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

In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and XLF +7.6%.

Which is cheaper, USMV or XLF?

XLF is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.

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

By their latest filed holdings, 93% of USMV and 100% of XLF by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

USMV vs XLF: Differences, Returns & Fees

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Over the year to Oct 28, 2026, USMV returned +10.8% to XLF's +7.6%; 12% of their weight is in the same names.

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Net assets on Oct 27, 2026: $24.1bn for iShares MSCI USA Min Vol Factor ETF and $51.6bn for State Street Financial Select Sector SPDR ETF.

USMV on its own →XLF on its own →

At a glance

+10.8%

USMV total return, 1 year

+7.6%

XLF total return, 1 year

0.15%

USMV expense ratio

0.08%

XLF expense ratio

Pair scorecard

XLF costs 0.07 points a year less; their one-year returns differ by 3.2 points; XLF is 2.1 times larger.

USMV vs XLF: Differences, Returns & Fees
Measure	USMV	XLF
Return
Measure	USMV	XLF
Total return, 1 year	+10.8%	+7.6%
Drawdown
Measure	USMV	XLF
Below its high		3.8%, high on Sep 3, 2026
Benchmark
Measure	USMV	XLF
What it tracks	MSCI USA Minimum Volatility (USD) Index	Financial Select Sector Index
Cost and size
Measure	USMV	XLF
Expense ratio	0.15%	0.08%
Net assets, as of Oct 27, 2026	$24.1bn	$51.6bn
Holdings
Measure	USMV	XLF
Holdings in common	12%
Top ten holdings, share of the fund	14.8%	57.4%

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

Risk and return

Oct 28, 2011 to Oct 23, 2026 · 782 weekly returns

USMV XLF

Return

Total return edge XLF +423.5% +545.5%

Annualized edge XLF +11.6% +13.2%

Price return edge Tie +295.7% +297.9%

Risk

Volatility edge USMV 13.4% 20.3%

Max drawdown edge USMV −30.6% −39.3%

Risk-adjusted

Sharpe edge USMV 0.76 0.63

Sortino edge USMV 1.09 0.92

Calmar edge USMV 0.38 0.34

Reading

XLF returned more: +545.5% to +423.5%. USMV swung less: 13.4% to 20.3%. USMV fell less at its worst: −30.6% to −39.3%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: USMV vs XLF: Differences, Returns & Fees
Measure	USMV	XLF	Edge	How it is measured
Return
Total return	+423.5%	+545.5%	XLF	Price change plus distributions, reinvested.
Annualized	+11.6%	+13.2%	XLF	Total return as a yearly rate.
Price return	+295.7%	+297.9%	Tie	Price change alone, distributions left out.
Risk
Volatility	13.4%	20.3%	USMV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	9.3%	13.9%	USMV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−30.6%	−39.3%	USMV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.76	0.63	USMV	Return above Treasury bills per unit of volatility.
Sortino	1.09	0.92	USMV	Return above Treasury bills per unit of downside deviation.
Calmar	0.38	0.34	USMV	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

12%

By the books each fund has filed, USMV and XLF hold 12% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

12% in common

Positions both hold · largest shared weight first USMV XLF

BERKSHIRE HATHAWAY INC CLASS B 1.50% 12.84%

CHUBB 1.50% 1.59%

MASTERCARD CLASS A 1.28% 6.26%

VISA CLASS A 1.05% 8.69%

BANK OF NEW YORK MELLON CORP 0.91% 1.27%

CME GROUP CLASS A 0.88% 1.34%

MARSH 0.87% 1.16%

TRAVELERS COMPANIES 0.83% 1.05%

PROGRESSIVE 0.70% 1.67%

ALLSTATE CORP 0.54% 0.81%

CBOE GLOBAL MARKETS 0.64% 0.43%

AON PLC CLASS A 0.39% 0.81%

Only in one fund ↓

Only in USMV

MICROSOFT 1.61%

EXXONMOBIL HOLDINGS CORP 1.54%

MOTOROLA SOLUTIONS INC 1.48%

AMPHENOL CORP CLASS A 1.47%

NVIDIA 1.47%

JOHNSON & JOHNSON 1.44%

MCKESSON CORP 1.43%

WELLTOWER 1.41%

Only in XLF

JPMORGAN CHASE + CO 11.33%

BANK OF AMERICA CORP 4.18%

GOLDMAN SACHS GROUP INC 3.37%

WELLS FARGO + CO 3.17%

MORGAN STANLEY 2.83%

CITIGROUP INC 2.61%

AMERICAN EXPRESS CO 2.09%

BLACKROCK INC 2.08%

Check overlap with more funds →

Side by side

USMV iShares MSCI USA Min Vol Factor ETF XLF State Street Financial Select Sector SPDR ETF

Where it sits Stock ETF Stock ETF

Issuer iShares State Street

What it is Tracks the MSCI USA Min Vol Factor Tracks an index of Financials

Total return, 1 year +10.8% +7.6%

Expense ratio 0.15% 0.08%

Already in the S&P 500 93.0% 99.8%

Holdings 176 77

Net assets, as of Oct 27, 2026 $24.1bn $51.6bn

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

Client brief · page 1 of 2 Report BR-C16581C569

USMV and XLF do different jobs. What does each one do in a portfolio?

What each follows. USMV follows MSCI USA Minimum Volatility (USD) Index and XLF follows Financial Select Sector Index.
Holdings in common. 12% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 USMV returned +10.8% and XLF +7.6% with distributions reinvested, a gap of 3.2 points.

Data as of Oct 28, 2026.

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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%.

XLF

XLF tracks an index of Financials. Over the year to Oct 28, 2026 it returned +7.6% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 77 positions, with the top ten at 57.4%. It sat 3.8% below its high of Sep 3, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, USMV or XLF?: In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and XLF +7.6%.
Which is cheaper, USMV or XLF?: XLF is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do USMV and XLF overlap with the S&P 500?: By their latest filed holdings, 93% of USMV and 100% of XLF by weight is stocks the S&P 500 already holds.

Other comparisons

KRE vs USMV USMV vs XLE USMV vs VNQ USMV vs XLI GRNY vs XLF CGGR vs XLF DFUS vs XLF MTUM vs XLF

Where to next

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

Sources and dates

USMV filings on SEC EDGAR ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

XLF filings on SEC EDGAR ↗

XLF prospectus with the expense ratio (SEC) ↗

State Street website ↗

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.

Cite this pageCitation, APA and Markdown

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

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