USSG vs. MFUS

Last updated Jun 5, 2026

USSG (Xtrackers MSCI USA ESG Leaders Equity ETF) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - USSG tracks the MSCI USA ESG Leaders while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, USSG returned 14.04%/yr vs 12.86%/yr for MFUS. Their correlation of 0.86 suggests significant overlap in exposure. USSG charges 0.10%/yr vs 0.30%/yr for MFUS.

Performance

USSG vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USSG achieves a 10.71% return, which is significantly lower than MFUS's 16.59% return.

USSG

• 1D: 1.10%
• 1M: 5.20%
• YTD: 10.71%
• 6M: 11.08%
• 1Y: 29.11%
• 3Y*: 22.87%
• 5Y*: 14.04%
• 10Y*: —

MFUS

• 1D: 0.19%
• 1M: 4.47%
• YTD: 16.59%
• 6M: 16.69%
• 1Y: 28.65%
• 3Y*: 22.52%
• 5Y*: 12.86%
• 10Y*: —

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

USSG vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	10.71%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	16.59%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	15.55%

Correlation

The correlation between USSG and MFUS is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.86

The correlation between USSG and MFUS shifts across timeframes, from 0.73 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

USSG vs. MFUS - Sectors Allocation Comparison

Sectors	USSG	MFUS
Technology	36.9%	21.8%
Communication Services	14.5%	5.3%
Financial Services	10.6%	12.6%
Healthcare	9.6%	13.5%
Consumer Cyclical	8.6%	10.6%
Industrials	8.1%	12.6%
Consumer Defensive	4.2%	10.3%
Real Estate	2.2%	1.8%
Basic Materials	2.1%	2.8%
Energy	2.1%	7.0%
Utilities	1.1%	1.7%

Return for Risk

USSG vs. MFUS — Risk / Return Rank

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

USSG

USSG Risk / Return Rank: 64
USSG Sharpe Ratio Rank: 69
USSG Sortino Ratio Rank: 70
USSG Omega Ratio Rank: 66
USSG Calmar Ratio Rank: 54
USSG Martin Ratio Rank: 63

MFUS

MFUS Risk / Return Rank: 84
MFUS Sharpe Ratio Rank: 83
MFUS Sortino Ratio Rank: 86
MFUS Omega Ratio Rank: 81
MFUS Calmar Ratio Rank: 84
MFUS Martin Ratio Rank: 87

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.

USSG vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

	USSG	MFUS	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.69	-0.47
Sortino ratio: Return per unit of downside risk	3.12	3.85	-0.73
Omega ratio: Gain probability vs. loss probability	1.39	1.48	-0.09
Calmar ratio: Return relative to maximum drawdown	2.61	4.51	-1.90
Martin ratio: Return relative to average drawdown	11.19	18.52	-7.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USSG vs. MFUS - Sharpe Ratio Comparison

The current USSG Sharpe Ratio is 2.22, which is comparable to the MFUS Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of USSG and MFUS, 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

	USSG	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.69	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.86	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.79	+0.06

Drawdowns

USSG vs. MFUS - Drawdown Comparison

The maximum USSG drawdown since its inception was -34.10%, roughly equal to the maximum MFUS drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for USSG and MFUS.

Drawdown Indicators

	USSG	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-34.10%	-35.21%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-6.39%	-4.81%
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	-15.39%	-4.61%
Max Drawdown (5Y) Largest decline over 5 years	-27.00%	-18.22%	-8.78%
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-5.60%	-3.99%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	1.55%	+1.06%

Volatility

USSG vs. MFUS - Volatility Comparison

Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) has a higher volatility of 3.86% compared to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) at 2.97%. This indicates that USSG's price experiences larger fluctuations and is considered to be riskier than MFUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSG	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	2.97%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	10.09%	8.22%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	10.71%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	15.03%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	17.35%	+2.81%

USSG vs. MFUS - Expense Ratio Comparison

USSG has a 0.10% expense ratio, which is lower than MFUS's 0.30% expense ratio.

Dividends

USSG vs. MFUS - Dividend Comparison

USSG's dividend yield for the trailing twelve months is around 0.94%, less than MFUS's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.35%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.94%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USSG and MFUS in my portfolio?

USSG and MFUS have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USSG or MFUS?

USSG has higher volatility (3.86%) compared to MFUS (2.97%). In terms of maximum drawdown, USSG dropped -34.10% vs MFUS's -35.21%.

Which ETF is better, USSG or MFUS?

On 5-year performance, USSG leads with 14.04% vs 12.86% for MFUS. On fees, USSG is cheaper at 0.10% per year. On volatility, MFUS has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USSG or MFUS?

Over the 5-year period, USSG has performed better with a 14.04% return vs 12.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USSG or MFUS?

USSG is cheaper with a 0.10% expense ratio, compared with 0.30% for MFUS.

Which ETF pays a higher dividend yield, USSG or MFUS?

MFUS has the higher dividend yield at 1.35%, compared with 0.94% for USSG.

What is the main difference between USSG and MFUS?

USSG tracks MSCI USA ESG Leaders, while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. They also come from different issuers: Deutsche Bank and PIMCO. Their fees differ too: 0.10% for USSG and 0.30% for MFUS.

Which has better risk-adjusted returns?

MFUS currently has the higher Sharpe Ratio (2.69 vs 2.22), 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.