In part 1 of this article looked at how the low-volatility ETFs have performed in the market downdraft. In this part, we will examine the differences among them.
Results May Vary
There are important, albeit nuanced, differences in the way low-volatility strategies are constructed. The disparity in USMV and SPLV's recent performances is a testament to that. Exhibit 2 provides further evidence. It shows the absolute value of the spread in the monthly performance of the best- and worst-performing funds among the eight U.S. large-cap low-volatility ETFs over the three years through March.

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