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

In the year to Oct 28, 2026, with distributions reinvested, IWB returned +13.1% and USMV +10.8%.

Which is cheaper, IWB or USMV?

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

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

By their latest filed holdings, 92% of IWB and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

IWB vs USMV: Differences, Returns & Fees

Share on X Download as PDF

Over the year to Oct 28, 2026, IWB returned +13.1% to USMV's +10.8%; 36% of their weight is in the same names.

askIQ about this page

askIQ about IWB and USMV

Net assets: $49.1bn on Oct 28, 2026 for iShares Russell 1000 ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.

IWB on its own →USMV on its own →

At a glance

+13.1%

IWB total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

IWB expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 2.3 points; IWB is 2.0 times larger.

Points (pts) are percentage points.

IWB vs USMV: Differences, Returns & Fees
Measure	IWB	USMV
Return
Measure	IWB	USMV
Total return, 1 year	+13.1%	+10.8%
Benchmark
Measure	IWB	USMV
What it tracks	Russell 1000 Index	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	IWB	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Oct 23, 2026	$48.4bn	$24.1bn
Holdings
Measure	IWB	USMV
Holdings in common	36%
Top ten holdings, share of the fund	35.3%	14.8%

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

Risk and return

Oct 28, 2011 to Oct 23, 2026 · 782 weekly returns

IWB USMV

Return

Total return edge IWB +646.1% +423.5%

Annualized edge IWB +14.3% +11.6%

Price return edge IWB +483.7% +295.7%

Risk

Volatility edge USMV 16.0% 13.4%

Max drawdown edge USMV (slight) −32.7% −30.6%

Risk-adjusted

Sharpe edge IWB (slight) 0.81 0.76

Sortino edge IWB (slight) 1.18 1.09

Calmar edge IWB 0.44 0.38

Reading

IWB returned more: +646.1% to +423.5%. USMV swung less: 13.4% to 16.0%. USMV fell slightly less at its worst: −30.6% to −32.7%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: IWB vs USMV: Differences, Returns & Fees
Measure	IWB	USMV	Edge	How it is measured
Return
Total return	+646.1%	+423.5%	IWB	Price change plus distributions, reinvested.
Annualized	+14.3%	+11.6%	IWB	Total return as a yearly rate.
Price return	+483.7%	+295.7%	IWB	Price change alone, distributions left out.
Risk
Volatility	16.0%	13.4%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	11.0%	9.3%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−32.7%	−30.6%	USMV (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.81	0.76	IWB (slight)	Return above Treasury bills per unit of volatility.
Sortino	1.18	1.09	IWB (slight)	Return above Treasury bills per unit of downside deviation.
Calmar	0.44	0.38	IWB	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 782 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

36%

By the books each fund has filed, IWB and USMV hold 36% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

36% in common

Positions both hold · largest shared weight first IWB USMV

MICROSOFT 5.56% 1.61%

NVIDIA 7.15% 1.47%

BERKSHIRE HATHAWAY INC CLASS B 1.42% 1.50%

EXXONMOBIL HOLDINGS CORP 1.04% 1.54%

APPLE 7.06% 0.96%

VISA CLASS A 0.96% 1.05%

JOHNSON & JOHNSON 0.91% 1.44%

BROADCOM INC 2.24% 0.86%

ELI LILLY 1.44% 0.84%

ADVANCED MICRO DEVICES 1.28% 0.77%

WALMART 0.74% 0.73%

ABBVIE 0.71% 0.78%

Only in one fund ↓

Only in IWB

ALPHABET CLASS A 2.63%

TESLA INC 1.68%

JPMORGAN CHASE & CO 1.26%

INTEL CORPORATION 0.60%

BANK OF AMERICA 0.46%

CATERPILLAR INC 0.46%

GE AEROSPACE 0.43%

GOLDMAN SACHS GROUP 0.37%

Only in USMV

WASTE CONNECTIONS 1.30%

TE CONNECTIVITY PLC 0.58%

MERCADOLIBRE 0.33%

SEAGATE TECHNOLOGY HOLDINGS PLC 0.29%

DOW JONES US REAL ESTATE DEC 26 0.00%

Check overlap with more funds →

Side by side

IWB iShares Russell 1000 ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer iShares iShares

What it is Tracks the Russell 1000 Tracks the MSCI USA Min Vol Factor

Total return, 1 year +13.1% +10.8%

Its benchmark over the same days +13.2% (VONE) not measured

Gap to its benchmark −0.1 pts vs VONE not measured

Expense ratio 0.15% 0.15%

Already in the S&P 500 91.7% 93.0%

Holdings 1025 176

Net assets, IWB as of Oct 28, 2026 and USMV as of Oct 27, 2026 $49.1bn $24.1bn

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

Client brief · page 1 of 2 Report BR-8186256D6F

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

What each follows. IWB follows Russell 1000 Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 36% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 IWB returned +13.1% and USMV +10.8% with distributions reinvested, a gap of 2.3 points.

Data as of Oct 28, 2026.

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

About each fund

IWB

IWB tracks the Russell 1000. Over the year to Oct 28, 2026 it returned +13.1% with distributions reinvested, against +13.2% for its benchmark, the Russell 1000 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,025 positions, with the top ten at 35.3%.

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, IWB or USMV?: In the year to Oct 28, 2026, with distributions reinvested, IWB returned +13.1% and USMV +10.8%.
Which is cheaper, IWB or USMV?: Neither: IWB and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do IWB and USMV overlap with the S&P 500?: By their latest filed holdings, 92% of IWB and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

IWB vs RDVY CGGR vs IWB IWB vs SPMO DFUS vs IWB QUAL vs USMV USMV vs VV RDVY vs USMV SPMO vs USMV

Where to next

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

Sources and dates

IWB and USMV filings on SEC EDGAR ↗

IWB prospectus with the expense ratio (SEC) ↗

iShares page for IWB ↗

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

Open data →

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