Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
IYW vs USMV: how they differ
IYW and USMV hold 18% of their weight in the same names, and IYW returned more over the year.
iShares U.S. Technology ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, IYW and USMV hold 18% of their money in the same securities at the same weight.
| Holding | IYW | USMV |
|---|---|---|
| NVIDIA CORPORATION | 16.25% | 1.64% |
| MICROSOFT CORPORATION | 3.99% | 1.56% |
| INTERNATIONAL BUSINESS MACHINES CORPORAT | 1.32% | 1.11% |
| AMPHENOL CORPORATION | 1.10% | 1.51% |
| SALESFORCE, INC. | 0.99% | 0.88% |
| APPLE INC. | 13.65% | 0.82% |
| TEXAS INSTRUMENTS INCORPORATED | 1.57% | 0.78% |
| CORNING INCORPORATED | 0.79% | 0.68% |
| INTUIT INC. | 0.65% | 0.70% |
| ADOBE INC. | 0.62% | 0.57% |
| SERVICENOW, INC. | 0.57% | 0.70% |
| ADVANCED MICRO DEVICES, INC. | 3.50% | 0.53% |
| Only in IYW | Only in USMV |
|---|---|
| ALPHABET INC. 7.84% | CISCO SYSTEMS, INC. 1.81% |
| INTEL CORPORATION 2.56% | EXXON MOBIL CORPORATION 1.60% |
| LAM RESEARCH CORPORATION 1.99% | DUKE ENERGY CORPORATION 1.55% |
| KLA CORPORATION 1.41% | THE SOUTHERN COMPANY 1.53% |
| SANDISK CORPORATION 0.96% | Chubb Limited 1.50% |
| WESTERN DIGITAL CORPORATION 0.91% | VERIZON COMMUNICATIONS INC. 1.49% |
| VERTIV HOLDINGS CO 0.77% | WASTE MANAGEMENT, INC. 1.48% |
| MONOLITHIC POWER SYSTEMS, INC. 0.46% | MOTOROLA SOLUTIONS, INC. 1.46% |
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.
| IYW iShares U.S. Technology ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | U.S. Technology | MSCI USA Min Vol Factor |
| Total return, 1 year | +34.9% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +17.4 pts | −10.9 pts |
| Expense ratio | 0.37% | 0.15% |
| Already in the S&P 500 | 95.5% | 94.8% |
| Holdings | 139 | 170 |
IYW in plain words
IYW is an index equity fund tracking the U.S. Technology. Over the year to Sep 11, 2026 it returned +34.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.37% a year. By its holdings filed for Apr 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 139 positions, with the top ten at 63.7%.
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, IYW or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, IYW returned +34.9% and USMV returned +6.6%, so IYW returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, IYW or USMV?
- IYW charges 0.37% a year and USMV charges 0.15%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do IYW and USMV overlap with the S&P 500?
- By their latest filed holdings, 96% of IYW and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 18% 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, IYW against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/IYW-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources