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

In the year to Oct 28, 2026, with distributions reinvested, QQQM returned +15.2% and USMV +10.8%.

Which is cheaper, QQQM or USMV?

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

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

By their latest filed holdings, 96% of QQQM and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

QQQM vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, QQQM returned +15.2% to USMV's +10.8%; 25% of their weight is in the same names.

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Net assets on Oct 27, 2026: $110.4bn for Invesco NASDAQ 100 ETF and $24.1bn for iShares MSCI USA Min Vol Factor ETF.

QQQM on its own →USMV on its own →

At a glance

+15.2%

QQQM total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

QQQM expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 4.4 points; QQQM is 4.6 times larger.

Points (pts) are percentage points.

QQQM vs USMV: Differences, Returns & Fees
Measure	QQQM	USMV
Return
Measure	QQQM	USMV
Total return, 1 year	+15.2%	+10.8%
Drawdown
Measure	QQQM	USMV
Below its high	4.5%, high on Oct 6, 2026
Benchmark
Measure	QQQM	USMV
What it tracks	Nasdaq-100 Index	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	QQQM	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$110.4bn	$24.1bn
Holdings
Measure	QQQM	USMV
Holdings in common	25%
Top ten holdings, share of the fund	46.7%	14.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Oct 23, 2020 to Oct 23, 2026 · 313 weekly returns

QQQM USMV

Return

Total return edge QQQM +157.2% +74.4%

Annualized edge QQQM +17.0% +9.7%

Price return edge QQQM +147.9% +58.3%

Risk

Volatility edge USMV 21.0% 12.3%

Max drawdown edge USMV −35.0% −17.6%

Risk-adjusted

Sharpe edge QQQM 0.70 0.55

Sortino edge QQQM 1.07 0.81

Calmar edge USMV 0.49 0.55

Reading

QQQM returned more: +157.2% to +74.4%. USMV swung less: 12.3% to 21.0%. USMV fell less at its worst: −17.6% to −35.0%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: QQQM vs USMV: Differences, Returns & Fees
Measure	QQQM	USMV	Edge	How it is measured
Return
Total return	+157.2%	+74.4%	QQQM	Price change plus distributions, reinvested.
Annualized	+17.0%	+9.7%	QQQM	Total return as a yearly rate.
Price return	+147.9%	+58.3%	QQQM	Price change alone, distributions left out.
Risk
Volatility	21.0%	12.3%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	13.6%	8.3%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−35.0%	−17.6%	USMV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.70	0.55	QQQM	Return above Treasury bills per unit of volatility.
Sortino	1.07	0.81	QQQM	Return above Treasury bills per unit of downside deviation.
Calmar	0.49	0.55	USMV	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 313 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

25%

By the books each fund has filed, QQQM and USMV hold 25% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

25% in common

Positions both hold · largest shared weight first QQQM USMV

Microsoft Corp 6.14% 1.61%

NVIDIA Corp 8.17% 1.47%

Cisco Systems Inc 1.89% 1.35%

Palantir Technologies Inc 1.96% 1.08%

Apple Inc 7.88% 0.96%

Broadcom Inc 2.53% 0.86%

Gilead Sciences Inc 0.85% 0.91%

Analog Devices Inc 0.89% 0.79%

Texas Instruments Inc 1.21% 0.79%

PepsiCo Inc 0.78% 0.79%

Advanced Micro Devices Inc 3.93% 0.77%

Palo Alto Networks Inc 1.41% 0.73%

Only in one fund ↓

Only in QQQM

Tesla Inc 3.33%

Space Exploration Technologies Corp 2.74%

Alphabet Inc 2.72%

Intel Corp 2.12%

KLA Corp 0.86%

Shopify Inc 0.86%

Intuitive Surgical Inc 0.68%

ASML Holding NV 0.66%

Only in USMV

EXXONMOBIL HOLDINGS CORP 1.54%

BERKSHIRE HATHAWAY INC CLASS B 1.50%

CHUBB 1.50%

MOTOROLA SOLUTIONS INC 1.48%

AMPHENOL CORP CLASS A 1.47%

JOHNSON & JOHNSON 1.44%

MCKESSON CORP 1.43%

WELLTOWER 1.41%

Check overlap with more funds →

Side by side

QQQM Invesco NASDAQ 100 ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Stock ETF Stock ETF

Issuer Invesco iShares

What it is Tracks the Nasdaq-100 Tracks the MSCI USA Min Vol Factor

Total return, 1 year +15.2% +10.8%

Its benchmark over the same days +15.2% (QQQ) not measured

Gap to its benchmark 0.0 pts vs QQQ not measured

Expense ratio 0.15% 0.15%

Already in the S&P 500 95.7% 93.0%

Holdings 105 176

Net assets, as of Oct 27, 2026 $110.4bn $24.1bn

QQQM and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-296FC7DC8D

QQQM and USMV do different jobs. What does each one do in a portfolio?

What each follows. QQQM follows Nasdaq-100 Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 25% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 QQQM returned +15.2% and USMV +10.8% with distributions reinvested, a gap of 4.4 points.

Data as of Oct 28, 2026.

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About each fund

QQQM

QQQM tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 105 positions, with the top ten at 46.7%. It sat 4.5% 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. 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, QQQM or USMV?: In the year to Oct 28, 2026, with distributions reinvested, QQQM returned +15.2% and USMV +10.8%.
Which is cheaper, QQQM or USMV?: Neither: QQQM and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do QQQM and USMV overlap with the S&P 500?: By their latest filed holdings, 96% of QQQM and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

QQQM vs RDVY CGGR vs QQQM QQQM vs SPMO QQQM vs SPHQ SCHG vs USMV SPYG vs USMV USMV vs VUG USMV vs VONG

Where to next

QQQM on its own →USMV on its own →Hold both: look the portfolio through →Rankings →QQQM dividend history →QQQM holdings →USMV dividend history →USMV holdings →Standards and sources →

Sources and dates

QQQM filings on SEC EDGAR ↗

QQQM prospectus with the expense ratio (SEC) ↗

Invesco page for QQQM ↗

USMV filings on SEC EDGAR ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, QQQM against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqqm-vs-usmv

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