USMV vs WHLR: Correlation
Measured on weekly returns over the past three years, iShares MSCI USA Min Vol Factor ETF (USMV) and Wheeler Real Estate Investment Trust, Inc. (WHLR) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USMV and WHLR?
Across a 3-year window, the weekly returns of USMV and WHLR correlate at -0.16, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -852.9 %².
By 3-year correlation, WHLR places #120 of the 125 assets tracked against USMV. Correlation aside, the last 12 months split them widely, with USMV ahead by 110.1 points (+10.1% versus -100.0%). One caveat on sizing: WHLR is 55.1 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.
USMV vs WHLR: side by side
| USMV (iShares MSCI USA Min Vol Factor ETF) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +10.1% | -100.0% |
| 5-year return | +42.3% | -100.0% |
| Volatility (ann.) | 9.9% | 545.0% |
| Beta vs S&P 500 | 0.51 | -5.84 |
| Max drawdown (3Y) | -9.4% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 1.48% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $23.6B | – |
| Sector / category | ETF · US Style | US Listed |
On the fund side, USMV sits in the Large Blend category at iShares, with $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | USMV | WHLR |
|---|---|---|
| 2022 | -9.4% | -28.0% |
| 2023 | +10.3% | -98.4% |
| 2024 | +15.7% | -98.4% |
| 2025 | +7.6% | -100.0% |
| 2026 | +9.1% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are USMV and WHLR good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between USMV and WHLR?
As of 2026-08-27, the correlation of weekly returns between USMV and WHLR is -0.16 over 3 years, -0.12 over 1 year and -0.09 over 5 years.
Is WHLR a good diversifier for USMV?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
A reading of -0.16 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
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Related comparisons
Hubs: USMV correlations · WHLR correlations
