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

In the year to Oct 9, 2026, with distributions reinvested, FDLO returned +12.1% and USMV +7.5%.

Which is cheaper, FDLO or USMV?

Neither: FDLO and USMV both charge 0.15% a year. Fees come from each fund's prospectus.

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

By their latest filed holdings, 96% of FDLO and 93% of USMV by weight is stocks the S&P 500 already holds.

Compare their flows Ask IQ about these two funds

FDLO vs USMV: Differences, Returns & Fees

FDLO and USMV hold 30% of their weight in the same names, and FDLO returned +12.1% over the year. Net assets: $1.4bn on Sep 30, 2026 for Fidelity Low Volatility Factor ETF, and $23.8bn on Oct 9, 2026 for iShares MSCI USA Min Vol Factor ETF.

Both cost 0.15% a year; their one-year returns differ by 4.6 points; USMV is 16.7 times larger.

FDLO vs USMV: Differences, Returns & Fees
	FDLO	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Sep 30, 2026	$1.4bn	$23.2bn
Total return, 1 year	+12.1%	+7.5%
What it tracks	Fidelity U.S. Low Volatility Factor Index	MSCI USA Minimum Volatility (USD) Index
Holdings in common	30%
Top ten holdings, share of the fund	38.5%	15.1%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 9, 2026.

+12.1%

FDLO total return, 1 year

+7.5%

USMV total return, 1 year

0.15%

FDLO expense ratio

0.15%

USMV expense ratio

What they hold in common

By the books each fund has filed, FDLO and USMV hold 30% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Oct 9, 2026.

50%

half

30% in common

Positions both hold, largest shared weight first

Holding FDLO USMV

MICROSOFT CORP 6.33% 1.66%

CISCO SYSTEMS INC 2.20% 1.47%

MOTOROLA SOLUTIONS INC 1.22% 1.39%

EXXONMOBIL HOLDINGS CORP 1.13% 1.49%

MASTERCARD INC 1.12% 1.27%

VISA INC 1.37% 1.03%

APPLE INC 7.98% 0.96%

ROPER TECHNOLOGIES INC 1.22% 0.96%

BROADCOM INC 4.08% 0.93%

VERIZON COMMUNICATIONS INC 0.90% 1.22%

ACCENTURE PLC 0.88% 0.83%

ABBVIE INC 1.16% 0.78%

Only in FDLO

JPMORGAN CHASE and CO 1.87%

BERKSHIRE HATHAWAY INC DEL 1.81%

ELI LILLY and CO 1.80%

TEXAS INSTRUMENTS INC. 1.69%

AMPHENOL CORPORATION NEW 1.61%

JOHNSON and JOHNSON 1.39%

IBM CORPORATION 1.13%

BANK OF AMERICA CORPORATION 1.07%

Only in USMV

AMPHENOL CORP CLASS A 1.68%

NVIDIA 1.59%

BERKSHIRE HATHAWAY INC CLASS B 1.46%

JOHNSON & JOHNSON 1.44%

MERCK & CO INC 1.44%

MCKESSON CORP 1.42%

VERTEX PHARMACEUTICALS 1.35%

DUKE ENERGY CORP 1.32%

Check overlap with more funds →

On the same fields

FDLO

Fidelity Low Volatility Factor ETF

USMV

iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer Fidelity iShares

What it is Tracks an index Tracks the MSCI USA Min Vol Factor

Total return, 1 year +12.1% +7.5%

Expense ratio 0.15% 0.15%

Already in the S&P 500 96.3% 93.0%

Holdings 123 176

Net assets, FDLO as of Sep 30, 2026 and USMV as of Oct 9, 2026 $1.4bn $23.8bn

FDLO and USMV on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About FDLO

FDLO tracks an index. Over the year to Oct 9, 2026 it returned +12.1% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 123 positions, with the top ten at 38.5%.

About USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 9, 2026 it returned +7.5% with distributions reinvested. By its holdings published by its issuer for Oct 9, 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, FDLO or USMV?: In the year to Oct 9, 2026, with distributions reinvested, FDLO returned +12.1% and USMV +7.5%.
Which is cheaper, FDLO or USMV?: Neither: FDLO and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do FDLO and USMV overlap with the S&P 500?: By their latest filed holdings, 96% of FDLO and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

FDLO vs SPMO FDLO vs RDVY DFUS vs FDLO FDLO vs OEF LRGC vs USMV FQAL vs USMV FVAL vs USMV QQQE vs USMV

FDLO on its own →USMV on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

FDLO filings on SEC EDGAR ↗FDLO prospectus with the expense ratio (SEC) ↗Fidelity website ↗USMV filings on SEC EDGAR ↗USMV prospectus with the expense ratio (SEC) ↗iShares page for USMV ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, FDLO against USMV, data as of Oct 9, 2026. https://etfiq.com/compare/any/fdlo-vs-usmv

Open data

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