MTUM vs VSEC: Correlation
iShares MSCI USA Momentum Factor ETF (MTUM) and VSE Corporation (VSEC) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and VSEC?
Across a 3-year window, the weekly returns of MTUM and VSEC correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 478.6 %².
Within MTUM's tracked universe of 109 assets, VSEC comes in at #79 by 3-year correlation. On 12-month performance VSEC holds a 9.0-point edge, +25.2% against +34.2%. Note the risk asymmetry: VSEC runs 2.2 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.
MTUM vs VSEC: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | VSEC (VSE Corporation) | |
|---|---|---|
| 1-year return | +25.2% | +34.2% |
| 5-year return | +76.1% | +365.5% |
| Volatility (ann.) | 20.6% | 44.9% |
| Beta vs S&P 500 | 1.25 | 1.52 |
| Max drawdown (3Y) | -21.0% | -30.3% |
| Market cap | – | $6.2B |
| P/E (trailing) | – | 72.5 |
| Dividend yield | 0.62% | 0.18% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | US Listed |
On the fund side, MTUM sits in the Large Blend category at iShares, with $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MTUM | VSEC |
|---|---|---|
| 2022 | -18.3% | -22.4% |
| 2023 | +9.1% | +38.9% |
| 2024 | +32.9% | +47.9% |
| 2025 | +22.1% | +82.3% |
| 2026 | +21.8% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and VSEC good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MTUM and VSEC?
As of 2026-08-27, the correlation of weekly returns between MTUM and VSEC is 0.52 over 3 years, 0.55 over 1 year and 0.52 over 5 years.
Is VSEC a good diversifier for MTUM?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mtum-vs-vsec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtum-vs-vsec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTUM correlations · VSEC correlations
