Data as of Oct 28, 2026.

vsCompare their flowsaskIQ about these two fundsAsk the committee about these two funds
Across categories

USMV vs XLV: Differences, Returns & Fees

Share
Share on XDownload as PDF

Over the year to Oct 28, 2026, USMV returned +10.8% to XLV's +25.6%; 12% of their weight is in the same names.

askIQ about this page

askIQ about USMV and XLV

Net assets on Oct 27, 2026: $24.1bn for iShares MSCI USA Min Vol Factor ETF and $47.0bn for State Street Health Care Select Sector SPDR ETF.

At a glance
+10.8%
USMV total return, 1 year
+25.6%
XLV total return, 1 year
0.15%
USMV expense ratio
0.08%
XLV expense ratio

Pair scorecard

XLV costs 0.07 points a year less; their one-year returns differ by 14.8 points; XLV is 2.0 times larger.

USMV vs XLV: Differences, Returns & Fees
MeasureUSMVXLV
Return
Total return, 1 year+10.8%+25.6%
Benchmark
What it tracksMSCI USA Minimum Volatility (USD) IndexHealth Care Select Sector Index
Cost and size
Expense ratio0.15%0.08%
Net assets, as of Oct 27, 2026$24.1bn$47.0bn
Holdings
Holdings in common12%
Top ten holdings, share of the fund14.8%60.6%

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

Risk and return

Oct 28, 2011 to Oct 23, 2026 · 782 weekly returns
USMV XLV
Return
Total return edge XLV +423.5% +573.5%
Annualized edge XLV +11.6% +13.5%
Price return edge XLV +295.7% +424.1%
Risk
Volatility edge USMV 13.4% 15.8%
Max drawdown edge XLV −30.6% −24.3%
Risk-adjusted
Sharpe edge Tie 0.76 0.77
Sortino edge XLV (slight) 1.09 1.13
Calmar edge XLV 0.38 0.56
Reading

XLV returned more: +573.5% to +423.5%. USMV swung less: 13.4% to 15.8%. XLV fell less at its worst: −24.3% to −30.6%.

Full scorecard

9 measures, with how each is measured
Open ↓
Risk and return: USMV vs XLV: Differences, Returns & Fees
MeasureUSMVXLVEdgeHow it is measured
Return
Total return+423.5%+573.5%XLVPrice change plus distributions, reinvested.
Annualized+11.6%+13.5%XLVTotal return as a yearly rate.
Price return+295.7%+424.1%XLVPrice change alone, distributions left out.
Risk
Volatility13.4%15.8%USMVSpread of weekly returns, annualized. Lower is steadier.
Downside deviation9.3%10.8%USMVLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−30.6%−24.3%XLVDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.760.77TieReturn above Treasury bills per unit of volatility.
Sortino1.091.13XLV (slight)Return above Treasury bills per unit of downside deviation.
Calmar0.380.56XLVAnnualized 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 XLV hold 12% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

12% in common

Positions both hold · largest shared weight first USMV XLV
JOHNSON & JOHNSON 1.44% 9.96%
MCKESSON CORP 1.43% 1.73%
MERCK & CO INC 1.37% 5.38%
VERTEX PHARMACEUTICALS 1.34% 2.03%
CENCORA 1.25% 0.95%
GILEAD SCIENCES 0.91% 3.03%
ELI LILLY 0.84% 15.77%
ABBVIE 0.78% 7.78%
ABBOTT LABORATORIES 0.70% 2.74%
CENTENE CORP 0.47% 0.52%
UNITEDHEALTH GROUP 0.40% 5.66%
AMGEN INC 0.37% 3.72%
Only in one fund ↓
Only in USMV
MICROSOFT 1.61%
EXXONMOBIL HOLDINGS CORP 1.54%
BERKSHIRE HATHAWAY INC CLASS B 1.50%
CHUBB 1.50%
MOTOROLA SOLUTIONS INC 1.48%
AMPHENOL CORP CLASS A 1.47%
NVIDIA 1.47%
WELLTOWER 1.41%
Only in XLV
THERMO FISHER SCIENTIFIC INC 3.94%
PFIZER INC 2.61%
INTUITIVE SURGICAL INC 2.42%
DANAHER CORP 2.23%
BRISTOL MYERS SQUIBB CO 1.93%
CVS HEALTH CORP 1.79%
STRYKER CORP 1.62%
MODERNA INC 1.19%
Check overlap with more funds →

Side by side

USMV iShares MSCI USA Min Vol Factor ETF XLV State Street Health Care Select Sector SPDR ETF
Where it sits Stock ETF Stock ETF
What it is Tracks the MSCI USA Min Vol Factor Tracks an index of Health care
Total return, 1 year +10.8% +25.6%
Expense ratio 0.15% 0.08%
Already in the S&P 500 93.0% 99.7%
Holdings 176 62
Net assets, as of Oct 27, 2026 $24.1bn $47.0bn

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

Client brief · page 1 of 2 Report BR-F730FF157A

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

  1. What each follows. USMV follows MSCI USA Minimum Volatility (USD) Index and XLV follows Health Care Select Sector Index.
  2. Holdings in common. 12% of the weight is in the same securities (holdings dated Oct 27, 2026).
  3. One-year total return. Over 1 year to Oct 28, 2026 USMV returned +10.8% and XLV +25.6% with distributions reinvested, a gap of 14.8 points.

Data as of Oct 28, 2026.

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

USMV and XLV flows, by email on Sundays.

One-click unsubscribe. See Privacy.

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%.

XLV

XLV tracks an index of Health care. Over the year to Oct 28, 2026 it returned +25.6% 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 62 positions, with the top ten at 60.6%.

Questions people ask

Which returned more over the last year, USMV or XLV?
In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and XLV +25.6%.
Which is cheaper, USMV or XLV?
XLV 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 XLV overlap with the S&P 500?
By their latest filed holdings, 93% of USMV and 100% of XLV by weight is stocks the S&P 500 already holds.
Other comparisons
Cite this pageCitation, APA and Markdown

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

Open data →

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