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USMV vs. VFMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USMV vs. VFMV

Last updated Aug 4, 2026
Documentation

USMV (iShares MSCI USA Min Vol Factor ETF) and VFMV (Vanguard U.S. Minimum Volatility ETF) are both Low Volatility funds. USMV is passively managed, while VFMV is actively managed. Over the past 5 years, USMV returned 6.93%/yr vs 9.42%/yr for VFMV. Their correlation of 0.90 means they have usually moved in the same direction. USMV charges 0.15%/yr vs 0.13%/yr for VFMV.

Performance

USMV vs. VFMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Min Vol Factor ETF (USMV) and Vanguard U.S. Minimum Volatility ETF (VFMV). 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 VFMV's 11.34% 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%

VFMV

1D
0.22%
1M
2.32%
6M
7.15%
YTD
11.34%
1Y
16.33%
3Y*
14.89%
5Y*
9.42%
10Y*
—
ALL TIME*
10.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

USMV

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

VFMV

Vanguard U.S. Minimum Volatility ETF
$2.03M$2.13M$2.31M

USMV vs. VFMV - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
USMV
iShares MSCI USA Min Vol Factor ETF		5.12%7.65%15.74%10.33%-9.43%20.85%5.64%27.69%2.54%
VFMV
Vanguard U.S. Minimum Volatility ETF		11.34%10.52%16.91%8.86%-5.73%20.75%-0.19%27.26%-0.34%

Correlation

The correlation between USMV and VFMV is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.80

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

0.89

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

0.91

Correlation (All Time)
Calculated using the full available price history since Feb 15, 2018

0.90

The correlation between USMV and VFMV shifts across timeframes, from 0.80 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

USMV vs. VFMV - Sectors Allocation Comparison

Sectors
USMV
VFMV

Technology

33.0%
25.1%

Healthcare

13.4%
10.1%

Financial Services

11.8%
10.6%

Consumer Defensive

9.3%
9.5%

Utilities

7.2%
6.7%

Industrials

6.4%
10.1%

Consumer Cyclical

5.8%
6.9%

Communication Services

5.7%
10.7%

Energy

2.6%
3.9%

Real Estate

2.6%
6.4%

Basic Materials

2.2%

-

Technology

USMV
33.0%
VFMV
25.1%

Healthcare

USMV
13.4%
VFMV
10.1%

Financial Services

USMV
11.8%
VFMV
10.6%

Consumer Defensive

USMV
9.3%
VFMV
9.5%

Utilities

USMV
7.2%
VFMV
6.7%

Industrials

USMV
6.4%
VFMV
10.1%

Consumer Cyclical

USMV
5.8%
VFMV
6.9%

Communication Services

USMV
5.7%
VFMV
10.7%

Energy

USMV
2.6%
VFMV
3.9%

Real Estate

USMV
2.6%
VFMV
6.4%

Basic Materials

USMV
2.2%
VFMV

-

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

Vanguard U.S. Minimum Volatility ETF

Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. ACWVUSMV vs. VTIUSMV vs. SPMV
Often compared with VFMV:
VFMV vs. VOOVFMV vs. SCHDVFMV vs. VYMVFMV vs. VIGVFMV vs. VFMFVFMV vs. SPYVFMV vs. USML

Return for Risk

USMV vs. VFMV — 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
VFMV
VFMV Risk / Return Rank: 7878
Overall Rank
VFMV Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VFMV Sortino Ratio Rank: 8181
Sortino Ratio Rank
VFMV Omega Ratio Rank: 7777
Omega Ratio Rank
VFMV Calmar Ratio Rank: 7676
Calmar Ratio Rank
VFMV Martin Ratio Rank: 8080
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. VFMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Min Vol Factor ETF (USMV) and Vanguard U.S. Minimum Volatility ETF (VFMV). 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.

USMVVFMVDifference
Sharpe ratioReturn per unit of total volatility
0.95
1.84

-0.89

Sortino ratioReturn per unit of downside risk
1.40
2.66

-1.27

Omega ratioGain probability vs. loss probability

1.17

1.33

-0.16

Calmar ratioReturn relative to maximum drawdown

1.25

2.73

-1.48

Martin ratioReturn relative to average drawdown

4.09

10.52

-6.43

USMV vs. VFMV - Sharpe Ratio Comparison

The current USMV Sharpe Ratio is 0.95, which is lower than the VFMV Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of USMV and VFMV, 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. VFMV - Drawdown Comparison

The maximum USMV drawdown since its inception was -33.10%, roughly equal to the maximum VFMV drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for USMV and VFMV.

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Drawdown Indicators

USMVVFMVDifference

Max Drawdown

Largest peak-to-trough decline

-33.10%

-33.64%

+0.54%

Max Drawdown (1Y)

Largest decline over 1 year

-6.46%

-6.00%

-0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-9.36%

-10.35%

+0.99%

Max Drawdown (5Y)

Largest decline over 5 years

-17.93%

-15.41%

-2.52%

Max Drawdown (10Y)

Largest decline over 10 years

-33.10%

—

—

Current Drawdown

Current decline from peak

-0.29%

-0.94%

+0.65%

Average Drawdown

Average peak-to-trough decline

-2.86%

-3.59%

+0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.56%

+0.42%

Volatility

USMV vs. VFMV - Volatility Comparison

iShares MSCI USA Min Vol Factor ETF (USMV) and Vanguard U.S. Minimum Volatility ETF (VFMV) have volatilities of 2.63% and 2.64%, 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.

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Volatility by Period

USMVVFMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

2.64%

-0.01%

Volatility (6M)

Calculated over the trailing 6-month period

6.44%

6.56%

-0.12%

Volatility (1Y)

Calculated over the trailing 1-year period

8.54%

8.93%

-0.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.38%

11.77%

+0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.51%

14.16%

+0.35%

USMV vs. VFMV - Expense Ratio Comparison

USMV has a 0.15% expense ratio, which is higher than VFMV's 0.13% 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%.

Dividends

USMV vs. VFMV - Dividend Comparison

USMV's dividend yield for the trailing twelve months is around 1.47%, less than VFMV's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VFMV
Vanguard U.S. Minimum Volatility ETF		1.74%2.12%1.46%2.20%2.08%1.31%2.14%2.43%2.29%0.00%0.00%0.00%

Frequently Asked Questions

USMV and VFMV have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VFMV has higher volatility (2.64%) compared to USMV (2.63%). In terms of maximum drawdown, USMV dropped -33.10% vs VFMV's -33.64%.

On 5-year performance, VFMV leads with 9.42% vs 6.93% for USMV. On fees, VFMV is cheaper at 0.13% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, VFMV has performed better with a 9.42% return vs 6.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VFMV is cheaper with a 0.13% expense ratio, compared with 0.15% for USMV.

VFMV has the higher dividend yield at 1.74%, compared with 1.47% for USMV.

They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for USMV and 0.13% for VFMV.

VFMV currently has the higher Sharpe Ratio (1.84 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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