AAEQ vs. USMV

Last updated Jul 17, 2026

AAEQ (Alpha Architect US Equity 2 ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. AAEQ is actively managed, while USMV is passively managed. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

AAEQ vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect US Equity 2 ETF (AAEQ) and iShares MSCI USA Min Vol Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAEQ achieves a 8.51% return, which is significantly higher than USMV's 3.90% return.

AAEQ

• 1D: -0.60%
• 1M: 0.30%
• 6M: 7.61%
• YTD: 8.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USMV

• 1D: 1.08%
• 1M: 1.27%
• 6M: 3.44%
• YTD: 3.90%
• 1Y: 6.27%
• 3Y*: 11.14%
• 5Y*: 6.96%
• 10Y*: 9.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAEQ vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025
AAEQ Alpha Architect US Equity 2 ETF	8.51%	-1.11%
USMV iShares MSCI USA Min Vol Factor ETF	3.90%	0.95%

Correlation

The correlation between AAEQ and USMV is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.42

AAEQ vs. USMV - Sectors Allocation Comparison

Sectors	AAEQ	USMV
Technology	40.5%	33.9%
Communication Services	12.2%	6.2%
Financial Services	11.6%	11.7%
Consumer Cyclical	9.1%	5.7%
Healthcare	9.0%	12.6%
Industrials	6.1%	6.1%
Consumer Defensive	4.5%	9.4%
Energy	2.9%	2.7%
Real Estate	1.6%	2.5%
Utilities	1.5%	6.9%
Basic Materials	1.1%	2.4%

Return for Risk

AAEQ vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAEQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USMV

USMV Risk / Return Rank: 25
USMV Sharpe Ratio Rank: 25
USMV Sortino Ratio Rank: 23
USMV Omega Ratio Rank: 22
USMV Calmar Ratio Rank: 25
USMV Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAEQ vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect US Equity 2 ETF (AAEQ) and iShares MSCI USA Min Vol Factor ETF (USMV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAEQ	USMV	Difference
Sharpe ratio: Return per unit of total volatility	—	0.74	—
Sortino ratio: Return per unit of downside risk	—	1.10	—
Omega ratio: Gain probability vs. loss probability	—	1.13	—
Calmar ratio: Return relative to maximum drawdown	—	0.98	—
Martin ratio: Return relative to average drawdown	—	3.18	—

Drawdowns

AAEQ vs. USMV - Drawdown Comparison

The maximum AAEQ drawdown since its inception was -10.26%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for AAEQ and USMV.

Drawdown Indicators

	AAEQ	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-10.26%	-33.10%	+22.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.10%	—
Current Drawdown Current decline from peak	-1.12%	-1.24%	+0.12%
Average Drawdown Average peak-to-trough decline	-2.37%	-2.87%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.98%	—

Volatility

Volatility by Period

	AAEQ	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.85%	8.53%	+5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	12.38%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	14.50%	-0.65%

AAEQ vs. USMV - Expense Ratio Comparison

Both AAEQ and USMV have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

AAEQ vs. USMV - Dividend Comparison

AAEQ's dividend yield for the trailing twelve months is around 0.09%, less than USMV's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAEQ Alpha Architect US Equity 2 ETF	0.09%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USMV iShares MSCI USA Min Vol Factor ETF	1.49%	1.49%	1.67%	1.82%	1.62%	1.26%	1.81%	1.88%	2.12%	1.77%	2.22%	2.02%

Frequently Asked Questions

Can I hold both AAEQ and USMV in my portfolio?

AAEQ and USMV have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAEQ or USMV?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAEQ or USMV?

AAEQ and USMV have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, AAEQ or USMV?

USMV has the higher dividend yield at 1.49%, compared with 0.09% for AAEQ.

What is the main difference between AAEQ and USMV?

They also come from different issuers: Alpha Architect and iShares.