Dividend comparison
MTUM vs VFMO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares MSCI USA Momentum Factor ETF and Vanguard U.S. Momentum Factor ETF, side by side. Updated October 21, 2026.
MTUM vs VFMO: key differences
The short answer, from the latest data on this page.
- Fees. VFMO is cheaper at 0.13% a year versus 0.15% for MTUM. On $10,000 that is $2 a year less in fees.
- Income. Their trailing yields are almost the same: 0.63% for MTUM and 0.61% for VFMO. Both pay quarterly.
- Performance. Over the last 5 years, VFMO returned 70.5% versus 68.0% for MTUM, with dividends reinvested. $10,000 would have grown to $17,048 in VFMO and $16,798 in MTUM.
- Risk. MTUM has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -32.3%, against -25.8% for VFMO.
- Diversification. VFMO holds 638 positions and MTUM holds 125. The ten largest positions make up 37.1% of MTUM and 10.9% of VFMO.
- Overlap. At least 27% of the two portfolios overlap by weight, across 49 shared holdings.
- Dividend growth. MTUM grew its yearly payout 22.9% a year over the last 4 years, versus 10.0% for VFMO.
- Size. MTUM is the larger fund with $18.7 billion in assets, against $1.9 billion for VFMO.
Bottom line: MTUM fits better if you care most about faster dividend growth. VFMO fits better if you care most about stronger 5-year returns, smaller drawdowns and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | MTUM iShares MSCI USA Momentum Factor ETF | VFMO Vanguard U.S. Momentum Factor ETF |
|---|---|---|
| Dividend yield (TTM) | 0.63% | 0.61% |
| Dividend / share (TTM) | $1.85 | $1.36 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.6035 on Sep 18, 2026 | $0.3074 on Sep 25, 2026 |
| Ex-dividend date | Sep 15, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 22.9% over 4 yrs | 10.0% over 4 yrs |
| Price | $295.84 | $220.63 |
| Dividend growth streak | 1 year | 2 years |
| Beta | 1.24 | 1.32 |
| Max drawdown (5Y) | -32.3% | -25.8% |
| Market cap | $28.22B | $1.90B |
| Exchange | CBOE | CBOE |
| Expense ratio | 0.15% | 0.13% |
| Assets under management | $18.75B | $1.90B |
| Number of holdings | 125 | 638 |
| Top 10 concentration | 37.1% | 10.9% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
MTUM
$5.22/mo
$63 /yr at 0.63% yield
VFMO
$5.12/mo
$61 /yr at 0.61% yield
Dividend history
Total dividends paid per share in each calendar year. MTUM pays quarterly; VFMO pays quarterly.
| Year | MTUM | VFMO |
|---|---|---|
| 2025 | $2.2726 | $1.5700 |
| 2024 | $1.5482 | $1.1884 |
| 2023 | $2.1122 | $1.1663 |
| 2022 | $2.6197 | $1.9669 |
| 2021 | $0.9971 | $1.0724 |
Strategy: Factor and momentum
Rules-based funds that tilt toward a single trait linked to long-run returns, such as momentum, quality or low volatility. Momentum funds rebalance into recent winners, quality funds favor high profitability and strong balance sheets, and low-volatility funds pick the steadiest stocks. The same label can hide very different rules, so the index methodology matters more than the name.
Factor tilts go through long dry spells, and momentum funds can turn over quickly and get caught out when market leadership changes.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $16,798 in MTUM and $17,048 in VFMO.
| Period | MTUM | VFMO |
|---|---|---|
| 1 month | -4.45% | -2.94% |
| 3 months | -2.05% | -3.25% |
| Year to date | 18.66% | 15.36% |
| 1 year | 17.16% | 12.45% |
| 3 years | 119.37% | 107.63% |
| 5 years | 67.98% | 70.48% |
- MTUM
- VFMO
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- MTUM
- VFMO
MTUM vs VFMO holdings overlap
At least 27% overlap by weight, with 49 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | MTUM weight | VFMO weight |
|---|---|---|
| AMATAPPLIED MATERIAL INC | 2.68% | 1.22% |
| MUMICRON TECHNOLOGY | 4.94% | 1.21% |
| AMDADVANCED MICRO DEVICES | 5.90% | 1.15% |
| KLACKLA | 1.14% | 1.24% |
| INTCINTEL CORPORATION | 3.90% | 1.10% |
| LRCXLAM RESEARCH | 2.16% | 1.02% |
| WDCWESTERN DIGITAL CORP | 1.54% | 0.98% |
| SNDKSANDISK | 2.57% | 0.98% |
| MRVLMARVELL TECHNOLOGY | 1.99% | 0.96% |
| GEVGE VERNOVA | 1.50% | 0.84% |
Top 10 holdings
Largest positions by portfolio weight.
MTUM125 holdings total
Quick verdict
MTUM fits better if you care most about faster dividend growth. VFMO fits better if you care most about stronger 5-year returns, smaller drawdowns and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is MTUM or VFMO better for dividend income?
It depends on your goals. MTUM currently yields 0.63% Trailing Twelve Months (TTM) while VFMO yields 0.61%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between MTUM and VFMO?
iShares MSCI USA Momentum Factor ETF (MTUM) is an ETF listed on CBOE. Vanguard U.S. Momentum Factor ETF (VFMO) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, MTUM or VFMO?
VFMO has the lower expense ratio. MTUM charges 0.15% a year and VFMO charges 0.13%, a difference of $2 a year on a $10,000 investment.
Which has performed better, MTUM or VFMO?
Over the last 5 years, VFMO has the higher total return with dividends reinvested: MTUM returned 68.0% and VFMO returned 70.5%. Past performance does not predict future returns.
Which is riskier, MTUM or VFMO?
Measured by the worst peak-to-trough decline over the last five years, MTUM has been riskier: MTUM fell as much as 32.3% and VFMO as much as 25.8%. Their betas are 1.24 and 1.32.
How much do MTUM and VFMO overlap?
At least 27% of the two portfolios overlap by weight, across 49 shared holdings. The largest shared positions are AMAT, MU, AMD. Holding both still adds meaningful diversification.
How often do MTUM and VFMO pay dividends?
Both pay quarterly. The most recent payments were $0.6035 for MTUM and $0.3074 for VFMO.
How much income does $10,000 in MTUM vs VFMO generate?
At current TTM yields, $10,000 in MTUM would generate roughly $5.22 per month ($63 annually). The same amount in VFMO would produce about $5.12 per month ($61 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both MTUM and VFMO?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare MTUM vs VFMO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how MTUM and VFMO fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.