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XMAG vs. USMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMAG vs. USMV

Last updated Jul 17, 2026
Documentation

XMAG (Defiance Large Cap ex-Mag 7 ETF) and USMV (iShares MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - XMAG tracks the BITA US 500 ex Magnificent 7 Index while USMV tracks the MSCI USA Minimum Volatility Index. Both are passively managed. Over the past year, XMAG returned 20.23% vs 6.27% for USMV. A 0.70 correlation means they provide meaningful diversification when combined. XMAG charges 0.35%/yr vs 0.15%/yr for USMV.

Performance

XMAG vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) and iShares MSCI USA Min Vol Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XMAG achieves a 12.34% return, which is significantly higher than USMV's 3.90% return.

XMAG

1D
-0.41%
1M
-0.67%
6M
9.96%
YTD
12.34%
1Y
20.23%
3Y*
—
5Y*
—
10Y*
—

USMV

1D
1.08%
1M
1.27%
6M
3.44%
YTD
3.90%
1Y
6.27%
3Y*
11.14%
5Y*
6.96%
10Y*
9.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMAG vs. USMV - Yearly Performance Comparison

2026 (YTD)20252024
XMAG
Defiance Large Cap ex-Mag 7 ETF		12.34%15.63%-1.52%
USMV
iShares MSCI USA Min Vol Factor ETF		3.90%7.65%-3.52%

Correlation

The correlation between XMAG and USMV is 0.57, 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

0.57

Correlation (All Time)
Calculated using the full available price history since Oct 22, 2024

0.70

The correlation between XMAG and USMV shifts across timeframes, from 0.57 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

XMAG vs. USMV - Sectors Allocation Comparison

Sectors
XMAG
USMV

Technology

26.7%
33.9%

Financial Services

17.2%
11.7%

Healthcare

13.7%
12.6%

Industrials

11.6%
6.1%

Consumer Defensive

6.9%
9.4%

Consumer Cyclical

5.5%
5.7%

Energy

4.6%
2.7%

Utilities

3.8%
6.9%

Communication Services

3.0%
6.2%

Real Estate

2.6%
2.5%

Basic Materials

2.6%
2.4%

Technology

XMAG
26.7%
USMV
33.9%

Financial Services

XMAG
17.2%
USMV
11.7%

Healthcare

XMAG
13.7%
USMV
12.6%

Industrials

XMAG
11.6%
USMV
6.1%

Consumer Defensive

XMAG
6.9%
USMV
9.4%

Consumer Cyclical

XMAG
5.5%
USMV
5.7%

Energy

XMAG
4.6%
USMV
2.7%

Utilities

XMAG
3.8%
USMV
6.9%

Communication Services

XMAG
3.0%
USMV
6.2%

Real Estate

XMAG
2.6%
USMV
2.5%

Basic Materials

XMAG
2.6%
USMV
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Defiance Large Cap ex-Mag 7 ETF

iShares MSCI USA Min Vol Factor ETF

Often compared with XMAG:
XMAG vs. SPYXMAG vs. MAGSXMAG vs. VOOXMAG vs. RSPXMAG vs. SPXTXMAG vs. VTVXMAG vs. ^GSPC
Often compared with USMV:
USMV vs. SPLVUSMV vs. SPYUSMV vs. VOOUSMV vs. QUALUSMV vs. VFMVUSMV vs. ACWVUSMV vs. VTI

Return for Risk

XMAG vs. USMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMAG
XMAG Risk / Return Rank: 6969
Overall Rank
XMAG Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XMAG Sortino Ratio Rank: 6868
Sortino Ratio Rank
XMAG Omega Ratio Rank: 6161
Omega Ratio Rank
XMAG Calmar Ratio Rank: 6969
Calmar Ratio Rank
XMAG Martin Ratio Rank: 8080
Martin Ratio Rank
USMV
USMV Risk / Return Rank: 2525
Overall Rank
USMV Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
USMV Sortino Ratio Rank: 2323
Sortino Ratio Rank
USMV Omega Ratio Rank: 2222
Omega Ratio Rank
USMV Calmar Ratio Rank: 2525
Calmar Ratio Rank
USMV Martin Ratio Rank: 2929
Martin Ratio Rank
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.

XMAG vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) 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.

XMAGUSMVDifference
Sharpe ratioReturn per unit of total volatility
1.72
0.74

+0.98

Sortino ratioReturn per unit of downside risk
2.48
1.10

+1.39

Omega ratioGain probability vs. loss probability

1.30

1.13

+0.17

Calmar ratioReturn relative to maximum drawdown

2.79

0.98

+1.81

Martin ratioReturn relative to average drawdown

12.02

3.18

+8.84

XMAG vs. USMV - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 1.72, which is higher than the USMV Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of XMAG and USMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XMAG vs. USMV - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for XMAG and USMV.

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Drawdown Indicators

XMAGUSMVDifference

Max Drawdown

Largest peak-to-trough decline

-16.17%

-33.10%

+16.93%

Max Drawdown (1Y)

Largest decline over 1 year

-7.29%

-6.46%

-0.83%

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 Drawdown

Current decline from peak

-2.78%

-1.24%

-1.54%

Average Drawdown

Average peak-to-trough decline

-2.05%

-2.87%

+0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

1.98%

-0.29%

Volatility

XMAG vs. USMV - Volatility Comparison

Defiance Large Cap ex-Mag 7 ETF (XMAG) has a higher volatility of 3.47% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 3.00%. This indicates that XMAG'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

XMAGUSMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

3.00%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

9.47%

6.41%

+3.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.82%

8.53%

+3.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.08%

12.38%

+2.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.08%

14.50%

+0.58%

XMAG vs. USMV - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

XMAG vs. USMV - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.46%, less than USMV's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
USMV
iShares MSCI USA Min Vol Factor ETF		1.49%1.49%1.67%1.82%1.62%1.26%1.81%1.88%2.12%1.77%2.22%2.02%
XMAG
Defiance Large Cap ex-Mag 7 ETF		0.46%0.51%0.24%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

XMAG and USMV have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XMAG has higher volatility (3.47%) compared to USMV (3.00%). In terms of maximum drawdown, XMAG dropped -16.17% vs USMV's -33.10%.

On 1-year performance, XMAG leads with 20.23% vs 6.27% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, USMV has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, XMAG has performed better with a 20.23% return vs 6.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

USMV is cheaper with a 0.15% expense ratio, compared with 0.35% for XMAG.

USMV has the higher dividend yield at 1.49%, compared with 0.46% for XMAG.

XMAG tracks BITA US 500 ex Magnificent 7 Index, while USMV tracks MSCI USA Minimum Volatility Index. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.35% for XMAG and 0.15% for USMV.

XMAG currently has the higher Sharpe Ratio (1.72 vs 0.74), 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.

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