WCAP vs. USMV
WCAP (WarCap Unconstrained Equity ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds. WCAP is actively managed, while USMV is passively managed. At a 0.42 correlation, their price movements are largely independent. WCAP charges 1.00%/yr vs 0.15%/yr for USMV.
Performance
WCAP vs. USMV - Performance Comparison
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Returns By Period
In the year-to-date period, WCAP achieves a -5.71% return, which is significantly lower than USMV's 4.41% return.
WCAP
- 1D
- 1.41%
- 1M
- -0.70%
- 6M
- -6.36%
- YTD
- -5.71%
- 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%
WCAP vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
WCAP WarCap Unconstrained Equity ETF | -5.71% | -2.03% |
USMV iShares MSCI USA Min Vol Factor ETF | 4.41% | 1.25% |
Correlation
The correlation between WCAP and USMV is 0.42, 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 Sep 11, 2025 | 0.42 |
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Return for Risk
WCAP vs. USMV — Risk / Return Rank
WCAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USMV
WCAP vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WarCap Unconstrained Equity ETF (WCAP) 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.
| WCAP | 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 | — |
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Drawdowns
WCAP vs. USMV - Drawdown Comparison
The maximum WCAP drawdown since its inception was -15.90%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for WCAP and USMV.
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Drawdown Indicators
| WCAP | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -33.10% | +17.20% |
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 | -8.92% | -0.76% | -8.16% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -2.87% | -4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
WCAP vs. USMV - Volatility Comparison
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Volatility by Period
| WCAP | 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 | 16.16% | 8.51% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 12.36% | +3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 14.49% | +1.67% |
WCAP vs. USMV - Expense Ratio Comparison
WCAP has a 1.00% expense ratio, which is higher than USMV's 0.15% expense ratio.
Dividends
WCAP vs. USMV - Dividend Comparison
WCAP's dividend yield for the trailing twelve months is around 0.04%, less than USMV's 1.48% yield.
| 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% |
WCAP WarCap Unconstrained Equity ETF | 0.04% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WCAP and USMV have a correlation of 0.42, 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 1.00% for WCAP.
USMV has the higher dividend yield at 1.48%, compared with 0.04% for WCAP.
They also come from different issuers: WarCap and iShares. Their fees differ too: 1.00% for WCAP and 0.15% for USMV.
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