INRO vs USMV
iShares US Industry Rotation Active ETF vs iShares MSCI USA Minimum Volatility Factor ETF
Which is better, INRO or USMV?
INRO has been ahead.
USMV has a lower expense ratio. INRO led over 1Y and the full window. USMV is less concentrated, with 15.1% of the fund in its ten largest positions against 38.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | INRO | USMV |
|---|---|---|
| Expense Ratio | 0.42% | 0.15%Best |
| AUM | $416M | $23.3B |
| Dividend Yield | 0.59% | 1.42% |
| Holdings | 296 | 178 |
| YTD Return | +16.58%Best | +7.92% |
| 1Y Return | +19.83%Best | +7.64% |
| 3Y Return (annualized) | - | +12.58% |
| 5Y Return (annualized) | - | +7.80% |
| Volatility (annualized) | 12.9% | 9.6%Best |
| Max Drawdown | -20.0% | -9.4%Best |
| $10,000 over 2.5 years | $15,023Best | $12,384 |
| Top 10 Weight | 38.5% | 15.1%Best |
| Fund Family | BlackRock, Inc. (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 26, 2024 | Oct 18, 2011 |
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 28, 2024 to Oct 13, 2026 (2.5 years).
INRO vs USMV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.5 years both funds cover.
INRO vs USMV Performance
iShares US Industry Rotation Active ETF (INRO) is an ETF from BlackRock, Inc. (US) and iShares MSCI USA Minimum Volatility Factor ETF (USMV) is an ETF from iShares by BlackRock (US). Over the past year INRO returned +19.83% while USMV returned +7.64%. Year to date, INRO is up 16.58% versus a gain of 7.92% for USMV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
INRO has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 9.6% for USMV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.0% for INRO and -9.4% for USMV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
INRO charges 0.42% per year while USMV charges 0.15%. On a $10,000 position that is $42 vs $15 annually, a gap of $27 per year that compounds over a long holding period. On income, INRO currently yields 0.59% against 1.42% for USMV.
Holdings Overlap
66.5% of INRO's money is in holdings USMV also owns. 63.9% of USMV's money is in holdings INRO also owns.
The two portfolios partly overlap.
102 positions in common, counted across the 293 positions we hold weights for in INRO and 175 in USMV, against full books of 296 and 178.
What only one of them owns
Our book lists 71 positions for USMV that do not appear in our book for INRO (34.4% of the fund), and 178 for INRO that do not appear in USMV (32.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in INRO | Weight in USMV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 8.28% | 0.96% | 7.32% |
| NVDANvidia Corp | 7.60% | 1.53% | 6.07% |
| MSFTMicrosoft Corp | 5.68% | 1.56% | 4.12% |
| AMZNAmazon.Com Inc | 3.79% | 0.13% | 3.66% |
| AVGOBroadcom Inc | 2.02% | 0.94% | 1.08% |
| XOMExxon Mobil Corp. | 1.13% | 1.48% | 0.35% |
| GOOGAlphabet Inc. C | 2.22% | 0.38% | 1.84% |
| MUMicron Technology, Inc. | 1.71% | 0.76% | 0.95% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.01% | 1.46% | 0.45% |
| MAMastercard Inc | 1.12% | 1.24% | 0.12% |
66.5% of INRO is already inside USMV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, INRO or USMV?
INRO has an expense ratio of 0.42% while USMV charges 0.15%. USMV is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, INRO or USMV?
Over the past year INRO returned +19.83% vs +7.64% for USMV, so INRO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INRO or USMV?
INRO has been the more volatile fund at 12.9% annualized versus 9.6% for USMV. Worst drawdown: INRO -20.0% vs USMV -9.4%.
Should I hold both INRO and USMV?
INRO and USMV have a monthly-return correlation of 0.48, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between INRO and USMV?
66.5% of INRO's money is in holdings USMV also owns. 63.9% of USMV's is in holdings INRO also owns. They hold 102 positions in common, counted across the 293 positions we hold weights for in INRO and 175 in USMV.
Which pays a higher dividend, INRO or USMV?
INRO yields 0.59% while USMV yields 1.42%, so USMV currently pays the higher dividend yield.
Is USMV better than INRO?
USMV has a lower expense ratio. INRO led over 1Y and the full window. USMV is less concentrated, with 15.1% of the fund in its ten largest positions against 38.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.