VSMV vs. CIL

Last updated Jun 4, 2026

VSMV (VictoryShares US Multi-Factor Minimum Volatility ETF) and CIL (VictoryShares International Volatility Wtd ETF) are both exchange-traded funds - VSMV is a Volatility Hedged Equity fund tracking the Nasdaq Victory Multi-Factor Minimum Volatility Index, while CIL is a Foreign Large Cap Equities fund tracking the Nasdaq Victory International 500 Volatility Weighted Index. Both are passively managed. Over the past 5 years, VSMV returned 11.35%/yr vs 7.45%/yr for CIL. A 0.53 correlation means they provide meaningful diversification when combined. VSMV charges 0.35%/yr vs 0.45%/yr for CIL.

Performance

VSMV vs. CIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares International Volatility Wtd ETF (CIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSMV achieves a 9.29% return, which is significantly higher than CIL's 5.44% return.

VSMV

• 1D: 0.33%
• 1M: 2.75%
• YTD: 9.29%
• 6M: 9.79%
• 1Y: 24.46%
• 3Y*: 16.84%
• 5Y*: 11.35%
• 10Y*: —

CIL

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.44%
• 6M: 7.94%
• 1Y: 17.37%
• 3Y*: 15.59%
• 5Y*: 7.45%
• 10Y*: 8.21%

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

VSMV vs. CIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	9.29%	16.77%	15.79%	12.34%	-7.56%	25.66%	5.05%	26.79%	-1.12%	11.48%
CIL VictoryShares International Volatility Wtd ETF	5.44%	32.99%	3.76%	16.29%	-16.00%	11.07%	7.21%	19.13%	-13.34%	10.33%

Correlation

The correlation between VSMV and CIL is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.53

The correlation between VSMV and CIL has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

VSMV vs. CIL - Sectors Allocation Comparison

Sectors	VSMV	CIL
Technology	34.4%	6.4%
Consumer Defensive	17.6%	8.8%
Healthcare	14.8%	7.7%
Industrials	8.5%	18.4%
Financial Services	8.1%	24.8%
Communication Services	5.4%	5.8%
Consumer Cyclical	5.0%	8.2%
Energy	4.4%	4.6%
Basic Materials	1.8%	6.6%
Real Estate	0.0%	2.2%
Utilities	0.0%	6.6%

Return for Risk

VSMV vs. CIL — Risk / Return Rank

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

VSMV

VSMV Risk / Return Rank: 84
VSMV Sharpe Ratio Rank: 82
VSMV Sortino Ratio Rank: 88
VSMV Omega Ratio Rank: 81
VSMV Calmar Ratio Rank: 85
VSMV Martin Ratio Rank: 85

CIL

CIL Risk / Return Rank: 76
CIL Sharpe Ratio Rank: 68
CIL Sortino Ratio Rank: 70
CIL Omega Ratio Rank: 81
CIL Calmar Ratio Rank: 78
CIL Martin Ratio Rank: 83

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.

VSMV vs. CIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares International Volatility Wtd ETF (CIL). 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.

	VSMV	CIL	Difference
Sharpe ratio Return per unit of total volatility	2.71	2.24	+0.47
Sortino ratio Return per unit of downside risk	4.03	3.22	+0.81
Omega ratio Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio Return relative to maximum drawdown	4.74	3.95	+0.79
Martin ratio Return relative to average drawdown	18.09	16.75	+1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSMV vs. CIL - Sharpe Ratio Comparison

The current VSMV Sharpe Ratio is 2.71, which is comparable to the CIL Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of VSMV and CIL, 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

	VSMV	CIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.24	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.46	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.43	+0.39

Drawdowns

VSMV vs. CIL - Drawdown Comparison

The maximum VSMV drawdown since its inception was -31.33%, smaller than the maximum CIL drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for VSMV and CIL.

Drawdown Indicators

	VSMV	CIL	Difference
Max Drawdown Largest peak-to-trough decline	-31.33%	-36.27%	+4.94%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-4.60%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-13.22%	-11.96%	-1.26%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-29.89%	+11.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.27%	—
Current Drawdown Current decline from peak	-0.79%	-0.58%	-0.21%
Average Drawdown Average peak-to-trough decline	-3.41%	-6.56%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	1.07%	+0.29%

Volatility

VSMV vs. CIL - Volatility Comparison

VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) has a higher volatility of 2.41% compared to VictoryShares International Volatility Wtd ETF (CIL) at 0.00%. This indicates that VSMV's price experiences larger fluctuations and is considered to be riskier than CIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMV	CIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	0.00%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	6.34%	4.23%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	8.19%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.86%	16.49%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	17.17%	-2.13%

VSMV vs. CIL - Expense Ratio Comparison

VSMV has a 0.35% expense ratio, which is lower than CIL's 0.45% expense ratio.

Dividends

VSMV vs. CIL - Dividend Comparison

VSMV's dividend yield for the trailing twelve months is around 1.31%, less than CIL's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIL VictoryShares International Volatility Wtd ETF	1.67%	2.70%	3.46%	2.91%	2.41%	3.04%	1.73%	2.69%	2.85%	2.17%	2.34%	0.43%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	1.31%	1.35%	1.36%	1.77%	1.99%	1.36%	2.01%	2.00%	2.42%	1.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSMV and CIL in my portfolio?

VSMV and CIL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSMV or CIL?

VSMV has higher volatility (2.41%) compared to CIL (0.00%). In terms of maximum drawdown, VSMV dropped -31.33% vs CIL's -36.27%.

Which ETF is better, VSMV or CIL?

On 5-year performance, VSMV leads with 11.35% vs 7.45% for CIL. On fees, VSMV is cheaper at 0.35% per year. On volatility, CIL has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSMV or CIL?

Over the 5-year period, VSMV has performed better with a 11.35% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSMV or CIL?

VSMV is cheaper with a 0.35% expense ratio, compared with 0.45% for CIL.

Which ETF pays a higher dividend yield, VSMV or CIL?

CIL has the higher dividend yield at 1.67%, compared with 1.31% for VSMV.

What is the main difference between VSMV and CIL?

VSMV is categorized as Volatility Hedged Equity, while CIL is Foreign Large Cap Equities. VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index, while CIL tracks Nasdaq Victory International 500 Volatility Weighted Index. Their fees differ too: 0.35% for VSMV and 0.45% for CIL.

Which has better risk-adjusted returns?

VSMV currently has the higher Sharpe Ratio (2.71 vs 2.24), 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.