Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs XBI: how they differ
USMV and XBI hold 4% of their weight in the same names, and XBI returned more over the year.
iShares MSCI USA Min Vol Factor ETF and State Street(R) SPDR(R) S&P(R) Biotech ETF.
What they hold in common
By the books each fund has filed, USMV and XBI hold 4% of their money in the same securities at the same weight.
| Holding | USMV | XBI |
|---|---|---|
| VERTEX PHARMACEUTICALS INCORPORATED | 1.36% | 1.06% |
| GILEAD SCIENCES, INC. | 0.82% | 0.97% |
| ABBVIE INC. | 0.63% | 1.04% |
| INCYTE CORPORATION | 0.54% | 1.00% |
| AMGEN INC. | 0.31% | 1.00% |
| ALNYLAM PHARMACEUTICALS, INC. | 0.31% | 0.96% |
| NEUROCRINE BIOSCIENCES, INC. | 0.31% | 0.97% |
| UNITED THERAPEUTICS CORPORATION | 0.21% | 0.93% |
| REGENERON PHARMACEUTICALS, INC. | 0.07% | 0.96% |
| Only in USMV | Only in XBI |
|---|---|
| CISCO SYSTEMS, INC. 1.81% | Apogee Therapeutics Inc 1.49% |
| NVIDIA CORPORATION 1.64% | Moderna Inc 1.41% |
| EXXON MOBIL CORPORATION 1.60% | Twist Bioscience Corp 1.41% |
| MICROSOFT CORPORATION 1.56% | Oruka Therapeutics Inc 1.38% |
| DUKE ENERGY CORPORATION 1.55% | Kymera Therapeutics Inc 1.36% |
| THE SOUTHERN COMPANY 1.53% | Viking Therapeutics Inc 1.31% |
| AMPHENOL CORPORATION 1.51% | Praxis Precision Medicines Inc 1.29% |
| Chubb Limited 1.50% | Erasca Inc 1.27% |
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 | XBI State Street(R) SPDR(R) S&P(R) Biotech ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | MSCI USA Min Vol Factor | SPDR S&P Biotech |
| Total return, 1 year | +6.6% | +64.0% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | +46.5 pts |
| Expense ratio | 0.15% | 0.35% |
| Already in the S&P 500 | 94.8% | 8.5% |
| Holdings | 170 | 150 |
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%.
XBI in plain words
XBI is an index equity fund tracking the SPDR S&P Biotech. Over the year to Sep 11, 2026 it returned +64.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.35% a year. By its holdings filed for Jun 30, 2026, 8% of the fund by weight is stocks the S&P 500 also holds, across 150 positions, with the top ten at 13.3%. It sat 9.6% below its high of Feb 8, 2021 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, USMV or XBI?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and XBI returned +64.0%, so XBI returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or XBI?
- USMV charges 0.15% a year and XBI charges 0.35%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do USMV and XBI overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 8% of XBI by weight is stocks the S&P 500 already holds. Between the two funds, 4% 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 XBI, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-XBI Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources