Data as of Oct 28, 2026.
USMV vs VBIL: Differences, Returns & Fees
Over the year to Oct 28, 2026, USMV returned +10.8% to VBIL's +3.7%; 0% of their weight is in the same names.
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Net assets: $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF, and $12.8bn on Sep 30, 2026 for Vanguard 0-3 Month Treasury Bill ETF.
Pair scorecard
VBIL costs 0.09 points a year less; their one-year returns differ by 7.1 points; USMV is 1.8 times larger.
| Measure | USMV | VBIL |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.8% | +3.7% |
| Benchmark | ||
| What it tracks | MSCI USA Minimum Volatility (USD) Index | Bloomberg U.S. Treasury Bills 0-3 Months Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.06% |
| Net assets, as of Sep 30, 2026 | $23.2bn | $12.8bn |
| 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 Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 21, 2025 to Oct 23, 2026 · 87 weekly returnsUSMV returned more: +13.5% to +6.7%. VBIL swung less: 0.1% to 10.0%. VBIL fell less at its worst: 0.0% to −7.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | USMV | VBIL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +13.5% | +6.7% | USMV | Price change plus distributions, reinvested. |
| Annualized | +7.9% | +3.9% | USMV | Total return as a yearly rate. |
| Price return | +10.6% | +0.8% | USMV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.0% | 0.1% | VBIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.2% | 0.1% | VBIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −7.5% | 0.0% | VBIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.41 | −0.64 | USMV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.57 | −0.90 | USMV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.05 | Not measured | Annualized return divided by the max drawdown. | |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 87 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, USMV and VBIL hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
USMV and VBIL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
USMV and VBIL do different jobs. What does each one do in a portfolio?
- What each follows. USMV follows MSCI USA Minimum Volatility (USD) Index and VBIL follows Bloomberg U.S. Treasury Bills 0-3 Months Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 USMV returned +10.8% and VBIL +3.7% with distributions reinvested, a gap of 7.1 points.
Data as of Oct 28, 2026.
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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%.
VBIL
VBIL tracks an index of 0-3 Month Treasury Bill. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.06% a year.
Questions people ask
- Which returned more over the last year, USMV or VBIL?
- In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and VBIL +3.7%.
- Which is cheaper, USMV or VBIL?
- VBIL is cheaper, by 0.09 percentage points a year. That is about $9 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.
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ETFIQ, USMV against VBIL, data as of Oct 28, 2026. https://etfiq.com/compare/any/usmv-vs-vbil
ETFIQ. (Oct 28, 2026). USMV against VBIL. Retrieved from https://etfiq.com/compare/any/usmv-vs-vbil
[USMV against VBIL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/usmv-vs-vbil)
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