MBB vs. USMV

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MBS Bond ETF (MBB) and iShares MSCI USA Minimum Volatility Factor ETF (USMV).

MBB and USMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MBB is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Mar 16, 2007. USMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Oct 18, 2011. Both MBB and USMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MBB vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MBS Bond ETF (MBB) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

MBB vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MBB iShares MBS Bond ETF	0.41%	8.38%	1.31%	5.01%	-11.74%	-1.43%	4.08%	6.18%	0.82%	2.49%
USMV iShares MSCI USA Minimum Volatility Factor ETF	-1.10%	7.65%	15.74%	10.33%	-9.43%	20.85%	5.64%	27.69%	1.33%	18.91%

Returns By Period

In the year-to-date period, MBB achieves a 0.41% return, which is significantly higher than USMV's -1.10% return. Over the past 10 years, MBB has underperformed USMV with an annualized return of 1.34%, while USMV has yielded a comparatively higher 9.65% annualized return.

MBB

• 1D: 0.24%
• 1M: -1.69%
• YTD: 0.41%
• 6M: 1.92%
• 1Y: 5.63%
• 3Y*: 4.09%
• 5Y*: 0.40%
• 10Y*: 1.34%

USMV

• 1D: 1.15%
• 1M: -4.79%
• YTD: -1.10%
• 6M: -1.72%
• 1Y: 0.57%
• 3Y*: 10.28%
• 5Y*: 7.61%
• 10Y*: 9.65%

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

MBB vs. USMV - Expense Ratio Comparison

MBB has a 0.06% 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%.

USMV

iShares MSCI USA Minimum Volatility Factor ETF

MBB

iShares MBS Bond ETF

Return for Risk

MBB vs. USMV — Risk / Return Rank

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

MBB

MBB Risk / Return Rank: 67
MBB Sharpe Ratio Rank: 67
MBB Sortino Ratio Rank: 67
MBB Omega Ratio Rank: 57
MBB Calmar Ratio Rank: 81
MBB Martin Ratio Rank: 63

USMV

USMV Risk / Return Rank: 15
USMV Sharpe Ratio Rank: 14
USMV Sortino Ratio Rank: 12
USMV Omega Ratio Rank: 13
USMV Calmar Ratio Rank: 17
USMV Martin Ratio Rank: 19

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.

MBB vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MBS Bond ETF (MBB) and iShares MSCI USA Minimum Volatility 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.

	MBB	USMV	Difference
Sharpe ratio Return per unit of total volatility	1.14	0.05	+1.09
Sortino ratio Return per unit of downside risk	1.63	0.15	+1.48
Omega ratio Gain probability vs. loss probability	1.20	1.02	+0.18
Calmar ratio Return relative to maximum drawdown	2.18	0.18	+2.00
Martin ratio Return relative to average drawdown	6.00	0.79	+5.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MBB vs. USMV - Sharpe Ratio Comparison

The current MBB Sharpe Ratio is 1.14, which is higher than the USMV Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of MBB and USMV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MBB	USMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	0.05	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.62	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.67	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.85	-0.27

Correlation

The correlation between MBB and USMV is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MBB vs. USMV - Dividend Comparison

MBB's dividend yield for the trailing twelve months is around 4.22%, more than USMV's 1.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBB iShares MBS Bond ETF	4.22%	4.21%	3.94%	3.40%	2.31%	1.05%	2.10%	2.77%	2.64%	2.23%	2.58%	2.66%
USMV iShares MSCI USA Minimum Volatility Factor ETF	1.58%	1.49%	1.67%	1.82%	1.62%	1.26%	1.81%	1.88%	2.12%	1.77%	2.22%	2.02%

Drawdowns

MBB vs. USMV - Drawdown Comparison

The maximum MBB drawdown since its inception was -17.64%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for MBB and USMV.

Drawdown Indicators

	MBB	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-17.64%	-33.10%	+15.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-8.91%	+6.27%
Max Drawdown (5Y) Largest decline over 5 years	-17.19%	-17.93%	+0.74%
Max Drawdown (10Y) Largest decline over 10 years	-17.64%	-33.10%	+15.46%
Current Drawdown Current decline from peak	-1.69%	-4.79%	+3.10%
Average Drawdown Average peak-to-trough decline	-2.36%	-2.88%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.00%	-1.04%

Volatility

MBB vs. USMV - Volatility Comparison

The current volatility for iShares MBS Bond ETF (MBB) is 1.98%, while iShares MSCI USA Minimum Volatility Factor ETF (USMV) has a volatility of 3.03%. This indicates that MBB experiences smaller price fluctuations and is considered to be less risky than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBB	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	3.03%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	6.08%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	4.97%	12.54%	-7.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.77%	12.39%	-5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.27%	14.51%	-9.24%