Data as of Oct 28, 2026.
USMV vs VUG: Differences, Returns & Fees
Over the year to Oct 28, 2026, USMV returned +10.8% to VUG's +6.6%; 22% 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 $232.9bn on Sep 30, 2026 for Vanguard Morningstar Growth ETF.
Pair scorecard
VUG costs 0.12 points a year less; their one-year returns differ by 4.2 points; VUG is 10.0 times larger.
| Measure | USMV | VUG |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.8% | +6.6% |
| Drawdown | ||
| Below its high | 4.1%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | MSCI USA Minimum Volatility (USD) Index | Morningstar US Large Cap Growth Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, as of Sep 30, 2026 | $23.2bn | $232.9bn |
| Holdings | ||
| Holdings in common | 22% | |
| Top ten holdings, share of the fund | 14.8% | 63.1% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Oct 28, 2011 to Oct 23, 2026 · 782 weekly returnsVUG returned more: +843.2% to +423.5%. USMV swung less: 13.4% to 18.3%. USMV fell less at its worst: −30.6% to −35.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | USMV | VUG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +423.5% | +843.2% | VUG | Price change plus distributions, reinvested. |
| Annualized | +11.6% | +16.1% | VUG | Total return as a yearly rate. |
| Price return | +295.7% | +714.8% | VUG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.4% | 18.3% | USMV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.3% | 12.2% | USMV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −30.6% | −35.6% | USMV | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.76 | 0.82 | VUG (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.09 | 1.22 | VUG | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.38 | 0.45 | VUG | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 782 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, USMV and VUG hold 22% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
22% in common
Only in one fund ↓
Side by side
USMV and VUG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
USMV and VUG do different jobs. What does each one do in a portfolio?
- What each follows. USMV follows MSCI USA Minimum Volatility (USD) Index and VUG follows Morningstar US Large Cap Growth Index.
- Holdings in common. 22% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 USMV returned +10.8% and VUG +6.6% with distributions reinvested, a gap of 4.2 points.
Data as of Oct 28, 2026.
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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%.
VUG
VUG tracks an index of US growth. Over the year to Oct 28, 2026 it returned +6.6% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 137 positions, with the top ten at 63.1%. It sat 4.1% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, USMV or VUG?
- In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and VUG +6.6%.
- Which is cheaper, USMV or VUG?
- VUG 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.
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 VUG, data as of Oct 28, 2026. https://etfiq.com/compare/any/usmv-vs-vug
ETFIQ. (Oct 28, 2026). USMV against VUG. Retrieved from https://etfiq.com/compare/any/usmv-vs-vug
[USMV against VUG (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/usmv-vs-vug)
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