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SPUS vs USMV: Differences, Returns & Fees

SPUS and USMV hold 30% of their weight in the same names, and SPUS returned +21.9% over the year. Net assets: $2.7bn on May 31, 2026 for SP Funds S&P 500 Sharia Industry Exclusions ETF, and $23.8bn on Oct 9, 2026 for iShares MSCI USA Min Vol Factor ETF.

USMV costs 0.30 points a year less; their one-year returns differ by 14.4 points.

SPUSUSMV
Expense ratio0.45%0.15%
Net assets, SPUS as of May 31, 2026 and USMV as of Oct 9, 2026$2.7bn$23.8bn
Total return, 1 year+21.9%+7.5%
What it tracksnot read by ETFIQMSCI USA Minimum Volatility (USD) Index
Holdings in common30%
Top ten holdings, share of the fund57.9%15.0%

Holdings in common uses holdings dated May 31, 2026 and Oct 8, 2026.

+21.9%
SPUS total return, 1 year
+7.5%
USMV total return, 1 year
0.45%
SPUS expense ratio
0.15%
USMV expense ratio

What they hold in common

By the books each fund has filed, SPUS and USMV hold 30% 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 May 31, 2026 and Oct 8, 2026.

half

30% in common

Positions both hold, largest shared weight first
Holding SPUS USMV
Microsoft Corp 8.80% 1.63%
NVIDIA Corp 13.51% 1.60%
Exxon Mobil Corp 1.59% 1.49%
Johnson & Johnson 1.42% 1.42%
Cisco Systems Inc 1.25% 1.43%
Apple Inc 12.06% 0.97%
Broadcom Inc 5.58% 0.93%
Advanced Micro Devices Inc 2.20% 0.88%
Procter & Gamble Co/The 0.87% 1.07%
Micron Technology Inc 2.86% 0.80%
Eli Lilly & Co 2.29% 0.79%
Merck & Co Inc 0.77% 1.42%
Only in SPUS
Tesla Inc 3.21%
KLA Corp 0.67%
Thermo Fisher Scientific Inc 0.49%
Union Pacific Corp 0.42%
Intuitive Surgical Inc 0.40%
Prologis Inc 0.35%
Booking Holdings Inc 0.35%
Vertiv Holdings Co 0.32%
Only in USMV
AMPHENOL CORP CLASS A 1.65%
CHUBB 1.49%
BERKSHIRE HATHAWAY INC CLASS B 1.45%
MOTOROLA SOLUTIONS INC 1.41%
VERIZON COMMUNICATIONS INC 1.36%
DUKE ENERGY CORP 1.33%
SOUTHERN 1.30%
COCA-COLA 1.26%

Check overlap with more funds →

On the same fields

SPUS
SP Funds S&P 500 Sharia Industry Exclusions ETF
USMV
iShares MSCI USA Min Vol Factor ETF
Where it sits Stock ETF Stock ETF
Issuer SP Funds iShares
What it is Tracks an index Tracks the MSCI USA Min Vol Factor
Total return, 1 year +21.9% +7.5%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 +4.6 pts −9.7 pts
Expense ratio 0.45% 0.15%
Already in the S&P 500 99.7% 93.0%
Holdings 213 176
Net assets, SPUS as of May 31, 2026 and USMV as of Oct 9, 2026 $2.7bn $23.8bn

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

SPUS in plain words

SPUS tracks an index. Over the year to Oct 9, 2026 it returned +21.9% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.45% a year. By its holdings filed for May 31, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 213 positions, with the top ten at 57.9%.

USMV in plain words

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 9, 2026 it returned +7.5% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 8, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 15.0%.

Questions people ask

Which returned more over the last year, SPUS or USMV?
In the year to Oct 9, 2026, with distributions reinvested, SPUS returned +21.9% and USMV +7.5%.
Which is cheaper, SPUS or USMV?
USMV is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do SPUS and USMV overlap with the S&P 500?
By their latest filed holdings, 100% of SPUS and 93% of USMV by weight is stocks the S&P 500 already holds.
Other comparisons
IWV vs SPUSMTUM vs SPUSESGU vs SPUSDGRW vs SPUSEQWL vs USMVKLMN vs USMVGUSA vs USMVBDYN vs USMV
SPUS on its own →USMV on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
SPUS filings on SEC EDGAR ↗SPUS prospectus with the expense ratio (SEC) ↗SP Funds website ↗USMV filings on SEC EDGAR ↗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, SPUS against USMV, data as of Oct 9, 2026. https://etfiq.com/compare/any/spus-vs-usmv

Open data

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