Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
IVV vs USMV: how they differ
IVV and USMV hold 37% of their weight in the same names, and IVV returned more over the year.
iShares Core S&P 500 ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, IVV and USMV hold 37% of their money in the same securities at the same weight.
| Holding | IVV | USMV |
|---|---|---|
| MICROSOFT | 5.58% | 1.56% |
| NVIDIA | 8.06% | 1.54% |
| BERKSHIRE HATHAWAY INC CLASS B | 1.42% | 1.46% |
| EXXONMOBIL HOLDINGS CORP | 1.05% | 1.48% |
| JOHNSON & JOHNSON | 0.98% | 1.49% |
| APPLE | 7.31% | 0.95% |
| BROADCOM INC | 2.61% | 0.94% |
| VISA CLASS A | 0.93% | 1.00% |
| ELI LILLY | 1.36% | 0.76% |
| MICRON TECHNOLOGY | 1.68% | 0.76% |
| ADVANCED MICRO DEVICES | 1.25% | 0.73% |
| MASTERCARD CLASS A | 0.70% | 1.24% |
| Only in IVV | Only in USMV |
|---|---|
| ALPHABET CLASS A 2.98% | WASTE CONNECTIONS 1.19% |
| TESLA INC 1.56% | ALNYLAM PHARMACEUTICALS 0.57% |
| JPMORGAN CHASE & CO 1.45% | SNOWFLAKE 0.57% |
| INTEL CORPORATION 0.76% | CLOUDFLARE CLASS A 0.54% |
| BANK OF AMERICA 0.62% | FIRST CITIZENS BANCSHARES CLASS A 0.49% |
| CATERPILLAR INC 0.57% | LIBERTY MEDIA FORMULA ONE SERIES C 0.49% |
| GE AEROSPACE 0.52% | NEUROCRINE BIOSCIENCES 0.46% |
| GOLDMAN SACHS GROUP 0.46% | MERCADOLIBRE 0.39% |
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.
| IVV iShares Core S&P 500 ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | S&P 500 | MSCI USA Min Vol Factor |
| Total return, 1 year | +17.6% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +0.1 pts | −10.9 pts |
| Expense ratio | 0.03% | 0.15% |
| Already in the S&P 500 | 100.0% | 94.8% |
| Holdings | 505 | 175 |
IVV in plain words
IVV is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.1%.
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. The prospectus expense ratio is 0.15% a year. 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, IVV or USMV?
- In the year to Sep 13, 2026, with distributions reinvested, IVV returned +17.6% and USMV returned +6.6%, so IVV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, IVV or USMV?
- IVV charges 0.03% a year and USMV charges 0.15%, so IVV is cheaper. Fees come from each fund's prospectus.
- How much do IVV and USMV overlap with the S&P 500?
- By their latest filed holdings, 100% of IVV and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 37% of their books are the same securities at the same weight.
Other comparisons
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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, IVV against USMV, data as of Sep 13, 2026. https://etfiq.com/compare/any/ivv-vs-usmv Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources