ETF Versus

USMV vs VOO

iShares MSCI USA Min Vol Factor ETF vs Vanguard S&P 500 ETF

Last updated: 2026-04-02

iShares MSCI USA Min Vol Factor ETF (USMV) is an exchange-traded fund that provides exposure to us factor - min volatility securities. It charges a low expense ratio of 0.15%. The fund offers a moderate dividend yield of 1.59%. Launched in 2011, the fund has a 15-year track record.

AUM: $22.2B ER: 0.15% Yield: 1.59% Since: Oct 18, 2011
VOO Vanguard

Vanguard S&P 500 ETF (VOO) is an exchange-traded fund issued by Vanguard that provides exposure to large-cap U.S. equities across growth and value styles. It charges a very low expense ratio of 0.03%. The fund offers a moderate dividend yield of 1.18%. Launched in 2010, the fund has a 16-year track record.

AUM: $792.0B ER: 0.03% Yield: 1.18% Since: Sep 7, 2010

Quick Verdict

VOO is significantly cheaper at 0.03% vs 0.15% expense ratio, saving you approximately $238 per $10,000 invested over 10 years. Over the past year, VOO has significantly outperformed with a 16.8% return vs -1.0%.

Key Metrics

Metric USMV VOO
Expense Ratio 0.15% 0.03%
Dividend Yield 1.6% 1.2%
Fund Family N/A Vanguard
Category US Factor - Min Volatility US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

85 103 121 139 157 175 2021-04 2022-06 2023-09 2024-12 2026-04
USMV +31.4%
VOO +61.3%

Performance Comparison

Period USMV VOO Difference
1 Month -5.13% -4.59% -0.54%
3 Months -1.05% -4.14% +3.09%
6 Months -2.61% -2.11% -0.50%
YTD -1.05% -4.14% +3.09%
1 Year -0.98% +16.77% -17.75%
3 Years +26.89% +59.52% -32.63%
5 Years +31.37% +61.27% -29.90%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period USMV Fees VOO Fees You Save
$10.000 10 years $298 $60 $238
$10.000 20 years $1.278 $258 $1.020
$10.000 30 years $4.109 $835 $3.274
$50.000 10 years $1.490 $299 $1.190
$50.000 30 years $20.547 $4.176 $16.371
$100.000 30 years $41.094 $8.352 $32.742

Risk Metrics

Based on 5 years of daily returns

Metric USMV VOO
Annualized Volatility 12.4% 16.8%
Max Drawdown -18.9% -25.4%
Sharpe Ratio 0.14 0.39

Dividend Comparison

Metric USMV VOO
Annual Dividend (per share) $1.47 $7.13
Dividend Yield 1.59% 1.18%
Distribution Frequency Quarterly Quarterly

Top Holdings

1 of top 9 holdings overlap (11% overlap in top holdings)

USMV Top Holdings

NameWeight
Exxon Mobil CorporationXOM1.84%
Cisco Systems, Inc.CSCO1.63%
Verizon Communications Inc.VZ1.61%
Duke Energy CorporationDUK1.61%
The Southern CompanySO1.57%
Johnson & JohnsonJNJ1.55%
Chubb LimitedCB1.51%
Motorola Solutions, Inc.MSI1.50%
Waste Management, Inc.WM1.48%
Berkshire Hathaway Inc.BRK.B1.45%

VOO Top Holdings

NameWeight
NVIDIA CorporationNVDA7.31%
Apple Inc.AAPL6.63%
Microsoft CorporationMSFT4.96%
Amazon.com, Inc.AMZN3.47%
Broadcom Inc.AVGO2.56%
Alphabet Inc.GOOG2.46%
Meta Platforms, Inc.META2.40%
Tesla, Inc.TSLA1.92%
Berkshire Hathaway Inc.BRK.B1.57%

Which One Should You Choose?

Choose VOO if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose VOO if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose USMV if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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