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RFFC vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RFFC vs. USMV

Last updated Jul 15, 2026
Documentation

RFFC (ALPS Active Equity Opportunity ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. RFFC is actively managed, while USMV is passively managed. Over the past 10 years, RFFC returned 12.98%/yr vs 9.48%/yr for USMV. A 0.74 correlation means they provide meaningful diversification when combined. RFFC charges 0.48%/yr vs 0.15%/yr for USMV.

Performance

RFFC vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Active Equity Opportunity ETF (RFFC) 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, RFFC achieves a 12.37% return, which is significantly higher than USMV's 3.64% return. Over the past 10 years, RFFC has outperformed USMV with an annualized return of 12.98%, while USMV has yielded a comparatively lower 9.48% annualized return.

RFFC

1D
0.23%
1M
1.81%
6M
9.26%
YTD
12.37%
1Y
25.00%
3Y*
20.03%
5Y*
12.09%
10Y*
12.98%

USMV

1D
-0.96%
1M
1.18%
6M
3.50%
YTD
3.64%
1Y
5.50%
3Y*
11.07%
5Y*
6.93%
10Y*
9.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RFFC vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RFFC
ALPS Active Equity Opportunity ETF		12.37%16.83%23.51%19.50%-14.58%22.33%12.48%24.77%-10.23%21.02%
USMV
iShares MSCI USA Min Vol Factor ETF		3.64%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%18.91%

Correlation

The correlation between RFFC and USMV is 0.51, 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

0.51

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

0.66

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

0.75

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

0.75

Correlation (All Time)
Calculated using the full available price history since Jun 7, 2016

0.74

Over the past year, the correlation between RFFC and USMV has dropped to 0.51 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

RFFC vs. USMV - Sectors Allocation Comparison

Sectors
RFFC
USMV

Technology

33.0%
33.9%

Industrials

12.2%
6.1%

Healthcare

11.7%
12.6%

Financial Services

10.9%
11.7%

Consumer Cyclical

9.3%
5.7%

Communication Services

8.7%
6.2%

Energy

4.8%
2.7%

Consumer Defensive

2.7%
9.4%

Utilities

2.4%
6.9%

Basic Materials

2.3%
2.4%

Real Estate

2.0%
2.5%

Technology

RFFC
33.0%
USMV
33.9%

Industrials

RFFC
12.2%
USMV
6.1%

Healthcare

RFFC
11.7%
USMV
12.6%

Financial Services

RFFC
10.9%
USMV
11.7%

Consumer Cyclical

RFFC
9.3%
USMV
5.7%

Communication Services

RFFC
8.7%
USMV
6.2%

Energy

RFFC
4.8%
USMV
2.7%

Consumer Defensive

RFFC
2.7%
USMV
9.4%

Utilities

RFFC
2.4%
USMV
6.9%

Basic Materials

RFFC
2.3%
USMV
2.4%

Real Estate

RFFC
2.0%
USMV
2.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ALPS Active Equity Opportunity ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with RFFC:
RFFC vs. BSJORFFC vs. SCHGRFFC vs. LVHIRFFC vs. ONEQRFFC vs. VYMIRFFC vs. TEXNRFFC vs. ACES
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

RFFC vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RFFC
RFFC Risk / Return Rank: 7777
Overall Rank
RFFC Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
RFFC Sortino Ratio Rank: 8080
Sortino Ratio Rank
RFFC Omega Ratio Rank: 7777
Omega Ratio Rank
RFFC Calmar Ratio Rank: 6868
Calmar Ratio Rank
RFFC Martin Ratio Rank: 8181
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2222
Overall Rank
USMV Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2121
Sortino Ratio Rank
USMV Omega Ratio Rank: 2020
Omega Ratio Rank
USMV Calmar Ratio Rank: 2323
Calmar Ratio Rank
USMV Martin Ratio Rank: 2626
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.

RFFC vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Active Equity Opportunity ETF (RFFC) 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.

RFFCUSMVDifference
Sharpe ratioReturn per unit of total volatility
2.03
0.65

+1.38

Sortino ratioReturn per unit of downside risk
2.85
0.96

+1.89

Omega ratioGain probability vs. loss probability

1.36

1.11

+0.25

Calmar ratioReturn relative to maximum drawdown

2.71

0.86

+1.86

Martin ratioReturn relative to average drawdown

12.30

2.80

+9.50

RFFC vs. USMV - Sharpe Ratio Comparison

The current RFFC Sharpe Ratio is 2.03, which is higher than the USMV Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of RFFC 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

RFFC vs. USMV - Drawdown Comparison

The maximum RFFC drawdown since its inception was -36.26%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for RFFC and USMV.

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Drawdown Indicators

RFFCUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-36.26%

-33.10%

-3.16%

Max Drawdown (1Y)

Largest decline over 1 year

-9.25%

-6.46%

-2.79%

Max Drawdown (3Y)

Largest decline over 3 years

-18.45%

-9.36%

-9.09%

Max Drawdown (5Y)

Largest decline over 5 years

-22.29%

-17.93%

-4.36%

Max Drawdown (10Y)

Largest decline over 10 years

-36.26%

-33.10%

-3.16%

Current Drawdown

Current decline from peak

-0.62%

-1.49%

+0.87%

Average Drawdown

Average peak-to-trough decline

-4.97%

-2.87%

-2.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

1.97%

+0.07%

Volatility

RFFC vs. USMV - Volatility Comparison

ALPS Active Equity Opportunity ETF (RFFC) has a higher volatility of 2.99% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.75%. This indicates that RFFC'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

RFFCUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.99%

2.75%

+0.24%

Volatility (6M)

Calculated over the trailing 6-month period

9.86%

6.30%

+3.56%

Volatility (1Y)

Calculated over the trailing 1-year period

12.39%

8.52%

+3.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.33%

12.37%

+3.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.96%

14.50%

+3.46%

RFFC vs. USMV - Expense Ratio Comparison

RFFC has a 0.48% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

RFFC vs. USMV - Dividend Comparison

RFFC's dividend yield for the trailing twelve months is around 0.63%, less than USMV's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
RFFC
ALPS Active Equity Opportunity ETF		0.63%0.78%1.05%1.35%1.41%0.71%1.79%1.34%1.36%0.93%0.66%0.00%
USMV
iShares MSCI USA Min Vol Factor ETF		1.49%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

RFFC and USMV have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RFFC has higher volatility (2.99%) compared to USMV (2.75%). In terms of maximum drawdown, RFFC dropped -36.26% vs USMV's -33.10%.

On 10-year performance, RFFC leads with 12.98% vs 9.48% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RFFC has performed better with a 12.98% return vs 9.48%. 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 0.48% for RFFC.

USMV has the higher dividend yield at 1.49%, compared with 0.63% for RFFC.

They also come from different issuers: SS&C and iShares. Their fees differ too: 0.48% for RFFC and 0.15% for USMV.

RFFC currently has the higher Sharpe Ratio (2.03 vs 0.65), 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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