Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
QUAL vs USMV: how they differ
QUAL and USMV hold 26% of their weight in the same names, and QUAL returned more over the year.
iShares MSCI USA Quality Factor ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, QUAL and USMV hold 26% of their money in the same securities at the same weight.
| Holding | QUAL | USMV |
|---|---|---|
| NVIDIA CORPORATION | 6.52% | 1.64% |
| MICROSOFT CORPORATION | 5.05% | 1.56% |
| JOHNSON & JOHNSON | 1.92% | 1.44% |
| BERKSHIRE HATHAWAY INC. | 2.12% | 1.42% |
| MASTERCARD INCORPORATED | 2.30% | 1.15% |
| THE TJX COMPANIES, INC. | 3.19% | 1.15% |
| MERCK & CO., INC. | 1.08% | 1.18% |
| VISA INC. | 3.09% | 0.94% |
| THE PROCTER & GAMBLE COMPANY | 0.93% | 1.11% |
| WALMART INC. | 1.23% | 0.88% |
| APPLE INC. | 6.28% | 0.82% |
| LOCKHEED MARTIN CORPORATION | 0.88% | 0.79% |
| Only in QUAL | Only in USMV |
|---|---|
| LAM RESEARCH CORPORATION 3.23% | CISCO SYSTEMS, INC. 1.81% |
| KLA CORPORATION 2.79% | EXXON MOBIL CORPORATION 1.60% |
| ALPHABET INC. 2.54% | DUKE ENERGY CORPORATION 1.55% |
| CATERPILLAR INC. 2.52% | THE SOUTHERN COMPANY 1.53% |
| SLB N.V. 1.56% | AMPHENOL CORPORATION 1.51% |
| CHIPOTLE MEXICAN GRILL, INC. 1.02% | Chubb Limited 1.50% |
| NIKE, INC. 0.93% | VERIZON COMMUNICATIONS INC. 1.49% |
| Garmin Ltd. 0.88% | WASTE MANAGEMENT, INC. 1.48% |
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.
| QUAL iShares MSCI USA Quality Factor 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 USA Quality Factor | MSCI USA Min Vol Factor |
| Total return, 1 year | +16.0% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −1.5 pts | −10.9 pts |
| Expense ratio | 0.15% | 0.15% |
| Already in the S&P 500 | 98.9% | 94.8% |
| Holdings | 121 | 170 |
QUAL in plain words
QUAL is an index equity fund tracking the MSCI USA Quality Factor. Over the year to Sep 11, 2026 it returned +16.0% 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 Apr 30, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 121 positions, with the top ten at 39.1%. It sat 3.1% below its high of Aug 13, 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, QUAL or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, QUAL returned +16.0% and USMV returned +6.6%, so QUAL returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, QUAL or USMV?
- QUAL charges 0.15% a year and USMV charges 0.15%, so QUAL is cheaper. Fees come from each fund's prospectus.
- How much do QUAL and USMV overlap with the S&P 500?
- By their latest filed holdings, 99% of QUAL and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 26% 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, QUAL against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/QUAL-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources