Price change plus distributions, reinvested. |
| Annualized | +11.2% | +14.9% | MTUM | Total return as a yearly rate. |
| Price return | +214.7% | +459.1% | MTUM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 15.9% | 19.0% | IWD | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.3% | 13.0% | IWD | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.6% | −31.9% | MTUM | Deepest fall from a high to the low after it. |
| Upside capture | 100.0% | 106.2% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.2% | 101.7% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 1.02 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.76 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.63 | 0.73 | MTUM | Return above Treasury bills per unit of volatility. |
| Sortino | 0.89 | 1.07 | MTUM | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.110 | 0.135 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.31 | 0.47 | MTUM | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VONV | MLRG | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | +1.3% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.23 | 0.53 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.6% to +0.5% | −3.7% to +6.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.08 | 0.17 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.1% | 9.3% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
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, IWD and MTUM hold 21% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
21% in common
Only in one fund ↓
Side by side
IWD and MTUM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWD and MTUM do different jobs. What does each one do in a portfolio?
- What each follows. IWD follows Russell 1000 Value Index and MTUM follows MSCI USA Momentum SR Variant Index.
- Holdings in common. 21% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWD returned +27.5% and MTUM +18.4% with distributions reinvested, a gap of 9.1 points.
Data as of Oct 28, 2026.
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IWD
IWD tracks the Russell 1000 value. Over the year to Oct 28, 2026 it returned +27.5% with distributions reinvested, against +27.7% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 29.6%.
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, IWD or MTUM?
- In the year to Oct 28, 2026, with distributions reinvested, IWD returned +27.5% and MTUM +18.4%.
- Which is cheaper, IWD or MTUM?
- MTUM is cheaper, by 0.03 percentage points a year. That is about $3 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, IWD against MTUM, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwd-vs-mtum
ETFIQ. (Oct 28, 2026). IWD against MTUM. Retrieved from https://etfiq.com/compare/any/iwd-vs-mtum
[IWD against MTUM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwd-vs-mtum)
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