AVRY vs. USMV

Last updated Jul 17, 2026

AVRY (Avory Foundational ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. AVRY is actively managed, while USMV is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. AVRY charges 0.89%/yr vs 0.15%/yr for USMV.

Performance

AVRY vs. USMV - Performance Comparison

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

Returns By Period

AVRY

• 1D: -0.17%
• 1M: 7.40%
• 6M: —
• YTD: —
• 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)

AVRY vs. USMV - Yearly Performance Comparison

	2026 (YTD)
AVRY Avory Foundational ETF	-0.10%
USMV iShares MSCI USA Min Vol Factor ETF	3.70%

Correlation

The correlation between AVRY and USMV is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.54

AVRY vs. USMV - Sectors Allocation Comparison

Sectors	AVRY	USMV
Technology	45.3%	33.9%
Consumer Cyclical	21.7%	5.7%
Industrials	10.5%	6.1%
Communication Services	8.7%	6.2%
Financial Services	6.1%	11.7%
Healthcare	5.7%	12.6%
Utilities	1.8%	6.9%
Basic Materials	-	2.4%
Consumer Defensive	-	9.4%
Energy	-	2.7%
Real Estate	-	2.5%

Return for Risk

AVRY vs. USMV — Risk / Return Rank

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

AVRY

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.

AVRY vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avory Foundational ETF (AVRY) 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.

	AVRY	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

AVRY vs. USMV - Drawdown Comparison

The maximum AVRY drawdown since its inception was -21.58%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for AVRY and USMV.

Drawdown Indicators

	AVRY	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-21.58%	-33.10%	+11.52%
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	-2.83%	-1.24%	-1.59%
Average Drawdown Average peak-to-trough decline	-10.94%	-2.87%	-8.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.98%	—

Volatility

Volatility by Period

	AVRY	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	27.65%	8.53%	+19.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.65%	12.38%	+15.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.65%	14.50%	+13.15%

AVRY vs. USMV - Expense Ratio Comparison

AVRY has a 0.89% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

AVRY vs. USMV - Dividend Comparison

AVRY has not paid dividends to shareholders, while USMV's dividend yield for the trailing twelve months is around 1.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVRY Avory Foundational ETF	0.00%	0.00%	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 AVRY and USMV in my portfolio?

AVRY and USMV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVRY or USMV?

On fees, USMV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVRY or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 0.89% for AVRY.

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

USMV has the higher dividend yield at 1.49%, compared with 0.00% for AVRY.

What is the main difference between AVRY and USMV?

They also come from different issuers: Avory & Co. and iShares. Their fees differ too: 0.89% for AVRY and 0.15% for USMV.