USMV vs. AFOS
USMV (iShares MSCI USA Min Vol Factor ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. At a 0.23 correlation, their price movements are largely independent. USMV charges 0.15%/yr vs 0.45%/yr for AFOS.
Performance
USMV vs. AFOS - Performance Comparison
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Returns By Period
In the year-to-date period, USMV achieves a 1.14% return, which is significantly lower than AFOS's 31.60% return.
USMV
- 1D
- 0.29%
- 1M
- -2.10%
- YTD
- 1.14%
- 6M
- 0.51%
- 1Y
- 3.59%
- 3Y*
- 10.93%
- 5Y*
- 7.02%
- 10Y*
- 9.79%
AFOS
- 1D
- -3.79%
- 1M
- 4.43%
- YTD
- 31.60%
- 6M
- 30.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USMV vs. AFOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
USMV iShares MSCI USA Min Vol Factor ETF | 1.14% | 2.78% |
AFOS ARS Focused Opportunities Strategy ETF | 31.60% | 37.10% |
Correlation
The correlation between USMV and AFOS is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.23 |
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Return for Risk
USMV vs. AFOS — Risk / Return Rank
USMV
AFOS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USMV vs. AFOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Min Vol Factor ETF (USMV) and ARS Focused Opportunities Strategy ETF (AFOS). 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.
| USMV | AFOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.08 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | — | — |
| Martin ratioReturn relative to average drawdown | 1.82 | — | — |
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Drawdowns
USMV vs. AFOS - Drawdown Comparison
The maximum USMV drawdown since its inception was -33.10%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for USMV and AFOS.
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Drawdown Indicators
| USMV | AFOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.10% | -11.52% | -21.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.46% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -9.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.10% | — | — |
Current DrawdownCurrent decline from peak | -2.63% | -3.79% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -1.42% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | — | — |
Volatility
USMV vs. AFOS - Volatility Comparison
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Volatility by Period
| USMV | AFOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.14% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.60% | 21.52% | -12.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.35% | 21.52% | -9.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.51% | 21.52% | -7.01% |
USMV vs. AFOS - Expense Ratio Comparison
USMV has a 0.15% expense ratio, which is lower than AFOS's 0.45% expense ratio.
Dividends
USMV vs. AFOS - Dividend Comparison
USMV's dividend yield for the trailing twelve months is around 1.53%, more than AFOS's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFOS ARS Focused Opportunities Strategy ETF | 0.23% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USMV iShares MSCI USA Min Vol Factor ETF | 1.53% | 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
USMV and AFOS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USMV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USMV is cheaper with a 0.15% expense ratio, compared with 0.45% for AFOS.
USMV has the higher dividend yield at 1.53%, compared with 0.23% for AFOS.
They also come from different issuers: iShares and ARS Investment Partners. Their fees differ too: 0.15% for USMV and 0.45% for AFOS.
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