Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
GARP vs USMV: how they differ
GARP and USMV hold 22% of their weight in the same names, and GARP returned more over the year.
iShares MSCI USA Quality GARP ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, GARP and USMV hold 22% of their money in the same securities at the same weight.
| Holding | GARP | USMV |
|---|---|---|
| MICROSOFT | 5.16% | 1.56% |
| NVIDIA | 5.09% | 1.54% |
| AMPHENOL CORP CLASS A | 1.28% | 1.58% |
| VISA CLASS A | 4.60% | 1.00% |
| APPLE | 5.23% | 0.95% |
| BROADCOM INC | 1.76% | 0.94% |
| PALANTIR TECHNOLOGIES CLASS A | 2.34% | 0.94% |
| FORTINET | 1.49% | 0.79% |
| MASTERCARD CLASS A | 0.78% | 1.24% |
| ELI LILLY | 1.53% | 0.76% |
| MICRON TECHNOLOGY | 4.76% | 0.76% |
| ADVANCED MICRO DEVICES | 1.77% | 0.73% |
| Only in GARP | Only in USMV |
|---|---|
| CATERPILLAR INC 3.65% | CHUBB 1.49% |
| KLA 3.50% | JOHNSON & JOHNSON 1.49% |
| ALPHABET CLASS A 2.28% | VERIZON COMMUNICATIONS INC 1.49% |
| INTEL CORPORATION 1.90% | EXXONMOBIL HOLDINGS CORP 1.48% |
| ROYAL CARIBBEAN GROUP 1.57% | MOTOROLA SOLUTIONS INC 1.48% |
| GE AEROSPACE 0.99% | BERKSHIRE HATHAWAY INC CLASS B 1.46% |
| AIRBNB CLASS A 0.83% | MERCK & CO INC 1.46% |
| COMFORT SYSTEMS USA 0.77% | VERTEX PHARMACEUTICALS 1.39% |
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 Sep 10, 2026.
| GARP iShares MSCI USA Quality GARP ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI USA Quality GARP | MSCI USA Min Vol Factor |
| Total return, 1 year | +29.5% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +12.0 pts | −10.9 pts |
| Expense ratio | 0.15% | 0.15% |
| Already in the S&P 500 | 94.4% | 94.8% |
| Holdings | 133 | 175 |
GARP in plain words
GARP is an index equity fund tracking the MSCI USA Quality GARP. Over the year to Sep 11, 2026 it returned +29.5% 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 Sep 10, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 133 positions, with the top ten at 43.2%.
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. By its holdings filed for Sep 10, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 175 positions, with the top ten at 15.1%.
Questions people ask
- Which returned more over the last year, GARP or USMV?
- In the year to Sep 13, 2026, with distributions reinvested, GARP returned +29.5% and USMV returned +6.6%, so GARP returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, GARP or USMV?
- GARP charges 0.15% a year and USMV charges 0.15%, so GARP is cheaper. Fees come from each fund's prospectus.
- How much do GARP and USMV overlap with the S&P 500?
- By their latest filed holdings, 94% of GARP and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 22% of their books are the same securities at the same weight.
Other comparisons
Where to next
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, GARP against USMV, data as of Sep 13, 2026. https://etfiq.com/compare/any/garp-vs-usmv Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources