Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs VOE: how they differ
USMV and VOE hold 0% of their weight in the same names, and VOE returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Vanguard Mid-Cap Value Index Fund.
What they hold in common
By the books each fund has filed, USMV and VOE hold 0% of their money in the same securities at the same weight.
| Only in USMV | Only in VOE |
|---|---|
| AMPHENOL CORP CLASS A 1.58% | Cummins Inc 1.71% |
| MICROSOFT 1.56% | Valero Energy Corp 1.34% |
| NVIDIA 1.54% | Marathon Petroleum Corp 1.29% |
| WELLTOWER 1.53% | CRH PLC 1.24% |
| CHUBB 1.49% | United Rentals Inc 1.23% |
| JOHNSON & JOHNSON 1.49% | General Motors Co 1.21% |
| VERIZON COMMUNICATIONS INC 1.49% | SLB Ltd 1.21% |
| EXXONMOBIL HOLDINGS CORP 1.48% | Simon Property Group Inc 1.20% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 10, 2026.
| USMV iShares MSCI USA Min Vol Factor ETF | VOE Vanguard Mid-Cap Value Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Vanguard |
| What it is | MSCI USA Min Vol Factor | Mid-Cap Value |
| Total return, 1 year | +6.6% | +20.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | +2.7 pts |
| Expense ratio | 0.15% | 0.05% |
| Already in the S&P 500 | 94.8% | 96.6% |
| Holdings | 175 | 170 |
USMV in plain words
USMV is an index equity fund tracking the MSCI USA Min Vol Factor. Over the year to Sep 11, 2026 it returned +6.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Sep 10, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 175 positions, with the top ten at 15.1%.
VOE in plain words
VOE is an index equity fund tracking the Mid-Cap Value. Over the year to Sep 11, 2026 it returned +20.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.05% a year. By its holdings filed for Jun 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 12.7%.
Questions people ask
- Which returned more over the last year, USMV or VOE?
- In the year to Sep 13, 2026, with distributions reinvested, USMV returned +6.6% and VOE returned +20.2%, so VOE returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or VOE?
- USMV charges 0.15% a year and VOE charges 0.05%, so VOE is cheaper. Fees come from each fund's prospectus.
- How much do USMV and VOE overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 97% of VOE by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, USMV against VOE, data as of Sep 13, 2026. https://etfiq.com/compare/any/usmv-vs-voe Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources