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SHRY vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHRY vs. USMV

Last updated Jul 17, 2026
Documentation

SHRY (First Trust Bloomberg Shareholder Yield ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - SHRY tracks the Bloomberg Shareholder Yield Index - Benchmark TR Gross while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past 5 years, SHRY returned 8.84%/yr vs 6.96%/yr for USMV. A 0.76 correlation means they provide meaningful diversification when combined. SHRY charges 0.60%/yr vs 0.15%/yr for USMV.

Performance

SHRY vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg Shareholder Yield ETF (SHRY) 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, SHRY achieves a 8.16% return, which is significantly higher than USMV's 3.90% return.

SHRY

1D
1.73%
1M
4.13%
6M
5.06%
YTD
8.16%
1Y
8.53%
3Y*
12.86%
5Y*
8.84%
10Y*
—

USMV

1D
1.08%
1M
1.27%
6M
3.44%
YTD
3.90%
1Y
6.27%
3Y*
11.14%
5Y*
6.96%
10Y*
9.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHRY vs. USMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SHRY
First Trust Bloomberg Shareholder Yield ETF		8.16%7.29%17.27%17.47%-14.21%30.50%11.86%30.69%-9.35%10.45%
USMV
iShares MSCI USA Min Vol Factor ETF		3.90%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%7.59%

Correlation

The correlation between SHRY and USMV is 0.73, 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

0.73

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

0.79

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

0.81

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2017

0.76

The correlation between SHRY and USMV has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

SHRY vs. USMV - Sectors Allocation Comparison

Sectors
SHRY
USMV

Financial Services

22.7%
11.7%

Technology

20.5%
33.9%

Communication Services

12.4%
6.2%

Energy

10.2%
2.7%

Consumer Defensive

10.0%
9.4%

Industrials

8.1%
6.1%

Healthcare

8.1%
12.6%

Consumer Cyclical

7.4%
5.7%

Basic Materials

0.7%
2.4%

Real Estate

-

2.5%

Utilities

-

6.9%

Financial Services

SHRY
22.7%
USMV
11.7%

Technology

SHRY
20.5%
USMV
33.9%

Communication Services

SHRY
12.4%
USMV
6.2%

Energy

SHRY
10.2%
USMV
2.7%

Consumer Defensive

SHRY
10.0%
USMV
9.4%

Industrials

SHRY
8.1%
USMV
6.1%

Healthcare

SHRY
8.1%
USMV
12.6%

Consumer Cyclical

SHRY
7.4%
USMV
5.7%

Basic Materials

SHRY
0.7%
USMV
2.4%

Real Estate

SHRY

-

USMV
2.5%

Utilities

SHRY

-

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.

First Trust Bloomberg Shareholder Yield ETF

iShares MSCI USA Min Vol Factor ETF

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SHRY vs. KNGZSHRY vs. SYLDSHRY vs. COWZSHRY vs. IPDPSHRY vs. BDGSSHRY vs. SPYSHRY vs. SPXM
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

SHRY vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHRY
SHRY Risk / Return Rank: 2626
Overall Rank
SHRY Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
SHRY Sortino Ratio Rank: 2424
Sortino Ratio Rank
SHRY Omega Ratio Rank: 2323
Omega Ratio Rank
SHRY Calmar Ratio Rank: 2929
Calmar Ratio Rank
SHRY Martin Ratio Rank: 2727
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2525
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: 2525
Calmar Ratio Rank
USMV Martin Ratio Rank: 2929
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.

SHRY vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Shareholder Yield ETF (SHRY) 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.

SHRYUSMVDifference
Sharpe ratioReturn per unit of total volatility
0.77
0.74

+0.03

Sortino ratioReturn per unit of downside risk
1.15
1.10

+0.05

Omega ratioGain probability vs. loss probability

1.14

1.13

+0.01

Calmar ratioReturn relative to maximum drawdown

1.19

0.98

+0.21

Martin ratioReturn relative to average drawdown

2.95

3.18

-0.23

SHRY vs. USMV - Sharpe Ratio Comparison

The current SHRY Sharpe Ratio is 0.77, which is comparable to the USMV Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of SHRY 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

SHRY vs. USMV - Drawdown Comparison

The maximum SHRY drawdown since its inception was -36.67%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for SHRY and USMV.

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Drawdown Indicators

SHRYUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-36.67%

-33.10%

-3.57%

Max Drawdown (1Y)

Largest decline over 1 year

-7.20%

-6.46%

-0.74%

Max Drawdown (3Y)

Largest decline over 3 years

-15.34%

-9.36%

-5.98%

Max Drawdown (5Y)

Largest decline over 5 years

-23.94%

-17.93%

-6.01%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.10%

—

Current Drawdown

Current decline from peak

-0.10%

-1.24%

+1.14%

Average Drawdown

Average peak-to-trough decline

-5.02%

-2.87%

-2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.90%

1.98%

+0.92%

Volatility

SHRY vs. USMV - Volatility Comparison

First Trust Bloomberg Shareholder Yield ETF (SHRY) has a higher volatility of 4.04% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 3.00%. This indicates that SHRY'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

SHRYUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.04%

3.00%

+1.04%

Volatility (6M)

Calculated over the trailing 6-month period

8.04%

6.41%

+1.63%

Volatility (1Y)

Calculated over the trailing 1-year period

11.14%

8.53%

+2.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.71%

12.38%

+3.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.13%

14.50%

+3.63%

SHRY vs. USMV - Expense Ratio Comparison

SHRY has a 0.60% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

SHRY vs. USMV - Dividend Comparison

SHRY's dividend yield for the trailing twelve months is around 1.65%, more than USMV's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
SHRY
First Trust Bloomberg Shareholder Yield ETF		1.65%1.73%1.76%1.49%1.52%0.98%1.65%1.54%1.89%0.55%0.00%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

SHRY and USMV have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SHRY has higher volatility (4.04%) compared to USMV (3.00%). In terms of maximum drawdown, SHRY dropped -36.67% vs USMV's -33.10%.

On 5-year performance, SHRY leads with 8.84% vs 6.96% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SHRY has performed better with a 8.84% return vs 6.96%. 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 0.60% for SHRY.

SHRY has the higher dividend yield at 1.65%, compared with 1.49% for USMV.

SHRY tracks Bloomberg Shareholder Yield Index - Benchmark TR Gross, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for SHRY and 0.15% for USMV.

SHRY currently has the higher Sharpe Ratio (0.77 vs 0.74), 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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