Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs XLV: how they differ
USMV and XLV hold 11% of their weight in the same names, and XLV returned more over the year.
iShares MSCI USA Min Vol Factor ETF and State Street(R) Health Care Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, USMV and XLV hold 11% of their money in the same securities at the same weight.
| Holding | USMV | XLV |
|---|---|---|
| JOHNSON & JOHNSON | 1.44% | 10.67% |
| VERTEX PHARMACEUTICALS INCORPORATED | 1.36% | 2.20% |
| MCKESSON CORPORATION | 1.31% | 1.59% |
| MERCK & CO., INC. | 1.18% | 5.54% |
| CENCORA, INC. | 1.28% | 0.96% |
| GILEAD SCIENCES, INC. | 0.82% | 2.74% |
| ABBOTT LABORATORIES | 0.67% | 2.76% |
| ELI LILLY AND COMPANY | 0.66% | 16.56% |
| ABBVIE INC. | 0.63% | 7.76% |
| UNITEDHEALTH GROUP INCORPORATED | 0.39% | 6.59% |
| INCYTE CORPORATION | 0.54% | 0.33% |
| AMGEN INC. | 0.31% | 3.41% |
| Only in USMV | Only in XLV |
|---|---|
| CISCO SYSTEMS, INC. 1.81% | Thermo Fisher Scientific Inc 3.25% |
| NVIDIA CORPORATION 1.64% | Intuitive Surgical Inc 2.46% |
| EXXON MOBIL CORPORATION 1.60% | Pfizer Inc 2.40% |
| MICROSOFT CORPORATION 1.56% | CVS Health Corp 2.30% |
| DUKE ENERGY CORPORATION 1.55% | Danaher Corp 2.10% |
| THE SOUTHERN COMPANY 1.53% | Bristol-Myers Squibb Co 2.05% |
| AMPHENOL CORPORATION 1.51% | Stryker Corp 1.90% |
| Chubb Limited 1.50% | Medtronic PLC 1.75% |
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 | XLV State Street(R) Health Care 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 | Health care |
| Total return, 1 year | +6.6% | +20.4% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | +2.9 pts |
| Expense ratio | 0.15% | 0.08% |
| Already in the S&P 500 | 94.8% | 100.0% |
| Holdings | 170 | 59 |
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%.
XLV in plain words
XLV is an index equity fund tracking the Health care. Over the year to Sep 11, 2026 it returned +20.4% 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 59 positions, with the top ten at 61.7%. It sat 5.9% below its high of Aug 19, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, USMV or XLV?
- In the year to Sep 12, 2026, with distributions reinvested, USMV returned +6.6% and XLV returned +20.4%, so XLV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or XLV?
- USMV charges 0.15% a year and XLV charges 0.08%, so XLV is cheaper. Fees come from each fund's prospectus.
- How much do USMV and XLV overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 100% of XLV by weight is stocks the S&P 500 already holds. Between the two funds, 11% of their books are the same securities at the same weight.
Other comparisons
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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 XLV, data as of Sep 12, 2026. https://etfiq.com/compare/any/USMV-XLV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources