MVUS.L vs. USMV

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) and iShares MSCI USA Minimum Volatility Factor ETF (USMV).

MVUS.L and USMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MVUS.L is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on Feb 21, 2018. 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 MVUS.L 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

MVUS.L vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

MVUS.L vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVUS.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	-2.89%	3.88%	20.71%	3.83%	-0.36%	26.59%	3.87%	26.86%	-0.36%	6.22%
USMV iShares MSCI USA Minimum Volatility Factor ETF	0.45%	-0.02%	17.77%	4.81%	1.34%	21.99%	2.54%	22.83%	7.34%	8.63%

Different Trading Currencies

MVUS.L is traded in GBp, while USMV is traded in USD. To make them comparable, the USMV values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, MVUS.L achieves a -2.89% return, which is significantly lower than USMV's 0.45% return. Both investments have delivered pretty close results over the past 10 years, with MVUS.L having a 10.56% annualized return and USMV not far behind at 10.42%.

MVUS.L

• 1D: 0.36%
• 1M: -4.13%
• YTD: -2.89%
• 6M: -0.56%
• 1Y: 1.79%
• 3Y*: 8.67%
• 5Y*: 9.00%
• 10Y*: 10.56%

USMV

• 1D: -0.31%
• 1M: -3.66%
• YTD: 0.45%
• 6M: 0.05%
• 1Y: -1.95%
• 3Y*: 7.64%
• 5Y*: 8.51%
• 10Y*: 10.42%

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

MVUS.L vs. USMV - Expense Ratio Comparison

MVUS.L has a 0.20% expense ratio, which is higher than USMV's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MVUS.L

iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)

USMV

iShares MSCI USA Minimum Volatility Factor ETF

Return for Risk

MVUS.L vs. USMV — Risk / Return Rank

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

MVUS.L

MVUS.L Risk / Return Rank: 16
MVUS.L Sharpe Ratio Rank: 15
MVUS.L Sortino Ratio Rank: 13
MVUS.L Omega Ratio Rank: 14
MVUS.L Calmar Ratio Rank: 19
MVUS.L Martin Ratio Rank: 20

USMV

USMV Risk / Return Rank: 12
USMV Sharpe Ratio Rank: 13
USMV Sortino Ratio Rank: 11
USMV Omega Ratio Rank: 11
USMV Calmar Ratio Rank: 13
USMV Martin Ratio Rank: 14

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.

MVUS.L vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) 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.

	MVUS.L	USMV	Difference
Sharpe ratio Return per unit of total volatility	0.15	-0.15	+0.30
Sortino ratio Return per unit of downside risk	0.28	-0.12	+0.40
Omega ratio Gain probability vs. loss probability	1.04	0.98	+0.05
Calmar ratio Return relative to maximum drawdown	0.34	-0.23	+0.57
Martin ratio Return relative to average drawdown	1.17	-0.59	+1.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVUS.L vs. USMV - Sharpe Ratio Comparison

The current MVUS.L Sharpe Ratio is 0.15, which is higher than the USMV Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of MVUS.L 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

	MVUS.L	USMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	-0.15	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.69	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.68	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.89	+0.02

Correlation

The correlation between MVUS.L and USMV is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MVUS.L vs. USMV - Dividend Comparison

MVUS.L has not paid dividends to shareholders, while USMV's dividend yield for the trailing twelve months is around 1.59%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVUS.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USMV iShares MSCI USA Minimum Volatility Factor ETF	1.59%	1.49%	1.67%	1.82%	1.62%	1.26%	1.81%	1.88%	2.12%	1.77%	2.22%	2.02%

Drawdowns

MVUS.L vs. USMV - Drawdown Comparison

The maximum MVUS.L drawdown since its inception was -24.85%, roughly equal to the maximum USMV drawdown of -25.08%. Use the drawdown chart below to compare losses from any high point for MVUS.L and USMV.

Drawdown Indicators

	MVUS.L	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-24.85%	-33.10%	+8.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-8.91%	+0.04%
Max Drawdown (5Y) Largest decline over 5 years	-14.19%	-17.93%	+3.74%
Max Drawdown (10Y) Largest decline over 10 years	-24.85%	-33.10%	+8.25%
Current Drawdown Current decline from peak	-4.13%	-4.87%	+0.74%
Average Drawdown Average peak-to-trough decline	-3.46%	-2.88%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.03%	-0.15%

Volatility

MVUS.L vs. USMV - Volatility Comparison

The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (MVUS.L) is 2.85%, while iShares MSCI USA Minimum Volatility Factor ETF (USMV) has a volatility of 3.04%. This indicates that MVUS.L 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

	MVUS.L	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	3.04%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	6.04%	6.95%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	12.98%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.83%	12.35%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	15.41%	-1.58%