IVSS vs. VFMV

Last updated Jun 4, 2026

IVSS (Applied Finance IVS US SMID ETF) and VFMV (Vanguard U.S. Minimum Volatility ETF) are both Mid Cap Blend Equities funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. IVSS charges 0.59%/yr vs 0.13%/yr for VFMV.

Performance

IVSS vs. VFMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS US SMID ETF (IVSS) and Vanguard U.S. Minimum Volatility ETF (VFMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSS achieves a 11.78% return, which is significantly higher than VFMV's 8.53% return.

IVSS

• 1D: -0.96%
• 1M: 1.51%
• YTD: 11.78%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VFMV

• 1D: -0.14%
• 1M: 1.30%
• YTD: 8.53%
• 6M: 8.37%
• 1Y: 13.05%
• 3Y*: 14.70%
• 5Y*: 9.82%
• 10Y*: —

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

IVSS vs. VFMV - Yearly Performance Comparison

	2026 (YTD)	2025
IVSS Applied Finance IVS US SMID ETF	11.78%	-0.02%
VFMV Vanguard U.S. Minimum Volatility ETF	8.53%	-0.32%

Correlation

The correlation between IVSS and VFMV is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.79

Return for Risk

IVSS vs. VFMV — Risk / Return Rank

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

VFMV

VFMV Risk / Return Rank: 43
VFMV Sharpe Ratio Rank: 41
VFMV Sortino Ratio Rank: 42
VFMV Omega Ratio Rank: 39
VFMV Calmar Ratio Rank: 43
VFMV Martin Ratio Rank: 50

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.

IVSS vs. VFMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS US SMID ETF (IVSS) and Vanguard U.S. Minimum Volatility ETF (VFMV). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IVSS	VFMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.49	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.69	+1.00

Drawdowns

IVSS vs. VFMV - Drawdown Comparison

The maximum IVSS drawdown since its inception was -8.31%, smaller than the maximum VFMV drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for IVSS and VFMV.

Drawdown Indicators

	IVSS	VFMV	Difference
Max Drawdown Largest peak-to-trough decline	-8.31%	-33.64%	+25.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.41%	—
Current Drawdown Current decline from peak	-0.96%	-1.02%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.84%	-3.64%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.53%	—

Volatility

Volatility by Period

	IVSS	VFMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.19%	8.80%	+6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.19%	11.75%	+3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	14.25%	+0.94%

IVSS vs. VFMV - Expense Ratio Comparison

IVSS has a 0.59% expense ratio, which is higher than VFMV's 0.13% expense ratio.

Dividends

IVSS vs. VFMV - Dividend Comparison

IVSS's dividend yield for the trailing twelve months is around 0.07%, less than VFMV's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IVSS Applied Finance IVS US SMID ETF	0.07%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VFMV Vanguard U.S. Minimum Volatility ETF	1.93%	2.12%	1.46%	2.20%	2.08%	1.31%	2.14%	2.43%	2.29%

Frequently Asked Questions

Can I hold both IVSS and VFMV in my portfolio?

IVSS and VFMV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSS or VFMV?

On fees, VFMV is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSS or VFMV?

VFMV is cheaper with a 0.13% expense ratio, compared with 0.59% for IVSS.

Which ETF pays a higher dividend yield, IVSS or VFMV?

VFMV has the higher dividend yield at 1.93%, compared with 0.07% for IVSS.

What is the main difference between IVSS and VFMV?

They also come from different issuers: Applied Finance and Vanguard. Their fees differ too: 0.59% for IVSS and 0.13% for VFMV.