Which returned more over the last year, MTUM or USMV?

In the year to Oct 28, 2026, with distributions reinvested, MTUM returned +18.4% and USMV +10.8%.

Which is cheaper, MTUM or USMV?

Neither: MTUM and USMV both charge 0.15% a year. Fees come from each fund's prospectus.

How much do MTUM and USMV overlap with the S&P 500?

By their latest filed holdings, 93% of MTUM and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

MTUM vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, MTUM returned +18.4% to USMV's +10.8%; 24% of their weight is in the same names.

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Net assets on Oct 27, 2026: $18.7bn for iShares MSCI USA Momentum Factor ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.

MTUM on its own →USMV on its own →

At a glance

+18.4%

MTUM total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

MTUM expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 7.6 points; USMV is 1.3 times larger.

Points (pts) are percentage points.

MTUM vs USMV: Differences, Returns & Fees
Measure	MTUM	USMV
Return
Measure	MTUM	USMV
Total return, 1 year	+18.4%	+10.8%
Drawdown
Measure	MTUM	USMV
Below its high	11.9%, high on Jun 22, 2026
Benchmark
Measure	MTUM	USMV
What it tracks	MSCI USA Momentum SR Variant Index	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	MTUM	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$18.7bn	$24.1bn
Holdings
Measure	MTUM	USMV
Holdings in common	24%
Top ten holdings, share of the fund	35.5%	14.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Apr 26, 2013 to Oct 23, 2026 · 704 weekly returns

MTUM USMV

Return

Total return edge MTUM +554.7% +296.5%

Annualized edge MTUM +14.9% +10.7%

Price return edge MTUM +459.1% +207.6%

Risk

Volatility edge USMV 19.0% 13.7%

Max drawdown edge USMV (slight) −31.9% −30.6%

Risk-adjusted

Sharpe edge MTUM (slight) 0.73 0.68

Sortino edge MTUM 1.07 0.96

Calmar edge MTUM 0.47 0.35

Reading

MTUM returned more: +554.7% to +296.5%. USMV swung less: 13.7% to 19.0%. USMV fell slightly less at its worst: −30.6% to −31.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: MTUM vs USMV: Differences, Returns & Fees
Measure	MTUM	USMV	Edge	How it is measured
Return
Total return	+554.7%	+296.5%	MTUM	Price change plus distributions, reinvested.
Annualized	+14.9%	+10.7%	MTUM	Total return as a yearly rate.
Price return	+459.1%	+207.6%	MTUM	Price change alone, distributions left out.
Risk
Volatility	19.0%	13.7%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	13.0%	9.7%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−31.9%	−30.6%	USMV (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.73	0.68	MTUM (slight)	Return above Treasury bills per unit of volatility.
Sortino	1.07	0.96	MTUM	Return above Treasury bills per unit of downside deviation.
Calmar	0.47	0.35	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

24%

By the books each fund has filed, MTUM and USMV hold 24% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

24% in common

Positions both hold · largest shared weight first MTUM USMV

EXXONMOBIL HOLDINGS CORP 2.96% 1.54%

JOHNSON & JOHNSON 3.45% 1.44%

MERCK & CO INC 1.81% 1.37%

CISCO SYSTEMS INC 3.64% 1.35%

COCA-COLA 1.98% 1.28%

WELLTOWER 0.96% 1.41%

FORTINET 1.05% 0.88%

ANALOG DEVICES 0.96% 0.79%

TEXAS INSTRUMENT 1.43% 0.79%

ADVANCED MICRO DEVICES 6.06% 0.77%

AMPHENOL CORP CLASS A 0.74% 1.47%

BANK OF NEW YORK MELLON CORP 0.73% 0.91%

Only in one fund ↓

Only in MTUM

INTEL CORPORATION 3.92%

ALPHABET CLASS A 2.62%

CATERPILLAR INC 1.92%

DELL TECHNOLOGIES INC CLASS C 1.89%

VALERO ENERGY CORP 1.11%

KLA 1.04%

UNION PACIFIC 1.03%

GOLDMAN SACHS GROUP 1.00%

Only in USMV

MICROSOFT 1.61%

BERKSHIRE HATHAWAY INC CLASS B 1.50%

CHUBB 1.50%

MOTOROLA SOLUTIONS INC 1.48%

NVIDIA 1.47%

MCKESSON CORP 1.43%

DUKE ENERGY CORP 1.38%

WASTE MANAGEMENT INC 1.38%

Check overlap with more funds →

Side by side

MTUM iShares MSCI USA Momentum Factor ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer iShares iShares

What it is Tracks the MSCI USA Momentum Factor Tracks the MSCI USA Min Vol Factor

Total return, 1 year +18.4% +10.8%

Its benchmark over the same days +13.6% (MLRG) not measured

Gap to its benchmark +4.8 pts vs MLRG not measured

Expense ratio 0.15% 0.15%

Already in the S&P 500 93.2% 93.0%

Holdings 126 176

Net assets, as of Oct 27, 2026 $18.7bn $24.1bn

MTUM and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-17FA5AD0F1

MTUM and USMV are built for the same job. How do they differ in cost, holdings and results?

What each follows. MTUM follows MSCI USA Momentum SR Variant Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 24% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 MTUM returned +18.4% and USMV +10.8% with distributions reinvested, a gap of 7.6 points.

Data as of Oct 28, 2026.

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About each fund

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.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. 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 176 positions, with the top ten at 14.8%.

Questions people ask

Which returned more over the last year, MTUM or USMV?: In the year to Oct 28, 2026, with distributions reinvested, MTUM returned +18.4% and USMV +10.8%.
Which is cheaper, MTUM or USMV?: Neither: MTUM and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do MTUM and USMV overlap with the S&P 500?: By their latest filed holdings, 93% of MTUM and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

MTUM vs SPMO DGRW vs MTUM GSLC vs MTUM AVUS vs MTUM AVUS vs USMV USMV vs VV USMV vs VIG BDYN vs USMV

Where to next

MTUM on its own →USMV on its own →Hold both: look the portfolio through →Rankings →MTUM dividend history →MTUM holdings →USMV dividend history →USMV holdings →Standards and sources →

Sources and dates

MTUM and USMV filings on SEC EDGAR ↗

MTUM and USMV prospectus with the expense ratio (SEC) ↗

iShares page for MTUM ↗

iShares page for USMV ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, MTUM against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/mtum-vs-usmv

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