Which returned more over the last year, USMV or VO?

In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and VO returned +12.0%, so VO returned more. One year is one year; the longer windows are in the table.

Which is cheaper, USMV or VO?

USMV charges 0.15% a year and VO charges 0.03%, so VO is cheaper. Fees come from each fund's prospectus.

How much do USMV and VO overlap with the S&P 500?

By their latest filed holdings, 95% of USMV and 91% of VO by weight is stocks the S&P 500 already holds. Between the two funds, 17% of their books are the same securities at the same weight.

Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.

ETFIQetfiq.com · independent ETF data

USMV vs VO: how they differ

USMV and VO hold 17% of their weight in the same names, and VO returned more over the year.

iShares MSCI USA Min Vol Factor ETF and Vanguard Mid-Cap Index Fund.

What they hold in common

By the books each fund has filed, USMV and VO hold 17% of their money in the same securities at the same weight.

Positions USMV and VO both hold, largest shared weight first
Holding	USMV	VO
MOTOROLA SOLUTIONS, INC.	1.46%	0.67%
TE CONNECTIVITY PUBLIC LIMITED COMPANY	0.59%	0.57%
REALTY INCOME CORPORATION	0.72%	0.56%
AUTOZONE, INC.	0.95%	0.51%
CENCORA, INC.	1.28%	0.51%
THE ALLSTATE CORPORATION	0.51%	0.59%
ELECTRONIC ARTS INC.	0.85%	0.50%
Xcel Energy Inc.	0.55%	0.49%
NEWMONT CORPORATION	1.18%	0.48%
THE WILLIAMS COMPANIES, INC.	0.49%	0.44%
FORTINET, INC.	0.43%	0.46%
YUM! Brands, Inc.	0.98%	0.43%

Largest positions each one holds and the other does not
Only in USMV	Only in VO
CISCO SYSTEMS, INC. 1.81%	Vertiv Holdings Co 1.23%
NVIDIA CORPORATION 1.64%	Western Digital Corp 1.07%
EXXON MOBIL CORPORATION 1.60%	Seagate Technology Holdings PLC 1.05%
MICROSOFT CORPORATION 1.56%	Quanta Services Inc 1.05%
DUKE ENERGY CORPORATION 1.55%	Howmet Aerospace Inc 1.04%
THE SOUTHERN COMPANY 1.53%	Cummins Inc 0.95%
AMPHENOL CORPORATION 1.51%	Bloom Energy Corp 0.79%
Chubb Limited 1.50%	Constellation Energy Corp 0.78%

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 Jun 30, 2026.

USMV and VO on the fields both publish, as of Sep 12, 2026. Source: ETFIQ.
	USMV iShares MSCI USA Min Vol Factor ETF	VO Vanguard Mid-Cap Index Fund
Where it sits	Core index fund	Core index fund
Issuer	iShares	Vanguard
What it is	MSCI USA Min Vol Factor	Mid-Cap
Total return, 1 year	+6.6%	+12.0%
S&P 500 over the same days	+17.5%	+17.5%
Gap to the S&P 500	−10.9 pts	−5.5 pts
Expense ratio	0.15%	0.03%
Already in the S&P 500	94.8%	91.4%
Holdings	170	282

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%.

VO in plain words

VO is an index equity fund tracking the Mid-Cap. Over the year to Sep 11, 2026 it returned +12.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 282 positions, with the top ten at 9.6%. It sat 4.1% below its high of Aug 14, 2026 on Sep 11, 2026.

Questions people ask

Which returned more over the last year, USMV or VO?: In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and VO returned +12.0%, so VO returned more. One year is one year; the longer windows are in the table.
Which is cheaper, USMV or VO?: USMV charges 0.15% a year and VO charges 0.03%, so VO is cheaper. Fees come from each fund's prospectus.
How much do USMV and VO overlap with the S&P 500?: By their latest filed holdings, 95% of USMV and 91% of VO by weight is stocks the S&P 500 already holds. Between the two funds, 17% 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.

USMV against VO, ETFIQ, data as of Sep 12, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, USMV against VO, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-VO Free to use with attribution; the underlying files are at Open data.

A comparison is not a recommendation. Standards and sources