Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
SPHQ vs USMV: how they differ
SPHQ and USMV hold 21% of their weight in the same names, and SPHQ returned more over the year.
Invesco S&P 500 Quality ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, SPHQ and USMV hold 21% of their money in the same securities at the same weight.
| Holding | SPHQ | USMV |
|---|---|---|
| Cisco Systems, Inc. | 3.54% | 1.81% |
| Coca-Cola Co. (The) | 3.34% | 1.20% |
| Newmont Corp. | 1.22% | 1.18% |
| Merck & Co., Inc. | 2.87% | 1.18% |
| Mastercard Inc. | 4.32% | 1.15% |
| TJX Cos., Inc. (The) | 1.79% | 1.15% |
| Procter & Gamble Co. (The) | 3.46% | 1.11% |
| Progressive Corp. (The) | 1.41% | 1.07% |
| Visa Inc. | 4.69% | 0.94% |
| Gilead Sciences, Inc. | 2.28% | 0.82% |
| Apple Inc. | 4.51% | 0.82% |
| Accenture PLC | 1.04% | 0.75% |
| Only in SPHQ | Only in USMV |
|---|---|
| General Electric Co. 4.16% | NVIDIA CORPORATION 1.64% |
| Lam Research Corp. 4.10% | EXXON MOBIL CORPORATION 1.60% |
| Caterpillar Inc. 3.78% | MICROSOFT CORPORATION 1.56% |
| KLA Corp. 3.27% | DUKE ENERGY CORPORATION 1.55% |
| Western Digital Corp. 2.15% | THE SOUTHERN COMPANY 1.53% |
| Eaton Corp. PLC 1.65% | AMPHENOL CORPORATION 1.51% |
| Trane Technologies PLC 1.30% | Chubb Limited 1.50% |
| 3M Co. 1.17% | VERIZON COMMUNICATIONS INC. 1.49% |
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.
| SPHQ Invesco S&P 500 Quality ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Invesco | iShares |
| What it is | S&P 500 Quality | MSCI USA Min Vol Factor |
| Total return, 1 year | +17.4% | +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 | 0.15% | 0.15% |
| Already in the S&P 500 | 99.9% | 94.8% |
| Holdings | 99 | 170 |
SPHQ in plain words
SPHQ is an index equity fund tracking the S&P 500 Quality. Over the year to Sep 11, 2026 it returned +17.4% 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, 100% of the fund by weight is stocks the S&P 500 also holds, across 99 positions, with the top ten at 40.7%. It sat 6.1% below its high of Jun 30, 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, SPHQ or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, SPHQ returned +17.4% and USMV returned +6.6%, so SPHQ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, SPHQ or USMV?
- SPHQ charges 0.15% a year and USMV charges 0.15%, so SPHQ is cheaper. Fees come from each fund's prospectus.
- How much do SPHQ and USMV overlap with the S&P 500?
- By their latest filed holdings, 100% of SPHQ and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 21% of their books are the same securities at the same weight.
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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, SPHQ against USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/SPHQ-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources