Data as of Oct 28, 2026.
IWC vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWC returned +16.5% to USMV's +10.8%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $1.2bn for iShares Micro-Cap ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.45 points a year less; their one-year returns differ by 5.7 points; USMV is far larger, $24.1bn against $1.2bn.
| Measure | IWC | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +10.8% |
| Drawdown | ||
| Below its high | 9.5%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Russell Microcap Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.60% | 0.15% |
| Net assets, as of Oct 27, 2026 | $1.2bn | $24.1bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 5.9% | 14.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 28, 2011 to Oct 23, 2026 · 782 weekly returnsUSMV returned more: +423.5% to +361.8%. USMV swung less: 13.4% to 22.3%. USMV fell less at its worst: −30.6% to −45.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IWC | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +361.8% | +423.5% | USMV | Price change plus distributions, reinvested. |
| Annualized | +10.7% | +11.6% | USMV (slight) | Total return as a yearly rate. |
| Price return | +284.6% | +295.7% | USMV (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.3% | 13.4% | USMV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.3% | 9.3% | USMV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −45.2% | −30.6% | USMV | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.49 | 0.76 | USMV | Return above Treasury bills per unit of volatility. |
| Sortino | 0.72 | 1.09 | USMV | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.24 | 0.38 | USMV | 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
By the books each fund has filed, IWC and USMV hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
IWC and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWC and USMV do different jobs. What does each one do in a portfolio?
- What each follows. IWC follows Russell Microcap Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWC returned +16.5% and USMV +10.8% with distributions reinvested, a gap of 5.7 points.
Data as of Oct 28, 2026.
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Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
IWC tracks the Russell Microcap. The prospectus expense ratio is 0.60% 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 1,365 positions, with the top ten at 5.9%. It sat 9.5% below its high of Aug 14, 2026 on Oct 28, 2026.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. 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, IWC or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, IWC returned +16.5% and USMV +10.8%.
- Which is cheaper, IWC or USMV?
- USMV is cheaper, by 0.45 percentage points a year. That is about $45 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, IWC against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwc-vs-usmv
ETFIQ. (Oct 28, 2026). IWC against USMV. Retrieved from https://etfiq.com/compare/any/iwc-vs-usmv
[IWC against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwc-vs-usmv)
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