Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
IWC vs USMV: how they differ
IWC and USMV hold 0% of their weight in the same names, and IWC returned more over the year.
iShares Micro-Cap ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, IWC and USMV hold 0% of their money in the same securities at the same weight.
| Holding | IWC | USMV |
|---|---|---|
| BLK CSH FND TREASURY SL AGENCY | 0.03% | 0.17% |
| Only in IWC | Only in USMV |
|---|---|
| CAREDX 0.61% | AMPHENOL CORP CLASS A 1.58% |
| SELLAS LIFE SCIENCES GROUP INC 0.60% | MICROSOFT 1.56% |
| NURIX THERAPEUTICS 0.59% | NVIDIA 1.54% |
| PENGUIN SOLUTIONS INC 0.58% | WELLTOWER 1.53% |
| OUSTER 0.52% | CHUBB 1.49% |
| VIRIDIAN THERAPEUTICS ORS 0.48% | JOHNSON & JOHNSON 1.49% |
| INTERFACE 0.47% | VERIZON COMMUNICATIONS INC 1.49% |
| MBX BIOSCIENCES 0.45% | EXXONMOBIL HOLDINGS CORP 1.48% |
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.
| IWC iShares Micro-Cap ETF | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | Russell Microcap | MSCI USA Min Vol Factor |
| Total return, 1 year | +31.3% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +13.8 pts | −10.9 pts |
| Expense ratio | not published | 0.15% |
| Already in the S&P 500 | 91.9% | 94.8% |
| Holdings | 1252 | 175 |
IWC in plain words
IWC is an index equity fund tracking the Russell Microcap. Over the year to Sep 11, 2026 it returned +31.3% 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, 92% of the fund by weight is stocks the S&P 500 also holds, across 1252 positions, with the top ten at 5.1%. It sat 5.0% below its high of Aug 14, 2026 on Sep 11, 2026.
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, IWC or USMV?
- In the year to Sep 13, 2026, with distributions reinvested, IWC returned +31.3% and USMV returned +6.6%, so IWC returned more. One year is one year; the longer windows are in the table.
- How much do IWC and USMV overlap with the S&P 500?
- By their latest filed holdings, 92% of IWC and 95% of USMV by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
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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, IWC against USMV, data as of Sep 13, 2026. https://etfiq.com/compare/any/iwc-vs-usmv Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources