Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs VOE: how they differ
USMV and VOE hold 14% of their weight in the same names, and VOE returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Vanguard Mid-Cap Value Index Fund.
What they hold in common
By the books each fund has filed, USMV and VOE hold 14% of their money in the same securities at the same weight.
| Holding | USMV | VOE |
|---|---|---|
| CENCORA, INC. | 1.28% | 0.91% |
| NEWMONT CORPORATION | 1.18% | 0.86% |
| CONSOLIDATED EDISON, INC. | 1.35% | 0.71% |
| WEC ENERGY GROUP INC. | 0.92% | 0.66% |
| The Travelers Companies, Inc. | 1.09% | 0.61% |
| ROPER TECHNOLOGIES, INC. | 0.94% | 0.59% |
| TE CONNECTIVITY PUBLIC LIMITED COMPANY | 0.59% | 1.02% |
| KEURIG DR PEPPER INC. | 0.55% | 0.73% |
| AMERICAN ELECTRIC POWER COMPANY, INC. | 0.55% | 0.65% |
| Xcel Energy Inc. | 0.55% | 0.87% |
| THE KROGER CO. | 0.70% | 0.53% |
| THE ALLSTATE CORPORATION | 0.51% | 1.06% |
| Only in USMV | Only in VOE |
|---|---|
| CISCO SYSTEMS, INC. 1.81% | Cummins Inc 1.71% |
| NVIDIA CORPORATION 1.64% | Valero Energy Corp 1.34% |
| EXXON MOBIL CORPORATION 1.60% | Marathon Petroleum Corp 1.29% |
| MICROSOFT CORPORATION 1.56% | CRH PLC 1.24% |
| DUKE ENERGY CORPORATION 1.55% | United Rentals Inc 1.23% |
| THE SOUTHERN COMPANY 1.53% | General Motors Co 1.21% |
| AMPHENOL CORPORATION 1.51% | SLB Ltd 1.21% |
| Chubb Limited 1.50% | Simon Property Group Inc 1.20% |
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 iShares MSCI USA Min Vol Factor ETF | VOE Vanguard Mid-Cap Value Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Vanguard |
| What it is | MSCI USA Min Vol Factor | Mid-Cap Value |
| Total return, 1 year | +6.6% | +20.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | +2.7 pts |
| Expense ratio | 0.15% | 0.05% |
| Already in the S&P 500 | 94.8% | 96.6% |
| Holdings | 170 | 170 |
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%.
VOE in plain words
VOE is an index equity fund tracking the Mid-Cap Value. Over the year to Sep 11, 2026 it returned +20.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.05% a year. By its holdings filed for Jun 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 12.7%.
Questions people ask
- Which returned more over the last year, USMV or VOE?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and VOE returned +20.2%, so VOE returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or VOE?
- USMV charges 0.15% a year and VOE charges 0.05%, so VOE is cheaper. Fees come from each fund's prospectus.
- How much do USMV and VOE overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 97% of VOE by weight is stocks the S&P 500 already holds. Between the two funds, 14% 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 VOE, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-VOE Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources