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

In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and VNQ +4.8%.

Which is cheaper, USMV or VNQ?

VNQ is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's prospectus.

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

By their latest filed holdings, 93% of USMV and 63% of VNQ by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

USMV vs VNQ: Differences, Returns & Fees

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Over the year to Oct 28, 2026, USMV returned +10.8% to VNQ's +4.8%; 2% of their weight is in the same names.

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Net assets: $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF, and $35.9bn on Sep 30, 2026 for Vanguard Real Estate ETF.

USMV on its own →VNQ on its own →

At a glance

+10.8%

USMV total return, 1 year

+4.8%

VNQ total return, 1 year

0.15%

USMV expense ratio

0.13%

VNQ expense ratio

Pair scorecard

VNQ costs 0.02 points a year less; their one-year returns differ by 6.0 points; VNQ is 1.5 times larger.

USMV vs VNQ: Differences, Returns & Fees
Measure	USMV	VNQ
Return
Measure	USMV	VNQ
Total return, 1 year	+10.8%	+4.8%
Drawdown
Measure	USMV	VNQ
Below its high		8.3%, high on Jul 28, 2026
Benchmark
Measure	USMV	VNQ
What it tracks	MSCI USA Minimum Volatility (USD) Index	MSCI US Investable Market Real Estate 25/50 Index
Cost and size
Measure	USMV	VNQ
Expense ratio	0.15%	0.13%
Net assets, as of Sep 30, 2026	$23.2bn	$35.9bn
Holdings
Measure	USMV	VNQ
Holdings in common	2%
Top ten holdings, share of the fund	14.8%	55.8%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

What they share

By the books each fund has filed, USMV and VNQ hold 2% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

50%

0 half 100%

half

2% in common

Positions both hold · largest shared weight first USMV VNQ

WELLTOWER 1.41% 9.12%

REALTY INCOME REIT 0.59% 2.85%

SUN COMMUNITIES REIT INC 0.19% 0.77%

VENTAS REIT 0.15% 2.34%

WEYERHAEUSER REIT 0.10% 0.78%

Only in one fund ↓

Only in USMV

MICROSOFT 1.61%

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%

NVIDIA 1.47%

JOHNSON & JOHNSON 1.44%

Only in VNQ

Vanguard Real Estate II Index Fund 14.51%

Prologis Inc 6.86%

Equinix Inc 5.65%

American Tower Corp 4.32%

Simon Property Group Inc 3.69%

Digital Realty Trust Inc 3.68%

Public Storage 2.69%

Vivmark Residential 2.46%

Check overlap with more funds →

Side by side

USMV iShares MSCI USA Min Vol Factor ETF VNQ Vanguard Real Estate ETF

Where it sits Stock ETF Stock ETF

Issuer iShares Vanguard

What it is Tracks the MSCI USA Min Vol Factor Tracks an index of US real estate

Total return, 1 year +10.8% +4.8%

Expense ratio 0.15% 0.13%

Already in the S&P 500 93.0% 62.8%

Holdings 176 141

Net assets, USMV as of Oct 27, 2026 and VNQ as of Sep 30, 2026 $24.1bn $35.9bn

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

Alert

About each fund

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%.

VNQ

VNQ tracks an index of US real estate. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.13% a year. By its holdings published by its issuer as of Sep 30, 2026, 63% of the fund by weight is stocks the S&P 500 also holds, across 141 positions, with the top ten at 55.8%. It sat 8.3% below its high of Jul 28, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, USMV or VNQ?: In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and VNQ +4.8%.
Which is cheaper, USMV or VNQ?: VNQ is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do USMV and VNQ overlap with the S&P 500?: By their latest filed holdings, 93% of USMV and 63% of VNQ by weight is stocks the S&P 500 already holds.

Other comparisons

SCHH vs USMV USMV vs XLRE IYR vs USMV USMV vs XLI CGGR vs VNQ DFUS vs VNQ MTUM vs VNQ DGRW vs VNQ

Where to next

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

Sources and dates

USMV filings on SEC EDGAR ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

VNQ filings on SEC EDGAR ↗

VNQ prospectus with the expense ratio (SEC) ↗

Vanguard page for VNQ ↗

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

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