Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
ACWI vs USMV: how they differ
ACWI and USMV hold 25% of their weight in the same names, and ACWI returned more over the year.
iShares MSCI ACWI ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, ACWI and USMV hold 25% of their money in the same securities at the same weight.
| Holding | ACWI | USMV |
|---|---|---|
| NVIDIA CORPORATION | 4.89% | 1.64% |
| MICROSOFT CORPORATION | 2.90% | 1.56% |
| APPLE INC. | 4.02% | 0.82% |
| ELI LILLY AND COMPANY | 0.76% | 0.66% |
| BERKSHIRE HATHAWAY INC. | 0.66% | 1.42% |
| EXXON MOBIL CORPORATION | 0.66% | 1.60% |
| WALMART INC. | 0.58% | 0.88% |
| JOHNSON & JOHNSON | 0.56% | 1.44% |
| VISA INC. | 0.56% | 0.94% |
| ADVANCED MICRO DEVICES, INC. | 0.58% | 0.53% |
| BROADCOM INC. | 1.90% | 0.50% |
| ALPHABET INC. | 1.87% | 0.45% |
| Only in ACWI | Only in USMV |
|---|---|
| ALPHABET INC. 2.26% | |
| Taiwan Semiconductor Manufacturing Compa 1.73% | |
| TESLA, INC. 1.09% | |
| JPMORGAN CHASE & CO. 0.86% | |
| ASML Holding N.V. 0.56% | |
| SK hynix Inc. 0.49% | |
| INTEL CORPORATION 0.43% | |
| CATERPILLAR INC. 0.42% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.
| ACWI iShares MSCI ACWI ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI ACWI | MSCI USA Min Vol Factor |
| Total return, 1 year | +19.1% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +1.6 pts | −10.9 pts |
| Expense ratio | 0.32% | 0.15% |
| Already in the S&P 500 | 61.4% | 94.8% |
| Holdings | 2307 | 170 |
ACWI in plain words
ACWI is an index equity fund tracking the MSCI ACWI. Over the year to Sep 11, 2026 it returned +19.1% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.32% a year. By its holdings filed for Apr 30, 2026, 61% of the fund by weight is stocks the S&P 500 also holds, across 2307 positions, with the top ten at 24.6%.
USMV in plain words
USMV is an index equity fund tracking the MSCI USA Min Vol Factor. Over the year to Sep 11, 2026 it returned +6.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Apr 30, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 15.7%.
Questions people ask
- Which returned more over the last year, ACWI or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, ACWI returned +19.1% and USMV returned +6.6%, so ACWI returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, ACWI or USMV?
- ACWI charges 0.32% a year and USMV charges 0.15%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do ACWI and USMV overlap with the S&P 500?
- By their latest filed holdings, 61% of ACWI and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 25% of their books are the same securities at the same weight.
Other comparisons
Where to next
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ACWI against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/ACWI-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources