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

In the year to Oct 28, 2026, with distributions reinvested, DFUS returned +13.8% and USMV +10.8%.

Which is cheaper, DFUS or USMV?

DFUS is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.

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

By their latest filed holdings, 89% of DFUS and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

DFUS vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, DFUS returned +13.8% to USMV's +10.8%; 31% of their weight is in the same names.

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Net assets: $20.9bn on Jul 31, 2026 for Dimensional U.S. Equity Market ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.

DFUS on its own →USMV on its own →

At a glance

+13.8%

DFUS total return, 1 year

+10.8%

USMV total return, 1 year

0.09%

DFUS expense ratio

0.15%

USMV expense ratio

Pair scorecard

DFUS costs 0.06 points a year less; their one-year returns differ by 3.0 points.

DFUS vs USMV: Differences, Returns & Fees
Measure	DFUS	USMV
Return
Measure	DFUS	USMV
Total return, 1 year	+13.8%	+10.8%
Benchmark
Measure	DFUS	USMV
What it tracks	No index, actively managed	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	DFUS	USMV
Expense ratio	0.09%	0.15%
Net assets, DFUS as of Jul 31, 2026 and USMV as of Oct 27, 2026	$20.9bn	$24.1bn
Holdings
Measure	DFUS	USMV
Holdings in common	31%
Top ten holdings, share of the fund	34.6%	14.8%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method

Risk and return

Jun 25, 2021 to Oct 23, 2026 · 278 weekly returns

DFUS USMV

Return

Total return edge DFUS +87.6% +52.4%

Annualized edge DFUS +12.5% +8.2%

Price return edge DFUS +76.2% +40.0%

Risk

Volatility edge USMV 16.2% 12.0%

Max drawdown edge USMV −24.2% −17.6%

Risk-adjusted

Sharpe edge DFUS 0.58 0.41

Sortino edge DFUS 0.87 0.60

Calmar edge DFUS (slight) 0.52 0.47

Reading

DFUS returned more: +87.6% to +52.4%. USMV swung less: 12.0% to 16.2%. USMV fell less at its worst: −17.6% to −24.2%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: DFUS vs USMV: Differences, Returns & Fees
Measure	DFUS	USMV	Edge	How it is measured
Return
Total return	+87.6%	+52.4%	DFUS	Price change plus distributions, reinvested.
Annualized	+12.5%	+8.2%	DFUS	Total return as a yearly rate.
Price return	+76.2%	+40.0%	DFUS	Price change alone, distributions left out.
Risk
Volatility	16.2%	12.0%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	10.8%	8.2%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.2%	−17.6%	USMV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.58	0.41	DFUS	Return above Treasury bills per unit of volatility.
Sortino	0.87	0.60	DFUS	Return above Treasury bills per unit of downside deviation.
Calmar	0.52	0.47	DFUS (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 278 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

31%

By the books each fund has filed, DFUS and USMV hold 31% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.

50%

0 half 100%

half

31% in common

Positions both hold · largest shared weight first DFUS USMV

MICROSOFT CORPORATION 4.99% 1.61%

NVIDIA CORPORATION 6.75% 1.47%

BERKSHIRE HATHAWAY INC. 1.38% 1.50%

APPLE INC. 6.45% 0.96%

EXXONMOBIL HOLDINGS CORPORATION 0.94% 1.54%

JOHNSON & JOHNSON 0.90% 1.44%

VISA INC. 0.88% 1.05%

BROADCOM INC. 2.63% 0.86%

ADVANCED MICRO DEVICES, INC. 1.12% 0.77%

WALMART INC. 0.71% 0.73%

MICRON TECHNOLOGY, INC. 1.35% 0.69%

MASTERCARD INCORPORATED 0.68% 1.28%

Only in one fund ↓

Only in DFUS

ALPHABET INC. 2.48%

JPMORGAN CHASE & CO. 1.37%

ELI LILLY AND COMPANY 1.33%

TESLA, INC. 1.27%

INTEL CORPORATION 0.62%

BANK OF AMERICA CORPORATION 0.61%

APPLIED MATERIALS, INC. 0.58%

GENERAL ELECTRIC COMPANY 0.55%

Only in USMV

WELLTOWER 1.41%

WASTE CONNECTIONS 1.30%

MCDONALDS CORP 0.98%

TJX 0.95%

ACCENTURE PLC CLASS A 0.91%

MARSH 0.87%

ELI LILLY 0.84%

TEXAS INSTRUMENT 0.79%

Check overlap with more funds →

Side by side

DFUS Dimensional U.S. Equity Market ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer Dimensional iShares

What it is Actively managed Tracks the MSCI USA Min Vol Factor

Total return, 1 year +13.8% +10.8%

Its benchmark over the same days +13.3% (IWV) not measured

Gap to its benchmark +0.5 pts vs IWV not measured

Expense ratio 0.09% 0.15%

Already in the S&P 500 89.4% 93.0%

Holdings 2236 176

Net assets, DFUS as of Jul 31, 2026 and USMV as of Oct 27, 2026 $20.9bn $24.1bn

DFUS and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-EFB55F0E62

DFUS and USMV are built for the same job. How do they differ in cost, holdings and results?

What each follows. DFUS follows No index, actively managed and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 31% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 DFUS returned +13.8% and USMV +10.8% with distributions reinvested, a gap of 3.0 points.

Data as of Oct 28, 2026.

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About each fund

DFUS

Over the year to Oct 28, 2026 it returned +13.8% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.

DFUS is actively managed and tracks no index. The prospectus expense ratio is 0.09% a year. By its holdings filed for Jul 31, 2026, 89% of the fund by weight is stocks the S&P 500 also holds, across 2,236 positions, with the top ten at 34.6%.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.

Questions people ask

Which returned more over the last year, DFUS or USMV?: In the year to Oct 28, 2026, with distributions reinvested, DFUS returned +13.8% and USMV +10.8%.
Which is cheaper, DFUS or USMV?: DFUS is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do DFUS and USMV overlap with the S&P 500?: By their latest filed holdings, 89% of DFUS and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

DFUS vs SPMO DFUS vs DGRW DFUS vs GSLC AVUS vs DFUS OEF vs USMV DYNF vs USMV SCHB vs USMV DIA vs USMV

Where to next

DFUS on its own →USMV on its own →Hold both: look the portfolio through →Rankings →DFUS dividend history →DFUS holdings →USMV dividend history →USMV holdings →Standards and sources →

Sources and dates

DFUS filings on SEC EDGAR ↗

DFUS prospectus with the expense ratio (SEC) ↗

Dimensional website ↗

USMV filings on SEC EDGAR ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, DFUS against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/dfus-vs-usmv

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.