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USMV vs USPX: Differences, Returns & Fees

USMV and USPX hold 37% of their weight in the same names, and USPX returned +16.9% over the year. Net assets on Oct 9, 2026: $23.8bn for iShares MSCI USA Min Vol Factor ETF and $2.1bn for Franklin U.S. Equity Index ETF.

USPX costs 0.12 points a year less; their one-year returns differ by 9.4 points; USMV is 11.4 times larger.

USMV vs USPX: Differences, Returns & Fees
USMVUSPX
Expense ratio0.15%0.03%
Net assets$23.8bn$2.1bn
Total return, 1 year+7.5%+16.9%
What it tracksMSCI USA Minimum Volatility (USD) IndexLinked Morningstar US Target Market Exposure Index ††
Holdings in common37%
Top ten holdings, share of the fund15.1%36.2%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.

+7.5%
USMV total return, 1 year
+16.9%
USPX total return, 1 year
0.15%
USMV expense ratio
0.03%
USPX expense ratio

What they hold in common

By the books each fund has filed, USMV and USPX hold 37% 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 Jun 30, 2026 and Oct 9, 2026.

half

37% in common

Positions both hold, largest shared weight first
Holding USMV USPX
MICROSOFT 1.66% 4.31%
NVIDIA 1.59% 7.29%
BERKSHIRE HATHAWAY INC CLASS B 1.46% 1.44%
APPLE 0.96% 6.59%
JOHNSON & JOHNSON 1.44% 0.95%
BROADCOM INC 0.93% 2.73%
EXXONMOBIL HOLDINGS CORP 1.49% 0.88%
VISA CLASS A 1.03% 0.88%
ADVANCED MICRO DEVICES 0.86% 1.48%
ELI LILLY 0.79% 1.50%
MICRON TECHNOLOGY 0.79% 2.02%
CISCO SYSTEMS INC 1.47% 0.72%
Only in USMV
WASTE CONNECTIONS 1.12%
CBOE GLOBAL MARKETS 0.62%
UNITED THERAPEUTICS 0.42%
NEUROCRINE BIOSCIENCES 0.41%
VYLOR 0.25%
GEN DIGITAL 0.22%
TRADEWEB MARKETS INC CLASS A 0.15%
SAMSARA CLASS A 0.11%
Only in USPX
ALPHABET INC 3.25%
TESLA INC 1.84%
JP MORGAN CHASE & COMPANY 1.37%
INTEL CORP 0.94%
CATERPILLAR INC 0.76%
KLA CORP 0.61%
GE AEROSPACE 0.61%
BANK OF AMERICA CORP 0.58%

Check overlap with more funds →

On the same fields

USMV
iShares MSCI USA Min Vol Factor ETF
USPX
Franklin U.S. Equity Index ETF
Where it sits Stock ETF Stock ETF
Issuer iShares Franklin
What it is Tracks the MSCI USA Min Vol Factor Tracks an index
Total return, 1 year +7.5% +16.9%
Its benchmark over the same days not published +16.9% (BBUS)
Gap to its benchmark not available 0.0 pts vs BBUS
Expense ratio 0.15% 0.03%
Already in the S&P 500 93.0% 97.9%
Holdings 176 468
Net assets $23.8bn $2.1bn

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

About USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 9, 2026 it returned +7.5% 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%.

About USPX

USPX tracks an index. Over the year to Oct 9, 2026 it returned +16.9% with distributions reinvested, against +16.9% for its benchmark, the Linked Morningstar US Target Market Exposure Index ††. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 468 positions, with the top ten at 36.2%.

Questions people ask

Which returned more over the last year, USMV or USPX?
In the year to Oct 9, 2026, with distributions reinvested, USMV returned +7.5% and USPX +16.9%.
Which is cheaper, USMV or USPX?
USPX is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do USMV and USPX overlap with the S&P 500?
By their latest filed holdings, 93% of USMV and 98% of USPX by weight is stocks the S&P 500 already holds.
Other comparisons
LCAP vs USMVSFLR vs USMVIWL vs USMVEUSA vs USMVCGDV vs USPXDYNF vs USPXDIA vs USPXSPMO vs USPX
USMV on its own →USPX on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
USMV filings on SEC EDGAR ↗USMV prospectus with the expense ratio (SEC) ↗iShares page for USMV ↗USPX filings on SEC EDGAR ↗USPX prospectus with the expense ratio (SEC) ↗Franklin website ↗

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, USMV against USPX, data as of Oct 9, 2026. https://etfiq.com/compare/any/usmv-vs-uspx

Open data

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