MMTM vs SIZE: Grades, Fees and Holdings Compared

State Street SPDR S&P 1500 Momentum Tilt ETF

MMTMBNYSE Arca

iShares MSCI USA Size Factor ETF

SIZEANYSE Arca

Overlap

34.4%by weight

Expense ratio

MMTM −0.03pt a year

MMTM0.12%SIZE0.15%

Avg volume · 30D

SIZE 2.0×the volume

MMTM2.58KSIZE5.21K

10Y return · a year

MMTM +2.2pt

MMTM+14.2%SIZE+12.0%

MMTM vs SIZE Performance

Oct 29, 2021 – Oct 30, 2026

+57.9%MMTM+43.6%SIZE

Expense ratio: MMTM 0.12%, better; SIZE 0.15%
Fund size: MMTM $130M; SIZE $433M
1Y total return: MMTM +1.1%; SIZE +13.8%, better
Yield (12M): MMTM 0.93%; SIZE 1.37%, better
Holdings: MMTM 1490; SIZE 518
Avg volume (30D): MMTM 2.58K sh; SIZE 5.21K sh, better
NAV per share: MMTM $302.79; SIZE $180.22
52W range

ETF.net Grade

Pillar letters and Scores for MMTM, SIZE, with each pillar’s weight
Pillar	MMTM	SIZE
Cost30% weight	A93Higher	A81
Mission25% weight	A84	A93Higher
Risk15% weight	D33	B66Higher
Tradability15% weight	D29Higher	F23
Holdings10% weight	C43	A88Higher
Durability5% weight	C50	B57Higher

Rank among US Factor Index funds

How we build Categories ›

Same Category. MMTM and SIZE are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds

See all 30 ›

SIZE ranks 3rd and MMTM 9th of 30 funds in the US Factor Index Category.

Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
Rank 3ASIZEiShares MSCI USA Size Factor ETFScore 72
Rank 4ADXUVU.S. Vector Equity Portfolio ETF Class SharesScore 70
Rank 8BPRFInvesco RAFI US 1000 ETFScore 66
Rank 9BMMTMState Street SPDR S&P 1500 Momentum Tilt ETFScore 65
Rank 9BNULCNuveen ESG Large-CapScore 65

Our read on each fund

ETF.net Research

MMTMBState Street SPDR S&P 1500 Momentum Tilt ETF

SIZEAiShares MSCI USA Size Factor ETF

In short

MMTM Most momentum funds cut the market down to a hundred-odd winners. MMTM keeps roughly 1,500 US large, mid and small caps and just reweights them: strong momentum overweight, laggards underweight, for 0.12% a year.

SIZE The size factor without leaving the large-cap pool: SIZE holds roughly 500 US stocks and leans toward the smaller names in that universe, spreading weight away from the mega-cap giants. An iShares factor original from 2013.

Stated mandate

MMTM The fund seeks to track, before fees and expenses, the total return of the S&P 1500 Positive Momentum Tilt Index. The index emphasizes stocks with stronger recent price momentum.

SIZE The fund seeks to track an index of U.S. stocks that have smaller market capitalizations relative to their peers.

Why people hold it

MMTM Costs 0.12% a year, well under half the 0.28% median for its US factor peer group. One of the cheaper ways to buy a momentum tilt.
The whole S&P Composite 1500 stays in the portfolio (large, mid and small caps). Momentum changes the weights, not the roster, so nothing gets dropped for one bad quarter.spglobal.com
Trading since 2012, which makes it one of the longer-running factor-tilt funds around. Distributions come quarterly.

SIZE Charges 0.15%, roughly half the typical fee among US factor ETFs.
Tracks the MSCI USA Low Size Index tightly, one of the closer index implementations in its peer group.
Roughly 500 holdings, so no single name dominates the way it does in a cap-weighted US index.
Running since 2013, one of the original iShares single-factor funds rather than a recent launch.ishares.com

Worth knowing

MMTM Thinly traded with a modest asset base. Limit orders and a glance at the spread matter more here than with the giant factor ETFs.
The tilt is gentle by design. Holding all 1,500 names keeps it close to the broad US market rather than a concentrated bet on recent winners.spglobal.com
Weights follow recent price strength, so the fund leans into whatever has been running lately, crowded corners of the market included.ssga.com

SIZE Thinly traded next to headline index funds, so bid-ask spreads can run wider and bigger orders need more care.
This is a tilt, not a small-cap fund: the index draws from US large and mid caps and favors the smaller end of that pool.
A mid-sized fund by category standards, not one of the asset-gathering giants. Pays quarterly.

Full MMTM profile⁠

Full SIZE profile⁠

MMTM vs SIZE Holdings

How MMTM and SIZE differ

Overlap by weight

34.4%

Shared holdings make up 91.9% of MMTM and 91.6% of SIZE.

Level by level

Holdings471 in both34.4%
Sector11 Sectors70.2%
Countryby domicile98.3%
Asset classEquity100%

Sector

Sector weights in MMTM and SIZE, widest gap first
Sector	More in MMTMMore in SIZE	MMTM	SIZE
Technology	MMTM +22.5 points	40.4%	17.9%
Industrials	SIZE +7.7 points	8.5%	16.2%
Financials	SIZE +6.4 points	9.7%	16.1%
Communication	MMTM +5.3 points	8.6%	3.3%
Utilities	SIZE +4.4 points	0.8%	5.2%
Consumer Discretionary	SIZE +3.9 points	5.1%	9.0%
Materials	SIZE +2.7 points	2.1%	4.8%
Real Estate	SIZE +2.7 points	1.8%	4.5%
Energy	MMTM +2.1 points	6.4%	4.3%
Consumer Staples	SIZE +1.4 points	4.3%	5.7%
Health Care	SIZE +0.5 points	12.3%	12.8%

Country, concentration and asset class

Country by domicile

Country weights in MMTM and SIZE, widest gap first
Country	More in MMTMMore in SIZE	MMTM	SIZE
United States	MMTM +1.7 points	99.4%	97.7%
Other countries (9)	SIZE +1.7 points	0.6%	2.3%

Concentration

Weight in the 10 largest Holdings

MMTM36.3%
SIZE3.7%

Securities held

MMTM1,488
SIZE515

Asset class

MMTM: Equity
SIZE: Equity

Holdings

Only in MMTM1,017
In both471
Only in SIZE44

Only in MMTM

1,017 securities, 7.5% of MMTM by weight

Moderna Inc0.23%
Viatris Inc0.06%
Permian Resources Corp Class A0.05%
Td Synnex Corp0.05%
Ovintiv Inc0.05%
Macom Technology Solutions H0.05%
Royal Gold Inc0.05%
Revvity Inc0.05%
Us Foods Holding Corp0.05%
Hf Sinclair Corp0.05%
Southwest Airlines Co0.05%
Tenet Healthcare Corp0.05%
Charles River Laboratories0.04%
Apa Corp0.04%
Wesco International Inc0.04%
Zebra Technologies Corp Class A0.04%
Reinsurance Group of America0.04%
Host Hotels & Resorts Inc0.04%
Clean Harbors Inc0.04%
Mks Inc0.04%
Woodward Inc0.04%
Lattice Semiconductor Corp0.04%
Halozyme Therapeutics Inc0.04%
Exelixis Inc0.04%
Semtech Corp0.04%
Stanley Black & Decker Inc0.03%
Aramark0.03%
East West Bancorp Inc0.03%
Jazz Pharmaceuticals PLC0.03%
Glaukos Corp0.03%
Five Below0.03%
Assurant Inc0.03%
Onto Innovation Inc0.03%
Akamai Technologies Inc0.03%
Penumbra Inc0.03%
Moog Inc Class A0.03%
Sitime Corp0.03%
Viasat Inc0.03%
Invesco Ltd0.03%
Cognex Corp0.03%
Digitalocean Holdings Inc0.03%
Arrow Electronics Inc0.03%
Renaissancere Holdings Ltd0.03%
Borgwarner Inc0.03%
Baxter International Inc0.03%
Sanmina Corp0.03%
Dynatrace Inc0.03%
Repligen Corp0.03%
Ryder System Inc0.03%
Brightspring Health Services0.03%

Only in SIZE

44 securities, 8.3% of SIZE by weight

Atlassian Corp Class A0.42%
Natera0.40%
Snowflake0.33%
Samsara Class A0.26%
Zscaler0.26%
Cloudflare Class A0.25%
Cheniere Energy0.25%
Revolution Medicines0.24%
Royalty Pharma PLC Class A0.24%
Ss and C Technologies Holdings0.23%
First Citizens Bancshares Class A0.23%
Waste Connections0.22%
Affirm Holdings Class A0.21%
Sunbelt Rentals Holdings Inc0.21%
Sofi Technologies0.21%
Tradeweb Markets Inc Class A0.21%
Mongodb Class A0.20%
Medline Class A0.20%
Insmed0.20%
Astera Labs0.20%
Liberty Media Series C0.20%
Markel Group0.19%
Rocket Companies Inc Class A0.19%
Lpl Financial Holdings0.19%
Zoom Communications Class A0.18%
Mercadolibre0.18%
Rivian Automotive Class A0.18%
Roblox Class A0.18%
Credo Technology Group Holding Ltd0.17%
Flutter Entertainment PLC0.16%
Amrize AG0.16%
Ftai Aviation0.16%
Strategy Inc Class A0.15%
Circle Internet Group Inc Class A0.12%
Heico Class A0.12%
Reddit Class A0.11%
Space Exploration Technologies Cor0.11%
Alnylam Pharmaceuticals0.10%
Coreweave Class A0.10%
Iren0.10%
Heico0.09%
Ast Spacemobile Class A0.09%
Rocket Lab Corp0.08%
Hologic Inc0.00%

Weight gaps

The 100 widest of 471 Holdings in both funds.

Holding weights in MMTM and SIZE, widest gap first
Holding	More in MMTMMore in SIZE	MMTM	SIZE
Apple IncAAPL	MMTM +9.62 points	9.80%	0.18%
NVIDIA CorpNVDA	MMTM +6.86 points	7.00%	0.14%
Alphabet Inc Class AGOOGL	MMTM +2.91 points	2.97%	0.06%
Micron Technology IncMU	MMTM +2.72 points	2.93%	0.21%
Microsoft CorpMSFT	MMTM +2.33 points	2.53%	0.20%
Advanced Micro DevicesAMD	MMTM +2.24 points	2.44%	0.20%
Eli Lilly & CoLLY	MMTM +2.20 points	2.43%	0.23%
Alphabet Inc Class CGOOG	MMTM +2.15 points	2.20%	0.05%
Amazon.com IncAMZN	MMTM +2.07 points	2.22%	0.15%
Exxonmobil Holdings CorpXOM	MMTM +1.58 points	1.77%	0.19%
Meta Platforms Inc Class AMETA	MMTM +1.50 points	1.67%	0.17%
Johnson & JohnsonJNJ	MMTM +1.36 points	1.56%	0.20%
Intel CorpINTC	MMTM +1.17 points	1.27%	0.10%
Cisco Systems IncCSCO	MMTM +0.92 points	1.07%	0.15%
Berkshire Hathaway Inc Class BBRK.B	MMTM +0.89 points	1.08%	0.19%
Chevron CorpCVX	MMTM +0.81 points	1.01%	0.20%
JPMorgan Chase & CoJPM	MMTM +0.79 points	0.98%	0.19%
Applied Materials IncAMAT	MMTM +0.72 points	0.88%	0.16%
Broadcom IncAVGO	MMTM +0.69 points	0.82%	0.13%
Lam Research CorpLRCX	MMTM +0.69 points	0.84%	0.15%
AbbVie IncABBV	MMTM +0.68 points	0.92%	0.24%
Merck & Co. Inc.MRK	MMTM +0.67 points	0.90%	0.23%
Coca Cola Co/TheKO	MMTM +0.59 points	0.79%	0.20%
Philip Morris InternationalPM	MMTM +0.57 points	0.76%	0.19%
Caterpillar IncCAT	MMTM +0.58 points	0.70%	0.12%
Palo Alto Networks IncPANW	MMTM +0.55 points	0.82%	0.27%
Visa Inc Class A SharesV	MMTM +0.54 points	0.75%	0.21%
Texas Instruments IncTXN	MMTM +0.54 points	0.71%	0.17%
Ge Vernova IncGEV	MMTM +0.44 points	0.59%	0.15%
Crowdstrike Holdings Inc ACRWD	MMTM +0.41 points	0.70%	0.29%
Sandisk CorpSNDK	MMTM +0.40 points	0.54%	0.14%
Kla CorpKLAC	MMTM +0.39 points	0.55%	0.16%
Okta IncOKTA	SIZE +0.37 points	0.10%	0.47%
Analog Devices IncADI	MMTM +0.35 points	0.53%	0.18%
Walmart IncWMT	MMTM +0.35 points	0.50%	0.15%
Sharkninja IncSN	SIZE +0.34 points	0.05%	0.39%
Veeva Systems Inc Class AVEEV	SIZE +0.34 points	0.02%	0.36%
Amgen IncAMGN	MMTM +0.34 points	0.59%	0.25%
Marvell Technology IncMRVL	MMTM +0.33 points	0.53%	0.20%
Vivmark ResidentialVMRK	SIZE +0.31 points	0.05%	0.36%
Citigroup IncC	MMTM +0.29 points	0.47%	0.18%
Best Buy Co IncBBY	SIZE +0.29 points	0.03%	0.32%
Seagate Technology HoldingsSTX	MMTM +0.29 points	0.44%	0.15%
Cdw Corp/DeCDW	SIZE +0.29 points	<0.01%	0.29%
Workday Inc Class AWDAY	SIZE +0.28 points	<0.01%	0.29%
Goldman Sachs Group IncGS	MMTM +0.27 points	0.44%	0.17%
Mettler Toledo InternationalMTD	SIZE +0.27 points	0.03%	0.30%
UnitedHealth Group IncUNH	MMTM +0.27 points	0.45%	0.18%
Toast Inc Class ATOST	SIZE +0.27 points	<0.01%	0.27%
Roper Technologies IncROP	SIZE +0.27 points	<0.01%	0.27%
Estee Lauder Companies Class AEL	SIZE +0.26 points	<0.01%	0.27%
Jacobs Solutions IncJ	SIZE +0.26 points	<0.01%	0.27%
Ptc IncPTC	SIZE +0.26 points	<0.01%	0.26%
Western Digital CorpWDC	MMTM +0.26 points	0.40%	0.14%
Global Payments IncGPN	SIZE +0.25 points	0.02%	0.27%
Accenture PLC Class AACN	SIZE +0.25 points	0.01%	0.26%
Dollar Tree IncDLTR	SIZE +0.24 points	0.04%	0.28%
Corebridge Financial IncCRBG	SIZE +0.24 points	<0.01%	0.25%
Genuine Parts CoGPC	SIZE +0.24 points	0.02%	0.26%
Cognizant Tech Solutions ACTSH	SIZE +0.24 points	<0.01%	0.24%
PayPal Holdings IncPYPL	SIZE +0.24 points	<0.01%	0.24%
Veralto CorpVLTO	SIZE +0.24 points	<0.01%	0.25%
International Paper CoIP	SIZE +0.24 points	<0.01%	0.24%
Williams Sonoma IncWSM	SIZE +0.23 points	0.05%	0.28%
Willis Towers Watson PLCWTW	SIZE +0.23 points	0.01%	0.24%
Brown & Brown IncBRO	SIZE +0.23 points	<0.01%	0.23%
Broadridge Financial SolutioBR	SIZE +0.23 points	<0.01%	0.23%
Masco CorpMAS	SIZE +0.22 points	0.02%	0.24%
Gen Digital IncGEN	SIZE +0.22 points	<0.01%	0.23%
Arthur J Gallagher & CoAJG	SIZE +0.22 points	0.03%	0.25%
Ulta Beauty IncULTA	SIZE +0.22 points	0.03%	0.25%
TransunionTRU	SIZE +0.23 points	<0.01%	0.23%
Ge Healthcare TechnologyGEHC	SIZE +0.22 points	0.01%	0.23%
Amcor PLCAMCR	SIZE +0.22 points	0.03%	0.25%
Labcorp Holdings IncLH	SIZE +0.22 points	0.05%	0.27%
Equifax IncEFX	SIZE +0.22 points	<0.01%	0.22%
Leidos Holdings IncLDOS	SIZE +0.22 points	<0.01%	0.22%
Carnival Corp LtdCCL	SIZE +0.22 points	<0.01%	0.23%
Arista Networks IncANET	MMTM +0.22 points	0.43%	0.21%
Verisk Analytics IncVRSK	SIZE +0.22 points	<0.01%	0.22%
Hp IncHPQ	SIZE +0.21 points	0.05%	0.26%
Everpure Inc AP	SIZE +0.22 points	0.10%	0.32%
Agilent Technologies IncA	SIZE +0.22 points	0.08%	0.30%
Paychex IncPAYX	SIZE +0.21 points	0.01%	0.22%
Tractor Supply CompanyTSCO	SIZE +0.21 points	<0.01%	0.21%
ConocophillipsCOP	MMTM +0.20 points	0.42%	0.22%
Packaging Corp of AmericaPKG	SIZE +0.20 points	0.04%	0.24%
Cencora IncCOR	SIZE +0.21 points	0.02%	0.23%
Ball CorpBALL	SIZE +0.20 points	0.03%	0.23%
Ingersoll Rand IncIR	SIZE +0.20 points	0.02%	0.22%
Super Micro Computer IncSMCI	SIZE +0.21 points	<0.01%	0.21%
Doordash Inc ADASH	SIZE +0.21 points	<0.01%	0.21%
Robinhood Markets Inc AHOOD	SIZE +0.20 points	<0.01%	0.21%
Pultegroup IncPHM	SIZE +0.20 points	0.01%	0.21%
Morgan StanleyMS	MMTM +0.20 points	0.37%	0.17%
Illumina IncILMN	SIZE +0.20 points	0.12%	0.32%
Axon Enterprise IncAXON	SIZE +0.20 points	<0.01%	0.20%
Zimmer Biomet Holdings IncZBH	SIZE +0.20 points	<0.01%	0.21%
Kimberly Clark CorpKMB	SIZE +0.20 points	<0.01%	0.21%
News Corp Class ANWSA	SIZE +0.20 points	0.01%	0.21%

All 1,487 MMTM holdings⁠All 515 SIZE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MMTM vs SIZE Cost

Overpaying SIZE vs MMTM

$617

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

MMTM 0.12%
$2,520
SIZE 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

MMTM 0.12%
SIZE 0.15%
Overpaying

Year by year

Year	MMTM	SIZE	Overpaying
10	$220	$274	$54
20	$859	$1,071	$212
30	$2,520	$3,137	$617

Expense ratio

0.12%MMTM, cheaper
0.15%SIZE

MMTM0.12%SIZE0.15%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

MMTM 3rd cheapest of 30 funds

SIZE 5th cheapest of 30 funds

MMTM vs SIZE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): MMTM 0.93%; SIZE 1.37%, better
Payout (12M): MMTM $2.74; SIZE $2.47
Last payment: MMTM $0.66; SIZE $0.65
Ex-dividend: MMTM Sep 21, 2026; SIZE Sep 15, 2026
Paid on: MMTM Sep 23, 2026; SIZE Sep 18, 2026
Frequency: MMTM Quarterly; SIZE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MMTMQuarterly · 39 paymentsAll MMTM payments⁠

SIZEQuarterly · 41 paymentsAll SIZE payments⁠

MMTM vs SIZE Risk

Fall from peak · 5 years

MMTM
SIZE

Risk facts

VolatilityStd dev, 3 years: MMTM 14.5%SIZE 13.0%, better
Return per unit of riskSharpe ratio, 3 years: MMTM 1.03SIZE 1.06, better
Worst fallMax drawdown, 5 years: MMTM −23.7%, betterSIZE −24.0%
Market sensitivityBeta, 5 years: MMTM 1.03SIZE 0.97; Market = 1

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