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USMV vs VOTE: Differences, Returns & Fees

USMV and VOTE hold 34% of their weight in the same names, and VOTE returned +17.4% over the year. Net assets: $23.8bn on Oct 9, 2026 for iShares MSCI USA Min Vol Factor ETF, and $1.1bn on Jul 31, 2026 for TCW Transform 500 ETF.

VOTE costs 0.10 points a year less; their one-year returns differ by 9.9 points; USMV is far larger, $23.6bn against $1.1bn.

USMV vs VOTE: Differences, Returns & Fees
USMVVOTE
Expense ratio0.15%0.05%
Net assets, as of Jul 31, 2026$23.6bn$1.1bn
Total return, 1 year+7.5%+17.4%
What it tracksMSCI USA Minimum Volatility (USD) IndexMorningstar US Large Cap Select Index?
Holdings in common34%
Top ten holdings, share of the fund15.1%37.1%

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

+7.5%
USMV total return, 1 year
+17.4%
VOTE total return, 1 year
0.15%
USMV expense ratio
0.05%
VOTE expense ratio

What they hold in common

By the books each fund has filed, USMV and VOTE hold 34% 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

34% in common

Positions both hold, largest shared weight first
Holding USMV VOTE
MICROSOFT 1.66% 5.32%
NVIDIA 1.59% 7.25%
BERKSHIRE HATHAWAY INC CLASS B 1.46% 1.46%
EXXONMOBIL HOLDINGS CORP 1.49% 1.00%
APPLE 0.96% 6.99%
JOHNSON & JOHNSON 1.44% 0.95%
VISA CLASS A 1.03% 0.94%
BROADCOM INC 0.93% 2.79%
ADVANCED MICRO DEVICES 0.86% 1.20%
ELI LILLY 0.79% 1.42%
MICRON TECHNOLOGY 0.79% 1.43%
MASTERCARD CLASS A 1.27% 0.72%
Only in USMV
WASTE CONNECTIONS 1.12%
TJX 0.96%
MARSH 0.83%
TRAVELERS COMPANIES 0.79%
TEXAS INSTRUMENT INC 0.74%
OREILLY AUTOMOTIVE INC 0.68%
F5 0.66%
APPLIED MATERIAL INC 0.63%
Only in VOTE
ALPHABET INC-CL A 3.21%
JPMORGAN CHASE & CO 1.46%
TESLA INC 1.35%
BANK OF AMERICA CORP 0.63%
APPLIED MATERIALS INC 0.62%
INTEL CORP 0.60%
GENERAL ELECTRIC 0.58%
CATERPILLAR INC 0.58%

Check overlap with more funds →

On the same fields

USMV
iShares MSCI USA Min Vol Factor ETF
VOTE
TCW Transform 500 ETF
Where it sits Stock ETF Stock ETF
Issuer iShares TCW
What it is Tracks the MSCI USA Min Vol Factor Tracks an index
Total return, 1 year +7.5% +17.4%
Expense ratio 0.15% 0.05%
Already in the S&P 500 93.0% 96.3%
Holdings 176 506
Net assets, USMV as of Oct 9, 2026 and VOTE as of Jul 31, 2026 $23.8bn $1.1bn

USMV and VOTE 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 VOTE

VOTE tracks an index. Over the year to Oct 9, 2026 it returned +17.4% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings filed for Jul 31, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 37.1%.

Questions people ask

Which returned more over the last year, USMV or VOTE?
In the year to Oct 9, 2026, with distributions reinvested, USMV returned +7.5% and VOTE +17.4%.
Which is cheaper, USMV or VOTE?
VOTE 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 USMV and VOTE overlap with the S&P 500?
By their latest filed holdings, 93% of USMV and 96% of VOTE by weight is stocks the S&P 500 already holds.
Other comparisons
IYZ vs USMVDSPY vs USMVMODL vs USMVEFIV vs USMVDIA vs VOTESPMO vs VOTERDVY vs VOTEDFUS vs VOTE
USMV on its own →VOTE 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 ↗VOTE filings on SEC EDGAR ↗VOTE prospectus with the expense ratio (SEC) ↗TCW 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 VOTE, data as of Oct 9, 2026. https://etfiq.com/compare/any/usmv-vs-vote

Open data

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