MTUM vs VST: Correlation
iShares MSCI USA Momentum Factor ETF (MTUM) and Vistra Corp. (VST) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and VST?
On 3 years of weekly data the MTUM/VST correlation comes out at 0.55, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.55). The 5-year figure is 0.49, and annualized covariance runs at 597.5 %².
Within MTUM's tracked universe of 109 assets, VST comes in at #71 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTUM ahead by 53.0 points (+25.2% versus -27.8%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.00 and 0.74 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: VST runs 2.6 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.
MTUM vs VST: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | VST (Vistra Corp.) | |
|---|---|---|
| 1-year return | +25.2% | -27.8% |
| 5-year return | +76.1% | +713.7% |
| Volatility (ann.) | 20.6% | 52.8% |
| Beta vs S&P 500 | 1.25 | 1.62 |
| Max drawdown (3Y) | -21.0% | -48.8% |
| Market cap | – | $46.9B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.62% | 0.65% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | Utilities |
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 | MTUM | VST |
|---|---|---|
| 2022 | -18.3% | +5.1% |
| 2023 | +9.1% | +70.7% |
| 2024 | +32.9% | +261.5% |
| 2025 | +22.1% | +17.7% |
| 2026 | +21.8% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and VST good diversifiers for each other?
Only partially. A correlation of 0.55 means MTUM and VST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MTUM and VST?
The MTUM/VST correlation stands at 0.55 on a 3-year window (1 year: 0.40, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is VST a good diversifier for MTUM?
Only partially. A correlation of 0.55 means MTUM and VST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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.
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Related comparisons
Hubs: MTUM correlations · VST correlations
