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

In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and XLF returned +7.6%, so XLF returned more. One year is one year; the longer windows are in the table.

Which is cheaper, USMV or XLF?

USMV charges 0.15% a year and XLF charges 0.08%, so XLF is cheaper. Fees come from each fund's prospectus.

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

By their latest filed holdings, 95% of USMV and 100% of XLF by weight is stocks the S&P 500 already holds. Between the two funds, 9% 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.

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USMV vs XLF: how they differ

USMV and XLF hold 9% of their weight in the same names, and XLF returned more over the year.

iShares MSCI USA Min Vol Factor ETF and State Street(R) Financial Select Sector SPDR(R) ETF.

What they hold in common

By the books each fund has filed, USMV and XLF hold 9% of their money in the same securities at the same weight.

Positions USMV and XLF both hold, largest shared weight first
Holding	USMV	XLF
BERKSHIRE HATHAWAY INC.	1.42%	12.10%
MASTERCARD INCORPORATED	1.15%	5.47%
THE PROGRESSIVE CORPORATION	1.07%	1.68%
CME GROUP INC.	0.94%	1.06%
VISA INC.	0.94%	7.51%
The Travelers Companies, Inc.	1.09%	0.93%
MARSH & MCLENNAN COMPANIES, INC.	0.83%	1.06%
THE ALLSTATE CORPORATION	0.51%	0.81%
CBOE GLOBAL MARKETS, INC.	1.06%	0.34%
ARTHUR J. GALLAGHER & CO.	0.29%	0.78%
INTERCONTINENTAL EXCHANGE, INC.	0.28%	0.92%
W. R. BERKLEY CORPORATION	0.34%	0.27%

Largest positions each one holds and the other does not
Only in USMV	Only in XLF
CISCO SYSTEMS, INC. 1.81%	JPMorgan Chase & Co 11.57%
NVIDIA CORPORATION 1.64%	Bank of America Corp 4.91%
EXXON MOBIL CORPORATION 1.60%	Goldman Sachs Group Inc/The 3.94%
MICROSOFT CORPORATION 1.56%	Wells Fargo & Co 3.34%
DUKE ENERGY CORPORATION 1.55%	Morgan Stanley 3.31%
THE SOUTHERN COMPANY 1.53%	Citigroup Inc 3.15%
AMPHENOL CORPORATION 1.51%	American Express Co 2.38%
Chubb Limited 1.50%	Charles Schwab Corp/The 1.99%

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 XLF on the fields both publish, as of Sep 12, 2026. Source: ETFIQ.
	USMV iShares MSCI USA Min Vol Factor ETF	XLF State Street(R) Financial Select Sector SPDR(R) ETF
Where it sits	Core index fund	Core index fund
Issuer	iShares	State Street
What it is	MSCI USA Min Vol Factor	Financials
Total return, 1 year	+6.6%	+7.6%
S&P 500 over the same days	+17.5%	+17.5%
Gap to the S&P 500	−10.9 pts	−9.9 pts
Expense ratio	0.15%	0.08%
Already in the S&P 500	94.8%	100.0%
Holdings	170	76

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%.

XLF in plain words

XLF is an index equity fund tracking the Financials. Over the year to Sep 11, 2026 it returned +7.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% 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 76 positions, with the top ten at 57.7%.

Questions people ask

Which returned more over the last year, USMV or XLF?: In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and XLF returned +7.6%, so XLF returned more. One year is one year; the longer windows are in the table.
Which is cheaper, USMV or XLF?: USMV charges 0.15% a year and XLF charges 0.08%, so XLF is cheaper. Fees come from each fund's prospectus.
How much do USMV and XLF overlap with the S&P 500?: By their latest filed holdings, 95% of USMV and 100% of XLF by weight is stocks the S&P 500 already holds. Between the two funds, 9% 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 XLF, 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 XLF, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-XLF Free to use with attribution; the underlying files are at Open data.

A comparison is not a recommendation. Standards and sources