IBB vs MTUM: Correlation & Overlap
iShares Biotechnology ETF (IBB) and iShares MSCI USA Momentum Factor ETF (MTUM) show a moderate relationship: their 3-year correlation of weekly returns is 0.37. By holdings, the two funds overlap 0.5% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and MTUM?
Over the past 3 years, IBB and MTUM moved with a correlation of 0.37, which is moderate. The past 12 months show a weaker link (0.11) than the 3-year average (0.37). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 159.3 %².
By 3-year correlation, MTUM places #153 of the 168 assets tracked against IBB. The last year tells two different stories: IBB led by 30.2 percentage points, +55.4% for IBB against +25.2% for MTUM. This link changes with the market regime, having swung between 0.12 and 0.67 on a rolling one-year basis.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IBB vs MTUM: side by side
| IBB (iShares Biotechnology ETF) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +55.4% | +25.2% |
| 5-year return | +26.6% | +76.1% |
| Volatility (ann.) | 20.7% | 20.6% |
| Beta vs S&P 500 | 0.81 | 1.25 |
| Max drawdown (3Y) | -24.9% | -21.0% |
| Dividend yield | 0.22% | 0.62% |
| Expense ratio | 0.44% | 0.15% |
| Assets under management | $9.2B | $25.3B |
| Sector / category | ETF · Thematic | ETF · US Style |
IBB, iShares's Health fund, carries $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield. MTUM is a Large Blend fund from iShares: $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Portfolio overlap between IBB and MTUM
The two portfolios are largely distinct: 0.5% of the funds' weight sits in the same underlying holdings (3 common positions). Correlation tells you they move together; overlap tells you why.
Largest positions held only by IBB: AMGN (8.43%), VRTX (7.89%), GILD (7.10%), REGN (5.68%), MRNA (3.76%). Only by MTUM: MU (6.60%), AMD (5.09%), AVGO (4.25%), INTC (3.91%), XOM (3.78%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 3 common positions shown.
Year-by-year returns
| Year | IBB | MTUM |
|---|---|---|
| 2022 | -13.7% | -18.3% |
| 2023 | +3.8% | +9.1% |
| 2024 | -2.4% | +32.9% |
| 2025 | +28.0% | +22.1% |
| 2026 | +27.4% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and MTUM good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IBB and MTUM?
The IBB/MTUM correlation stands at 0.37 on a 3-year window (1 year: 0.11, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for IBB?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
How much do IBB and MTUM overlap?
0.5% by weight, across 3 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ibb-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibb-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · MTUM correlations
