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DEMZ vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DEMZ vs. USMV

Last updated Jul 17, 2026
Documentation

DEMZ (Democratic Large Cap Core ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - DEMZ tracks the Democratic Large Cap Core Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 5 years, DEMZ returned 12.91%/yr vs 6.96%/yr for USMV. A 0.70 correlation means they provide meaningful diversification when combined. DEMZ charges 0.45%/yr vs 0.15%/yr for USMV.

Performance

DEMZ vs. USMV - Performance Comparison

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

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Returns By Period

In the year-to-date period, DEMZ achieves a 11.16% return, which is significantly higher than USMV's 3.90% return.

DEMZ

1D
0.38%
1M
1.55%
6M
7.78%
YTD
11.16%
1Y
22.39%
3Y*
20.59%
5Y*
12.91%
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)

DEMZ vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
DEMZ
Democratic Large Cap Core ETF		11.16%19.84%22.89%24.43%-19.01%32.65%11.27%
USMV
iShares MSCI USA Min Vol Factor ETF		3.90%7.65%15.74%10.33%-9.43%20.85%9.01%

Correlation

The correlation between DEMZ 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

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Nov 3, 2020

0.70

Over the past year, the correlation between DEMZ and USMV has dropped to 0.49 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

DEMZ vs. USMV - Sectors Allocation Comparison

Sectors
DEMZ
USMV

Technology

48.2%
33.9%

Communication Services

13.4%
6.2%

Industrials

8.3%
6.1%

Financial Services

8.1%
11.7%

Consumer Cyclical

7.8%
5.7%

Healthcare

5.5%
12.6%

Consumer Defensive

5.2%
9.4%

Real Estate

3.5%
2.5%

Basic Materials

-

2.4%

Energy

-

2.7%

Utilities

-

6.9%

Technology

DEMZ
48.2%
USMV
33.9%

Communication Services

DEMZ
13.4%
USMV
6.2%

Industrials

DEMZ
8.3%
USMV
6.1%

Financial Services

DEMZ
8.1%
USMV
11.7%

Consumer Cyclical

DEMZ
7.8%
USMV
5.7%

Healthcare

DEMZ
5.5%
USMV
12.6%

Consumer Defensive

DEMZ
5.2%
USMV
9.4%

Real Estate

DEMZ
3.5%
USMV
2.5%

Basic Materials

DEMZ

-

USMV
2.4%

Energy

DEMZ

-

USMV
2.7%

Utilities

DEMZ

-

USMV
6.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Democratic Large Cap Core ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with DEMZ:
DEMZ vs. MAGADEMZ vs. SPYDEMZ vs. VOODEMZ vs. FSELXDEMZ vs. QQQDEMZ vs. VTIDEMZ vs. BOTZ
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

DEMZ vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DEMZ
DEMZ Risk / Return Rank: 5151
Overall Rank
DEMZ Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
DEMZ Sortino Ratio Rank: 5454
Sortino Ratio Rank
DEMZ Omega Ratio Rank: 5151
Omega Ratio Rank
DEMZ Calmar Ratio Rank: 4444
Calmar Ratio Rank
DEMZ Martin Ratio Rank: 5050
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2525
Overall Rank
USMV Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2323
Sortino Ratio Rank
USMV Omega Ratio Rank: 2222
Omega Ratio Rank
USMV Calmar Ratio Rank: 2525
Calmar Ratio Rank
USMV Martin Ratio Rank: 2929
Martin Ratio Rank
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.

DEMZ vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Democratic Large Cap Core ETF (DEMZ) 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.

DEMZUSMVDifference
Sharpe ratioReturn per unit of total volatility
1.53
0.74

+0.79

Sortino ratioReturn per unit of downside risk
2.14
1.10

+1.05

Omega ratioGain probability vs. loss probability

1.26

1.13

+0.13

Calmar ratioReturn relative to maximum drawdown

1.83

0.98

+0.86

Martin ratioReturn relative to average drawdown

6.75

3.18

+3.57

DEMZ vs. USMV - Sharpe Ratio Comparison

The current DEMZ Sharpe Ratio is 1.53, which is higher than the USMV Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of DEMZ 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.

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Drawdowns

DEMZ vs. USMV - Drawdown Comparison

The maximum DEMZ drawdown since its inception was -27.17%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for DEMZ and USMV.

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Drawdown Indicators

DEMZUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-27.17%

-33.10%

+5.93%

Max Drawdown (1Y)

Largest decline over 1 year

-12.28%

-6.46%

-5.82%

Max Drawdown (3Y)

Largest decline over 3 years

-18.69%

-9.36%

-9.33%

Max Drawdown (5Y)

Largest decline over 5 years

-27.17%

-17.93%

-9.24%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.10%

—

Current Drawdown

Current decline from peak

-0.68%

-1.24%

+0.56%

Average Drawdown

Average peak-to-trough decline

-6.00%

-2.87%

-3.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.33%

1.98%

+1.35%

Volatility

DEMZ vs. USMV - Volatility Comparison

Democratic Large Cap Core ETF (DEMZ) has a higher volatility of 4.26% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 3.00%. This indicates that DEMZ'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.

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Volatility by Period

DEMZUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

3.00%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

11.91%

6.41%

+5.50%

Volatility (1Y)

Calculated over the trailing 1-year period

14.75%

8.53%

+6.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.96%

12.38%

+5.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.45%

14.50%

+2.95%

DEMZ vs. USMV - Expense Ratio Comparison

DEMZ has a 0.45% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

DEMZ vs. USMV - Dividend Comparison

DEMZ's dividend yield for the trailing twelve months is around 0.88%, less than USMV's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
DEMZ
Democratic Large Cap Core ETF		0.88%0.98%0.53%0.90%0.98%2.46%0.27%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

DEMZ 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.

DEMZ has higher volatility (4.26%) compared to USMV (3.00%). In terms of maximum drawdown, DEMZ dropped -27.17% vs USMV's -33.10%.

On 5-year performance, DEMZ leads with 12.91% vs 6.96% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DEMZ has performed better with a 12.91% return vs 6.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USMV is cheaper with a 0.15% expense ratio, compared with 0.45% for DEMZ.

USMV has the higher dividend yield at 1.49%, compared with 0.88% for DEMZ.

DEMZ tracks Democratic Large Cap Core Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Reflection Asset Management, LLC and iShares. Their fees differ too: 0.45% for DEMZ and 0.15% for USMV.

DEMZ currently has the higher Sharpe Ratio (1.53 vs 0.74), 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.

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