Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs XLG: how they differ
USMV and XLG hold 27% of their weight in the same names, and XLG returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Invesco S&P 500 Top 50 ETF.
What they hold in common
By the books each fund has filed, USMV and XLG hold 27% of their money in the same securities at the same weight.
| Holding | USMV | XLG |
|---|---|---|
| NVIDIA CORPORATION | 1.64% | 13.10% |
| EXXON MOBIL CORPORATION | 1.60% | 1.74% |
| MICROSOFT CORPORATION | 1.56% | 8.18% |
| JOHNSON & JOHNSON | 1.44% | 1.50% |
| BERKSHIRE HATHAWAY INC. | 1.42% | 2.35% |
| MASTERCARD INCORPORATED | 1.15% | 1.11% |
| CISCO SYSTEMS, INC. | 1.81% | 0.98% |
| VISA INC. | 0.94% | 1.50% |
| THE PROCTER & GAMBLE COMPANY | 1.11% | 0.92% |
| WALMART INC. | 0.88% | 1.56% |
| THE COCA-COLA COMPANY | 1.20% | 0.82% |
| APPLE INC. | 0.82% | 10.76% |
| Only in USMV | Only in XLG |
|---|---|
| DUKE ENERGY CORPORATION 1.55% | Alphabet Inc. 6.05% |
| THE SOUTHERN COMPANY 1.53% | Tesla, Inc. 2.90% |
| AMPHENOL CORPORATION 1.51% | JPMorgan Chase & Co. 2.28% |
| Chubb Limited 1.50% | Caterpillar Inc. 1.12% |
| WASTE MANAGEMENT, INC. 1.48% | Bank of America Corp. 0.96% |
| MOTOROLA SOLUTIONS, INC. 1.46% | General Electric Co. 0.82% |
| VERTEX PHARMACEUTICALS INCORPORATED 1.36% | Goldman Sachs Group, Inc. (The) 0.75% |
| CONSOLIDATED EDISON, INC. 1.35% | Wells Fargo & Co. 0.69% |
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.
| USMV iShares MSCI USA Min Vol Factor ETF | XLG Invesco S&P 500 Top 50 ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Invesco |
| What it is | MSCI USA Min Vol Factor | S&P 500 top 50 |
| Total return, 1 year | +6.6% | +12.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | −5.3 pts |
| Expense ratio | 0.15% | 0.20% |
| Already in the S&P 500 | 94.8% | 100.0% |
| Holdings | 170 | 51 |
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%.
XLG in plain words
XLG is an index equity fund tracking the S&P 500 top 50. Over the year to Sep 11, 2026 it returned +12.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.20% a year. By its holdings filed for Apr 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 51 positions, with the top ten at 63.6%.
Questions people ask
- Which returned more over the last year, USMV or XLG?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and XLG returned +12.2%, so XLG returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or XLG?
- USMV charges 0.15% a year and XLG charges 0.20%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do USMV and XLG overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 100% of XLG by weight is stocks the S&P 500 already holds. Between the two funds, 27% 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 XLG, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-XLG Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources