Data as of Oct 28, 2026.
HYG vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, HYG returned +1.3% to USMV's +10.8%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $17.5bn for iShares iBoxx $ High Yield Corporate Bond ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.34 points a year less; their one-year returns differ by 9.5 points; USMV is 1.4 times larger.
| Measure | HYG | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.3% | +10.8% |
| Benchmark | ||
| What it tracks | Markit iBoxx USD Liquid High Yield Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.49% | 0.15% |
| Net assets, as of Oct 27, 2026 | $17.5bn | $24.1bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 93% | |
| Top ten holdings, share of the fund | 14.8% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 28, 2011 to Oct 23, 2026 · 782 weekly returnsUSMV returned more: +423.5% to +95.7%. HYG swung less: 8.8% to 13.4%. HYG fell less at its worst: −20.7% to −30.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | HYG | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +95.7% | +423.5% | USMV | Price change plus distributions, reinvested. |
| Annualized | +4.6% | +11.6% | USMV | Total return as a yearly rate. |
| Price return | −14.5% | +295.7% | USMV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 8.8% | 13.4% | HYG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 6.1% | 9.3% | HYG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −20.7% | −30.6% | HYG | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.36 | 0.76 | USMV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.52 | 1.09 | USMV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.22 | 0.38 | USMV | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 782 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, HYG and USMV hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
HYG and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
HYG and USMV do different jobs. What does each one do in a portfolio?
- What each follows. HYG follows Markit iBoxx USD Liquid High Yield Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 HYG returned +1.3% and USMV +10.8% with distributions reinvested, a gap of 9.5 points.
Data as of Oct 28, 2026.
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HYG
HYG tracks an index of US high yield bonds. Over the year to Oct 28, 2026 it returned +1.3% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.49% a year.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.
Questions people ask
- Which returned more over the last year, HYG or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, HYG returned +1.3% and USMV +10.8%.
- Which is cheaper, HYG or USMV?
- USMV is cheaper, by 0.34 percentage points a year. That is about $34 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, HYG against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/hyg-vs-usmv
ETFIQ. (Oct 28, 2026). HYG against USMV. Retrieved from https://etfiq.com/compare/any/hyg-vs-usmv
[HYG against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/hyg-vs-usmv)
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