ESMV vs. CDC
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) are both Low Volatility funds - ESMV tracks the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross while CDC tracks the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. Both are passively managed. Over the past 3 years, ESMV returned 10.25%/yr vs 13.45%/yr for CDC. Their 0.71 correlation means they have sometimes moved together and sometimes differently. ESMV charges 0.18%/yr vs 0.37%/yr for CDC.
Performance
ESMV vs. CDC - Performance Comparison
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Returns By Period
In the year-to-date period, ESMV achieves a 7.33% return, which is significantly lower than CDC's 17.48% return.
ESMV
- 1D
- 0.22%
- 1M
- -0.16%
- 6M
- 6.27%
- YTD
- 7.33%
- 1Y
- 9.71%
- 3Y*
- 10.25%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.96%
CDC
- 1D
- -0.37%
- 1M
- 0.43%
- 6M
- 10.50%
- YTD
- 17.48%
- 1Y
- 22.44%
- 3Y*
- 13.45%
- 5Y*
- 6.78%
- 10Y*
- 10.37%
- ALL TIME*
- 10.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.05M | $965.48K | $1.21M | |
| $7.55K | $9.03K | $12.67K |
ESMV vs. CDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 7.33% | 5.34% | 13.06% | 12.20% | -11.08% | 3.13% |
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF | 17.48% | 8.96% | 14.48% | -4.99% | -7.86% | 3.54% |
Correlation
The correlation between ESMV and CDC is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2021 | 0.71 |
The correlation between ESMV and CDC shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ESMV vs. CDC — Risk / Return Rank
ESMV
CDC
ESMV vs. CDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). 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.
| ESMV | CDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.36 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 3.90 | -2.58 |
| Martin ratioReturn relative to average drawdown | 4.05 | 13.80 | -9.75 |
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Drawdowns
ESMV vs. CDC - Drawdown Comparison
The maximum ESMV drawdown since its inception was -19.77%, smaller than the maximum CDC drawdown of -21.37%. Use the drawdown chart below to compare losses from any high point for ESMV and CDC.
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Drawdown Indicators
| ESMV | CDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | -21.37% | +1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -5.67% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -12.70% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.37% | — |
Current DrawdownCurrent decline from peak | -0.51% | -2.22% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -5.18% | -5.05% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 1.60% | +0.68% |
Volatility
ESMV vs. CDC - Volatility Comparison
The current volatility for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) is 2.50%, while VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) has a volatility of 4.16%. This indicates that ESMV experiences smaller price fluctuations and is considered to be less risky than CDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESMV | CDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 4.16% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 6.60% | 7.81% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.04% | 10.33% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 12.57% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 13.21% | -0.10% |
ESMV vs. CDC - Expense Ratio Comparison
ESMV has a 0.18% expense ratio, which is lower than CDC's 0.37% expense ratio.
Dividends
ESMV vs. CDC - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.50%, less than CDC's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF | 3.06% | 3.36% | 3.32% | 4.24% | 3.48% | 2.65% | 2.48% | 3.04% | 3.37% | 2.81% | 2.99% | 3.17% |
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.50% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESMV and CDC have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDC has higher volatility (4.16%) compared to ESMV (2.50%). In terms of maximum drawdown, ESMV dropped -19.77% vs CDC's -21.37%.
On 3-year performance, CDC leads with 13.45% vs 10.25% for ESMV. On fees, ESMV is cheaper at 0.18% per year. On volatility, ESMV has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CDC has performed better with a 13.45% return vs 10.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESMV is cheaper with a 0.18% expense ratio, compared with 0.37% for CDC.
CDC has the higher dividend yield at 3.06%, compared with 1.50% for ESMV.
ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. They also come from different issuers: iShares and Crestview. Their fees differ too: 0.18% for ESMV and 0.37% for CDC.
CDC currently has the higher Sharpe Ratio (2.14 vs 0.93), 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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