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POWA vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

POWA vs. USMV

Last updated Jul 14, 2026
Documentation

POWA (Invesco Bloomberg Pricing Power ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - POWA tracks the Bloomberg Pricing Power Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 10 years, POWA returned 9.92%/yr vs 9.58%/yr for USMV. Their correlation of 0.88 suggests significant overlap in exposure. POWA charges 0.40%/yr vs 0.15%/yr for USMV.

Performance

POWA vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg Pricing Power ETF (POWA) 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, POWA achieves a -0.82% return, which is significantly lower than USMV's 4.64% return. Both investments have delivered pretty close results over the past 10 years, with POWA having a 9.92% annualized return and USMV not far behind at 9.58%.

POWA

1D
0.03%
1M
0.76%
6M
-3.35%
YTD
-0.82%
1Y
3.36%
3Y*
9.97%
5Y*
7.11%
10Y*
9.92%

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)

POWA vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
POWA
Invesco Bloomberg Pricing Power ETF		-0.82%11.71%13.18%10.58%-7.67%24.93%7.61%27.98%-3.96%21.52%
USMV
iShares MSCI USA Min Vol Factor ETF		4.64%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%18.91%

Correlation

The correlation between POWA and USMV is 0.76, 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

0.76

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

0.83

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

0.89

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

0.89

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2011

0.88

The correlation between POWA and USMV shifts across timeframes, from 0.76 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

POWA vs. USMV - Sectors Allocation Comparison

Sectors
POWA
USMV

Technology

27.1%
33.9%

Industrials

18.7%
6.1%

Healthcare

17.7%
12.6%

Consumer Defensive

15.7%
9.4%

Consumer Cyclical

13.9%
5.7%

Financial Services

2.4%
11.7%

Real Estate

2.4%
2.5%

Communication Services

2.1%
6.2%

Basic Materials

-

2.4%

Energy

-

2.7%

Utilities

-

6.9%

Technology

POWA
27.1%
USMV
33.9%

Industrials

POWA
18.7%
USMV
6.1%

Healthcare

POWA
17.7%
USMV
12.6%

Consumer Defensive

POWA
15.7%
USMV
9.4%

Consumer Cyclical

POWA
13.9%
USMV
5.7%

Financial Services

POWA
2.4%
USMV
11.7%

Real Estate

POWA
2.4%
USMV
2.5%

Communication Services

POWA
2.1%
USMV
6.2%

Basic Materials

POWA

-

USMV
2.4%

Energy

POWA

-

USMV
2.7%

Utilities

POWA

-

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.

Invesco Bloomberg Pricing Power ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with POWA:
POWA vs. GAAPOWA vs. SPMOPOWA vs. AVIEPOWA vs. QQQPOWA vs. RSPPOWA vs. COWGPOWA vs. RSSY
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

POWA vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
POWA
POWA Risk / Return Rank: 1414
Overall Rank
POWA Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
POWA Sortino Ratio Rank: 1313
Sortino Ratio Rank
POWA Omega Ratio Rank: 1313
Omega Ratio Rank
POWA Calmar Ratio Rank: 1414
Calmar Ratio Rank
POWA Martin Ratio Rank: 1414
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2828
Overall Rank
USMV Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2626
Sortino Ratio Rank
USMV Omega Ratio Rank: 2525
Omega Ratio Rank
USMV Calmar Ratio Rank: 2828
Calmar Ratio Rank
USMV Martin Ratio Rank: 3131
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.

POWA vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Pricing Power ETF (POWA) 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.

POWAUSMVDifference
Sharpe ratioReturn per unit of total volatility
0.29
0.84

-0.55

Sortino ratioReturn per unit of downside risk
0.50
1.23

-0.73

Omega ratioGain probability vs. loss probability

1.06

1.15

-0.09

Calmar ratioReturn relative to maximum drawdown

0.35

1.10

-0.76

Martin ratioReturn relative to average drawdown

0.82

3.61

-2.79

POWA vs. USMV - Sharpe Ratio Comparison

The current POWA Sharpe Ratio is 0.29, which is lower than the USMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of POWA 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

POWA vs. USMV - Drawdown Comparison

The maximum POWA drawdown since its inception was -47.91%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for POWA and USMV.

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Drawdown Indicators

POWAUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-47.91%

-33.10%

-14.81%

Max Drawdown (1Y)

Largest decline over 1 year

-9.76%

-6.46%

-3.30%

Max Drawdown (3Y)

Largest decline over 3 years

-15.00%

-9.36%

-5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-17.75%

-17.93%

+0.18%

Max Drawdown (10Y)

Largest decline over 10 years

-36.53%

-33.10%

-3.43%

Current Drawdown

Current decline from peak

-5.03%

-0.54%

-4.49%

Average Drawdown

Average peak-to-trough decline

-6.23%

-2.87%

-3.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.09%

1.97%

+2.12%

Volatility

POWA vs. USMV - Volatility Comparison

Invesco Bloomberg Pricing Power ETF (POWA) has a higher volatility of 2.81% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.54%. This indicates that POWA'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

POWAUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.81%

2.54%

+0.27%

Volatility (6M)

Calculated over the trailing 6-month period

8.95%

6.22%

+2.73%

Volatility (1Y)

Calculated over the trailing 1-year period

11.76%

8.48%

+3.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.93%

12.36%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.04%

14.49%

+1.55%

POWA vs. USMV - Expense Ratio Comparison

POWA has a 0.40% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

POWA vs. USMV - Dividend Comparison

POWA's dividend yield for the trailing twelve months is around 0.95%, less than USMV's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
POWA
Invesco Bloomberg Pricing Power ETF		0.95%0.94%0.79%1.60%1.48%1.06%1.34%1.16%1.39%1.63%2.18%3.31%
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

POWA and USMV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

POWA has higher volatility (2.81%) compared to USMV (2.54%). In terms of maximum drawdown, POWA dropped -47.91% vs USMV's -33.10%.

On 10-year performance, POWA leads with 9.92% vs 9.58% 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.

Over the 10-year period, POWA has performed better with a 9.92% return vs 9.58%. 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 0.40% for POWA.

USMV has the higher dividend yield at 1.48%, compared with 0.95% for POWA.

POWA tracks Bloomberg Pricing Power Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for POWA and 0.15% for USMV.

USMV currently has the higher Sharpe Ratio (0.84 vs 0.29), 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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