USMV vs. SVOL

Last updated Jun 9, 2026

USMV (iShares MSCI USA Min Vol Factor ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - USMV is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index, while SVOL is a Volatility fund actively managed by Simplify. USMV is passively managed, while SVOL is actively managed. Over the past 5 years, USMV returned 7.21%/yr vs 6.66%/yr for SVOL. A 0.57 correlation means they provide meaningful diversification when combined. USMV charges 0.15%/yr vs 0.50%/yr for SVOL.

Performance

USMV vs. SVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Min Vol Factor ETF (USMV) and Simplify Volatility Premium ETF (SVOL). 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 SVOL's -0.84% 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%

SVOL

• 1D: 0.50%
• 1M: 2.47%
• YTD: -0.84%
• 6M: 1.19%
• 1Y: 10.38%
• 3Y*: 5.92%
• 5Y*: 6.66%
• 10Y*: —

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

USMV vs. SVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
USMV iShares MSCI USA Min Vol Factor ETF	1.55%	7.65%	15.74%	10.33%	-9.43%	14.86%
SVOL Simplify Volatility Premium ETF	-0.84%	2.41%	6.77%	22.88%	-3.30%	12.70%

Correlation

The correlation between USMV and SVOL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 13, 2021	0.57

The correlation between USMV and SVOL has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

USMV vs. SVOL - Sectors Allocation Comparison

Sectors	USMV	SVOL
Technology	30.8%	31.9%
Healthcare	12.5%	11.0%
Financial Services	12.4%	11.4%
Consumer Defensive	10.0%	5.1%
Utilities	7.5%	2.3%
Communication Services	5.9%	7.4%
Industrials	5.7%	11.4%
Consumer Cyclical	5.7%	9.4%
Energy	3.6%	4.8%
Basic Materials	2.2%	2.5%
Real Estate	2.2%	2.8%

Return for Risk

USMV vs. SVOL — 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

SVOL

SVOL Risk / Return Rank: 19
SVOL Sharpe Ratio Rank: 18
SVOL Sortino Ratio Rank: 18
SVOL Omega Ratio Rank: 19
SVOL Calmar Ratio Rank: 20
SVOL Martin Ratio Rank: 19

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. SVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Min Vol Factor ETF (USMV) and Simplify Volatility Premium ETF (SVOL). 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	SVOL	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.50	-0.13
Sortino ratio: Return per unit of downside risk	0.58	0.84	-0.25
Omega ratio: Gain probability vs. loss probability	1.07	1.12	-0.05
Calmar ratio: Return relative to maximum drawdown	0.49	0.80	-0.31
Martin ratio: Return relative to average drawdown	1.64	1.89	-0.25
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. SVOL - Sharpe Ratio Comparison

The current USMV Sharpe Ratio is 0.37, which is comparable to the SVOL Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of USMV and SVOL, 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	SVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.50	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.30	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.35	+0.51

Drawdowns

USMV vs. SVOL - Drawdown Comparison

The maximum USMV drawdown since its inception was -33.10%, roughly equal to the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for USMV and SVOL.

Drawdown Indicators

	USMV	SVOL	Difference
Max Drawdown Largest peak-to-trough decline	-33.10%	-33.50%	+0.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.46%	-13.01%	+6.55%
Max Drawdown (3Y) Largest decline over 3 years	-9.36%	-33.50%	+24.14%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-33.50%	+15.57%
Max Drawdown (10Y) Largest decline over 10 years	-33.10%	—	—
Current Drawdown Current decline from peak	-2.24%	-3.40%	+1.16%
Average Drawdown Average peak-to-trough decline	-2.88%	-4.77%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	5.49%	-3.55%

Volatility

USMV vs. SVOL - Volatility Comparison

iShares MSCI USA Min Vol Factor ETF (USMV) and Simplify Volatility Premium ETF (SVOL) have volatilities of 2.65% and 2.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USMV	SVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	2.77%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	9.82%	-3.80%
Volatility (1Y) Calculated over the trailing 1-year period	8.57%	20.78%	-12.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.36%	22.01%	-9.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.51%	21.92%	-7.41%

USMV vs. SVOL - Expense Ratio Comparison

USMV has a 0.15% expense ratio, which is lower than SVOL's 0.50% expense ratio.

Dividends

USMV vs. SVOL - Dividend Comparison

USMV's dividend yield for the trailing twelve months is around 1.54%, less than SVOL's 22.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SVOL Simplify Volatility Premium ETF	22.19%	19.82%	16.79%	16.36%	18.32%	4.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 SVOL in my portfolio?

USMV and SVOL have a correlation of 0.50, 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 SVOL?

SVOL has higher volatility (2.77%) compared to USMV (2.65%). In terms of maximum drawdown, USMV dropped -33.10% vs SVOL's -33.50%.

Which ETF is better, USMV or SVOL?

On 5-year performance, USMV leads with 7.21% vs 6.66% for SVOL. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 2.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USMV or SVOL?

Over the 5-year period, USMV has performed better with a 7.21% return vs 6.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USMV or SVOL?

USMV is cheaper with a 0.15% expense ratio, compared with 0.50% for SVOL.

Which ETF pays a higher dividend yield, USMV or SVOL?

SVOL has the higher dividend yield at 22.19%, compared with 1.54% for USMV.

What is the main difference between USMV and SVOL?

USMV is categorized as Large Cap Blend Equities, while SVOL is Volatility. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.15% for USMV and 0.50% for SVOL.

Which has better risk-adjusted returns?

SVOL currently has the higher Sharpe Ratio (0.50 vs 0.37), 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.