MTUM

iShares MSCI USA Momentum Factor ETF

The iShares MSCI USA Momentum Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks exhibiting relatively higher momentum characteristics, before fees and expenses.


US

EQUITY

Rules-Based

MANAGEMENT STYLE

15 bp

EXPENSES

$10.5 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsoriShares/USA
CategoryUS
Asset classEquity
Websitelink...
Inception dateApr 16, 2013
Assets (mns)$10,506
Expense ratio15 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMomentum
WeightingMomentum
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
NVIDIA CORP 6.8 %
BROADCOM INC. 6.2 %
ELI LILLY & CO 5.6 %
JPMORGAN CHASE & CO 4.7 %
AMAZON.COM INC 4.4 %
META PLATFORMS INC 4.3 %
COSTCO WHOLESALE CORP 3.2 %
GENERAL ELECTRIC COMPANY 2.9 %
ADVANCED MICRO DEVICES 2.6 %
NETFLIX INC 2.4 %
Constituent Breakdown
Number of holdings124
Herfindahl-Hirschman Index 273
Wgt avg mkt cap (mns)$385,549
Large cap (>$10bn)99.8%
Mid cap ($2-10bn)0.1%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 95.9 %
IRELAND 3.0 %
NETHERLANDS 0.6 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 24.4% 36.5% 21.5% 5.4% 11.8% 13.3% 14.0%
Volatility 18.6% 15.7% 16.3% 19.4% 23.5% 19.7% --
Market Correlations
versus...BetaR-squared
S&P 5000.9576%
MSCI EAFE0.8152%
MSCI Emg Mkts0.5020%
Liquidity Measures
Avg. volume (000)563
Turnover1.0%
Avg. Bid/Ask (% of price)0.02%
ADV of underlying (mns)$204,773
Technical Indicators
Recent close$194.38
30d moving avg.$196.71
Annualized volatility19.6%
Relative strength (RSI)60
Short interest (ETF)5.2%
Short interest (underlying)2.4%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: MTUM vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Book value per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
2.9 23.9 4.4 0.8% --
Based on closing prices from 7/22/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
MTUM



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

MTUM

3.8%

Cat. Avg

5.6%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™3.8%
Recommendation

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.6% and a standard deviation of 2.4%. MTUM's ALTAR Score™ is approximately 0.8 standard deviations below the category average. This places MTUM in the 22nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
MTUM
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Rules-Based
US Equity ETFs
# of ETFs 609
Avg. Expense Ratio 46.6 bp
Std. Deviation 32.9 bp
MTUM (15 bp) Percentile rank 17
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
MTUM 15.0 2.4 17.4
Peer Avg. 36.9 15.0 51.8
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .