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
$10.0 B
ASSETS UNDER MGMT
Fund Basics
Fund sponsor | iShares/USA |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Apr 16, 2013 |
Assets (mns) | $10,032 |
Expense ratio | 15 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Momentum |
Weighting | Momentum |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
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 holdings | 124 |
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)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
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... | Beta | R-squared |
S&P 500 | 0.95 | 76% |
MSCI EAFE | 0.81 | 52% |
MSCI Emg Mkts | 0.50 | 20% |
Liquidity Measures
Avg. volume (000) | 638 |
Turnover | 1.2% |
Avg. Bid/Ask (% of price) | 0.02% |
ADV of underlying (mns) | $204,773 |
Technical Indicators
Recent close | $185.61 |
30d moving avg. | $196.71 |
Annualized volatility | 19.6% |
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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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. MTUM |
Expenses vs. MTUM |
ALTAR Score™ vs. MTUM |
---|---|---|---|---|
SPMO | Invesco S&P 500 Momentum ETF | 52.4% | -2 bp | -0.1% |
PALC | Pacer Lunt Large Cap Multi-Factor Alternator ETF | 50.7% | +45 bp | +0.2% |
AMOM | Qraft AI-Enhanced U.S. Large Cap Momentum ETF | 48.2% | +60 bp | -0.4% |
FDMO | Fidelity Momentum Factor ETF | 46.7% | 0 bp | +0.3% |
JGRO | JPMorgan Active Growth ETF | 43.4% | +29 bp | -0.4% |
DYNF | BlackRock U.S. Equity Factor Rotation ETF | 43.2% | +15 bp | +0.8% |
MMTM | SPDR S&P 1500 Momentum Tilt ETF | 42.0% | -3 bp | +0.8% |
PWB | Invesco Large Cap Growth ETF | 41.4% | +41 bp | -0.5% |
OMFL | Invesco Russell 1000 Dynamic Multifactor ETF | 40.8% | +14 bp | +5.9% |
JMOM | JPMorgan U.S. Momentum Factor ETF | 40.7% | -3 bp | +0.9% |
Risk and Returns: MTUM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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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 | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
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
4.0%
Cat. Avg
5.7%
Fund Category: US
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 4.0% |
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 5.7% and a standard deviation of
2.4%. MTUM's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places MTUM in the 24th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MTUM
Peer Average
Recent Trends
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 .