VSMV vs. IDLV

Last updated Jun 26, 2026

VSMV (VictoryShares US Multi-Factor Minimum Volatility ETF) and IDLV (Invesco S&P International Developed Low Volatility ETF) are both Volatility Hedged Equity funds - VSMV tracks the Nasdaq Victory Multi-Factor Minimum Volatility Index while IDLV tracks the S&P BMI International Developed Low Volatility Index. Both are passively managed. Over the past 5 years, VSMV returned 10.98%/yr vs 6.21%/yr for IDLV. A 0.62 correlation means they provide meaningful diversification when combined. VSMV charges 0.35%/yr vs 0.25%/yr for IDLV.

Performance

VSMV vs. IDLV - Performance Comparison

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

Returns By Period

In the year-to-date period, VSMV achieves a 7.21% return, which is significantly higher than IDLV's 3.81% return.

VSMV

• 1D: 0.07%
• 1M: -2.57%
• YTD: 7.21%
• 6M: 6.29%
• 1Y: 22.88%
• 3Y*: 15.69%
• 5Y*: 10.98%
• 10Y*: —

IDLV

• 1D: 0.50%
• 1M: -0.58%
• YTD: 3.81%
• 6M: 3.41%
• 1Y: 10.73%
• 3Y*: 12.60%
• 5Y*: 6.21%
• 10Y*: 6.02%

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

VSMV vs. IDLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	7.21%	16.77%	15.79%	12.34%	-7.56%	25.66%	5.05%	26.79%	-1.12%	11.48%
IDLV Invesco S&P International Developed Low Volatility ETF	3.81%	27.77%	2.15%	9.18%	-12.21%	9.76%	-9.78%	20.09%	-8.02%	7.05%

Correlation

The correlation between VSMV and IDLV is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 22, 2017	0.62

The correlation between VSMV and IDLV has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

VSMV vs. IDLV - Sectors Allocation Comparison

Sectors	VSMV	IDLV
Technology	38.1%	0.7%
Consumer Defensive	16.1%	13.8%
Healthcare	14.1%	1.7%
Industrials	8.2%	16.7%
Financial Services	7.8%	23.3%
Communication Services	5.1%	8.7%
Consumer Cyclical	4.9%	3.7%
Energy	4.1%	3.6%
Basic Materials	1.6%	2.4%
Real Estate	0.0%	14.9%
Utilities	0.0%	11.2%

Return for Risk

VSMV vs. IDLV — Risk / Return Rank

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

VSMV

VSMV Risk / Return Rank: 87
VSMV Sharpe Ratio Rank: 87
VSMV Sortino Ratio Rank: 90
VSMV Omega Ratio Rank: 86
VSMV Calmar Ratio Rank: 88
VSMV Martin Ratio Rank: 87

IDLV

IDLV Risk / Return Rank: 32
IDLV Sharpe Ratio Rank: 33
IDLV Sortino Ratio Rank: 32
IDLV Omega Ratio Rank: 32
IDLV Calmar Ratio Rank: 31
IDLV Martin Ratio Rank: 30

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. IDLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and Invesco S&P International Developed Low Volatility ETF (IDLV). 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.

	VSMV	IDLV	Difference
Sharpe ratio: Return per unit of total volatility	2.48	1.10	+1.38
Sortino ratio: Return per unit of downside risk	3.60	1.59	+2.00
Omega ratio: Gain probability vs. loss probability	1.45	1.20	+0.25
Calmar ratio: Return relative to maximum drawdown	4.43	1.43	+3.00
Martin ratio: Return relative to average drawdown	16.14	3.82	+12.32

VSMV vs. IDLV - Sharpe Ratio Comparison

The current VSMV Sharpe Ratio is 2.48, which is higher than the IDLV Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of VSMV and IDLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VSMV vs. IDLV - Drawdown Comparison

The maximum VSMV drawdown since its inception was -31.33%, smaller than the maximum IDLV drawdown of -34.65%. Use the drawdown chart below to compare losses from any high point for VSMV and IDLV.

Drawdown Indicators

	VSMV	IDLV	Difference
Max Drawdown Largest peak-to-trough decline	-31.33%	-34.65%	+3.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-7.54%	+2.36%
Max Drawdown (3Y) Largest decline over 3 years	-13.22%	-9.97%	-3.25%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-22.52%	+4.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.65%	—
Current Drawdown Current decline from peak	-2.92%	-4.60%	+1.68%
Average Drawdown Average peak-to-trough decline	-3.40%	-5.94%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	2.81%	-1.39%

Volatility

VSMV vs. IDLV - Volatility Comparison

VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) has a higher volatility of 3.00% compared to Invesco S&P International Developed Low Volatility ETF (IDLV) at 2.69%. This indicates that VSMV's price experiences larger fluctuations and is considered to be riskier than IDLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMV	IDLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	2.69%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	6.70%	7.86%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.28%	9.81%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.87%	11.78%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	13.22%	+1.80%

VSMV vs. IDLV - Expense Ratio Comparison

VSMV has a 0.35% expense ratio, which is higher than IDLV's 0.25% expense ratio.

Dividends

VSMV vs. IDLV - Dividend Comparison

VSMV's dividend yield for the trailing twelve months is around 1.38%, less than IDLV's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDLV Invesco S&P International Developed Low Volatility ETF	5.05%	4.63%	3.41%	3.59%	4.69%	2.99%	2.30%	4.92%	3.94%	3.05%	3.92%	3.93%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	1.38%	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 IDLV in my portfolio?

VSMV and IDLV have a correlation of 0.60, 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 IDLV?

VSMV has higher volatility (3.00%) compared to IDLV (2.69%). In terms of maximum drawdown, VSMV dropped -31.33% vs IDLV's -34.65%.

Which ETF is better, VSMV or IDLV?

On 5-year performance, VSMV leads with 10.98% vs 6.21% for IDLV. On fees, IDLV is cheaper at 0.25% per year. On volatility, IDLV has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSMV or IDLV?

Over the 5-year period, VSMV has performed better with a 10.98% return vs 6.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSMV or IDLV?

IDLV is cheaper with a 0.25% expense ratio, compared with 0.35% for VSMV.

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

IDLV has the higher dividend yield at 5.05%, compared with 1.38% for VSMV.

What is the main difference between VSMV and IDLV?

VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index, while IDLV tracks S&P BMI International Developed Low Volatility Index. They also come from different issuers: Crestview and Invesco. Their fees differ too: 0.35% for VSMV and 0.25% for IDLV.

Which has better risk-adjusted returns?

VSMV currently has the higher Sharpe Ratio (2.48 vs 1.10), 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.