Data as of Nov 4, 2026.
APUE vs USMV: Differences, Returns & Fees
Over the year to Nov 4, 2026, APUE returned +15.9% to USMV's +14.2%; 34% of their weight is in the same names.
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Net assets: $2.5bn on Aug 31, 2026 for ActivePassive U.S. Equity ETF, and $24.5bn on Nov 4, 2026 for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.16 points a year less; their one-year returns differ by 1.7 points.
| Measure | APUE | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.9% | +14.2% |
| Benchmark | ||
| What it tracks | No index, actively managed | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.31% | 0.15% |
| Net assets, APUE as of Aug 31, 2026 and USMV as of Nov 4, 2026 | $2.5bn | $24.5bn |
| Holdings | ||
| Holdings in common | 34% | |
| Top ten holdings, share of the fund | 37.3% | 15.1% |
What they share
By the books each fund has filed, APUE and USMV hold 34% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
34% in common
Only in one fund ↓
Side by side
APUE and USMV on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
Client brief:
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APUE
APUE is actively managed and tracks no index. Over the year to Nov 4, 2026 it returned +15.9% with distributions reinvested, against +14.9% for its benchmark, the CRSP US Total Market Total Return Index. The prospectus expense ratio is 0.31% a year. By its holdings filed for Aug 31, 2026, 88% of the fund by weight is stocks the S&P 500 also holds, across 449 positions, with the top ten at 37.3%.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Nov 4, 2026 it returned +14.2% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Nov 3, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 15.1%.
Questions people ask
- Which returned more over the last year, APUE or USMV?
- In the year to Nov 4, 2026, with distributions reinvested, APUE returned +15.9% and USMV +14.2%.
- Which is cheaper, APUE or USMV?
- USMV is cheaper, by 0.16 percentage points a year. That is about $16 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, APUE against USMV, data as of Nov 4, 2026. https://etfiq.com/compare/any/apue-vs-usmv
ETFIQ. (Nov 4, 2026). APUE against USMV. Retrieved from https://etfiq.com/compare/any/apue-vs-usmv
[APUE against USMV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/apue-vs-usmv)
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