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

In the year to Oct 9, 2026, with distributions reinvested, IWL returned +16.8% and USMV +7.5%.

Which is cheaper, IWL or USMV?

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

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

By their latest filed holdings, 99% of IWL and 93% of USMV by weight is stocks the S&P 500 already holds.

Compare their flows Ask IQ about these two funds

IWL vs USMV: Differences, Returns & Fees

IWL and USMV hold 37% of their weight in the same names, and IWL returned +16.8% over the year. Net assets on Oct 9, 2026: $2.3bn for iShares Russell Top 200 ETF and $23.8bn for iShares MSCI USA Min Vol Factor ETF.

Both cost 0.15% a year; their one-year returns differ by 9.3 points; USMV is 10.4 times larger.

IWL vs USMV: Differences, Returns & Fees
	IWL	USMV
Expense ratio	0.15%	0.15%
Net assets	$2.3bn	$23.8bn
Total return, 1 year	+16.8%	+7.5%
What it tracks	Russell Top 200 Index	MSCI USA Minimum Volatility (USD) Index
Holdings in common	37%
Top ten holdings, share of the fund	44.6%	15.1%

Holdings in common uses holdings dated Oct 9, 2026.

+16.8%

IWL total return, 1 year

+7.5%

USMV total return, 1 year

0.15%

IWL expense ratio

0.15%

USMV expense ratio

What they hold in common

By the books each fund has filed, IWL and USMV hold 37% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 9, 2026.

50%

half

37% in common

Positions both hold, largest shared weight first

Holding IWL USMV

MICROSOFT 6.82% 1.66%

NVIDIA 9.18% 1.59%

BERKSHIRE HATHAWAY INC CLASS B 1.65% 1.46%

EXXONMOBIL HOLDINGS CORP 1.19% 1.49%

JOHNSON & JOHNSON 1.08% 1.44%

VISA CLASS A 1.12% 1.03%

APPLE 8.35% 0.96%

BROADCOM INC 2.89% 0.93%

ADVANCED MICRO DEVICES 1.70% 0.86%

MASTERCARD CLASS A 0.82% 1.27%

CISCO SYSTEMS INC 0.80% 1.47%

PALANTIR TECHNOLOGIES CLASS A 0.80% 1.16%

Only in IWL

ALPHABET CLASS A 3.52%

TESLA INC 1.92%

JPMORGAN CHASE & CO 1.53%

INTEL CORPORATION 0.82%

CATERPILLAR INC 0.62%

BANK OF AMERICA 0.60%

GE AEROSPACE 0.55%

GOLDMAN SACHS GROUP 0.44%

Only in USMV

CENCORA 1.27%

CONSOLIDATED EDISON 1.18%

WASTE CONNECTIONS 1.12%

ROPER TECHNOLOGIES 0.96%

TELEDYNE TECHNOLOGIES INC 0.86%

YUM BRANDS 0.84%

WEC ENERGY GROUP 0.76%

VERISIGN 0.75%

Check overlap with more funds →

On the same fields

IWL

iShares Russell Top 200 ETF

USMV

iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer iShares iShares

What it is Tracks an index Tracks the MSCI USA Min Vol Factor

Total return, 1 year +16.8% +7.5%

Expense ratio 0.15% 0.15%

Already in the S&P 500 99.2% 93.0%

Holdings 202 176

Net assets $2.3bn $23.8bn

IWL and USMV on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About IWL

IWL tracks an index. Over the year to Oct 9, 2026 it returned +16.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 9, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 202 positions, with the top ten at 44.6%.

About USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 9, 2026 it returned +7.5% with distributions reinvested. By its holdings published by its issuer for Oct 9, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 15.1%.

Questions people ask

Which returned more over the last year, IWL or USMV?: In the year to Oct 9, 2026, with distributions reinvested, IWL returned +16.8% and USMV +7.5%.
Which is cheaper, IWL or USMV?: Neither: IWL and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do IWL and USMV overlap with the S&P 500?: By their latest filed holdings, 99% of IWL and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

IWL vs SPMO IWL vs RDVY DFUS vs IWL IWL vs OEF SNPE vs USMV SPHB vs USMV SFLR vs USMV DFSU vs USMV

IWL on its own →USMV on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

IWL and USMV filings on SEC EDGAR ↗IWL prospectus with the expense ratio (SEC) ↗iShares page for IWL ↗USMV prospectus with the expense ratio (SEC) ↗iShares page for USMV ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, IWL against USMV, data as of Oct 9, 2026. https://etfiq.com/compare/any/iwl-vs-usmv

Open data

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