IVV vs USMV
IVV vs USMV
iShares Core S&P 500 ETF vs iShares MSCI USA Minimum Volatility Factor ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | USMV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.15% | |
| AUM | $865.2B | $23.5B | |
| Dividend Yield | 1.09% | 1.50% | |
| Holdings | 508 | 170 | |
| YTD Return | +9.93% | +5.00% | |
| 1Y Return | +19.59% | +7.03% | |
| 3Y Return (annualized) | +19.41% | +10.93% | |
| 5Y Return (annualized) | +12.89% | +6.85% | |
| Volatility (annualized) | 15.1% | 11.2% | |
| Max Drawdown | -56.5% | -33.1% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Oct 18, 2011 |
IVV vs USMV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and iShares MSCI USA Minimum Volatility Factor ETF (USMV) is a ETF from iShares by BlackRock (US). Over the past year IVV returned +19.59% while USMV returned +7.03%. Year to date, IVV is up 9.93% versus a gain of 5.00% for USMV.
Over three years, IVV compounded at +19.41% per year against +10.93% for USMV; over five years the annualized figures are +12.89% and +6.85% respectively. Across the full 15-year window we track, USMV has the edge at +10.21% annualized vs +6.91%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 11.2% for USMV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -33.1% for USMV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while USMV charges 0.15%. On a $10,000 position that is $3 vs $15 annually, a gap of $12 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.50% for USMV.
Holdings Overlap
IVV and USMV share 147 holdings out of 525 unique holdings combined, representing a 33.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in USMV | Difference |
|---|---|---|---|
| NVDA | 7.76% | 1.29% | 6.47% |
| AAPL | 7.44% | 0.91% | 6.53% |
| MSFT | 4.57% | 1.35% | 3.22% |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings IVV shares with USMV Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, IVV or USMV?
IVV has an expense ratio of 0.03% while USMV charges 0.15%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, IVV or USMV?
Over the past year IVV returned +19.59% vs +7.03% for USMV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), IVV annualized +6.91% vs +10.21% for USMV. Past performance does not guarantee future results.
Which is riskier, IVV or USMV?
IVV has been the more volatile fund at 15.1% annualized versus 11.2% for USMV. Worst drawdown: IVV -56.5% vs USMV -33.1%.
Should I hold both IVV and USMV?
IVV and USMV have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and USMV?
IVV and USMV share 147 common holdings with a 33.3% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, IVV or USMV?
IVV yields 1.09% while USMV yields 1.50%, so USMV currently pays the higher dividend yield.
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