CIL vs. VSMV

Last updated Jun 3, 2026

CIL (VictoryShares International Volatility Wtd ETF) and VSMV (VictoryShares US Multi-Factor Minimum Volatility ETF) are both exchange-traded funds - CIL is a Foreign Large Cap Equities fund tracking the Nasdaq Victory International 500 Volatility Weighted Index, while VSMV is a Volatility Hedged Equity fund tracking the Nasdaq Victory Multi-Factor Minimum Volatility Index. Both are passively managed. Over the past 5 years, CIL returned 7.45%/yr vs 11.42%/yr for VSMV. A 0.53 correlation means they provide meaningful diversification when combined. CIL charges 0.45%/yr vs 0.35%/yr for VSMV.

Performance

CIL vs. VSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares International Volatility Wtd ETF (CIL) and VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIL achieves a 5.44% return, which is significantly lower than VSMV's 8.93% return.

CIL

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.44%
• 6M: 8.27%
• 1Y: 16.20%
• 3Y*: 15.59%
• 5Y*: 7.45%
• 10Y*: 8.21%

VSMV

• 1D: 0.36%
• 1M: 1.84%
• YTD: 8.93%
• 6M: 10.25%
• 1Y: 24.66%
• 3Y*: 16.71%
• 5Y*: 11.42%
• 10Y*: —

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

CIL vs. VSMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIL VictoryShares International Volatility Wtd ETF	5.44%	32.99%	3.76%	16.29%	-16.00%	11.07%	7.21%	19.13%	-13.34%	10.33%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	8.93%	16.77%	15.79%	12.34%	-7.56%	25.66%	5.05%	26.79%	-1.12%	11.48%

Correlation

The correlation between CIL and VSMV is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.53

The correlation between CIL and VSMV has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

CIL vs. VSMV - Sectors Allocation Comparison

Sectors	CIL	VSMV
Financial Services	24.8%	8.1%
Industrials	18.4%	8.5%
Consumer Defensive	8.8%	17.6%
Consumer Cyclical	8.2%	5.0%
Healthcare	7.7%	14.8%
Utilities	6.6%	0.0%
Basic Materials	6.6%	1.8%
Technology	6.4%	34.4%
Communication Services	5.8%	5.4%
Energy	4.6%	4.4%
Real Estate	2.2%	0.0%

Return for Risk

CIL vs. VSMV — Risk / Return Rank

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

CIL

CIL Risk / Return Rank: 73
CIL Sharpe Ratio Rank: 61
CIL Sortino Ratio Rank: 62
CIL Omega Ratio Rank: 73
CIL Calmar Ratio Rank: 81
CIL Martin Ratio Rank: 86

VSMV

VSMV Risk / Return Rank: 84
VSMV Sharpe Ratio Rank: 83
VSMV Sortino Ratio Rank: 88
VSMV Omega Ratio Rank: 81
VSMV Calmar Ratio Rank: 85
VSMV Martin Ratio Rank: 85

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.

CIL vs. VSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares International Volatility Wtd ETF (CIL) and VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV). 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.

	CIL	VSMV	Difference
Sharpe ratio Return per unit of total volatility	2.07	2.73	-0.66
Sortino ratio Return per unit of downside risk	2.96	4.05	-1.09
Omega ratio Gain probability vs. loss probability	1.45	1.49	-0.05
Calmar ratio Return relative to maximum drawdown	4.32	4.74	-0.42
Martin ratio Return relative to average drawdown	18.62	18.11	+0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIL vs. VSMV - Sharpe Ratio Comparison

The current CIL Sharpe Ratio is 2.07, which is comparable to the VSMV Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of CIL and VSMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CIL	VSMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.73	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.89	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.82	-0.39

Drawdowns

CIL vs. VSMV - Drawdown Comparison

The maximum CIL drawdown since its inception was -36.27%, which is greater than VSMV's maximum drawdown of -31.33%. Use the drawdown chart below to compare losses from any high point for CIL and VSMV.

Drawdown Indicators

	CIL	VSMV	Difference
Max Drawdown Largest peak-to-trough decline	-36.27%	-31.33%	-4.94%
Max Drawdown (1Y) Largest decline over 1 year	-4.60%	-5.18%	+0.58%
Max Drawdown (3Y) Largest decline over 3 years	-11.96%	-13.22%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	-29.89%	-17.96%	-11.93%
Max Drawdown (10Y) Largest decline over 10 years	-36.27%	—	—
Current Drawdown Current decline from peak	-0.58%	-1.12%	+0.54%
Average Drawdown Average peak-to-trough decline	-6.56%	-3.41%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	1.36%	-0.29%

Volatility

CIL vs. VSMV - Volatility Comparison

The current volatility for VictoryShares International Volatility Wtd ETF (CIL) is 0.00%, while VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) has a volatility of 2.50%. This indicates that CIL experiences smaller price fluctuations and is considered to be less risky than VSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIL	VSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	2.50%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	4.42%	6.35%	-1.93%
Volatility (1Y) Calculated over the trailing 1-year period	8.26%	9.08%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	12.86%	+3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	15.05%	+2.13%

CIL vs. VSMV - Expense Ratio Comparison

CIL has a 0.45% expense ratio, which is higher than VSMV's 0.35% expense ratio.

Dividends

CIL vs. VSMV - Dividend Comparison

CIL's dividend yield for the trailing twelve months is around 1.67%, more than VSMV's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIL VictoryShares International Volatility Wtd ETF	1.67%	2.70%	3.46%	2.91%	2.41%	3.04%	1.73%	2.69%	2.85%	2.17%	2.34%	0.43%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	1.32%	1.35%	1.36%	1.77%	1.99%	1.36%	2.01%	2.00%	2.42%	1.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CIL and VSMV in my portfolio?

CIL and VSMV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIL or VSMV?

VSMV has higher volatility (2.50%) compared to CIL (0.00%). In terms of maximum drawdown, CIL dropped -36.27% vs VSMV's -31.33%.

Which ETF is better, CIL or VSMV?

On 5-year performance, VSMV leads with 11.42% vs 7.45% for CIL. On fees, VSMV is cheaper at 0.35% per year. On volatility, CIL has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CIL or VSMV?

Over the 5-year period, VSMV has performed better with a 11.42% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CIL or VSMV?

VSMV is cheaper with a 0.35% expense ratio, compared with 0.45% for CIL.

Which ETF pays a higher dividend yield, CIL or VSMV?

CIL has the higher dividend yield at 1.67%, compared with 1.32% for VSMV.

What is the main difference between CIL and VSMV?

CIL is categorized as Foreign Large Cap Equities, while VSMV is Volatility Hedged Equity. CIL tracks Nasdaq Victory International 500 Volatility Weighted Index, while VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index. Their fees differ too: 0.45% for CIL and 0.35% for VSMV.

Which has better risk-adjusted returns?

VSMV currently has the higher Sharpe Ratio (2.73 vs 2.07), 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.