ESGV vs. USMV

Last updated Jul 14, 2026

ESGV (Vanguard ESG U.S. Stock ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - ESGV tracks the FTSE US All Cap Choice Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 5 years, ESGV returned 11.58%/yr vs 7.16%/yr for USMV. A 0.77 correlation means they provide meaningful diversification when combined. ESGV charges 0.09%/yr vs 0.15%/yr for USMV.

Performance

ESGV vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG U.S. Stock ETF (ESGV) 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, ESGV achieves a 10.07% return, which is significantly higher than USMV's 4.64% return.

ESGV

• 1D: -0.95%
• 1M: 1.38%
• 6M: 8.12%
• YTD: 10.07%
• 1Y: 21.17%
• 3Y*: 19.79%
• 5Y*: 11.58%
• 10Y*: —

USMV

• 1D: 0.06%
• 1M: 2.16%
• 6M: 3.87%
• YTD: 4.64%
• 1Y: 7.10%
• 3Y*: 11.43%
• 5Y*: 7.16%
• 10Y*: 9.58%

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

ESGV vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ESGV Vanguard ESG U.S. Stock ETF	10.07%	16.48%	24.69%	30.79%	-24.04%	26.55%	25.69%	33.36%	-14.45%
USMV iShares MSCI USA Min Vol Factor ETF	4.64%	7.65%	15.74%	10.33%	-9.43%	20.85%	5.64%	27.69%	-7.27%

Correlation

The correlation between ESGV and USMV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 20, 2018	0.77

Over the past year, the correlation between ESGV and USMV has dropped to 0.44 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

ESGV vs. USMV - Sectors Allocation Comparison

Sectors	ESGV	USMV
Technology	43.1%	33.9%
Communication Services	11.8%	6.2%
Consumer Cyclical	11.5%	5.7%
Financial Services	11.3%	11.7%
Healthcare	9.5%	12.6%
Industrials	4.2%	6.1%
Consumer Defensive	3.6%	9.4%
Real Estate	2.6%	2.5%
Basic Materials	1.9%	2.4%
Utilities	0.2%	6.9%
Energy	0.1%	2.7%

Return for Risk

ESGV vs. USMV — Risk / Return Rank

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

ESGV

ESGV Risk / Return Rank: 53
ESGV Sharpe Ratio Rank: 55
ESGV Sortino Ratio Rank: 54
ESGV Omega Ratio Rank: 54
ESGV Calmar Ratio Rank: 46
ESGV Martin Ratio Rank: 55

USMV

USMV Risk / Return Rank: 28
USMV Sharpe Ratio Rank: 29
USMV Sortino Ratio Rank: 26
USMV Omega Ratio Rank: 25
USMV Calmar Ratio Rank: 28
USMV Martin Ratio Rank: 31

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.

ESGV vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG U.S. Stock ETF (ESGV) 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.

	ESGV	USMV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.84	+0.66
Sortino ratio: Return per unit of downside risk	2.09	1.23	+0.86
Omega ratio: Gain probability vs. loss probability	1.27	1.15	+0.12
Calmar ratio: Return relative to maximum drawdown	1.83	1.10	+0.73
Martin ratio: Return relative to average drawdown	7.52	3.61	+3.91

ESGV vs. USMV - Sharpe Ratio Comparison

The current ESGV Sharpe Ratio is 1.50, which is higher than the USMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of ESGV 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

ESGV vs. USMV - Drawdown Comparison

The maximum ESGV drawdown since its inception was -33.66%, roughly equal to the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for ESGV and USMV.

Drawdown Indicators

	ESGV	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-33.66%	-33.10%	-0.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-6.46%	-5.14%
Max Drawdown (3Y) Largest decline over 3 years	-20.41%	-9.36%	-11.05%
Max Drawdown (5Y) Largest decline over 5 years	-28.81%	-17.93%	-10.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.10%	—
Current Drawdown Current decline from peak	-1.48%	-0.54%	-0.94%
Average Drawdown Average peak-to-trough decline	-6.37%	-2.87%	-3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	1.97%	+0.85%

Volatility

ESGV vs. USMV - Volatility Comparison

Vanguard ESG U.S. Stock ETF (ESGV) has a higher volatility of 4.70% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.54%. This indicates that ESGV'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

	ESGV	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	2.54%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	6.22%	+5.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.21%	8.48%	+5.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.50%	12.36%	+6.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	14.49%	+6.06%

ESGV vs. USMV - Expense Ratio Comparison

ESGV has a 0.09% expense ratio, which is lower than USMV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ESGV vs. USMV - Dividend Comparison

ESGV's dividend yield for the trailing twelve months is around 0.87%, less than USMV's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESGV Vanguard ESG U.S. Stock ETF	0.87%	0.91%	1.04%	1.16%	1.42%	0.95%	1.11%	1.27%	0.28%	0.00%	0.00%	0.00%
USMV iShares MSCI USA Min Vol Factor ETF	1.48%	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 ESGV and USMV in my portfolio?

ESGV and USMV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESGV or USMV?

ESGV has higher volatility (4.70%) compared to USMV (2.54%). In terms of maximum drawdown, ESGV dropped -33.66% vs USMV's -33.10%.

Which ETF is better, ESGV or USMV?

On 5-year performance, ESGV leads with 11.58% vs 7.16% for USMV. On fees, ESGV is cheaper at 0.09% per year. On volatility, USMV has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESGV or USMV?

Over the 5-year period, ESGV has performed better with a 11.58% return vs 7.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESGV or USMV?

ESGV is cheaper with a 0.09% expense ratio, compared with 0.15% for USMV.

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

USMV has the higher dividend yield at 1.48%, compared with 0.87% for ESGV.

What is the main difference between ESGV and USMV?

ESGV tracks FTSE US All Cap Choice Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for ESGV and 0.15% for USMV.

Which has better risk-adjusted returns?

ESGV currently has the higher Sharpe Ratio (1.50 vs 0.84), 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.