Data as of Oct 28, 2026.
IYW vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, IYW returned +23.2% to USMV's +10.8%; 21% of their weight is in the same names.
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Net assets on Oct 27, 2026: $25.0bn for iShares U.S. Technology ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.22 points a year less; their one-year returns differ by 12.4 points.
| Measure | IYW | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +23.2% | +10.8% |
| Drawdown | ||
| Below its high | 5.5%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Russell 1000 Technology RIC 22 | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.37% | 0.15% |
| Net assets, as of Oct 27, 2026 | $25.0bn | $24.1bn |
| Holdings | ||
| Holdings in common | 21% | |
| Top ten holdings, share of the fund | 65.1% | 14.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 28, 2011 to Oct 23, 2026 · 782 weekly returnsIYW returned more: +1,554.8% to +423.5%. USMV swung less: 13.4% to 20.9%. USMV fell less at its worst: −30.6% to −38.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IYW | USMV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +1,554.8% | +423.5% | IYW | Price change plus distributions, reinvested. |
| Annualized | +20.5% | +11.6% | IYW | Total return as a yearly rate. |
| Price return | +1,384.5% | +295.7% | IYW | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.9% | 13.4% | USMV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.8% | 9.3% | USMV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −38.4% | −30.6% | USMV | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.92 | 0.76 | IYW | Return above Treasury bills per unit of volatility. |
| Sortino | 1.39 | 1.09 | IYW | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.53 | 0.38 | IYW | 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, IYW and USMV hold 21% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
21% in common
Only in one fund ↓
Side by side
IYW and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IYW and USMV do different jobs. What does each one do in a portfolio?
- What each follows. IYW follows Russell 1000 Technology RIC 22 and USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 21% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IYW returned +23.2% and USMV +10.8% with distributions reinvested, a gap of 12.4 points.
Data as of Oct 28, 2026.
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IYW
IYW tracks an index of U.S. Technology. Over the year to Oct 28, 2026 it returned +23.2% with distributions reinvested, against +13.1% for its benchmark, the Russell 1000 Index. The prospectus expense ratio is 0.37% a year. By its holdings published by its issuer for Oct 27, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 150 positions, with the top ten at 65.1%. It sat 5.5% below its high of Oct 6, 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, IYW or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, IYW returned +23.2% and USMV +10.8%.
- Which is cheaper, IYW or USMV?
- USMV is cheaper, by 0.22 percentage points a year. That is about $22 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, IYW against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/iyw-vs-usmv
ETFIQ. (Oct 28, 2026). IYW against USMV. Retrieved from https://etfiq.com/compare/any/iyw-vs-usmv
[IYW against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iyw-vs-usmv)
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