YAFFX vs. USMV
YAFFX (AMG Yacktman Focused Fund) and USMV (iShares MSCI USA Min Vol Factor ETF) are both funds - YAFFX is a Large Cap Value Equities fund managed by AMG, while USMV is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index. Over the past 10 years, YAFFX returned 12.89%/yr vs 9.93%/yr for USMV. A 0.72 correlation means they provide meaningful diversification when combined. YAFFX charges 1.25%/yr vs 0.15%/yr for USMV.
Performance
YAFFX vs. USMV - Performance Comparison
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Returns By Period
In the year-to-date period, YAFFX achieves a 30.77% return, which is significantly higher than USMV's 2.65% return. Over the past 10 years, YAFFX has outperformed USMV with an annualized return of 12.89%, while USMV has yielded a comparatively lower 9.93% annualized return.
YAFFX
- 1D
- -0.48%
- 1M
- 8.70%
- YTD
- 30.77%
- 6M
- 14.70%
- 1Y
- 28.89%
- 3Y*
- 17.76%
- 5Y*
- 10.40%
- 10Y*
- 12.89%
USMV
- 1D
- -0.69%
- 1M
- 2.01%
- YTD
- 2.65%
- 6M
- 2.61%
- 1Y
- 4.37%
- 3Y*
- 11.79%
- 5Y*
- 7.45%
- 10Y*
- 9.93%
YAFFX vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YAFFX AMG Yacktman Focused Fund | 30.77% | 3.89% | 9.30% | 16.53% | -8.20% | 16.48% | 17.22% | 19.21% | 2.99% | 20.07% |
USMV iShares MSCI USA Min Vol Factor ETF | 2.65% | 7.65% | 15.74% | 10.33% | -9.43% | 20.85% | 5.64% | 27.69% | 1.33% | 18.91% |
Correlation
The correlation between YAFFX and USMV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011 | 0.72 |
Over the past year, the correlation between YAFFX and USMV has dropped to 0.26 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
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Return for Risk
YAFFX vs. USMV — Risk / Return Rank
YAFFX
USMV
YAFFX vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG Yacktman Focused Fund (YAFFX) 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.
| YAFFX | USMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.09 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 0.68 | +1.03 |
| Martin ratioReturn relative to average drawdown | 6.17 | 2.27 | +3.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YAFFX | USMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.52 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.61 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.69 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.87 | -0.25 |
Drawdowns
YAFFX vs. USMV - Drawdown Comparison
The maximum YAFFX drawdown since its inception was -43.80%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for YAFFX and USMV.
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Drawdown Indicators
| YAFFX | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -33.10% | -10.70% |
Max Drawdown (1Y)Largest decline over 1 year | -17.08% | -6.46% | -10.62% |
Max Drawdown (3Y)Largest decline over 3 years | -18.88% | -9.36% | -9.52% |
Max Drawdown (5Y)Largest decline over 5 years | -21.31% | -17.93% | -3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -30.62% | -33.10% | +2.48% |
Current DrawdownCurrent decline from peak | -0.48% | -1.18% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -2.88% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 1.93% | +2.77% |
Volatility
YAFFX vs. USMV - Volatility Comparison
AMG Yacktman Focused Fund (YAFFX) has a higher volatility of 6.13% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.38%. This indicates that YAFFX'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
| YAFFX | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 2.38% | +3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 22.29% | 5.91% | +16.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.19% | 8.50% | +13.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 12.35% | +5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 14.51% | +2.02% |
YAFFX vs. USMV - Expense Ratio Comparison
YAFFX has a 1.25% expense ratio, which is higher than USMV's 0.15% expense ratio.
Dividends
YAFFX vs. USMV - Dividend Comparison
YAFFX has not paid dividends to shareholders, while USMV's dividend yield for the trailing twelve months is around 1.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USMV iShares MSCI USA Min Vol Factor ETF | 1.53% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
YAFFX AMG Yacktman Focused Fund | 0.00% | 0.00% | 18.44% | 4.42% | 7.60% | 4.70% | 11.87% | 15.84% | 22.15% | 11.82% | 11.81% | 24.36% |
Frequently Asked Questions
YAFFX and USMV have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YAFFX has higher volatility (6.13%) compared to USMV (2.38%). In terms of maximum drawdown, YAFFX dropped -43.80% vs USMV's -33.10%.
YAFFX currently has the higher Sharpe Ratio (1.32 vs 0.52), 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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