Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
QQQM vs USMV: how they differ
QQQM and USMV hold 22% of their weight in the same names, and QQQM returned more over the year.
Invesco NASDAQ 100 ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, QQQM and USMV hold 22% of their money in the same securities at the same weight.
| Holding | QQQM | USMV |
|---|---|---|
| Cisco Systems, Inc. | 2.09% | 1.81% |
| NVIDIA Corp. | 8.16% | 1.64% |
| Microsoft Corp. | 5.32% | 1.56% |
| T-Mobile US, Inc. | 0.91% | 1.17% |
| Walmart Inc. | 2.48% | 0.88% |
| PepsiCo, Inc. | 0.87% | 1.02% |
| Apple Inc. | 7.29% | 0.82% |
| Texas Instruments Inc. | 1.22% | 0.78% |
| Gilead Sciences, Inc. | 0.73% | 0.82% |
| Linde PLC | 1.01% | 0.69% |
| Advanced Micro Devices, Inc. | 3.70% | 0.53% |
| Palo Alto Networks, Inc. | 1.01% | 0.53% |
| Only in QQQM | Only in USMV |
|---|---|
| Alphabet Inc. 3.52% | EXXON MOBIL CORPORATION 1.60% |
| Tesla, Inc. 3.46% | DUKE ENERGY CORPORATION 1.55% |
| Intel Corp. 2.52% | THE SOUTHERN COMPANY 1.53% |
| Lam Research Corp. 1.75% | AMPHENOL CORPORATION 1.51% |
| KLA Corp. 1.11% | Chubb Limited 1.50% |
| Sandisk Corp. 1.10% | VERIZON COMMUNICATIONS INC. 1.49% |
| Seagate Technology Holdings PLC 0.84% | WASTE MANAGEMENT, INC. 1.48% |
| Western Digital Corp. 0.79% | 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 and May 31, 2026.
| QQQM Invesco NASDAQ 100 ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Invesco | iShares |
| What it is | Nasdaq-100 | MSCI USA Min Vol Factor |
| Total return, 1 year | +23.0% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.5 pts | −10.9 pts |
| Expense ratio | 0.15% | 0.15% |
| Already in the S&P 500 | 96.7% | 94.8% |
| Holdings | 101 | 170 |
QQQM in plain words
QQQM is an index equity fund tracking the Nasdaq-100. Over the year to Sep 11, 2026 it returned +23.0% 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 May 31, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 47.5%. It sat 4.1% below its high of Jun 2, 2026 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. 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, QQQM or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, QQQM returned +23.0% and USMV returned +6.6%, so QQQM returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, QQQM or USMV?
- QQQM charges 0.15% a year and USMV charges 0.15%, so QQQM is cheaper. Fees come from each fund's prospectus.
- How much do QQQM and USMV overlap with the S&P 500?
- By their latest filed holdings, 97% of QQQM and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 22% 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, QQQM against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/QQQM-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources