USMV vs. ADP

Last updated Jun 9, 2026

USMV (iShares MSCI USA Min Vol Factor ETF) is Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index, while ADP (Automatic Data Processing, Inc.) is a stock. Over the past 10 years, USMV returned 9.75%/yr vs 12.50%/yr for ADP. A 0.72 correlation means they provide meaningful diversification when combined.

Performance

USMV vs. ADP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Min Vol Factor ETF (USMV) and Automatic Data Processing, Inc. (ADP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USMV achieves a 1.55% return, which is significantly higher than ADP's -10.21% return. Over the past 10 years, USMV has underperformed ADP with an annualized return of 9.75%, while ADP has yielded a comparatively higher 12.50% annualized return.

USMV

• 1D: -0.43%
• 1M: 1.28%
• YTD: 1.55%
• 6M: 2.27%
• 1Y: 3.18%
• 3Y*: 11.35%
• 5Y*: 7.21%
• 10Y*: 9.75%

ADP

• 1D: -1.24%
• 1M: 7.55%
• YTD: -10.21%
• 6M: -10.14%
• 1Y: -28.14%
• 3Y*: 4.26%
• 5Y*: 5.16%
• 10Y*: 12.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

USMV vs. ADP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USMV iShares MSCI USA Min Vol Factor ETF	1.55%	7.65%	15.74%	10.33%	-9.43%	20.85%	5.64%	27.69%	1.33%	18.91%
ADP Automatic Data Processing, Inc.	-10.21%	-10.18%	28.41%	-0.25%	-1.29%	42.60%	5.86%	32.71%	14.25%	16.54%

Correlation

The correlation between USMV and ADP is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.72

The correlation between USMV and ADP shifts across timeframes, from 0.55 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USMV vs. ADP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USMV

USMV Risk / Return Rank: 15
USMV Sharpe Ratio Rank: 15
USMV Sortino Ratio Rank: 15
USMV Omega Ratio Rank: 14
USMV Calmar Ratio Rank: 16
USMV Martin Ratio Rank: 17

ADP

ADP Risk / Return Rank: 8
ADP Sharpe Ratio Rank: 2
ADP Sortino Ratio Rank: 4
ADP Omega Ratio Rank: 6
ADP Calmar Ratio Rank: 15
ADP Martin Ratio Rank: 11

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.

USMV vs. ADP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Min Vol Factor ETF (USMV) and Automatic Data Processing, Inc. (ADP). 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.

	USMV	ADP	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-1.16	+1.54
Sortino ratio: Return per unit of downside risk	0.58	-1.68	+2.26
Omega ratio: Gain probability vs. loss probability	1.07	0.80	+0.27
Calmar ratio: Return relative to maximum drawdown	0.49	-0.72	+1.21
Martin ratio: Return relative to average drawdown	1.64	-1.33	+2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USMV vs. ADP - Sharpe Ratio Comparison

The current USMV Sharpe Ratio is 0.37, which is higher than the ADP Sharpe Ratio of -1.16. The chart below compares the historical Sharpe Ratios of USMV and ADP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USMV	ADP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	-1.16	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.24	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.51	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.54	+0.32

Drawdowns

USMV vs. ADP - Drawdown Comparison

The maximum USMV drawdown since its inception was -33.10%, smaller than the maximum ADP drawdown of -59.51%. Use the drawdown chart below to compare losses from any high point for USMV and ADP.

Drawdown Indicators

	USMV	ADP	Difference
Max Drawdown Largest peak-to-trough decline	-33.10%	-59.51%	+26.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.46%	-39.25%	+32.79%
Max Drawdown (3Y) Largest decline over 3 years	-9.36%	-40.78%	+31.42%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-40.78%	+22.85%
Max Drawdown (10Y) Largest decline over 10 years	-33.10%	-40.78%	+7.68%
Current Drawdown Current decline from peak	-2.24%	-28.14%	+25.90%
Average Drawdown Average peak-to-trough decline	-2.88%	-12.59%	+9.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	22.88%	-20.94%

Volatility

USMV vs. ADP - Volatility Comparison

The current volatility for iShares MSCI USA Min Vol Factor ETF (USMV) is 2.65%, while Automatic Data Processing, Inc. (ADP) has a volatility of 9.30%. This indicates that USMV experiences smaller price fluctuations and is considered to be less risky than ADP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USMV	ADP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	9.30%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	20.42%	-14.40%
Volatility (1Y) Calculated over the trailing 1-year period	8.57%	24.35%	-15.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.36%	22.05%	-9.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.51%	24.48%	-9.97%

Dividends

USMV vs. ADP - Dividend Comparison

USMV's dividend yield for the trailing twelve months is around 1.54%, less than ADP's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADP Automatic Data Processing, Inc.	2.83%	2.46%	1.96%	2.21%	1.83%	1.55%	2.08%	1.92%	2.14%	2.00%	2.10%	2.36%
USMV iShares MSCI USA Min Vol Factor ETF	1.54%	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

Can I hold both USMV and ADP in my portfolio?

USMV and ADP have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USMV or ADP?

ADP has higher volatility (9.30%) compared to USMV (2.65%). In terms of maximum drawdown, USMV dropped -33.10% vs ADP's -59.51%.

Which has better risk-adjusted returns?

USMV currently has the higher Sharpe Ratio (0.37 vs -1.16), 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.