SMMV vs. USMV
Compare and contrast key facts about iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and iShares Edge MSCI Min Vol USA ETF (USMV).
SMMV and USMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Minimum Volatility (USD) Index. It was launched on Sep 7, 2016. USMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Oct 18, 2011. Both SMMV and USMV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMMV or USMV.
Key characteristics
| SMMV | USMV | |
|---|---|---|
| YTD Return | 24.84% | 21.12% |
| 1Y Return | 35.57% | 28.56% |
| 3Y Return (Ann) | 5.52% | 7.96% |
| 5Y Return (Ann) | 6.60% | 9.87% |
| Sharpe Ratio | 2.99 | 3.53 |
| Sortino Ratio | 4.40 | 4.99 |
| Omega Ratio | 1.56 | 1.67 |
| Calmar Ratio | 2.69 | 4.93 |
| Martin Ratio | 22.64 | 23.09 |
| Ulcer Index | 1.60% | 1.28% |
| Daily Std Dev | 12.14% | 8.39% |
| Max Drawdown | -38.77% | -33.10% |
| Current Drawdown | 0.00% | -0.14% |
Correlation
The correlation between SMMV and USMV is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SMMV vs. USMV - Performance Comparison
In the year-to-date period, SMMV achieves a 24.84% return, which is significantly higher than USMV's 21.12% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SMMV vs. USMV - Expense Ratio Comparison
SMMV has a 0.20% 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%.
Risk-Adjusted Performance
SMMV vs. USMV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) and iShares Edge MSCI Min Vol USA 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.
Dividends
SMMV vs. USMV - Dividend Comparison
SMMV's dividend yield for the trailing twelve months is around 1.47%, less than USMV's 1.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 1.47% | 1.78% | 1.67% | 1.07% | 1.39% | 1.65% | 1.72% | 1.62% | 0.79% | 0.00% | 0.00% | 0.00% |
USMV iShares Edge MSCI Min Vol USA ETF | 1.61% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% | 1.88% | 2.18% |
Drawdowns
SMMV vs. USMV - Drawdown Comparison
The maximum SMMV drawdown since its inception was -38.77%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for SMMV and USMV. For additional features, visit the drawdowns tool.
Volatility
SMMV vs. USMV - Volatility Comparison
iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) has a higher volatility of 4.58% compared to iShares Edge MSCI Min Vol USA ETF (USMV) at 2.83%. This indicates that SMMV'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.