Data as of Oct 28, 2026.
ONEQ vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, ONEQ returned +12.7% to USMV's +10.8%; 19% of their weight is in the same names.
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Net assets: $10.9bn on Sep 30, 2026 for Fidelity Nasdaq Composite Index ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.06 points a year less; their one-year returns differ by 1.9 points; USMV is 2.1 times larger.
| Measure | ONEQ | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.7% | +10.8% |
| Drawdown | ||
| Below its high | 3.8%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Nasdaq Composite Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.21% | 0.15% |
| Net assets, as of Sep 30, 2026 | $10.9bn | $23.2bn |
| Holdings | ||
| Holdings in common | 19% | |
| Top ten holdings, share of the fund | 56.0% | 14.8% |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, ONEQ and USMV hold 19% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
19% in common
Only in one fund ↓
Side by side
ONEQ and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ONEQ and USMV do different jobs. What does each one do in a portfolio?
- What each follows. ONEQ follows Nasdaq Composite Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
- Holdings in common. 19% of the weight is in the same securities (holdings dated Aug 31, 2026 and Oct 27, 2026).
- Number of holdings. ONEQ holds 1,026 positions and USMV holds 176.
Data as of Oct 28, 2026.
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ONEQ
ONEQ tracks the Nasdaq Composite. Over the year to Oct 28, 2026 it returned +12.7% with distributions reinvested. The prospectus expense ratio is 0.21% a year. By its holdings filed for Aug 31, 2026, 85% of the fund by weight is stocks the S&P 500 also holds, across 1,026 positions, with the top ten at 56.0%. It sat 3.8% 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, ONEQ or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, ONEQ returned +12.7% and USMV +10.8%.
- Which is cheaper, ONEQ or USMV?
- USMV is cheaper, by 0.06 percentage points a year. That is about $6 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, ONEQ against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/oneq-vs-usmv
ETFIQ. (Oct 28, 2026). ONEQ against USMV. Retrieved from https://etfiq.com/compare/any/oneq-vs-usmv
[ONEQ against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/oneq-vs-usmv)
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