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MTUM vs THRO: Differences, Returns & Fees

MTUM and THRO hold 33% of their weight in the same names, and MTUM returned +25.8% over the year. Net assets on Oct 9, 2026: $20.3bn for iShares MSCI USA Momentum Factor ETF and $7.5bn for iShares U.S. Thematic Rotation Active ETF.

MTUM costs 0.42 points a year less; their one-year returns differ by 7.5 points; MTUM is 2.7 times larger.

MTUM vs THRO: Differences, Returns & Fees
MTUMTHRO
Expense ratio0.15%0.57%
Net assets$20.3bn$7.5bn
Total return, 1 year+25.8%+18.3%
What it tracksMSCI USA Momentum SR Variant IndexNo index, actively managed
Holdings in common33%
Top ten holdings, share of the fund36.1%43.5%
Below its high7.1%, high on Jun 22, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+25.8%
MTUM total return, 1 year
+18.3%
THRO total return, 1 year
0.15%
MTUM expense ratio
0.57%
THRO expense ratio

What they hold in common

By the books each fund has filed, MTUM and THRO hold 33% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 9, 2026.

half

33% in common

Positions both hold, largest shared weight first
Holding MTUM THRO
ALPHABET CLASS A 2.69% 3.85%
EXXONMOBIL HOLDINGS CORP 2.60% 2.56%
MICRON TECHNOLOGY 5.19% 2.48%
JOHNSON & JOHNSON 3.14% 2.04%
CATERPILLAR INC 2.02% 2.15%
ADVANCED MICRO DEVICES 6.16% 1.90%
ALPHABET CLASS C 2.12% 1.90%
CISCO SYSTEMS INC 3.63% 1.64%
APPLIED MATERIAL INC 3.03% 1.52%
CHEVRON 1.43% 1.37%
INTEL CORPORATION 4.09% 1.28%
PALO ALTO NETWORKS 2.81% 0.72%
Only in MTUM
WELLTOWER 0.89%
ANALOG DEVICES 0.86%
PHILLIPS 66 0.74%
DATADOG INC CLASS A 0.71%
BANK OF NEW YORK MELLON CORP 0.66%
CVS HEALTH 0.64%
CSX 0.61%
CONOCOPHILLIPS 0.60%
Only in THRO
NVIDIA 8.35%
APPLE 8.22%
MICROSOFT 6.41%
AMAZON.COM INC 4.63%
JPMORGAN CHASE & CO 2.57%
WALMART 2.32%
BROADCOM INC 2.13%
VISA CLASS A 2.01%

Check overlap with more funds →

On the same fields

MTUM
iShares MSCI USA Momentum Factor ETF
THRO
iShares U.S. Thematic Rotation Active ETF
Where it sits Stock ETF Stock ETF
Issuer iShares iShares
What it is Tracks the MSCI USA Momentum Factor Actively managed
Total return, 1 year +25.8% +18.3%
Its benchmark over the same days not published +17.3% (VOO)
Gap to its benchmark not available +1.0 pts vs VOO
Expense ratio 0.15% 0.57%
Already in the S&P 500 93.2% 92.8%
Holdings 126 247
Net assets $20.3bn $7.5bn

MTUM and THRO on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About MTUM

MTUM tracks the MSCI USA Momentum Factor. Over the year to Oct 9, 2026 it returned +25.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 9, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 126 positions, with the top ten at 36.1%. It sat 7.1% below its high of Jun 22, 2026 on Oct 9, 2026.

About THRO

THRO is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +18.3% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 9, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 247 positions, with the top ten at 43.5%.

Questions people ask

Which returned more over the last year, MTUM or THRO?
In the year to Oct 9, 2026, with distributions reinvested, MTUM returned +25.8% and THRO +18.3%.
Which is cheaper, MTUM or THRO?
MTUM is cheaper, by 0.42 percentage points a year. That is about $42 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do MTUM and THRO overlap with the S&P 500?
By their latest filed holdings, 93% of MTUM and 93% of THRO by weight is stocks the S&P 500 already holds.
Other comparisons
MTUM vs TCAFBLCR vs MTUMMTUM vs PBUSMTUM vs SUSACGDV vs THROOEF vs THRODFUS vs THROSPHQ vs THRO
MTUM on its own →THRO on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
MTUM filings on SEC EDGAR ↗MTUM prospectus with the expense ratio (SEC) ↗iShares page for MTUM ↗THRO filings on SEC EDGAR ↗THRO prospectus with the expense ratio (SEC) ↗iShares page for THRO ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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.

Cite this pageCitation, APA and Markdown

ETFIQ, MTUM against THRO, data as of Oct 9, 2026. https://etfiq.com/compare/any/mtum-vs-thro

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.