Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs VOO: how they differ
USMV and VOO hold 33% of their weight in the same names, and VOO returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Vanguard 500 Index Fund.
What they hold in common
By the books each fund has filed, USMV and VOO hold 33% of their money in the same securities at the same weight.
| Holding | USMV | VOO |
|---|---|---|
| NVIDIA CORPORATION | 1.64% | 7.53% |
| MICROSOFT CORPORATION | 1.56% | 4.31% |
| BERKSHIRE HATHAWAY INC. | 1.42% | 1.43% |
| JOHNSON & JOHNSON | 1.44% | 0.95% |
| EXXON MOBIL CORPORATION | 1.60% | 0.88% |
| VISA INC. | 0.94% | 0.87% |
| APPLE INC. | 0.82% | 6.61% |
| WALMART INC. | 0.88% | 0.77% |
| CISCO SYSTEMS, INC. | 1.81% | 0.72% |
| ELI LILLY AND COMPANY | 0.66% | 1.48% |
| MASTERCARD INCORPORATED | 1.15% | 0.64% |
| ABBVIE INC. | 0.63% | 0.69% |
| Only in USMV | Only in VOO |
|---|---|
| WASTE CONNECTIONS, INC. 1.28% | Alphabet Inc 3.26% |
| LIBERTY MEDIA CORP - FORMULA ONE GROUP 0.57% | Tesla Inc 1.84% |
| SUN COMMUNITIES, INC. 0.54% | JPMorgan Chase & Co 1.26% |
| MercadoLibre, Inc. 0.34% | Intel Corp 1.03% |
| FIRST CITIZENS BANCSHARES, INC. 0.32% | Lam Research Corp 0.84% |
| ALNYLAM PHARMACEUTICALS, INC. 0.31% | Caterpillar Inc 0.76% |
| NEUROCRINE BIOSCIENCES, INC. 0.31% | KLA Corp 0.61% |
| ZOOM COMMUNICATIONS, INC. 0.26% | General Electric Co 0.61% |
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 | VOO Vanguard 500 Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Vanguard |
| What it is | MSCI USA Min Vol Factor | S&P 500 |
| Total return, 1 year | +6.6% | +17.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | +0.1 pts |
| Expense ratio | 0.15% | 0.03% |
| Already in the S&P 500 | 94.8% | 100.0% |
| Holdings | 170 | 506 |
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%.
VOO in plain words
VOO is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 36.5%.
Questions people ask
- Which returned more over the last year, USMV or VOO?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and VOO returned +17.6%, so VOO returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or VOO?
- USMV charges 0.15% a year and VOO charges 0.03%, so VOO is cheaper. Fees come from each fund's prospectus.
- How much do USMV and VOO overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 100% of VOO by weight is stocks the S&P 500 already holds. Between the two funds, 33% 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 VOO, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-VOO Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources