MTUM vs VTI: Correlation & Overlap
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and Vanguard Total Stock Market ETF (VTI) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong. By holdings, the two funds overlap 25.9% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and VTI?
On 3 years of weekly data the MTUM/VTI correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.77 versus 0.88 over 3 years. The 5-year figure is 0.86, and annualized covariance runs at 263.4 %².
Within MTUM's tracked universe of 109 assets, VTI comes in at #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +25.2% for MTUM and +20.7% for VTI. The rolling one-year correlation stayed in a tight band between 0.73 and 0.96 over the past three years, which points to a structural rather than episodic relationship.
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 VTI: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | VTI (Vanguard Total Stock Market ETF) | |
|---|---|---|
| 1-year return | +25.2% | +20.7% |
| 5-year return | +76.1% | +74.8% |
| Volatility (ann.) | 20.6% | 14.6% |
| Beta vs S&P 500 | 1.25 | 1.01 |
| Max drawdown (3Y) | -21.0% | -19.3% |
| Dividend yield | 0.62% | 1.06% |
| Expense ratio | 0.15% | 0.03% |
| Assets under management | $25.3B | $2,290.0B |
| Sector / category | ETF · US Style | ETF · US Large Cap |
MTUM, iShares's Large Blend fund, carries $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield. VTI, Vanguard's Large Blend fund, carries $2,290.0B under management, 3140 holdings, a 0.03% expense ratio, a 1.06% trailing dividend yield.
Portfolio overlap between MTUM and VTI
The two portfolios partially overlap, with 122 holdings in common adding up to 25.9% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in MTUM | Weight in VTI |
|---|---|---|
| AVGO | 4.25% | 2.56% |
| GOOGL | 2.44% | 2.91% |
| GOOG | 1.89% | 2.32% |
| MU | 6.60% | 1.29% |
| AMD | 5.09% | 1.08% |
| XOM | 3.78% | 0.90% |
| JNJ | 3.67% | 0.86% |
| WMT | 2.44% | 0.68% |
| CSCO | 2.43% | 0.57% |
| AMAT | 2.89% | 0.56% |
| CAT | 3.63% | 0.52% |
| CVX | 1.75% | 0.52% |
| LRCX | 3.26% | 0.51% |
| INTC | 3.91% | 0.50% |
| GS | 1.38% | 0.40% |
Largest positions held only by MTUM: NXPI (0.28%), RPRX (0.16%), IREN (0.09%), SN (0.07%). Only by VTI: NVDA (6.42%), AAPL (6.31%), MSFT (4.80%), AMZN (3.66%), META (1.70%).
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 | VTI |
|---|---|---|
| 2022 | -18.3% | -19.5% |
| 2023 | +9.1% | +26.0% |
| 2024 | +32.9% | +23.8% |
| 2025 | +22.1% | +17.1% |
| 2026 | +21.8% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and VTI good diversifiers for each other?
No. With a correlation of 0.88, MTUM and VTI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MTUM and VTI?
The MTUM/VTI correlation stands at 0.88 on a 3-year window (1 year: 0.77, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is VTI a good diversifier for MTUM?
No. With a correlation of 0.88, MTUM and VTI move nearly in lockstep, so holding both adds very little diversification.
How much do MTUM and VTI overlap?
25.9% by weight, across 122 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mtum-vs-vti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtum-vs-vti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTUM correlations · VTI correlations
