USMV vs VOO
USMV vs VOO
iShares MSCI USA Minimum Volatility Factor ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | USMV | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $23.5B | $979.0B | |
| Dividend Yield | 1.50% | 1.09% | |
| Holdings | 170 | 509 | |
| YTD Return | +6.89% | +13.31% | |
| 1Y Return | +9.00% | +24.01% | |
| 3Y Return (annualized) | +11.72% | +21.17% | |
| 5Y Return (annualized) | +7.10% | +13.34% | |
| Volatility (annualized) | 11.2% | 14.1% | |
| Max Drawdown | -33.1% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Oct 18, 2011 | Sep 7, 2010 |
USMV vs VOO Performance
iShares MSCI USA Minimum Volatility Factor ETF (USMV) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year USMV returned +9.00% while VOO returned +24.01%. Year to date, USMV is up 6.89% versus a gain of 13.31% for VOO.
Over three years, USMV compounded at +11.72% per year against +21.17% for VOO; over five years the annualized figures are +7.10% and +13.34% respectively. Across the full 15-year window we track, VOO has the edge at +13.55% annualized vs +10.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -33.1% for USMV and -34.3% for VOO. 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
USMV charges 0.15% per year while VOO charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, USMV currently yields 1.50% against 1.09% for VOO.
Holdings Overlap
USMV and VOO share 145 holdings out of 527 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 USMV | Weight in VOO | Difference |
|---|---|---|---|
| NVDA | 1.29% | 7.51% | 6.22% |
| AAPL | 0.91% | 6.59% | 5.68% |
| MSFT | 1.35% | 4.30% | 2.95% |
| AVGO | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
See all 10 holdings USMV shares with VOO 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, USMV or VOO?
USMV has an expense ratio of 0.15% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, USMV or VOO?
Over the past year USMV returned +9.00% vs +24.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (15 years), USMV annualized +10.33% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, USMV or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 11.2% for USMV. Worst drawdown: USMV -33.1% vs VOO -34.3%.
Should I hold both USMV and VOO?
USMV and VOO 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 USMV and VOO?
USMV and VOO share 145 common holdings with a 33.3% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, USMV or VOO?
USMV yields 1.50% while VOO yields 1.09%, so USMV currently pays the higher dividend yield.
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