MTUM vs VRT: Correlation
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and Vertiv (VRT) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and VRT?
On 3 years of weekly data the MTUM/VRT correlation comes out at 0.69, strong. The link has loosened recently: the 1-year correlation (0.51) runs below the 3-year figure (0.69). The 5-year figure is 0.54, and annualized covariance runs at 808.0 %².
Within MTUM's tracked universe of 109 assets, VRT comes in at #32 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VRT ahead by 83.3 points (+25.2% versus +108.5%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.13 and 0.82 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: VRT is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MTUM vs VRT: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | VRT (Vertiv) | |
|---|---|---|
| 1-year return | +25.2% | +108.5% |
| 5-year return | +76.1% | +847.7% |
| Volatility (ann.) | 20.6% | 57.1% |
| Beta vs S&P 500 | 1.25 | 2.36 |
| Max drawdown (3Y) | -21.0% | -61.3% |
| Market cap | – | $103.7B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.62% | 0.07% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | Industrials |
MTUM, iShares's Large Blend fund, carries $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MTUM | VRT |
|---|---|---|
| 2022 | -18.3% | -45.3% |
| 2023 | +9.1% | +251.8% |
| 2024 | +32.9% | +136.8% |
| 2025 | +22.1% | +42.8% |
| 2026 | +21.8% | +66.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that MTUM holds VRT at a 0.7% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MTUM and VRT good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MTUM and VRT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.51 over the last year and 0.54 over 5 years.
Is VRT a good diversifier for MTUM?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 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
$ curl https://www.pairbook.io/api/v1/pairs/mtum-vs-vrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtum-vs-vrt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTUM correlations · VRT correlations
