USMV’s worst drop since 2011 was 33%
iShares MSCI USA Min Vol Factor ETF (USMV) fell 33% from Feb 2020 to Mar 2020. It took 0.9 years from that peak to close at a new high, in Jan 2021. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 161st of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2011 to now
How USMV held up in each crash
| Crash | Years | USMV | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −33.1% | −33.7% |
| 2022 rate shock | 2022 | −17.3% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was USMV’s maximum drawdown?
USMV’s deepest fall since 2011 was 33.1%, from its high on February 14, 2020 to its low on March 23, 2020. The figure uses daily prices with dividends reinvested.
How long did USMV take to recover?
0.9 years. USMV first closed above its Feb 2020 high again on January 8, 2021.
Was USMV riskier than the S&P 500?
Over the same years, USMV’s worst drop was 33.1% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −18.3% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, October 21, 2011 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.