BR vs USMV: Correlation
How closely do Broadridge Financial Solutions (BR) and iShares MSCI USA Min Vol Factor ETF (USMV) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BR and USMV?
Across a 3-year window, the weekly returns of BR and USMV correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 126.2 %².
Among the 45 assets we track against BR, USMV ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months USMV outperformed by 37.7 percentage points (-27.6% for BR against +10.1% for USMV). The rolling one-year correlation moved between 0.41 and 0.74 over the past three years, a moderate range. One caveat on sizing: BR is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BR vs USMV: side by side
| BR (Broadridge Financial Solutions) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -27.6% | +10.1% |
| 5-year return | +16.0% | +42.3% |
| Volatility (ann.) | 22.6% | 9.9% |
| Beta vs S&P 500 | 0.65 | 0.51 |
| Max drawdown (3Y) | -48.2% | -9.4% |
| Market cap | $20.9B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.15% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Industrials | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | BR | USMV |
|---|---|---|
| 2022 | -25.3% | -9.4% |
| 2023 | +56.2% | +10.3% |
| 2024 | +11.7% | +15.7% |
| 2025 | +0.3% | +7.6% |
| 2026 | -17.0% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BR and USMV good diversifiers for each other?
Only partially. A correlation of 0.56 means BR and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BR and USMV?
As of 2026-08-27, the correlation of weekly returns between BR and USMV is 0.56 over 3 years, 0.52 over 1 year and 0.66 over 5 years.
Is USMV a good diversifier for BR?
Only partially. A correlation of 0.56 means BR and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/br-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/br-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BR correlations · USMV correlations
