Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
USMV vs XLG: how they differ
USMV and XLG hold 0% of their weight in the same names, and XLG returned more over the year.
iShares MSCI USA Min Vol Factor ETF and Invesco S&P 500 Top 50 ETF.
What they hold in common
By the books each fund has filed, USMV and XLG hold 0% of their money in the same securities at the same weight.
| Only in USMV | Only in XLG |
|---|---|
| AMPHENOL CORP CLASS A 1.58% | NVIDIA Corp 12.79% |
| MICROSOFT 1.56% | Apple Inc 11.58% |
| NVIDIA 1.54% | Microsoft Corp 8.83% |
| WELLTOWER 1.53% | Amazon.com Inc 5.95% |
| CHUBB 1.49% | Alphabet Inc 4.71% |
| JOHNSON & JOHNSON 1.49% | Broadcom Inc 4.12% |
| VERIZON COMMUNICATIONS INC 1.49% | Alphabet Inc 3.77% |
| EXXONMOBIL HOLDINGS CORP 1.48% | Meta Platforms Inc 3.42% |
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 Sep 10, 2026.
| USMV iShares MSCI USA Min Vol Factor ETF | XLG Invesco S&P 500 Top 50 ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Invesco |
| What it is | MSCI USA Min Vol Factor | S&P 500 top 50 |
| Total return, 1 year | +6.6% | +12.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −10.9 pts | −5.3 pts |
| Expense ratio | 0.15% | 0.20% |
| Already in the S&P 500 | 94.8% | 100.0% |
| Holdings | 175 | 52 |
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%.
XLG in plain words
XLG is an index equity fund tracking the S&P 500 top 50. Over the year to Sep 11, 2026 it returned +12.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.20% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 60.3%.
Questions people ask
- Which returned more over the last year, USMV or XLG?
- In the year to Sep 13, 2026, with distributions reinvested, USMV returned +6.6% and XLG returned +12.2%, so XLG returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, USMV or XLG?
- USMV charges 0.15% a year and XLG charges 0.20%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do USMV and XLG overlap with the S&P 500?
- By their latest filed holdings, 95% of USMV and 100% of XLG 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.
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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 XLG, data as of Sep 13, 2026. https://etfiq.com/compare/any/usmv-vs-xlg Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources