APUE vs. USMV

Last updated Jul 15, 2026

APUE (ActivePassive U.S. Equity ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. APUE is actively managed, while USMV is passively managed. Over the past 3 years, APUE returned 20.20%/yr vs 11.07%/yr for USMV. A 0.64 correlation means they provide meaningful diversification when combined. APUE charges 0.33%/yr vs 0.15%/yr for USMV.

Performance

APUE vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive U.S. Equity ETF (APUE) 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, APUE achieves a 11.40% return, which is significantly higher than USMV's 3.64% return.

APUE

• 1D: 0.37%
• 1M: 1.66%
• 6M: 9.28%
• YTD: 11.40%
• 1Y: 23.04%
• 3Y*: 20.20%
• 5Y*: —
• 10Y*: —

USMV

• 1D: -0.96%
• 1M: 1.18%
• 6M: 3.50%
• YTD: 3.64%
• 1Y: 5.50%
• 3Y*: 11.07%
• 5Y*: 6.93%
• 10Y*: 9.48%

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

APUE vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APUE ActivePassive U.S. Equity ETF	11.40%	17.49%	23.89%	17.63%
USMV iShares MSCI USA Min Vol Factor ETF	3.64%	7.65%	15.74%	7.85%

Correlation

The correlation between APUE and USMV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 3, 2023	0.64

The correlation between APUE and USMV shifts across timeframes, from 0.49 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

APUE vs. USMV - Sectors Allocation Comparison

Sectors	APUE	USMV
Technology	37.6%	33.9%
Financial Services	11.4%	11.7%
Consumer Cyclical	10.3%	5.7%
Communication Services	9.9%	6.2%
Industrials	9.3%	6.1%
Healthcare	8.6%	12.6%
Consumer Defensive	4.4%	9.4%
Energy	3.1%	2.7%
Basic Materials	2.0%	2.4%
Utilities	1.8%	6.9%
Real Estate	1.6%	2.5%

Return for Risk

APUE vs. USMV — Risk / Return Rank

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

APUE

APUE Risk / Return Rank: 71
APUE Sharpe Ratio Rank: 71
APUE Sortino Ratio Rank: 70
APUE Omega Ratio Rank: 70
APUE Calmar Ratio Rank: 65
APUE Martin Ratio Rank: 78

USMV

USMV Risk / Return Rank: 22
USMV Sharpe Ratio Rank: 23
USMV Sortino Ratio Rank: 21
USMV Omega Ratio Rank: 20
USMV Calmar Ratio Rank: 23
USMV Martin Ratio Rank: 26

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.

APUE vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive U.S. Equity ETF (APUE) 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.

	APUE	USMV	Difference
Sharpe ratio: Return per unit of total volatility	1.82	0.65	+1.17
Sortino ratio: Return per unit of downside risk	2.53	0.96	+1.57
Omega ratio: Gain probability vs. loss probability	1.33	1.11	+0.22
Calmar ratio: Return relative to maximum drawdown	2.58	0.86	+1.72
Martin ratio: Return relative to average drawdown	11.55	2.80	+8.76

APUE vs. USMV - Sharpe Ratio Comparison

The current APUE Sharpe Ratio is 1.82, which is higher than the USMV Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of APUE and USMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APUE vs. USMV - Drawdown Comparison

The maximum APUE drawdown since its inception was -18.83%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for APUE and USMV.

Drawdown Indicators

	APUE	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	-33.10%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-6.46%	-2.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.83%	-9.36%	-9.47%
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	-0.32%	-1.49%	+1.17%
Average Drawdown Average peak-to-trough decline	-2.05%	-2.87%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.97%	+0.03%

Volatility

APUE vs. USMV - Volatility Comparison

ActivePassive U.S. Equity ETF (APUE) has a higher volatility of 3.60% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.75%. This indicates that APUE's price experiences larger fluctuations and is considered to be riskier than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APUE	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	2.75%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	6.30%	+3.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	8.52%	+4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.66%	12.37%	+2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.66%	14.50%	+0.16%

APUE vs. USMV - Expense Ratio Comparison

APUE has a 0.33% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

APUE vs. USMV - Dividend Comparison

APUE's dividend yield for the trailing twelve months is around 0.75%, less than USMV's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APUE ActivePassive U.S. Equity ETF	0.75%	0.83%	0.79%	0.41%	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 APUE and USMV in my portfolio?

APUE and USMV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APUE or USMV?

APUE has higher volatility (3.60%) compared to USMV (2.75%). In terms of maximum drawdown, APUE dropped -18.83% vs USMV's -33.10%.

Which ETF is better, APUE or USMV?

On 3-year performance, APUE leads with 20.20% vs 11.07% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APUE or USMV?

Over the 3-year period, APUE has performed better with a 20.20% return vs 11.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APUE or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 0.33% for APUE.

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

USMV has the higher dividend yield at 1.49%, compared with 0.75% for APUE.

What is the main difference between APUE and USMV?

They also come from different issuers: ActivePassive and iShares. Their fees differ too: 0.33% for APUE and 0.15% for USMV.

Which has better risk-adjusted returns?

APUE currently has the higher Sharpe Ratio (1.82 vs 0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.