Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
INDA vs USMV: how they differ
INDA and USMV hold 0% of their weight in the same names, and USMV returned more over the year.
iShares MSCI India ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, INDA and USMV hold 0% of their money in the same securities at the same weight.
| Only in INDA | Only in USMV |
|---|---|
| RELIANCE INDUSTRIES LIMITED 6.23% | CISCO SYSTEMS, INC. 1.81% |
| HDFC BANK LIMITED 6.15% | NVIDIA CORPORATION 1.64% |
| ICICI BANK LIMITED 4.68% | EXXON MOBIL CORPORATION 1.60% |
| BHARTI AIRTEL LIMITED 3.63% | MICROSOFT CORPORATION 1.56% |
| INFOSYS LIMITED 2.92% | DUKE ENERGY CORPORATION 1.55% |
| AXIS BANK LIMITED 2.23% | THE SOUTHERN COMPANY 1.53% |
| MAHINDRA AND MAHINDRA LIMITED 2.20% | AMPHENOL CORPORATION 1.51% |
| LARSEN AND TOUBRO LIMITED 2.13% | Chubb Limited 1.50% |
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 and May 31, 2026.
| INDA iShares MSCI India 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 India | MSCI USA Min Vol Factor |
| Total return, 1 year | −8.8% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −26.3 pts | −10.9 pts |
| Expense ratio | 0.61% | 0.15% |
| Already in the S&P 500 | 0.0% | 94.8% |
| Holdings | 169 | 170 |
INDA in plain words
INDA is an index equity fund tracking the MSCI India. Over the year to Sep 11, 2026 it returned −8.8% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.61% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 33.7%. It sat 17.4% below its high of Sep 26, 2024 on Sep 11, 2026.
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, INDA or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, INDA returned −8.8% and USMV returned +6.6%, so USMV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, INDA or USMV?
- INDA charges 0.61% a year and USMV charges 0.15%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do INDA and USMV overlap with the S&P 500?
- By their latest filed holdings, 0% of INDA and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
Other comparisons
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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, INDA against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/INDA-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources