MODL vs. USMV

Last updated Jul 14, 2026

MODL (Victoryshares Westend U.S. Sector ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. MODL is actively managed, while USMV is passively managed. Over the past 3 years, MODL returned 18.92%/yr vs 11.43%/yr for USMV. A 0.71 correlation means they provide meaningful diversification when combined. MODL charges 0.46%/yr vs 0.15%/yr for USMV.

Performance

MODL vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victoryshares Westend U.S. Sector ETF (MODL) 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, MODL achieves a 8.54% return, which is significantly higher than USMV's 4.64% return.

MODL

• 1D: -0.60%
• 1M: 2.21%
• 6M: 7.17%
• YTD: 8.54%
• 1Y: 19.89%
• 3Y*: 18.92%
• 5Y*: —
• 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)

MODL vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MODL Victoryshares Westend U.S. Sector ETF	8.54%	18.99%	24.73%	23.74%	6.45%
USMV iShares MSCI USA Min Vol Factor ETF	4.64%	7.65%	15.74%	10.33%	9.39%

Correlation

The correlation between MODL and USMV is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.71

The correlation between MODL and USMV shifts across timeframes, from 0.55 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

MODL vs. USMV - Sectors Allocation Comparison

Sectors	MODL	USMV
Technology	32.7%	33.9%
Financial Services	19.5%	11.7%
Healthcare	17.9%	12.6%
Communication Services	10.4%	6.2%
Consumer Cyclical	5.3%	5.7%
Utilities	4.8%	6.9%
Basic Materials	4.5%	2.4%
Industrials	4.4%	6.1%
Energy	0.0%	2.7%
Consumer Defensive	0.0%	9.4%
Real Estate	-	2.5%

Return for Risk

MODL vs. USMV — Risk / Return Rank

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

MODL

MODL Risk / Return Rank: 63
MODL Sharpe Ratio Rank: 66
MODL Sortino Ratio Rank: 66
MODL Omega Ratio Rank: 65
MODL Calmar Ratio Rank: 53
MODL Martin Ratio Rank: 65

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.

MODL vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) 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.

	MODL	USMV	Difference
Sharpe ratio: Return per unit of total volatility	1.72	0.84	+0.88
Sortino ratio: Return per unit of downside risk	2.43	1.23	+1.20
Omega ratio: Gain probability vs. loss probability	1.31	1.15	+0.16
Calmar ratio: Return relative to maximum drawdown	2.11	1.10	+1.01
Martin ratio: Return relative to average drawdown	9.25	3.61	+5.64

MODL vs. USMV - Sharpe Ratio Comparison

The current MODL Sharpe Ratio is 1.72, which is higher than the USMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of MODL 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

MODL vs. USMV - Drawdown Comparison

The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for MODL and USMV.

Drawdown Indicators

	MODL	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-17.60%	-33.10%	+15.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-6.46%	-3.00%
Max Drawdown (3Y) Largest decline over 3 years	-17.60%	-9.36%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.10%	—
Current Drawdown Current decline from peak	-0.60%	-0.54%	-0.06%
Average Drawdown Average peak-to-trough decline	-2.01%	-2.87%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.97%	+0.19%

Volatility

MODL vs. USMV - Volatility Comparison

Victoryshares Westend U.S. Sector ETF (MODL) has a higher volatility of 3.59% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.54%. This indicates that MODL'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

	MODL	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.54%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	6.22%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	8.48%	+3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	12.36%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	14.49%	+0.08%

MODL vs. USMV - Expense Ratio Comparison

MODL has a 0.46% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

MODL vs. USMV - Dividend Comparison

MODL's dividend yield for the trailing twelve months is around 0.69%, less than USMV's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MODL Victoryshares Westend U.S. Sector ETF	0.69%	0.67%	0.83%	1.02%	0.39%	0.00%	0.00%	0.00%	0.00%	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 MODL and USMV in my portfolio?

MODL and USMV have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MODL or USMV?

MODL has higher volatility (3.59%) compared to USMV (2.54%). In terms of maximum drawdown, MODL dropped -17.60% vs USMV's -33.10%.

Which ETF is better, MODL or USMV?

On 3-year performance, MODL leads with 18.92% vs 11.43% for USMV. On fees, USMV is cheaper at 0.15% 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, MODL or USMV?

Over the 3-year period, MODL has performed better with a 18.92% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MODL or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 0.46% for MODL.

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

USMV has the higher dividend yield at 1.48%, compared with 0.69% for MODL.

What is the main difference between MODL and USMV?

They also come from different issuers: Victory and iShares. Their fees differ too: 0.46% for MODL and 0.15% for USMV.

Which has better risk-adjusted returns?

MODL currently has the higher Sharpe Ratio (1.72 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.