CNAV vs. USMV

Last updated Jul 15, 2026

CNAV (Mohr Company Nav ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. CNAV is actively managed, while USMV is passively managed. Over the past year, CNAV returned 60.38% vs 5.50% for USMV. At a 0.32 correlation, their price movements are largely independent. CNAV charges 1.31%/yr vs 0.15%/yr for USMV.

Performance

CNAV vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Company Nav ETF (CNAV) 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, CNAV achieves a 40.49% return, which is significantly higher than USMV's 3.64% return.

CNAV

• 1D: 3.39%
• 1M: -0.80%
• 6M: 33.68%
• YTD: 40.49%
• 1Y: 60.38%
• 3Y*: —
• 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)

CNAV vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNAV Mohr Company Nav ETF	40.49%	16.80%	6.05%
USMV iShares MSCI USA Min Vol Factor ETF	3.64%	7.65%	-2.31%

Correlation

The correlation between CNAV and USMV is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.32

The correlation between CNAV and USMV shifts across timeframes, from 0.14 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CNAV vs. USMV — Risk / Return Rank

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

CNAV

CNAV Risk / Return Rank: 78
CNAV Sharpe Ratio Rank: 75
CNAV Sortino Ratio Rank: 64
CNAV Omega Ratio Rank: 70
CNAV Calmar Ratio Rank: 91
CNAV Martin Ratio Rank: 90

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.

CNAV vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Company Nav ETF (CNAV) 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.

	CNAV	USMV	Difference
Sharpe ratio: Return per unit of total volatility	1.89	0.65	+1.25
Sortino ratio: Return per unit of downside risk	2.38	0.96	+1.42
Omega ratio: Gain probability vs. loss probability	1.33	1.11	+0.22
Calmar ratio: Return relative to maximum drawdown	4.58	0.86	+3.73
Martin ratio: Return relative to average drawdown	15.57	2.80	+12.77

CNAV vs. USMV - Sharpe Ratio Comparison

The current CNAV Sharpe Ratio is 1.89, which is higher than the USMV Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of CNAV 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

CNAV vs. USMV - Drawdown Comparison

The maximum CNAV drawdown since its inception was -30.06%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for CNAV and USMV.

Drawdown Indicators

	CNAV	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-30.06%	-33.10%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-13.24%	-6.46%	-6.78%
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	-9.90%	-1.49%	-8.41%
Average Drawdown Average peak-to-trough decline	-5.47%	-2.87%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	1.97%	+1.92%

Volatility

CNAV vs. USMV - Volatility Comparison

Mohr Company Nav ETF (CNAV) has a higher volatility of 17.81% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.75%. This indicates that CNAV'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

	CNAV	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.81%	2.75%	+15.06%
Volatility (6M) Calculated over the trailing 6-month period	29.17%	6.30%	+22.87%
Volatility (1Y) Calculated over the trailing 1-year period	32.04%	8.52%	+23.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.49%	12.37%	+18.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.49%	14.50%	+15.99%

CNAV vs. USMV - Expense Ratio Comparison

CNAV has a 1.31% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

CNAV vs. USMV - Dividend Comparison

CNAV 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
CNAV Mohr Company Nav 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 CNAV and USMV in my portfolio?

CNAV and USMV have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNAV or USMV?

CNAV has higher volatility (17.81%) compared to USMV (2.75%). In terms of maximum drawdown, CNAV dropped -30.06% vs USMV's -33.10%.

Which ETF is better, CNAV or USMV?

On 1-year performance, CNAV leads with 60.38% vs 5.50% 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, CNAV or USMV?

Over the 1-year period, CNAV has performed better with a 60.38% return vs 5.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNAV or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 1.31% for CNAV.

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

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

What is the main difference between CNAV and USMV?

They also come from different issuers: Mohr and iShares. Their fees differ too: 1.31% for CNAV and 0.15% for USMV.

Which has better risk-adjusted returns?

CNAV currently has the higher Sharpe Ratio (1.89 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.