VPX vs. USMV
VPX (Variant Perception Cycle Aware US Equity ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. VPX is actively managed, while USMV is passively managed. At a 0.32 correlation, their price movements are largely independent. VPX charges 0.75%/yr vs 0.15%/yr for USMV.
Performance
VPX vs. USMV - Performance Comparison
Loading charts...
Returns By Period
VPX
- 1D
- 0.76%
- 1M
- 4.37%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USMV
- 1D
- -0.05%
- 1M
- 2.43%
- 6M
- 4.01%
- YTD
- 4.41%
- 1Y
- 5.73%
- 3Y*
- 11.70%
- 5Y*
- 7.15%
- 10Y*
- 9.57%
VPX vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
VPX Variant Perception Cycle Aware US Equity ETF | 20.65% |
USMV iShares MSCI USA Min Vol Factor ETF | 3.03% |
Correlation
The correlation between VPX and USMV is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026 | 0.32 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VPX vs. USMV — Risk / Return Rank
VPX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USMV
VPX vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Variant Perception Cycle Aware US Equity ETF (VPX) and iShares MSCI USA Min Vol 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.
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.
| VPX | USMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.12 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.89 | — |
| Martin ratioReturn relative to average drawdown | — | 2.91 | — |
Loading charts...
Drawdowns
VPX vs. USMV - Drawdown Comparison
The maximum VPX drawdown since its inception was -5.91%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for VPX and USMV.
Loading charts...
Drawdown Indicators
| VPX | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.91% | -33.10% | +27.19% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.46% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.36% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.10% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.76% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -2.87% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
VPX vs. USMV - Volatility Comparison
Loading charts...
Volatility by Period
| VPX | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 8.51% | +7.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.44% | 12.36% | +4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.44% | 14.49% | +1.95% |
VPX vs. USMV - Expense Ratio Comparison
VPX has a 0.75% expense ratio, which is higher than USMV's 0.15% expense ratio.
Dividends
VPX vs. USMV - Dividend Comparison
VPX has not paid dividends to shareholders, while USMV's dividend yield for the trailing twelve months is around 1.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USMV iShares MSCI USA Min Vol Factor ETF | 1.48% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
VPX Variant Perception Cycle Aware US Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VPX and USMV have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USMV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USMV is cheaper with a 0.15% expense ratio, compared with 0.75% for VPX.
USMV has the higher dividend yield at 1.48%, compared with 0.00% for VPX.
They also come from different issuers: Variant Perception and iShares. Their fees differ too: 0.75% for VPX and 0.15% for USMV.
Find the right allocation for VPX and USMV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer