IBKR vs MTUM: Correlation
Measured on weekly returns over the past three years, Interactive Brokers (IBKR) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBKR and MTUM?
On 3 years of weekly data the IBKR/MTUM correlation comes out at 0.61, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 424.0 %².
Few assets follow IBKR as closely as MTUM, which ranks #2 of 32 tracked partners. The last year tells two different stories: IBKR led by 31.8 percentage points, +57.0% for IBKR against +25.2% for MTUM. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.13 to 0.79. Note the risk asymmetry: IBKR runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IBKR vs MTUM: side by side
| IBKR (Interactive Brokers) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +57.0% | +25.2% |
| 5-year return | +516.0% | +76.1% |
| Volatility (ann.) | 33.9% | 20.6% |
| Beta vs S&P 500 | 1.37 | 1.25 |
| Max drawdown (3Y) | -38.7% | -21.0% |
| Market cap | $164.5B | – |
| P/E (trailing) | 38.5 | – |
| Dividend yield | 0.34% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Financials | ETF · US Style |
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.
Year-by-year returns
| Year | IBKR | MTUM |
|---|---|---|
| 2022 | -8.4% | -18.3% |
| 2023 | +15.1% | +9.1% |
| 2024 | +114.4% | +32.9% |
| 2025 | +46.4% | +22.1% |
| 2026 | +50.4% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
IBKR represents 0.17% of MTUM's portfolio, so part of any move in MTUM is IBKR itself, and the correlation between them is partly mechanical.
Are IBKR and MTUM good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IBKR and MTUM?
As of 2026-08-27, the correlation of weekly returns between IBKR and MTUM is 0.61 over 3 years, 0.61 over 1 year and 0.57 over 5 years.
Is MTUM a good diversifier for IBKR?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: IBKR correlations · MTUM correlations
