USMV
iShares MSCI USA Min Vol Factor ETF
iShares MSCI USA Minimum Volatility Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the MSCI USA Minimum Volatility Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
22.8 B
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 18, 2011 |
| Assets (mns) | $22,843 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| WAL-MART STORES INC | 1.7 % |
| MICROSOFT CORP | 1.6 % |
| MERCK & CO. INC. | 1.6 % |
| CISCO SYSTEMS INC | 1.5 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.5 % |
| REPUBLIC SERVICES INC | 1.5 % |
| INTL BUSINESS MACHINES CORP | 1.5 % |
| PROGRESSIVE CORP | 1.5 % |
| T-MOBILE US, INC. | 1.5 % |
| WASTE CONNECTIONS, INC. | 1.5 % |
Constituent Breakdown
| Number of holdings | 182 |
| Herfindahl-Hirschman Index | 90 |
| Wgt avg mkt cap (mns) | $258,822 |
| Large cap (>$10bn) | 99.9% |
| Mid cap ($2-10bn) | 0.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
UNITED STATES | 92.5 % |
 |
IRELAND | 2.0 % |
 |
SWITZERLAND | 1.7 % |
 |
CANADA | 1.5 % |
 |
BERMUDA | 0.7 % |
 |
BRITAIN | 0.6 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 22.7% | 26.1% | 14.4% | 9.6% | 9.9% | 10.9% | 12.6% | Volatility | 8.2% | 8.4% | 10.1% | 13.1% | 17.6% | 14.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.72 | 83% |
| MSCI EAFE | 0.65 | 67% |
| MSCI Emg Mkts | 0.43 | 29% |
Liquidity Measures
| Avg. volume (000) | 1,649 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $135,859 |
Technical Indicators
| Recent close | $89.44 |
| 30d moving avg. | $93.01 |
| Annualized volatility | 13.9% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 4.3% |
| Short interest (underlying) | 1.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. USMV |
Expenses vs. USMV |
ALTAR Score™ vs. USMV |
|---|---|---|---|---|
| ESMV | iShares ESG MSCI USA Min Vol Factor ETF | 57.8% | +3 bp | +0.1% |
| ACWV | iShares MSCI Global Min Vol Factor ETF | 56.4% | +5 bp | +0.7% |
| QUS | SPDR MSCI USA StrategicFactors ETF | 54.6% | 0 bp | +0.1% |
| FDLO | Fidelity Low Volatility Factor ETF | 46.4% | 0 bp | -0.5% |
| ROUS | Hartford Multifactor US Equity ETF | 44.9% | +4 bp | +0.9% |
| LGLV | SPDR SSGA US Large Cap Low Volatility Index ETF | 44.4% | -3 bp | -0.3% |
| VFMV | Vanguard U.S. Minimum Volatility ETF | 41.8% | -2 bp | -0.7% |
| QWLD | SPDR MSCI World StrategicFactors ETF | 39.4% | +15 bp | +0.3% |
| GLOV | Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF | 39.0% | +10 bp | -0.1% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 38.8% | -3 bp | +0.0% |
Risk and Returns: USMV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/20/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
USMV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
USMV
5.9%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. USMV's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places USMV in the 54th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
USMVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| USMV (15 bp) Percentile rank | 17 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| USMV | 15.0 | 1.4 | 16.4 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .