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

In the year to Oct 28, 2026, with distributions reinvested, FDVV returned +13.5% and USMV +10.8%.

Which is cheaper, FDVV or USMV?

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

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

By their latest filed holdings, 87% of FDVV and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

FDVV vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FDVV returned +13.5% to USMV's +10.8%; 13% of their weight is in the same names.

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Net assets: $10.2bn on Sep 30, 2026 for Fidelity High Dividend ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.

FDVV on its own →USMV on its own →

At a glance

+13.5%

FDVV total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

FDVV expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 2.7 points; USMV is 2.3 times larger.

FDVV vs USMV: Differences, Returns & Fees
Measure	FDVV	USMV
Return
Measure	FDVV	USMV
Total return, 1 year	+13.5%	+10.8%
Benchmark
Measure	FDVV	USMV
What it tracks	Fidelity High Dividend Index	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	FDVV	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Sep 30, 2026	$10.2bn	$23.2bn
Holdings
Measure	FDVV	USMV
Holdings in common	13%
Top ten holdings, share of the fund	33.8%	14.8%

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

Risk and return

Sep 23, 2016 to Oct 23, 2026 · 526 weekly returns

FDVV USMV

Return

Total return edge FDVV +247.7% +169.2%

Annualized edge FDVV +13.1% +10.3%

Price return edge FDVV +143.5% +124.0%

Risk

Volatility edge USMV 16.9% 14.7%

Max drawdown edge USMV −37.4% −30.6%

Risk-adjusted

Sharpe edge FDVV 0.67 0.57

Sortino edge FDVV 0.93 0.80

Calmar edge FDVV (slight) 0.35 0.34

Reading

FDVV returned more: +247.7% to +169.2%. USMV swung less: 14.7% to 16.9%. USMV fell less at its worst: −30.6% to −37.4%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FDVV vs USMV: Differences, Returns & Fees
Measure	FDVV	USMV	Edge	How it is measured
Return
Total return	+247.7%	+169.2%	FDVV	Price change plus distributions, reinvested.
Annualized	+13.1%	+10.3%	FDVV	Total return as a yearly rate.
Price return	+143.5%	+124.0%	FDVV	Price change alone, distributions left out.
Risk
Volatility	16.9%	14.7%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	12.1%	10.5%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−37.4%	−30.6%	USMV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.67	0.57	FDVV	Return above Treasury bills per unit of volatility.
Sortino	0.93	0.80	FDVV	Return above Treasury bills per unit of downside deviation.
Calmar	0.35	0.34	FDVV (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 526 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

13%

By the books each fund has filed, FDVV and USMV hold 13% 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

13% in common

Positions both hold · largest shared weight first FDVV USMV

MICROSOFT CORP 4.88% 1.61%

NVIDIA CORP 6.57% 1.47%

COCA COLA CO 1.96% 1.28%

SOUTHERN COMPANY 1.13% 1.35%

MCDONALDS CORP 1.36% 0.98%

APPLE INC 6.18% 0.96%

BROADCOM INC 3.11% 0.86%

PEPSICO INC 1.37% 0.79%

ACCENTURE PLC 0.64% 0.91%

PHILIP MORRIS INTERNATIONAL INC 1.80% 0.59%

AMERICAN ELECTRIC POWER CO INC 1.10% 0.48%

ABBVIE INC 0.45% 0.78%

Only in one fund ↓

Only in FDVV

JPMORGAN CHASE and CO 2.76%

DELL TECHNOLOGIES INC 2.66%

BANK OF AMERICA CORPORATION 1.96%

GOLDMAN SACHS GROUP INC (THE) 1.80%

PROCTER and GAMBLE CO 1.69%

BEST BUY CO INC 1.65%

STARBUCKS CORP 1.58%

TJX COMPANIES INC 1.58%

Only in USMV

EXXONMOBIL HOLDINGS CORP 1.54%

BERKSHIRE HATHAWAY INC CLASS B 1.50%

CHUBB 1.50%

MOTOROLA SOLUTIONS INC 1.48%

AMPHENOL CORP CLASS A 1.47%

JOHNSON & JOHNSON 1.44%

MCKESSON CORP 1.43%

WELLTOWER 1.41%

Check overlap with more funds →

Side by side

FDVV Fidelity High Dividend 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 of High Dividend Tracks the MSCI USA Min Vol Factor

Total return, 1 year +13.5% +10.8%

Expense ratio 0.15% 0.15%

Already in the S&P 500 87.4% 93.0%

Holdings 95 176

Net assets, FDVV as of Sep 30, 2026 and USMV as of Oct 27, 2026 $10.2bn $24.1bn

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

Client brief · page 1 of 2 Report BR-D711BC79E3

FDVV and USMV do different jobs. What does each one do in a portfolio?

What each follows. FDVV follows Fidelity High Dividend Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 13% 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 FDVV returned +13.5% and USMV +10.8% with distributions reinvested, a gap of 2.7 points.

Data as of Oct 28, 2026.

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About each fund

FDVV

FDVV tracks an index of High Dividend. Over the year to Oct 28, 2026 it returned +13.5% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 87% of the fund by weight is stocks the S&P 500 also holds, across 95 positions, with the top ten at 33.8%.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. 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, FDVV or USMV?: In the year to Oct 28, 2026, with distributions reinvested, FDVV returned +13.5% and USMV +10.8%.
Which is cheaper, FDVV or USMV?: Neither: FDVV and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do FDVV and USMV overlap with the S&P 500?: By their latest filed holdings, 87% of FDVV and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

FDVV vs SPMO AVUS vs FDVV FDVV vs SCHB FDVV vs QUAL SPLV vs USMV SPHD vs USMV EQWL vs USMV USMV vs VLUE

Where to next

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

Sources and dates

FDVV filings on SEC EDGAR ↗

FDVV prospectus with the expense ratio (SEC) ↗

Fidelity 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, FDVV against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdvv-vs-usmv

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