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MOAT vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MOAT vs. USMV

Last updated Jul 15, 2026
Documentation

MOAT (VanEck Morningstar Wide Moat ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - MOAT tracks the Morningstar Wide Moat Focus Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 10 years, MOAT returned 13.50%/yr vs 9.48%/yr for USMV. A 0.77 correlation means they provide meaningful diversification when combined. MOAT charges 0.47%/yr vs 0.15%/yr for USMV.

Performance

MOAT vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat ETF (MOAT) 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, MOAT achieves a 2.17% return, which is significantly lower than USMV's 3.64% return. Over the past 10 years, MOAT has outperformed USMV with an annualized return of 13.50%, while USMV has yielded a comparatively lower 9.48% annualized return.

MOAT

1D
-0.55%
1M
2.85%
6M
-0.93%
YTD
2.17%
1Y
11.60%
3Y*
10.36%
5Y*
8.59%
10Y*
13.50%

USMV

1D
-0.96%
1M
1.18%
6M
3.50%
YTD
3.64%
1Y
5.50%
3Y*
11.07%
5Y*
6.93%
10Y*
9.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MOAT vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MOAT
VanEck Morningstar Wide Moat ETF		2.17%13.20%10.73%31.89%-13.66%24.12%14.84%34.79%-1.28%23.18%
USMV
iShares MSCI USA Min Vol Factor ETF		3.64%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%18.91%

Correlation

The correlation between MOAT and USMV is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.72

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

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

0.78

Correlation (10Y)
Calculated over the trailing 10-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Apr 25, 2012

0.77

The correlation between MOAT and USMV has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

MOAT vs. USMV - Sectors Allocation Comparison

Sectors
MOAT
USMV

Technology

33.8%
33.9%

Consumer Defensive

17.0%
9.4%

Healthcare

15.9%
12.6%

Industrials

13.8%
6.1%

Financial Services

9.0%
11.7%

Consumer Cyclical

7.3%
5.7%

Communication Services

2.4%
6.2%

Real Estate

0.8%
2.5%

Basic Materials

-

2.4%

Energy

-

2.7%

Utilities

-

6.9%

Technology

MOAT
33.8%
USMV
33.9%

Consumer Defensive

MOAT
17.0%
USMV
9.4%

Healthcare

MOAT
15.9%
USMV
12.6%

Industrials

MOAT
13.8%
USMV
6.1%

Financial Services

MOAT
9.0%
USMV
11.7%

Consumer Cyclical

MOAT
7.3%
USMV
5.7%

Communication Services

MOAT
2.4%
USMV
6.2%

Real Estate

MOAT
0.8%
USMV
2.5%

Basic Materials

MOAT

-

USMV
2.4%

Energy

MOAT

-

USMV
2.7%

Utilities

MOAT

-

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.

VanEck Morningstar Wide Moat ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with MOAT:
MOAT vs. SPYMOAT vs. VOOMOAT vs. SCHDMOAT vs. BRK-AMOAT vs. IVVMOAT vs. VTIMOAT vs. IOO
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

MOAT vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MOAT
MOAT Risk / Return Rank: 2626
Overall Rank
MOAT Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
MOAT Sortino Ratio Rank: 2828
Sortino Ratio Rank
MOAT Omega Ratio Rank: 2525
Omega Ratio Rank
MOAT Calmar Ratio Rank: 2424
Calmar Ratio Rank
MOAT Martin Ratio Rank: 2626
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2222
Overall Rank
USMV Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2121
Sortino Ratio Rank
USMV Omega Ratio Rank: 2020
Omega Ratio Rank
USMV Calmar Ratio Rank: 2323
Calmar Ratio Rank
USMV Martin Ratio Rank: 2626
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.

MOAT vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat ETF (MOAT) 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.

MOATUSMVDifference
Sharpe ratioReturn per unit of total volatility
0.84
0.65

+0.19

Sortino ratioReturn per unit of downside risk
1.28
0.96

+0.32

Omega ratioGain probability vs. loss probability

1.15

1.11

+0.03

Calmar ratioReturn relative to maximum drawdown

0.94

0.86

+0.08

Martin ratioReturn relative to average drawdown

2.78

2.80

-0.01

MOAT vs. USMV - Sharpe Ratio Comparison

The current MOAT Sharpe Ratio is 0.84, which is comparable to the USMV Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of MOAT 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

MOAT vs. USMV - Drawdown Comparison

The maximum MOAT drawdown since its inception was -33.31%, roughly equal to the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for MOAT and USMV.

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Drawdown Indicators

MOATUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-33.31%

-33.10%

-0.21%

Max Drawdown (1Y)

Largest decline over 1 year

-12.43%

-6.46%

-5.97%

Max Drawdown (3Y)

Largest decline over 3 years

-21.44%

-9.36%

-12.08%

Max Drawdown (5Y)

Largest decline over 5 years

-23.96%

-17.93%

-6.03%

Max Drawdown (10Y)

Largest decline over 10 years

-33.31%

-33.10%

-0.21%

Current Drawdown

Current decline from peak

-1.73%

-1.49%

-0.24%

Average Drawdown

Average peak-to-trough decline

-3.83%

-2.87%

-0.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.18%

1.97%

+2.21%

Volatility

MOAT vs. USMV - Volatility Comparison

VanEck Morningstar Wide Moat ETF (MOAT) has a higher volatility of 4.09% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.75%. This indicates that MOAT'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

MOATUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

2.75%

+1.34%

Volatility (6M)

Calculated over the trailing 6-month period

10.26%

6.30%

+3.96%

Volatility (1Y)

Calculated over the trailing 1-year period

13.91%

8.52%

+5.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.26%

12.37%

+5.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.60%

14.50%

+4.10%

MOAT vs. USMV - Expense Ratio Comparison

MOAT has a 0.47% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

MOAT vs. USMV - Dividend Comparison

MOAT's dividend yield for the trailing twelve months is around 1.33%, less than USMV's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
MOAT
VanEck Morningstar Wide Moat ETF		1.33%1.36%1.37%0.86%1.25%1.08%1.46%1.31%1.79%1.07%1.17%2.13%
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

MOAT and USMV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MOAT has higher volatility (4.09%) compared to USMV (2.75%). In terms of maximum drawdown, MOAT dropped -33.31% vs USMV's -33.10%.

On 10-year performance, MOAT leads with 13.50% vs 9.48% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MOAT has performed better with a 13.50% return vs 9.48%. 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 0.47% for MOAT.

USMV has the higher dividend yield at 1.49%, compared with 1.33% for MOAT.

MOAT tracks Morningstar Wide Moat Focus Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.47% for MOAT and 0.15% for USMV.

MOAT currently has the higher Sharpe Ratio (0.84 vs 0.65), 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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