Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
IVV vs USMV: how they differ
IVV and USMV hold 32% of their weight in the same names, and IVV returned more over the year.
iShares Core S&P 500 ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, IVV and USMV hold 32% of their money in the same securities at the same weight.
| Holding | IVV | USMV |
|---|---|---|
| NVIDIA Corp. | 7.52% | 1.64% |
| Microsoft Corp. | 4.30% | 1.56% |
| Berkshire Hathaway, Inc. | 1.42% | 1.42% |
| Johnson & Johnson | 0.95% | 1.44% |
| Visa, Inc. | 0.88% | 0.94% |
| Exxon Mobil Corp. | 0.88% | 1.60% |
| Apple, Inc. | 6.59% | 0.82% |
| Walmart, Inc. | 0.77% | 0.88% |
| Cisco Systems, Inc. | 0.72% | 1.81% |
| Eli Lilly & Co. | 1.47% | 0.66% |
| Mastercard, Inc. | 0.64% | 1.15% |
| AbbVie, Inc. | 0.69% | 0.63% |
| Only in IVV | Only in USMV |
|---|---|
| Alphabet, Inc. 3.25% | Chubb Limited 1.50% |
| Tesla, Inc. 1.84% | WASTE CONNECTIONS, INC. 1.28% |
| JPMorgan Chase & Co. 1.36% | ACCENTURE PUBLIC LIMITED COMPANY 0.75% |
| Intel Corp. 1.02% | LINDE PUBLIC LIMITED COMPANY 0.69% |
| Lam Research Corp. 0.84% | TE CONNECTIVITY PUBLIC LIMITED COMPANY 0.59% |
| Caterpillar, Inc. 0.76% | LIBERTY MEDIA CORP - FORMULA ONE GROUP 0.57% |
| KLA Corp. 0.61% | SUN COMMUNITIES, INC. 0.54% |
| GE Aerospace 0.60% | ARCH CAPITAL GROUP LTD. 0.50% |
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 Jun 30, 2026.
| IVV iShares Core S&P 500 ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | S&P 500 | MSCI USA Min Vol Factor |
| Total return, 1 year | +17.6% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +0.1 pts | −10.9 pts |
| Expense ratio | 0.03% | 0.15% |
| Already in the S&P 500 | 100.0% | 94.8% |
| Holdings | 504 | 170 |
IVV in plain words
IVV is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.
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, IVV or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, IVV returned +17.6% and USMV returned +6.6%, so IVV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, IVV or USMV?
- IVV charges 0.03% a year and USMV charges 0.15%, so IVV is cheaper. Fees come from each fund's prospectus.
- How much do IVV and USMV overlap with the S&P 500?
- By their latest filed holdings, 100% of IVV and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 32% 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, IVV against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/IVV-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources