VFMV vs. USMV
Compare and contrast key facts about Vanguard U.S. Minimum Volatility ETF (VFMV) and iShares MSCI USA Minimum Volatility Factor ETF (USMV).
VFMV and USMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VFMV is an actively managed fund by Vanguard. It was launched on Feb 13, 2018. USMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Oct 18, 2011.
Performance
VFMV vs. USMV - Performance Comparison
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VFMV vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VFMV Vanguard U.S. Minimum Volatility ETF | 2.90% | 10.52% | 16.91% | 8.86% | -5.73% | 20.75% | -0.19% | 27.26% | -1.10% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | -1.18% | 7.65% | 15.74% | 10.33% | -9.43% | 20.85% | 5.64% | 27.69% | 1.28% |
Returns By Period
In the year-to-date period, VFMV achieves a 2.90% return, which is significantly higher than USMV's -1.18% return.
VFMV
- 1D
- 0.35%
- 1M
- -4.26%
- YTD
- 2.90%
- 6M
- 3.50%
- 1Y
- 7.75%
- 3Y*
- 12.83%
- 5Y*
- 9.31%
- 10Y*
- —
USMV
- 1D
- -0.08%
- 1M
- -4.74%
- YTD
- -1.18%
- 6M
- -1.61%
- 1Y
- 0.57%
- 3Y*
- 10.26%
- 5Y*
- 7.59%
- 10Y*
- 9.64%
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VFMV vs. USMV - Expense Ratio Comparison
VFMV has a 0.13% expense ratio, which is lower than USMV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VFMV vs. USMV — Risk / Return Rank
VFMV
USMV
VFMV vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Minimum Volatility ETF (VFMV) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). 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.
| VFMV | USMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 0.05 | +0.59 |
Sortino ratioReturn per unit of downside risk | 0.94 | 0.15 | +0.79 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.02 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.80 | 0.06 | +0.74 |
Martin ratioReturn relative to average drawdown | 3.69 | 0.25 | +3.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VFMV | USMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.05 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.62 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.85 | -0.20 |
Correlation
The correlation between VFMV and USMV is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VFMV vs. USMV - Dividend Comparison
VFMV's dividend yield for the trailing twelve months is around 2.04%, more than USMV's 1.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFMV Vanguard U.S. Minimum Volatility ETF | 2.04% | 2.12% | 1.46% | 2.20% | 2.08% | 1.31% | 2.14% | 2.43% | 2.29% | 0.00% | 0.00% | 0.00% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | 1.59% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
Drawdowns
VFMV vs. USMV - Drawdown Comparison
The maximum VFMV drawdown since its inception was -33.64%, roughly equal to the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for VFMV and USMV.
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Drawdown Indicators
| VFMV | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.64% | -33.10% | -0.54% |
Max Drawdown (1Y)Largest decline over 1 year | -9.63% | -8.91% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -15.41% | -17.93% | +2.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.10% | — |
Current DrawdownCurrent decline from peak | -4.26% | -4.87% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -2.88% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.03% | +0.06% |
Volatility
VFMV vs. USMV - Volatility Comparison
Vanguard U.S. Minimum Volatility ETF (VFMV) has a higher volatility of 3.43% compared to iShares MSCI USA Minimum Volatility Factor ETF (USMV) at 3.02%. This indicates that VFMV's price experiences larger fluctuations and is considered to be riskier than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFMV | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 3.02% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 6.07% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 12.50% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.77% | 12.38% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.34% | 14.51% | -0.17% |