iShares MSCI USA Min Vol Factor ETF (USMV) Performance
USMV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.5% since Dec 31, 2025
- 1 year
- +10.6% total return
- 5 years
- +7.6% a year
- 10 years
- +10.8% a year
- Since first price
- +11.8% a year since 2011
USMV trailing returns vs SPY, QQQ, AGG
| Period | USMV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.4% | +4.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +7.5% | +7.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.9% | +9.2% | +7.8% | +8.4% | −1.5% |
| YTD | +10.5% | +9.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.6% | +9.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +51.5%+14.8%/yr | +44.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +44.0%+7.6%/yr | +32.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +178.1%+10.8%/yr | +132.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +430.4%+11.8%/yr | +301.1% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionOct 20, 2011 | +436.8%+11.8%/yr | +306.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: USMV vs SPY
From Oct 20, 2011: USMV grew to $53,685, SPY to $81,114.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
USMV returns by calendar year
13 of 14 full years positive. Best 2019 (+27.7%), worst 2022 (−9.4%). 2026 is year to date.
USMV annual returns table
| Year | USMV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.5% | −6.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.6% | −9.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.7% | −5.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +10.3% | −6.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.4% | −17.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +20.8% | −6.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +5.6% | −33.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.7% | −4.0% | +31.2% | +39.0% | +8.5% |
| 2018 | +1.3% | −12.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +18.9% | −2.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +10.6% | −7.3% | +12.0% | +7.1% | +2.4% |
| 2015 | +5.4% | −9.5% | +1.2% | +9.4% | +0.5% |
| 2014 | +16.3% | −5.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +25.1% | −6.6% | +32.3% | +36.6% | −2.0% |
| 2012 | +10.8% | −5.9% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
USMV largest drawdowns
Now 0.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2020 | −33.1% | Mar 23, 2020 | Jan 8, 2021 | 38 days | 11 months |
| Dec 29, 2021 | −17.9% | Oct 12, 2022 | Jan 2, 2024 | 9 months | 2.0 years |
| Sep 21, 2018 | −12.7% | Dec 24, 2018 | Feb 15, 2019 | 3 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
USMV risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +12.2% | +7.5% | +9.9% | +11.3% |
| Volatility (annualized) | 9.6% | 12.3% | 12.3% | 11.1% |
| Sharpe ratio | 0.80 | 0.36 | 0.64 | 0.88 |
| Sortino ratio | 1.24 | 0.55 | 0.96 | 1.39 |
| Best month | +6.4% | +7.7% | +9.4% | +9.4% |
| Worst month | −5.7% | −7.1% | −11.3% | −11.3% |
| Best 12 months | +28.4% | +28.4% | +30.5% | +30.5% |
| Worst 12 months | +0.6% | −9.4% | −9.4% | −9.4% |
| Positive months | 69% | 62% | 68% | 66% |
| Beta vs S&P 500 | 0.49 | 0.64 | 0.70 | — |
| Correlation with S&P 500 | 0.63 | 0.82 | 0.87 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
USMV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 169 | −9.4% | +12.8% | +30.5% | 93% |
| 3-year (a year) | 145 | +2.8% | +11.5% | +18.4% | 100% |
| 5-year (a year) | 121 | +6.8% | +11.0% | +15.1% | 100% |
| 10-year (a year) | 61 | +9.6% | +10.7% | +14.0% | 100% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
USMV performance overview
iShares MSCI USA Min Vol Factor ETF (USMV) returned +10.6% over the past year and +10.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +11.8% a year, turning $10,000 into about $53,685. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.1%, from Feb 14, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. USMV finished 13 of its 14 full calendar years with a gain; the best year was 2019 (+27.7%) and the worst 2022 (−9.4%). Volatility has been 11.1% a year.
Related: USMV chart, USMV holdings, USMV dividends, USMV valuation. See the USMV overview for the latest quote and fund facts.
USMV performance FAQ
What is the USMV return over the past year?
USMV returned +10.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.0%.
What is the average annual return of USMV?
USMV has returned +7.6% a year over 5 years, +10.8% a year over 10 years, +11.8% a year since October 20, 2011 (total return, distributions reinvested).
How much would $10,000 invested in USMV be worth?
$10,000 invested in USMV at its first recorded close on October 20, 2011 would be worth about $53,685 on October 23, 2026 with distributions reinvested.
What was the worst year for USMV?
The worst calendar year was 2022, with a total return of −9.4%. The best was 2019 at +27.7%.
What is the biggest drawdown of USMV?
The largest peak-to-trough decline was −33.1% between February 14, 2020 and March 23, 2020. It recovered to the old high on January 8, 2021, 10 months after the bottom.
How volatile is USMV?
Over the past 3 years USMV had an annualized volatility of 9.6% and a Sharpe ratio of 0.80 (excess return over 1–3 month T-bills per unit of risk).