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 -0.14% vs 3.59% 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
In the year-to-date period, QQLV achieves a 2.18% return, which is significantly higher than USMV's 1.14% return.
QQLV
- 1D
- 0.70%
- 1M
- -1.30%
- YTD
- 2.18%
- 6M
- 1.84%
- 1Y
- -0.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USMV
- 1D
- 0.29%
- 1M
- -2.10%
- YTD
- 1.14%
- 6M
- 0.51%
- 1Y
- 3.59%
- 3Y*
- 10.93%
- 5Y*
- 7.02%
- 10Y*
- 9.79%
QQLV vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 2.18% | 4.19% | -5.60% |
USMV iShares MSCI USA Min Vol Factor ETF | 1.14% | 7.65% | -4.93% |
Correlation
The correlation between QQLV and USMV is 0.80, 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 | 0.80 |
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 0.80 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 | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.08 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.56 | -0.58 |
| Martin ratioReturn relative to average drawdown | -0.04 | 1.82 | -1.86 |
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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 | -3.38% | -2.63% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -3.17% | -2.87% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 1.98% | +1.78% |
Volatility
QQLV vs. USMV - Volatility Comparison
Invesco QQQ Low Volatility ETF (QQLV) has a higher volatility of 3.24% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.63%. 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 | 3.24% | 2.63% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 6.14% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 8.60% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 12.35% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.69% | 14.51% | -1.82% |
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 2.10%, more than USMV's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQLV Invesco QQQ Low Volatility ETF | 2.10% | 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 | 1.53% | 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 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQLV has higher volatility (3.24%) compared to USMV (2.63%). In terms of maximum drawdown, QQLV dropped -9.54% vs USMV's -33.10%.
On 1-year performance, USMV leads with 3.59% vs -0.14% for QQLV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.63%. 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 3.59% return vs -0.14%. 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 2.10%, compared with 1.53% 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 (0.42 vs -0.01), 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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