Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs VNQ: how they differ
USMV and VNQ hold 2% of their weight in the same names, and USMV returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Vanguard Real Estate Index Fund.
What they hold in common
By the books each fund has filed, USMV and VNQ hold 2% of their money in the same securities at the same weight.
| Holding | USMV | VNQ |
|---|---|---|
| WELLTOWER INC. | 0.80% | 7.86% |
| REALTY INCOME CORPORATION | 0.72% | 3.12% |
| SUN COMMUNITIES, INC. | 0.54% | 0.84% |
| VENTAS, INC. | 0.17% | 2.20% |
| Only in USMV | Only in VNQ |
|---|---|
| CISCO SYSTEMS, INC. 1.81% | Vanguard Real Estate II Index Fund 14.67% |
| NVIDIA CORPORATION 1.64% | Prologis Inc 7.02% |
| EXXON MOBIL CORPORATION 1.60% | Equinix Inc 5.66% |
| MICROSOFT CORPORATION 1.56% | American Tower Corp 4.55% |
| DUKE ENERGY CORPORATION 1.55% | Digital Realty Trust Inc 3.67% |
| THE SOUTHERN COMPANY 1.53% | Simon Property Group Inc 3.54% |
| AMPHENOL CORPORATION 1.51% | Public Storage 2.54% |
| Chubb Limited 1.50% | CBRE Group Inc 2.26% |
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.
| USMV iShares MSCI USA Min Vol Factor ETF | VNQ Vanguard Real Estate Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Vanguard |
| What it is | MSCI USA Min Vol Factor | US real estate |
| Total return, 1 year | +6.6% | +5.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | −11.9 pts |
| Expense ratio | 0.15% | 0.13% |
| Already in the S&P 500 | 94.8% | 63.3% |
| Holdings | 170 | 146 |
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%.
VNQ in plain words
VNQ is an index equity fund tracking the US real estate. Over the year to Sep 11, 2026 it returned +5.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.13% a year. By its holdings filed for Apr 30, 2026, 63% of the fund by weight is stocks the S&P 500 also holds, across 146 positions, with the top ten at 54.9%. It sat 6.1% below its high of Jul 28, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, USMV or VNQ?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and VNQ returned +5.6%, so USMV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or VNQ?
- USMV charges 0.15% a year and VNQ charges 0.13%, so VNQ is cheaper. Fees come from each fund's prospectus.
- How much do USMV and VNQ overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 63% of VNQ by weight is stocks the S&P 500 already holds. Between the two funds, 2% 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, USMV against VNQ, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-VNQ Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources