MTUM vs SIZE: Grades, Fees and Holdings Compared

iShares MSCI USA Momentum Factor ETF

MTUMBCboe

iShares MSCI USA Size Factor ETF

SIZEANYSE Arca

Overlap

22.1%by weight

Expense ratio

MTUM0.15%SIZE0.15%

Avg volume · 30D

MTUM 284.5×the volume

MTUM1.48MSIZE5.21K

10Y return · a year

MTUM +3.1pt

MTUM+15.3%SIZE+12.2%

MTUM vs SIZE Performance

Nov 2, 2021 – Nov 2, 2026

+51.3%MTUM+43.0%SIZE

Expense ratio: MTUM 0.15%; SIZE 0.15%
Fund size: MTUM $17.8B; SIZE $433M
1Y total return: MTUM +9.0%; SIZE +14.4%, better
Yield (12M): MTUM 0.67%; SIZE 1.36%, better
Holdings: MTUM 128; SIZE 518
Avg volume (30D): MTUM 1.48M sh, better; SIZE 5.21K sh
NAV per share: MTUM $284.24; SIZE $180.22
52W range

ETF.net Grade

Pillar letters and Scores for MTUM, SIZE, with each pillar’s weight
Pillar	MTUM	SIZE
Cost30% weight	A81	A81
Mission25% weight	B57	A93Higher
Risk15% weight	D29	B66Higher
Tradability15% weight	A75Higher	F23
Holdings10% weight	C47	A88Higher
Durability5% weight	A85Higher	B57

Rank among US Factor Index funds

How we build Categories ›

Same Category. MTUM 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 MTUM 12th 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 11BGARPiShares MSCI USA Quality GARP ETFScore 64
Rank 12BMTUMiShares MSCI USA Momentum Factor ETFScore 63
Rank 13BFDMOFidelity Momentum Factor ETFScore 57

Our read on each fund

ETF.net Research

MTUMBiShares MSCI USA Momentum Factor ETF

SIZEAiShares MSCI USA Size Factor ETF

In short

MTUM The 2013 original that turned momentum into a mainstream factor bet. MTUM ranks large- and mid-cap US stocks by their 6- and 12-month gains divided by their volatility, so steady climbers outrank wild ones, then rebuilds a roughly 130-stock lineup on a set schedule.

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

MTUM The fund seeks to track an index of U.S. large- and mid-capitalization stocks with relatively high price momentum. Its strategy uses an index designed to emphasize stocks with stronger momentum characteristics than the MSCI USA parent index.

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

MTUM Momentum here is volatility-adjusted: 6- and 12-month price gains scaled by three-year volatility, which favors steady climbers over the jumpiest movers.msci.com
0.15% a year, a fraction of the typical fee among US momentum funds, and one of the stronger overall implementations in that peer group.
Running since 2013 and now a multi-billion-dollar fund that trades actively, which generally means tight spreads and easy fills.
The index spreads its rebalance trades over three days into the effective date and caps weights at the issuer level, both aimed at curbing turnover and concentration.msci.com

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

MTUM Roughly 130 names, chosen by what has been working, so sector tilts can get lopsided and stay that way between index reviews.msci.com
Sharp reversals are momentum's classic weak spot: the portfolio resets at the scheduled May and November reviews, or sooner only if an ad-hoc trigger fires.msci.com
Cheap but not cheapest: JMOM, VFMO and SPMO each charge slightly less for their own version of momentum.

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 MTUM profile⁠

Full SIZE profile⁠

MTUM vs SIZE Holdings

How MTUM and SIZE differ

Overlap by weight

22.1%

Shared holdings make up 100% of MTUM and 24.3% of SIZE.

Level by level

Holdings125 in both22.1%
Sector11 Sectors59.4%
Countryby domicile98.5%
Asset classEquity100%

Sector

Sector weights in MTUM and SIZE, widest gap first
Sector	More in MTUMMore in SIZE	MTUM	SIZE
Technology	MTUM +33.8 points	51.7%	17.9%
Financials	SIZE +10.5 points	5.6%	16.1%
Consumer Discretionary	SIZE +7.1 points	1.9%	9.0%
Industrials	SIZE +6.1 points	10.1%	16.2%
Energy	MTUM +5.6 points	9.9%	4.3%
Utilities	SIZE +5.0 points	0.2%	5.2%
Materials	SIZE +3.9 points	0.9%	4.8%
Consumer Staples	SIZE +2.6 points	3.1%	5.7%
Health Care	SIZE +2.6 points	10.2%	12.8%
Real Estate	SIZE +2.7 points	1.8%	4.5%
Communication	MTUM +1.4 points	4.7%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in MTUM and SIZE, widest gap first
Country	More in MTUMMore in SIZE	MTUM	SIZE
United States	MTUM +1.4 points	99.1%	97.7%
Other countries (8)	SIZE +1.4 points	0.9%	2.3%

Concentration

Weight in the 10 largest Holdings

MTUM34.3%
SIZE3.7%

Securities held

MTUM125
SIZE515

Asset class

MTUM: Equity
SIZE: Equity

Holdings

Only in MTUM0
In both125
Only in SIZE390

Only in MTUM

0 securities, 0.0% of MTUM by weight

Only in SIZE

390 securities, 75.7% of SIZE by weight

Atlassian Corp Class A0.42%
Natera0.40%
Veeva Systems Class A0.36%
Vivmark Residential0.36%
Snowflake0.33%
Everpure Inc Class A0.32%
Best Buy0.32%
Mettler Toledo0.30%
Agilent Technologies Inc0.30%
Iqvia Holdings Inc0.29%
Cdw0.29%
Workday Class A0.29%
Dollar Tree Inc0.28%
Williams Sonoma Inc0.28%
Thermo Fisher Scientific0.27%
Global Payments Inc0.27%
Labcorp Holdings0.27%
Estee Lauder Inc Class A0.27%
Regeneron Pharmaceuticals0.27%
Jacobs Solutions Inc0.27%
Roper Technologies0.27%
Toast Class A0.27%
Samsara Class A0.26%
Accenture PLC Class A0.26%
Waters Corp0.26%
Ptc0.26%
Zscaler0.26%
Genuine Parts0.26%
Corebridge Financial Inc0.25%
Ulta Beauty Inc0.25%
Expedia Group0.25%
Arthur J Gallagher0.25%
Becton Dickinson0.25%
Amcor PLC0.25%
International Flavors & Fragrances0.25%
Amgen Inc0.25%
Danaher0.25%
Cheniere Energy0.25%
Veralto0.25%
Masco0.24%
Willis Towers Watson0.24%
Dollar General Corp0.24%
Packaging Corp of America0.24%
Cognizant Technology Solutions Cla0.24%
PayPal Holdings0.24%
Incyte Corp0.24%
Expeditors International of Washin0.24%
International Paper0.24%
Automatic Data Processing Inc0.24%
Entegris Inc0.24%

Weight gaps

The 100 widest of 125 Holdings in both funds.

Holding weights in MTUM and SIZE, widest gap first
Holding	More in MTUMMore in SIZE	MTUM	SIZE
Advanced Micro DevicesAMD	MTUM +5.55 points	5.75%	0.20%
Micron TechnologyMU	MTUM +4.81 points	5.02%	0.21%
Johnson & JohnsonJNJ	MTUM +3.50 points	3.69%	0.20%
Cisco Systems IncCSCO	MTUM +3.45 points	3.60%	0.15%
Exxonmobil Holdings CorpXOM	MTUM +3.05 points	3.24%	0.19%
Intel CorporationINTC	MTUM +2.79 points	2.89%	0.10%
Palo Alto NetworksPANW	MTUM +2.50 points	2.77%	0.27%
Applied Material IncAMAT	MTUM +2.47 points	2.63%	0.16%
Alphabet Class AGOOGL	MTUM +2.35 points	2.41%	0.06%
UnitedHealth GroupUNH	MTUM +2.14 points	2.32%	0.18%
SandiskSNDK	MTUM +2.11 points	2.25%	0.14%
Coca-ColaKO	MTUM +1.96 points	2.16%	0.20%
Alphabet Class CGOOG	MTUM +1.86 points	1.91%	0.05%
Lam ResearchLRCX	MTUM +1.83 points	1.98%	0.15%
Merck & Co IncMRK	MTUM +1.78 points	2.01%	0.23%
Seagate Technology Holdings PLCSTX	MTUM +1.73 points	1.88%	0.15%
Caterpillar IncCAT	MTUM +1.65 points	1.77%	0.12%
ChevronCVX	MTUM +1.59 points	1.79%	0.20%
Western Digital CorpWDC	MTUM +1.52 points	1.66%	0.14%
Marvell TechnologyMRVL	MTUM +1.51 points	1.71%	0.20%
Crowdstrike Holdings Class ACRWD	MTUM +1.51 points	1.80%	0.29%
Dell Technologies Inc Class CDELL	MTUM +1.36 points	1.68%	0.32%
Ge VernovaGEV	MTUM +1.32 points	1.47%	0.15%
Texas InstrumentTXN	MTUM +1.30 points	1.47%	0.17%
Marathon PetroleumMPC	MTUM +1.03 points	1.34%	0.31%
KlaKLAC	MTUM +0.96 points	1.12%	0.16%
Valero Energy CorpVLO	MTUM +0.93 points	1.21%	0.28%
Union PacificUNP	MTUM +0.90 points	1.10%	0.20%
Goldman Sachs GroupGS	MTUM +0.86 points	1.03%	0.17%
WelltowerWELL	MTUM +0.85 points	1.04%	0.19%
Morgan StanleyMS	MTUM +0.83 points	1.00%	0.17%
Analog DevicesADI	MTUM +0.81 points	0.99%	0.18%
CitigroupC	MTUM +0.72 points	0.90%	0.18%
FortinetFTNT	MTUM +0.62 points	0.81%	0.19%
Cvs HealthCVS	MTUM +0.58 points	0.75%	0.17%
Arista NetworksANET	MTUM +0.58 points	0.79%	0.21%
Bank of New York Mellon CorpBNY	MTUM +0.57 points	0.76%	0.19%
Phillips 66PSX	MTUM +0.57 points	0.85%	0.28%
ConocophillipsCOP	MTUM +0.56 points	0.78%	0.22%
Lumentum HoldingsLITE	MTUM +0.57 points	0.74%	0.17%
Amphenol Corp Class AAPH	MTUM +0.57 points	0.80%	0.23%
CsxCSX	MTUM +0.56 points	0.76%	0.20%
Hewlett Packard EnterpriseHPE	MTUM +0.56 points	0.87%	0.31%
CorningGLW	MTUM +0.51 points	0.63%	0.12%
Quanta Services IncPWR	MTUM +0.46 points	0.62%	0.16%
Datadog Inc Class ADDOG	MTUM +0.44 points	0.64%	0.20%
Equinix ReitEQIX	MTUM +0.38 points	0.55%	0.17%
Ross Stores IncROST	MTUM +0.37 points	0.57%	0.20%
Travelers CompaniesTRV	MTUM +0.37 points	0.61%	0.24%
Howmet AerospaceHWM	MTUM +0.36 points	0.50%	0.14%
Eog ResourcesEOG	MTUM +0.31 points	0.52%	0.21%
CienaCIEN	MTUM +0.29 points	0.40%	0.11%
SharkninjaSN	SIZE +0.29 points	0.10%	0.39%
Johnson Controls International PLCJCI	MTUM +0.27 points	0.47%	0.20%
Bloom Energy Class ABE	MTUM +0.25 points	0.39%	0.14%
Okta Class AOKTA	SIZE +0.25 points	0.22%	0.47%
Vertiv Holdings Class AVRT	MTUM +0.25 points	0.38%	0.13%
Allstate CorpALL	MTUM +0.25 points	0.46%	0.21%
Cloudflare Class ANET	MTUM +0.24 points	0.49%	0.25%
Marriott International Class AMAR	MTUM +0.24 points	0.44%	0.20%
NucorNUE	MTUM +0.22 points	0.45%	0.23%
Keysight TechnologiesKEYS	MTUM +0.22 points	0.38%	0.16%
Targa ResourcesTRGP	MTUM +0.21 points	0.42%	0.21%
Target CorpTGT	MTUM +0.21 points	0.43%	0.22%
Cummins IncCMI	MTUM +0.20 points	0.34%	0.14%
Monster BeverageMNST	MTUM +0.20 points	0.40%	0.20%
Fedex CorpFDX	MTUM +0.19 points	0.34%	0.15%
Comfort Systems UsaFIX	MTUM +0.19 points	0.31%	0.12%
State StreetSTT	MTUM +0.19 points	0.40%	0.21%
TeradyneTER	MTUM +0.18 points	0.34%	0.16%
Astera LabsALAB	MTUM +0.17 points	0.37%	0.20%
Ww Grainger IncGWW	MTUM +0.17 points	0.37%	0.20%
HumanaHUM	MTUM +0.16 points	0.41%	0.25%
NordsonNDSN	SIZE +0.16 points	0.07%	0.23%
Delta Air LinesDAL	SIZE +0.15 points	0.07%	0.22%
Monolithic Power Systems IncMPWR	MTUM +0.14 points	0.29%	0.15%
Flex LtdFLEX	MTUM +0.13 points	0.26%	0.13%
Hp IncHPQ	SIZE +0.11 points	0.15%	0.26%
Reliance Steel & AluminumRS	SIZE +0.11 points	0.12%	0.23%
Illumina IncILMN	SIZE +0.11 points	0.21%	0.32%
Lyondellbasell Industries Class ALYB	SIZE +0.10 points	0.08%	0.18%
United TherapeuticsUTHR	SIZE +0.09 points	0.11%	0.20%
General MotorsGM	MTUM +0.09 points	0.31%	0.22%
Westinghouse Air Brake TechnologieWAB	MTUM +0.09 points	0.29%	0.20%
Revolution MedicinesRVMD	MTUM +0.09 points	0.33%	0.24%
CoherentCOHR	MTUM +0.08 points	0.19%	0.11%
BiogenBIIB	SIZE +0.08 points	0.17%	0.25%
Citizens Financial Group IncCFG	SIZE +0.08 points	0.12%	0.20%
West Pharmaceutical ServicesWST	SIZE +0.08 points	0.18%	0.26%
Cf Industries Holdings IncCF	SIZE +0.08 points	0.11%	0.18%
Principal Financial Group IncPFG	SIZE +0.07 points	0.14%	0.21%
XpoXPO	SIZE +0.07 points	0.11%	0.18%
Quest Diagnostics IncDGX	SIZE +0.06 points	0.19%	0.25%
GarminGRMN	MTUM +0.06 points	0.28%	0.22%
TapestryTPR	SIZE +0.07 points	0.10%	0.17%
Netapp IncNTAP	MTUM +0.07 points	0.38%	0.31%
Ventas ReitVTR	MTUM +0.05 points	0.23%	0.18%
Curtiss WrightCW	SIZE +0.05 points	0.08%	0.13%
Jb Hunt Transport ServicesJBHT	SIZE +0.05 points	0.11%	0.16%
Occidental Petroleum CorpOXY	MTUM +0.05 points	0.24%	0.19%

All 125 MTUM 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.

MTUM vs SIZE Cost

Same expense ratio

$3,137

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

MTUM 0.15%
$3,137
SIZE 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

MTUM 0.15%
SIZE 0.15%

Year by year

Year	MTUM	SIZE
10	$274	$274
20	$1,071	$1,071
30	$3,137	$3,137

Expense ratio

0.15%MTUM
0.15%SIZE

MTUM0.15%SIZE0.15%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

MTUM 5th cheapest of 30 funds

SIZE 5th cheapest of 30 funds

MTUM vs SIZE Dividends

Last 12 months to Nov 2, 2026

Yield (12M): MTUM 0.67%; SIZE 1.36%, better
Payout (12M): MTUM $1.85; SIZE $2.47
Last payment: MTUM $0.60; SIZE $0.65
Ex-dividend: MTUM Sep 15, 2026; SIZE Sep 15, 2026
Paid on: MTUM Sep 18, 2026; SIZE Sep 18, 2026
Frequency: MTUM Quarterly; SIZE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MTUMQuarterly · 39 paymentsAll MTUM payments⁠

SIZEQuarterly · 41 paymentsAll SIZE payments⁠

MTUM vs SIZE Risk

Fall from peak · 5 years

MTUM
SIZE

Risk facts

VolatilityStd dev, 3 years: MTUM 21.6%SIZE 13.0%, better
Return per unit of riskSharpe ratio, 3 years: MTUM 1.07, betterSIZE 1.06
Worst fallMax drawdown, 5 years: MTUM −32.3%SIZE −24.0%, better
Market sensitivityBeta, 5 years: MTUM 1.24SIZE 0.97; Market = 1

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