QQLV vs. USMV
QQLV (Invesco QQQ Low Volatility ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - QQLV tracks the Nasdaq Low Volatility Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past year, QQLV returned 1.72% vs 7.10% for USMV. Their correlation of 0.84 suggests significant overlap in exposure. QQLV charges 0.25%/yr vs 0.15%/yr for USMV.
Performance
QQLV vs. USMV - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with QQLV having a 4.74% return and USMV slightly lower at 4.64%.
QQLV
- 1D
- 0.66%
- 1M
- 0.46%
- 6M
- 3.63%
- YTD
- 4.74%
- 1Y
- 1.72%
- 3Y*
- —
- 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%
QQLV vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 4.74% | 4.19% | -5.60% |
USMV iShares MSCI USA Min Vol Factor ETF | 4.64% | 7.65% | -4.93% |
Correlation
The correlation between QQLV and USMV is 0.78, 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 | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024 | 0.84 |
The correlation between QQLV and USMV has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
QQLV vs. USMV — Risk / Return Rank
QQLV
USMV
QQLV vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) 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.
| QQLV | USMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.15 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.10 | -0.87 |
| Martin ratioReturn relative to average drawdown | 0.46 | 3.61 | -3.15 |
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Drawdowns
QQLV vs. USMV - Drawdown Comparison
The maximum QQLV drawdown since its inception was -9.54%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for QQLV and USMV.
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Drawdown Indicators
| QQLV | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -33.10% | +23.56% |
Max Drawdown (1Y)Largest decline over 1 year | -7.35% | -6.46% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.36% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.10% | — |
Current DrawdownCurrent decline from peak | -0.98% | -0.54% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -2.87% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 1.97% | +1.82% |
Volatility
QQLV vs. USMV - Volatility Comparison
Invesco QQQ Low Volatility ETF (QQLV) has a higher volatility of 4.61% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.54%. This indicates that QQLV'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
| QQLV | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 2.54% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 8.11% | 6.22% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.73% | 8.48% | +2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.84% | 12.36% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 14.49% | -1.65% |
QQLV vs. USMV - Expense Ratio Comparison
QQLV has a 0.25% 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%.
Dividends
QQLV vs. USMV - Dividend Comparison
QQLV's dividend yield for the trailing twelve months is around 2.05%, more than USMV's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 2.05% | 1.84% | 0.00% | 0.00% | 0.00% | 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
QQLV and USMV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQLV has higher volatility (4.61%) compared to USMV (2.54%). In terms of maximum drawdown, QQLV dropped -9.54% vs USMV's -33.10%.
On 1-year performance, USMV leads with 7.10% vs 1.72% for QQLV. 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 1-year period, USMV has performed better with a 7.10% return vs 1.72%. 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 0.25% for QQLV.
QQLV has the higher dividend yield at 2.05%, compared with 1.48% for USMV.
QQLV tracks Nasdaq Low Volatility Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for QQLV and 0.15% for USMV.
USMV currently has the higher Sharpe Ratio (0.84 vs 0.16), 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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