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TILT vs USMV: Differences, Returns & Fees

TILT and USMV hold 29% of their weight in the same names, and TILT returned +20.6% over the year. Net assets: $2.2bn on Jul 31, 2026 for Northern Trust Morningstar US Market Factor Tilt ETF, and $23.8bn on Oct 12, 2026 for iShares MSCI USA Min Vol Factor ETF.

USMV costs 0.10 points a year less; their one-year returns differ by 11.8 points; USMV is 10.8 times larger.

TILT vs USMV: Differences, Returns & Fees
TILTUSMV
Expense ratio0.25%0.15%
Net assets, as of Jul 31, 2026$2.2bn$23.6bn
Total return, 1 year+20.6%+8.8%
What it tracksMorningstar US Market Factor Tilt IndexMSCI USA Minimum Volatility (USD) Index
Holdings in common29%
Top ten holdings, share of the fund25.6%15.1%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 9, 2026.

+20.6%
TILT total return, 1 year
+8.8%
USMV total return, 1 year
0.25%
TILT expense ratio
0.15%
USMV expense ratio

What they hold in common

By the books each fund has filed, TILT and USMV hold 29% 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 Jul 31, 2026 and Oct 9, 2026.

half

29% in common

Positions both hold, largest shared weight first
Holding TILT USMV
Microsoft Corp. 3.56% 1.66%
NVIDIA Corp. 4.86% 1.59%
Berkshire Hathaway, Inc. 1.21% 1.46%
Apple, Inc. 4.67% 0.96%
Broadcom, Inc. 1.87% 0.93%
ExxonMobil Holdings Corp. 0.82% 1.49%
Advanced Micro Devices, Inc. 0.80% 0.86%
Eli Lilly & Co. 0.95% 0.79%
Micron Technology, Inc. 1.18% 0.79%
Johnson & Johnson 0.78% 1.44%
Visa, Inc. 0.63% 1.03%
Cisco Systems, Inc. 0.58% 1.47%
Only in TILT
Alphabet, Inc. 1.73%
JPMorgan Chase & Co. 1.22%
Tesla, Inc. 0.90%
Bank of America Corp. 0.52%
Applied Materials, Inc. 0.41%
Intel Corp. 0.41%
Caterpillar, Inc. 0.39%
GE Aerospace 0.39%
Only in USMV
WASTE CONNECTIONS 1.12%
TJX 0.96%
MCDONALDS CORP 0.94%
MARSH 0.83%
TRAVELERS COMPANIES 0.79%
TEXAS INSTRUMENT INC 0.74%
OREILLY AUTOMOTIVE INC 0.68%
APPLIED MATERIAL INC 0.63%

Check overlap with more funds →

On the same fields

TILT
Northern Trust Morningstar US Market Factor Tilt ETF
USMV
iShares MSCI USA Min Vol Factor ETF
Where it sits Stock ETF Stock ETF
Issuer Northern Trust iShares
What it is Tracks an index Tracks the MSCI USA Min Vol Factor
Total return, 1 year +20.6% +8.8%
Expense ratio 0.25% 0.15%
Already in the S&P 500 72.7% 93.0%
Holdings 1923 176
Net assets, TILT as of Jul 31, 2026 and USMV as of Oct 12, 2026 $2.2bn $23.8bn

TILT and USMV on the fields both publish, as of Oct 12, 2026. Source: ETFIQ.

About TILT

TILT tracks an index. Over the year to Oct 12, 2026 it returned +20.6% with distributions reinvested. The prospectus expense ratio is 0.25% a year. By its holdings filed for Jul 31, 2026, 73% of the fund by weight is stocks the S&P 500 also holds, across 1,923 positions, with the top ten at 25.6%.

About USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 12, 2026 it returned +8.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. 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, TILT or USMV?
In the year to Oct 12, 2026, with distributions reinvested, TILT returned +20.6% and USMV +8.8%.
Which is cheaper, TILT or USMV?
USMV is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do TILT and USMV overlap with the S&P 500?
By their latest filed holdings, 73% of TILT and 93% of USMV by weight is stocks the S&P 500 already holds.
Other comparisons
SPMO vs TILTRDVY vs TILTDFUS vs TILTOEF vs TILTFLQL vs USMVQDF vs USMVGSEW vs USMVFINA vs USMV
TILT on its own →USMV on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
TILT filings on SEC EDGAR ↗TILT prospectus with the expense ratio (SEC) ↗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, TILT against USMV, data as of Oct 12, 2026. https://etfiq.com/compare/any/tilt-vs-usmv

Open data

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