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USMV vs. CIL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USMV vs. CIL

Last updated Aug 4, 2026
Documentation

USMV (iShares MSCI USA Min Vol Factor ETF) and CIL (VictoryShares International Volatility Wtd ETF) are both exchange-traded funds - USMV is a Low Volatility fund tracking the MSCI USA Minimum Volatility Index, while CIL is a Foreign Large Cap Equities fund tracking the Nasdaq Victory International 500 Volatility Weighted Index. Both are passively managed. Over the past 10 years, USMV returned 9.69%/yr vs 8.18%/yr for CIL. Their 0.50 correlation means their historical movements had little consistent relationship. USMV charges 0.15%/yr vs 0.45%/yr for CIL.

Performance

USMV vs. CIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Min Vol Factor ETF (USMV) and VictoryShares International Volatility Wtd ETF (CIL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, USMV achieves a 5.12% return, which is significantly lower than CIL's 5.44% return. Over the past 10 years, USMV has outperformed CIL with an annualized return of 9.69%, while CIL has yielded a comparatively lower 8.18% annualized return.

USMV

1D
0.35%
1M
0.39%
6M
3.78%
YTD
5.12%
1Y
8.05%
3Y*
11.61%
5Y*
6.93%
10Y*
9.69%
ALL TIME*
11.67%

CIL

1D
0.00%
1M
0.00%
6M
0.00%
YTD
5.44%
1Y
16.21%
3Y*
15.35%
5Y*
7.16%
10Y*
8.18%
ALL TIME*
7.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

CIL

VictoryShares International Volatility Wtd ETF
$0.00$0.00$0.00

USMV

iShares MSCI USA Min Vol Factor ETF
$238.33M$228.63M$219.79M

USMV vs. CIL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USMV
iShares MSCI USA Min Vol Factor ETF		5.12%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%1.33%18.91%
CIL
VictoryShares International Volatility Wtd ETF		5.44%32.99%3.76%16.29%-16.00%11.07%7.21%19.13%-13.34%27.67%

Correlation

The correlation between USMV and CIL is 0.33, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.33

Correlation (3Y)
Balances recent behavior with more history.

0.52

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.52

Correlation (10Y)
Provides a long-term view across more market conditions.

0.50

Correlation (All Time)
Calculated using the full available price history since Aug 20, 2015

0.50

The correlation between USMV and CIL shifts across timeframes, from 0.33 (1 year) to 0.52 (3 years), reflecting how their relationship changes across market environments.

USMV vs. CIL - Sectors Allocation Comparison

Sectors
USMV
CIL

Technology

33.0%
6.4%

Healthcare

13.4%
7.7%

Financial Services

11.8%
24.8%

Consumer Defensive

9.3%
8.8%

Utilities

7.2%
6.6%

Industrials

6.4%
18.4%

Consumer Cyclical

5.8%
8.2%

Communication Services

5.7%
5.8%

Energy

2.6%
4.6%

Real Estate

2.6%
2.2%

Basic Materials

2.2%
6.6%

Technology

USMV
33.0%
CIL
6.4%

Healthcare

USMV
13.4%
CIL
7.7%

Financial Services

USMV
11.8%
CIL
24.8%

Consumer Defensive

USMV
9.3%
CIL
8.8%

Utilities

USMV
7.2%
CIL
6.6%

Industrials

USMV
6.4%
CIL
18.4%

Consumer Cyclical

USMV
5.8%
CIL
8.2%

Communication Services

USMV
5.7%
CIL
5.8%

Energy

USMV
2.6%
CIL
4.6%

Real Estate

USMV
2.6%
CIL
2.2%

Basic Materials

USMV
2.2%
CIL
6.6%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Min Vol Factor ETF

VictoryShares International Volatility Wtd ETF

Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI
Often compared with CIL:
CIL vs. VYMICIL vs. OVFCIL vs. PPIECIL vs. QLTICIL vs. BKCICIL vs. VXUSCIL vs. JHID

Return for Risk

USMV vs. CIL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
USMV
USMV Risk / Return Rank: 3737
Overall Rank
USMV Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 3737
Sortino Ratio Rank
USMV Omega Ratio Rank: 3434
Omega Ratio Rank
USMV Calmar Ratio Rank: 3636
Calmar Ratio Rank
USMV Martin Ratio Rank: 3939
Martin Ratio Rank
CIL
CIL Risk / Return Rank: 9393
Overall Rank
CIL Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
CIL Sortino Ratio Rank: 9494
Sortino Ratio Rank
CIL Omega Ratio Rank: 9696
Omega Ratio Rank
CIL Calmar Ratio Rank: 8787
Calmar Ratio Rank
CIL Martin Ratio Rank: 9494
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USMV vs. CIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Min Vol Factor ETF (USMV) and VictoryShares International Volatility Wtd ETF (CIL). 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.

USMVCILDifference
Sharpe ratioReturn per unit of total volatility
0.95
2.51

-1.56

Sortino ratioReturn per unit of downside risk
1.40
3.80

-2.40

Omega ratioGain probability vs. loss probability

1.17

1.67

-0.50

Calmar ratioReturn relative to maximum drawdown

1.25

3.68

-2.43

Martin ratioReturn relative to average drawdown

4.09

18.39

-14.30

USMV vs. CIL - Sharpe Ratio Comparison

The current USMV Sharpe Ratio is 0.95, which is lower than the CIL Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of USMV and CIL, 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

USMV vs. CIL - Drawdown Comparison

The maximum USMV drawdown since its inception was -33.10%, smaller than the maximum CIL drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for USMV and CIL.

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Drawdown Indicators

USMVCILDifference

Max Drawdown

Largest peak-to-trough decline

-33.10%

-36.27%

+3.17%

Max Drawdown (1Y)

Largest decline over 1 year

-6.46%

-4.60%

-1.86%

Max Drawdown (3Y)

Largest decline over 3 years

-9.36%

-11.29%

+1.93%

Max Drawdown (5Y)

Largest decline over 5 years

-17.93%

-29.89%

+11.96%

Max Drawdown (10Y)

Largest decline over 10 years

-33.10%

-36.27%

+3.17%

Current Drawdown

Current decline from peak

-0.29%

-0.58%

+0.29%

Average Drawdown

Average peak-to-trough decline

-2.86%

-6.47%

+3.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.03%

+0.95%

Volatility

USMV vs. CIL - Volatility Comparison

iShares MSCI USA Min Vol Factor ETF (USMV) has a higher volatility of 2.63% compared to VictoryShares International Volatility Wtd ETF (CIL) at 0.00%. This indicates that USMV's price experiences larger fluctuations and is considered to be riskier than CIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USMVCILDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

0.00%

+2.63%

Volatility (6M)

Calculated over the trailing 6-month period

6.44%

2.31%

+4.13%

Volatility (1Y)

Calculated over the trailing 1-year period

8.54%

6.77%

+1.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.38%

16.39%

-4.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.51%

16.74%

-2.23%

USMV vs. CIL - Expense Ratio Comparison

USMV has a 0.15% expense ratio, which is lower than CIL's 0.45% expense ratio.

Dividends

USMV vs. CIL - Dividend Comparison

USMV's dividend yield for the trailing twelve months is around 1.47%, more than CIL's 1.05% yield.

PositionTTM20252024202320222021202020192018201720162015
CIL
VictoryShares International Volatility Wtd ETF		1.05%2.70%3.46%2.91%2.41%3.04%1.73%2.69%2.85%2.17%2.34%0.43%
USMV
iShares MSCI USA Min Vol Factor ETF		1.47%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 CIL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USMV has higher volatility (2.63%) compared to CIL (0.00%). In terms of maximum drawdown, USMV dropped -33.10% vs CIL's -36.27%.

On 10-year performance, USMV leads with 9.69% vs 8.18% for CIL. On fees, USMV is cheaper at 0.15% per year. On volatility, CIL has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, USMV has performed better with a 9.69% return vs 8.18%. 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 0.45% for CIL.

USMV has the higher dividend yield at 1.47%, compared with 1.05% for CIL.

USMV is categorized as Low Volatility, while CIL is Foreign Large Cap Equities. USMV tracks MSCI USA Minimum Volatility Index, while CIL tracks Nasdaq Victory International 500 Volatility Weighted Index. They also come from different issuers: iShares and Crestview. Their fees differ too: 0.15% for USMV and 0.45% for CIL.

CIL currently has the higher Sharpe Ratio (2.51 vs 0.95), 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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