Overview
US large and mid-caps engineered into the least-volatile portfolio the index rules allow — the smoother ride, accepted upfront at the cost of bull-market upside.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| BRK.B | Berkshire Hathaway | 1.7% |
| JNJ | Johnson & Johnson | 1.6% |
| V | Visa Inc. | 1.6% |
| PG | Procter & Gamble | 1.5% |
| MRK | Merck & Co. | 1.4% |
| KO | Coca-Cola | 1.4% |
| CSCO | Cisco Systems | 1.3% |
| MCD | McDonald's | 1.3% |
| ACN | Accenture | 1.2% |
| TMUS | T-Mobile US | 1.2% |
Fund Details
Investment Thesis
The low-volatility anomaly — boring stocks earning nearly market returns with materially smaller swings — is one of the oldest documented market inefficiencies, and USMV is its definitive implementation. The optimiser builds the tamest portfolio it can while staying diversified, which produces heavy staples, healthcare and insurance weights. Its +10.3% year against the market's +23.7% is the strategy behaving exactly as designed in a momentum-led market: it lags euphoria and earns its keep in downturns.
Who It's For
Nervous holders who would otherwise sell in corrections, retirees drawing down portfolios, and allocators who want equity exposure with structurally smaller drawdowns.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $39.42 | -- |
| 2017 | $46.87 | +18.9% |
| 2018 | $47.38 | +1.1% |
| 2019 | $59.70 | +26.0% |
| 2020 | $62.81 | +5.2% |
| 2021 | $75.75 | +20.6% |
| 2022 | $68.63 | -9.4% |
| 2023 | $75.56 | +10.1% |
| 2024 | $85.68 | +13.4% |
| 2025 | $94.76 | +10.6% |
| Year | Yield |
|---|---|
| 2016 | 1.87% |
| 2017 | 1.93% |
| 2018 | 1.77% |
| 2019 | 1.83% |
| 2020 | 1.67% |
| 2021 | 1.73% |
| 2022 | 1.58% |
| 2023 | 1.63% |
| 2024 | 1.48% |
| 2025 | 1.48% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $13B | -- |
| 2017 | $14B | +7.7% |
| 2018 | $15B | +7.1% |
| 2019 | $16B | +6.7% |
| 2020 | $17B | +6.2% |
| 2021 | $19B | +11.8% |
| 2022 | $20B | +5.3% |
| 2023 | $22B | +10.0% |
| 2024 | $23B | +4.5% |
| 2025 | $25B | +8.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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