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SCHB vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCHB vs. USMV

Last updated Jul 12, 2026
Documentation

SCHB (Schwab U.S. Broad Market ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - SCHB tracks the Dow Jones U.S. Broad Stock Market Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 10 years, SCHB returned 14.78%/yr vs 9.61%/yr for USMV. Their correlation of 0.82 suggests significant overlap in exposure. SCHB charges 0.03%/yr vs 0.15%/yr for USMV.

Performance

SCHB vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Broad Market ETF (SCHB) 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, SCHB achieves a 11.85% return, which is significantly higher than USMV's 4.58% return. Over the past 10 years, SCHB has outperformed USMV with an annualized return of 14.78%, while USMV has yielded a comparatively lower 9.61% annualized return.

SCHB

1D
0.31%
1M
2.48%
6M
9.51%
YTD
11.85%
1Y
22.62%
3Y*
20.66%
5Y*
12.14%
10Y*
14.78%

USMV

1D
0.16%
1M
2.54%
6M
4.05%
YTD
4.58%
1Y
7.03%
3Y*
11.50%
5Y*
7.18%
10Y*
9.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SCHB vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCHB
Schwab U.S. Broad Market ETF		11.85%16.94%23.93%26.16%-19.46%25.84%20.76%30.79%-5.43%21.20%
USMV
iShares MSCI USA Min Vol Factor ETF		4.58%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%18.91%

Correlation

The correlation between SCHB and USMV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

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

0.64

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

0.75

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

0.79

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

0.82

Over the past year, the correlation between SCHB and USMV has dropped to 0.49 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

SCHB vs. USMV - Sectors Allocation Comparison

Sectors
SCHB
USMV

Technology

37.3%
33.9%

Financial Services

11.4%
11.7%

Communication Services

9.8%
6.2%

Consumer Cyclical

9.8%
5.7%

Industrials

9.1%
6.1%

Healthcare

8.8%
12.6%

Consumer Defensive

4.3%
9.4%

Energy

3.3%
2.7%

Real Estate

2.3%
2.5%

Utilities

2.1%
6.9%

Basic Materials

1.9%
2.4%

Technology

SCHB
37.3%
USMV
33.9%

Financial Services

SCHB
11.4%
USMV
11.7%

Communication Services

SCHB
9.8%
USMV
6.2%

Consumer Cyclical

SCHB
9.8%
USMV
5.7%

Industrials

SCHB
9.1%
USMV
6.1%

Healthcare

SCHB
8.8%
USMV
12.6%

Consumer Defensive

SCHB
4.3%
USMV
9.4%

Energy

SCHB
3.3%
USMV
2.7%

Real Estate

SCHB
2.3%
USMV
2.5%

Utilities

SCHB
2.1%
USMV
6.9%

Basic Materials

SCHB
1.9%
USMV
2.4%

Compare stocks, funds, or ETFs

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

Schwab U.S. Broad Market ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with SCHB:
SCHB vs. VTISCHB vs. SCHGSCHB vs. SCHXSCHB vs. VOOSCHB vs. SCHDSCHB vs. SWTSXSCHB vs. SPY
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

SCHB vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SCHB
SCHB Risk / Return Rank: 6767
Overall Rank
SCHB Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
SCHB Sortino Ratio Rank: 6565
Sortino Ratio Rank
SCHB Omega Ratio Rank: 6666
Omega Ratio Rank
SCHB Calmar Ratio Rank: 6363
Calmar Ratio Rank
SCHB Martin Ratio Rank: 7474
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2424
Overall Rank
USMV Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2323
Sortino Ratio Rank
USMV Omega Ratio Rank: 2222
Omega Ratio Rank
USMV Calmar Ratio Rank: 2424
Calmar Ratio Rank
USMV Martin Ratio Rank: 2828
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.

SCHB vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Broad Market ETF (SCHB) 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.

SCHBUSMVDifference
Sharpe ratioReturn per unit of total volatility
1.74
0.73

+1.00

Sortino ratioReturn per unit of downside risk
2.40
1.08

+1.31

Omega ratioGain probability vs. loss probability

1.31

1.13

+0.19

Calmar ratioReturn relative to maximum drawdown

2.50

0.97

+1.53

Martin ratioReturn relative to average drawdown

10.89

3.16

+7.73

SCHB vs. USMV - Sharpe Ratio Comparison

The current SCHB Sharpe Ratio is 1.74, which is higher than the USMV Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of SCHB 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

SCHB vs. USMV - Drawdown Comparison

The maximum SCHB drawdown since its inception was -35.27%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for SCHB and USMV.

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Drawdown Indicators

SCHBUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-35.27%

-33.10%

-2.17%

Max Drawdown (1Y)

Largest decline over 1 year

-8.91%

-6.46%

-2.45%

Max Drawdown (3Y)

Largest decline over 3 years

-19.34%

-9.36%

-9.98%

Max Drawdown (5Y)

Largest decline over 5 years

-25.41%

-17.93%

-7.48%

Max Drawdown (10Y)

Largest decline over 10 years

-35.27%

-33.10%

-2.17%

Current Drawdown

Current decline from peak

-0.21%

-0.60%

+0.39%

Average Drawdown

Average peak-to-trough decline

-4.10%

-2.87%

-1.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

1.97%

+0.07%

Volatility

SCHB vs. USMV - Volatility Comparison

Schwab U.S. Broad Market ETF (SCHB) has a higher volatility of 4.39% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.59%. This indicates that SCHB'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

SCHBUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.39%

2.59%

+1.80%

Volatility (6M)

Calculated over the trailing 6-month period

10.13%

6.23%

+3.90%

Volatility (1Y)

Calculated over the trailing 1-year period

12.82%

8.51%

+4.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.35%

12.35%

+5.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.30%

14.49%

+3.81%

SCHB vs. USMV - Expense Ratio Comparison

SCHB has a 0.03% expense ratio, which is lower than USMV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHB vs. USMV - Dividend Comparison

SCHB's dividend yield for the trailing twelve months is around 1.03%, less than USMV's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHB
Schwab U.S. Broad Market ETF		1.03%1.11%1.24%1.40%1.61%1.21%1.63%1.80%2.00%1.65%1.86%2.00%
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

SCHB and USMV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SCHB has higher volatility (4.39%) compared to USMV (2.59%). In terms of maximum drawdown, SCHB dropped -35.27% vs USMV's -33.10%.

On 10-year performance, SCHB leads with 14.78% vs 9.61% for USMV. On fees, SCHB is cheaper at 0.03% per year. On volatility, USMV has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHB has performed better with a 14.78% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHB is cheaper with a 0.03% expense ratio, compared with 0.15% for USMV.

USMV has the higher dividend yield at 1.48%, compared with 1.03% for SCHB.

SCHB tracks Dow Jones U.S. Broad Stock Market Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.03% for SCHB and 0.15% for USMV.

SCHB currently has the higher Sharpe Ratio (1.74 vs 0.73), 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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