USMV vs VT: Correlation & Overlap
Measured on weekly returns over the past three years, iShares MSCI USA Min Vol Factor ETF (USMV) and Vanguard Total World Stock ETF (VT) carry a correlation of 0.75, a strong link. The two funds also share 25.1% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USMV and VT?
Over the past 3 years, USMV and VT moved with a correlation of 0.75, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.75 over 3 years. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 103.4 %².
Among the 125 assets we track against USMV, VT ranks #17 by 3-year correlation. The trailing year gives VT the advantage: +10.1% versus +22.7%, a 12.6-point spread. On a rolling one-year basis the correlation drifted between 0.53 and 0.86, a moderate band.
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.
USMV vs VT: side by side
| USMV (iShares MSCI USA Min Vol Factor ETF) | VT (Vanguard Total World Stock ETF) | |
|---|---|---|
| 1-year return | +10.1% | +22.7% |
| 5-year return | +42.3% | +67.7% |
| Volatility (ann.) | 9.9% | 13.9% |
| Beta vs S&P 500 | 0.51 | 0.92 |
| Max drawdown (3Y) | -9.4% | -16.5% |
| Dividend yield | 1.48% | 1.59% |
| Expense ratio | 0.15% | 0.06% |
| Assets under management | $23.6B | $97.9B |
| Sector / category | ETF · US Style | ETF · Global |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield. VT is a Global Large-Stock Blend fund from Vanguard: $97.9B under management, 5308 holdings, a 0.06% expense ratio, a 1.59% trailing dividend yield.
Portfolio overlap between USMV and VT
The two portfolios partially overlap, with 163 holdings in common adding up to 25.1% of fund weight. Where correlation shows the co-movement, the overlap shows its source.
| Common holding | Weight in USMV | Weight in VT |
|---|---|---|
| MSFT | 1.68% | 3.09% |
| NVDA | 1.35% | 4.20% |
| AVGO | 0.90% | 1.62% |
| AAPL | 0.88% | 4.00% |
| LLY | 0.79% | 0.82% |
| BRK.B | 1.41% | 0.75% |
| MU | 0.71% | 0.83% |
| AMD | 0.67% | 0.69% |
| XOM | 1.38% | 0.58% |
| JNJ | 1.58% | 0.55% |
| V | 1.02% | 0.54% |
| WMT | 0.65% | 0.44% |
| MA | 1.28% | 0.41% |
| CSCO | 1.38% | 0.41% |
| ABBV | 0.73% | 0.40% |
Largest positions held only by USMV: ERIE (0.09%). Only by VT: GOOGL (1.89%), 2330 (1.61%), JPM (0.84%), TSLA (0.81%), 005930 (0.72%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | USMV | VT |
|---|---|---|
| 2022 | -9.4% | -18.0% |
| 2023 | +10.3% | +22.0% |
| 2024 | +15.7% | +16.5% |
| 2025 | +7.6% | +22.4% |
| 2026 | +9.1% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are USMV and VT good diversifiers for each other?
Only partially. A correlation of 0.75 means USMV and VT 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 USMV and VT?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.53 over the last year and 0.81 over 5 years.
Is VT a good diversifier for USMV?
Only partially. A correlation of 0.75 means USMV and VT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do USMV and VT overlap?
25.1% by weight, across 163 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
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Hubs: USMV correlations · VT correlations
