MTUM vs VT: Correlation & Overlap
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and Vanguard Total World Stock ETF (VT) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong. Looking through to holdings, 17.5% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and VT?
On 3 years of weekly data the MTUM/VT correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.85 over 3. The 5-year figure is 0.84, and annualized covariance runs at 243.4 %².
Among the 109 assets we track against MTUM, VT ranks #13 by 3-year correlation. Twelve-month performance is nearly a tie, at +25.2% for MTUM and +22.7% for VT. The link looks structural: the rolling one-year correlation barely moved, holding between 0.73 and 0.93.
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 VT: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | VT (Vanguard Total World Stock ETF) | |
|---|---|---|
| 1-year return | +25.2% | +22.7% |
| 5-year return | +76.1% | +67.7% |
| Volatility (ann.) | 20.6% | 13.9% |
| Beta vs S&P 500 | 1.25 | 0.92 |
| Max drawdown (3Y) | -21.0% | -16.5% |
| Dividend yield | 0.62% | 1.59% |
| Expense ratio | 0.15% | 0.06% |
| Assets under management | $25.3B | $97.9B |
| Sector / category | ETF · US Style | ETF · Global |
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. VT is a Global Large-Stock Blend fund from Vanguard: $97.9B under management, 5308 holdings, a 0.06% expense ratio, a 1.59% trailing dividend yield.
Portfolio overlap between MTUM and VT
The two portfolios partially overlap. Weighing the shared positions, 17.5% of the two funds is identical, spread across 126 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in MTUM | Weight in VT |
|---|---|---|
| GOOGL | 2.44% | 1.89% |
| AVGO | 4.25% | 1.62% |
| GOOG | 1.89% | 1.49% |
| MU | 6.60% | 0.83% |
| AMD | 5.09% | 0.69% |
| XOM | 3.78% | 0.58% |
| JNJ | 3.67% | 0.55% |
| WMT | 2.44% | 0.44% |
| CSCO | 2.43% | 0.41% |
| AMAT | 2.89% | 0.36% |
| INTC | 3.91% | 0.35% |
| CAT | 3.63% | 0.33% |
| LRCX | 3.26% | 0.33% |
| CVX | 1.75% | 0.33% |
| GS | 1.38% | 0.25% |
Largest positions held only by MTUM: . Only by VT: NVDA (4.20%), AAPL (4.00%), MSFT (3.09%), AMZN (2.36%), 2330 (1.61%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | MTUM | VT |
|---|---|---|
| 2022 | -18.3% | -18.0% |
| 2023 | +9.1% | +22.0% |
| 2024 | +32.9% | +16.5% |
| 2025 | +22.1% | +22.4% |
| 2026 | +21.8% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and VT good diversifiers for each other?
No: a correlation of 0.85 means MTUM and VT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between MTUM and VT?
The MTUM/VT correlation stands at 0.85 on a 3-year window (1 year: 0.79, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is VT a good diversifier for MTUM?
No: a correlation of 0.85 means MTUM and VT tend to fall together, which is precisely when diversification is supposed to help.
How much do MTUM and VT overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 17.5% by weight over 126 common positions.
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Hubs: MTUM correlations · VT correlations
