EUSA vs USEW: Grades, Fees and Holdings Compared

iShares MSCI USA Equal Weighted ETF

EUSAANYSE Arca

Cambria US EW ETF

USEWDCboe

Overlap

44.1%by weight

Expense ratio

EUSA −0.21pt a year

EUSA0.09%USEW0.30%

Avg volume · 30D

EUSA 92.2×the volume

EUSA78.8KUSEW855

EUSA vs USEW Performance

Dec 31, 2025 – Nov 2, 2026

+13.1%EUSA+10.7%USEW

Expense ratio: EUSA 0.09%, better; USEW 0.30%
Fund size: EUSA $1.89B; USEW $189M
1Y total return: EUSA +14.6%; USEW No data
Yield (12M): EUSA 1.39%; USEW No data
Holdings: EUSA 518; USEW 428
Avg volume (30D): EUSA 78.8K sh, better; USEW 855 sh
NAV per share: EUSA $115.27; USEW $55.84
52W range

ETF.net Grade

Pillar letters and Scores for EUSA, USEW, with each pillar’s weight
Pillar	EUSA	USEW
Cost30% weight	A88Higher	F21
Mission25% weight	A100	Not scored
Risk15% weight	C44Higher	D33
Tradability15% weight	A73Higher	F8
Holdings10% weight	A81Higher	C52
Durability5% weight	A78Higher	D36

Rank among US Equal Weight funds

How we build Categories ›

Same Category. EUSA and USEW are both graded against the same 9 US Equal Weight funds, so their Grades compare head to head.

US Equal Weight⁠

Category · 9 funds

See all 9 ›

EUSA ranks 1st and USEW 9th of 9 funds in the US Equal Weight Category.

Rank 1AEUSAiShares MSCI USA Equal Weighted ETFScore 81
Rank 2AGSEWGoldman Sachs Equal Weight U.S. Large Cap Equity ETFScore 78
Rank 8CEDOWFirst Trust Dow 30 Equal Weight ETFScore 44
Rank 9DUSEWCambria US EW ETFScore 25

Our read on each fund

ETF.net Research

EUSAAiShares MSCI USA Equal Weighted ETF

USEWDCambria US EW ETF

In short

EUSA Equal weight, iShares style: each of roughly 500 large and mid cap US stocks gets the same slice, so the megacaps stop running the show. Around since 2010 and priced at 0.09%, less than half what the typical equal-weight fund charges.

USEW Cambria's swing at equal weight: roughly 400 US stocks, each given a comparable slot, with plain capital appreciation as the stated goal. A boutique newcomer in a corner of the market ruled by cheap index giants.

Stated mandate

EUSA The fund seeks to track an index composed of equally weighted U.S. stocks.

USEW The Fund seeks capital appreciation.

Why people hold it

EUSA 0.09% a year against a 0.20% median for equal-weight US funds, and nothing in the peer group undercuts it (GSEW matches).
Every holding gets the same slice, about 500 of them, so no handful of giants sets the tone the way it does in a cap-weighted US index.ishares.com
Live since 2010, a multi-billion-dollar fund, and it has hugged the MSCI USA Equal Weighted Index closely, one of the tightest jobs in its peer group.

USEW Equal weighting means the smallest name in the book gets a slot comparable to the largest, so mega-cap concentration is diluted instead of inherited.
About 400 holdings, so no single story stock carries the fund.
The mandate is written down: at least 80% of net assets plus borrowings in US company securities, inside a standard 1940 Act fund wrapper.
Distributions run on a quarterly cadence, and the objective is refreshingly unfussy: capital appreciation.

Worth knowing

EUSA Equal weighting tilts the portfolio toward mid caps, so its path can diverge widely from a standard cap-weighted US index in either direction.
Moderately traded rather than a category volume leader, so spreads and execution deserve attention on larger orders.
Income arrives quarterly, not monthly.

USEW At 0.30% a year it sits above the 0.20% typical of equal-weight peers, and well above the 0.09% charged by GSEW and EUSA.
It trades lightly next to the category's heavyweights, so the spread you pay can matter more than the expense ratio.
Launched in December 2025, so there is no long record here yet, and no full market cycle to judge the approach against.

Full EUSA profile⁠

Full USEW profile⁠

EUSA vs USEW Holdings

How EUSA and USEW differ

Overlap by weight

44.1%

Shared holdings make up 71.8% of EUSA and 63.1% of USEW.

Level by level

Holdings366 in both44.1%
Countryby domicile98.9%
Asset classEquity100%

Sector

No Sector split for USEW.

Country, concentration and asset class

Country by domicile

Country weights in EUSA and USEW, widest gap first
Country	More in EUSAMore in USEW	EUSA	USEW
United States	USEW +0.7 points	97.8%	98.5%
Other countries (16)	EUSA +0.7 points	2.2%	1.5%

Concentration

Weight in the 10 largest Holdings

EUSA2.6%
USEW22.4%

Securities held

EUSA515
USEW427

Asset class

EUSA: Equity
USEW: Equity

Holdings

Only in EUSA149
In both366
Only in USEW61

Only in EUSA

149 securities, 28.1% of EUSA by weight

Ptc0.26%
Ulta Beauty Inc0.24%
Cboe Global Markets0.24%
Tradeweb Markets Inc Class A0.24%
Crown Castle Inc0.24%
West Pharmaceutical Services0.24%
Keurig Dr Pepper Inc0.23%
Illumina Inc0.23%
Sharkninja0.23%
Biogen0.23%
Nxp Semiconductors NV0.23%
United Therapeutics0.23%
Everest Group0.23%
Cdw0.22%
Fortive0.22%
Echostar Class A0.22%
Atlassian Corp Class A0.22%
Dow0.22%
Reliance Steel & Aluminum0.22%
Royalty Pharma PLC Class A0.22%
Waste Connections0.22%
Steel Dynamics Inc0.22%
First Citizens Bancshares Class A0.22%
Dollar General Corp0.22%
Samsara Class A0.22%
Masco0.22%
American Tower Reit0.22%
Entegris Inc0.22%
Best Buy0.21%
Corebridge Financial Inc0.21%
Expeditors International of Washin0.21%
Wr Berkley0.21%
Gen Digital0.21%
Global Payments Inc0.21%
Sunbelt Rentals Holdings Inc0.21%
Skyworks Solutions0.21%
Ppg Industries0.21%
Jacobs Solutions Inc0.21%
Williams Sonoma Inc0.21%
Te Connectivity PLC0.21%
Nordson0.21%
Lyondellbasell Industries Class A0.21%
American Water Works0.21%
Hewlett Packard Enterprise0.21%
Cf Industries Holdings Inc0.21%
Netapp Inc0.21%
Sba Communications Reit Corp Class0.21%
Extra Space Storage Reit0.21%
Teledyne Technologies0.20%
Constellation Brands Class A0.20%

Only in USEW

61 securities, 36.9% of USEW by weight

Invesco S&P 500 Low Volatility ETF6.37%
iShares Russell 1000 Value ETF2.08%
Fidelity Value Factor ETF2.04%
State Street SPDR S&P 500 ETF Trust2.03%
Invesco S&P 500 Equal Weight ETF1.85%
State Street SPDR S&P 400 Mid Cap Value ETF1.83%
Vanguard S&P 500 ETF1.52%
Vanguard Morningstar Value ETF1.34%
ProShares S&P 500 Dividend Aristocrats ETF1.12%
Vanguard Morningstar Total Stock Market ETF1.01%
iShares Core S&P 500 ETF1.01%
iShares Core Dividend Growth ETF0.94%
iShares Russell 2000 ETF0.92%
Invesco S&P Global Water Index ETF0.87%
Fidelity Blue Chip Growth ETF0.83%
Ishares Core Us Value Etf0.75%
Invesco RAFI US 1000 ETF0.74%
Vanguard Morningstar Growth ETF0.69%
Schwab U.S. Large-Cap Growth ETF0.66%
Invesco Large Cap Growth ETF0.65%
Vanguard Information Technology ETF0.58%
JPMorgan US Quality Factor ETF0.56%
Invesco QQQ Trust Series 10.52%
Accel Entertainment Inc0.50%
First Trust Value Line Dividend Index Fund0.48%
First Trust RBA American Industrial Renaissance ETF0.39%
iShares Russell 1000 Growth ETF0.39%
Cambria Tax Aware ETF0.38%
Shopify Inc0.35%
iShares MSCI USA Momentum Factor ETF0.33%
Dimensional US Marketwide Value ETF0.32%
iShares Core S&P Mid-Cap ETF0.31%
iShares MSCI USA Min Vol Factor ETF0.31%
Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Quality Etf0.28%
HF Sinclair Corp0.27%
Spotify Technology SA0.22%
FT Energy Income Partners Enhanced Income Etf0.19%
Golar LNG Ltd0.15%
First American Government Obligations Fund 12/01/20310.14%
NU Holdings Ltd/Cayman Islands0.14%
Anglogold Ashanti Plc0.14%
Coupang Inc0.13%
Ralph Lauren Corp0.13%
Evercore Inc0.09%
Tyler Technologies Inc0.07%
Graco Inc0.05%
Albemarle Corp0.04%
MKS Inc0.04%
Trade Desk Inc/The0.03%
Ubiquiti Inc0.02%

Weight gaps

The 100 widest of 366 Holdings in both funds.

Holding weights in EUSA and USEW, widest gap first
Holding	More in EUSAMore in USEW	EUSA	USEW
AppleAAPL	USEW +1.61 points	0.22%	1.83%
Berkshire Hathaway Inc Class BBRK.B	USEW +1.34 points	0.22%	1.56%
MicrosoftMSFT	USEW +1.06 points	0.22%	1.28%
JPMorgan Chase & CoJPM	USEW +0.87 points	0.19%	1.06%
NVIDIANVDA	USEW +0.82 points	0.19%	1.01%
Thermo Fisher ScientificTMO	USEW +0.78 points	0.23%	1.01%
Amazon.com IncAMZN	USEW +0.74 points	0.18%	0.92%
Broadcom IncAVGO	USEW +0.73 points	0.18%	0.91%
Alphabet Class CGOOG	USEW +0.70 points	0.07%	0.77%
Meta Platforms Class AMETA	USEW +0.58 points	0.23%	0.81%
Mastercard Class AMA	USEW +0.49 points	0.22%	0.71%
Dell Technologies Inc Class CDELL	USEW +0.46 points	0.20%	0.66%
Starbucks CorpSBUX	USEW +0.45 points	0.20%	0.65%
BlackstoneBX	USEW +0.45 points	0.16%	0.61%
AbbVieABBV	USEW +0.43 points	0.22%	0.65%
Western Digital CorpWDC	USEW +0.43 points	0.16%	0.59%
Eli LillyLLY	USEW +0.40 points	0.22%	0.62%
Seagate Technology Holdings PLCSTX	USEW +0.39 points	0.16%	0.55%
Aon PLC Class AAON	USEW +0.36 points	0.19%	0.55%
Costco Wholesale CorpCOST	USEW +0.33 points	0.21%	0.54%
Alphabet Class AGOOGL	USEW +0.31 points	0.09%	0.40%
Visa Class AV	USEW +0.29 points	0.23%	0.52%
Okta Class AOKTA	EUSA +0.28 points	0.30%	0.02%
Eaton PLCETN	USEW +0.25 points	0.18%	0.43%
SandiskSNDK	USEW +0.25 points	0.15%	0.40%
Veeva Systems Class AVEEV	EUSA +0.24 points	0.25%	<0.01%
ZscalerZS	EUSA +0.23 points	0.26%	0.03%
Cisco Systems IncCSCO	USEW +0.23 points	0.19%	0.42%
International Flavors & FragrancesIFF	EUSA +0.22 points	0.22%	<0.01%
Agilent Technologies IncA	EUSA +0.23 points	0.23%	<0.01%
HumanaHUM	EUSA +0.22 points	0.22%	<0.01%
Nasdaq IncNDAQ	EUSA +0.22 points	0.22%	<0.01%
Estee Lauder Inc Class AEL	EUSA +0.21 points	0.22%	<0.01%
VeraltoVLTO	EUSA +0.21 points	0.22%	<0.01%
Church and Dwight IncCHD	EUSA +0.22 points	0.22%	<0.01%
Ge VernovaGEV	USEW +0.22 points	0.17%	0.39%
Consolidated EdisonED	EUSA +0.22 points	0.22%	<0.01%
Centene CorpCNC	EUSA +0.21 points	0.21%	<0.01%
Otis WorldwideOTIS	EUSA +0.21 points	0.21%	<0.01%
Verisk AnalyticsVRSK	EUSA +0.21 points	0.21%	<0.01%
Targa ResourcesTRGP	EUSA +0.20 points	0.21%	<0.01%
EbayEBAY	EUSA +0.21 points	0.24%	0.03%
Roper TechnologiesROP	EUSA +0.21 points	0.23%	0.02%
Cardinal HealthCAH	EUSA +0.20 points	0.21%	<0.01%
Centerpoint EnergyCNP	EUSA +0.20 points	0.21%	<0.01%
Cincinnati FinancialCINF	EUSA +0.21 points	0.22%	0.01%
Roblox Class ARBLX	EUSA +0.20 points	0.22%	0.02%
Markel GroupMKL	EUSA +0.21 points	0.21%	<0.01%
DoverDOV	EUSA +0.21 points	0.21%	<0.01%
Packaging Corp of AmericaPKG	EUSA +0.20 points	0.20%	<0.01%
Vulcan MaterialsVMC	EUSA +0.21 points	0.21%	<0.01%
Alliant Energy CorpLNT	EUSA +0.20 points	0.20%	<0.01%
HalliburtonHAL	EUSA +0.20 points	0.21%	<0.01%
Rockwell Automation IncROK	EUSA +0.20 points	0.20%	<0.01%
Cognizant Technology Solutions ClaCTSH	EUSA +0.20 points	0.21%	0.01%
Ppl CorpPPL	EUSA +0.20 points	0.20%	<0.01%
Quest Diagnostics IncDGX	EUSA +0.20 points	0.21%	<0.01%
Carnival Corp LtdCCL	EUSA +0.20 points	0.22%	0.02%
VerisignVRSN	EUSA +0.20 points	0.23%	0.03%
Martin Marietta MaterialsMLM	EUSA +0.19 points	0.20%	<0.01%
MetlifeMET	EUSA +0.20 points	0.21%	0.01%
Principal Financial Group IncPFG	EUSA +0.20 points	0.20%	<0.01%
ResmedRMD	EUSA +0.20 points	0.20%	<0.01%
Ingersoll RandIR	EUSA +0.20 points	0.20%	<0.01%
Broadridge Financial Solutions IncBR	EUSA +0.19 points	0.20%	<0.01%
SyscoSYY	EUSA +0.20 points	0.20%	<0.01%
Cms EnergyCMS	EUSA +0.20 points	0.20%	<0.01%
EvergyEVRG	EUSA +0.20 points	0.21%	0.01%
Public Service Enterprise GroupPEG	EUSA +0.20 points	0.20%	<0.01%
AutodeskADSK	EUSA +0.19 points	0.20%	<0.01%
LoewsL	EUSA +0.19 points	0.20%	<0.01%
Hp IncHPQ	EUSA +0.19 points	0.19%	<0.01%
Live Nation EntertainmentLYV	EUSA +0.19 points	0.19%	<0.01%
Fifth Third BancorpFITB	EUSA +0.19 points	0.20%	<0.01%
CorpayCPAY	EUSA +0.19 points	0.20%	<0.01%
Devon EnergyDVN	EUSA +0.19 points	0.22%	0.03%
Hartford Insurance GroupHIG	EUSA +0.19 points	0.19%	<0.01%
KeycorpKEY	EUSA +0.19 points	0.19%	<0.01%
EqtEQT	EUSA +0.19 points	0.21%	0.02%
Xcel Energy IncXEL	EUSA +0.19 points	0.20%	0.01%
Workday Class AWDAY	EUSA +0.19 points	0.20%	0.01%
Micron TechnologyMU	USEW +0.19 points	0.19%	0.38%
Eversource EnergyES	EUSA +0.19 points	0.19%	<0.01%
Dte EnergyDTE	EUSA +0.19 points	0.20%	<0.01%
KrogerKR	EUSA +0.19 points	0.24%	0.05%
Fidelity National Information ServFIS	EUSA +0.19 points	0.19%	<0.01%
Brown & Brown IncBRO	EUSA +0.19 points	0.20%	<0.01%
NucorNUE	EUSA +0.19 points	0.22%	0.03%
D R HortonDHI	EUSA +0.18 points	0.19%	<0.01%
Synchrony FinancialSYF	EUSA +0.18 points	0.19%	<0.01%
Palo Alto NetworksPANW	USEW +0.19 points	0.20%	0.39%
Ge AerospaceGE	USEW +0.19 points	0.17%	0.36%
Delta Air LinesDAL	EUSA +0.18 points	0.19%	<0.01%
Textron IncTXT	EUSA +0.18 points	0.20%	0.02%
MsciMSCI	EUSA +0.18 points	0.22%	0.04%
Prudential Financial IncPRU	EUSA +0.18 points	0.19%	<0.01%
Diamondback EnergyFANG	EUSA +0.18 points	0.20%	0.02%
VistraVST	EUSA +0.19 points	0.20%	0.01%
Dominion EnergyD	EUSA +0.18 points	0.20%	0.01%
Westinghouse Air Brake TechnologieWAB	EUSA +0.18 points	0.19%	0.01%

All 515 EUSA holdings⁠All 427 USEW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EUSA vs USEW Cost

Overpaying USEW vs EUSA

$4,251

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EUSA 0.09%
$1,898
USEW 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

EUSA 0.09%
USEW 0.30%
Overpaying

Year by year

Year	EUSA	USEW	Overpaying
10	$165	$545	$380
20	$646	$2,113	$1,467
30	$1,898	$6,149	$4,251

Expense ratio

0.09%EUSA, cheaper
0.30%USEW

EUSA0.09%USEW0.30%

0.09%0.50%

Middle half of US Equal Weight funds
Median 0.20%

EUSA cheapest of 9 funds

USEW 8th cheapest of 9 funds

EUSA vs USEW Dividends

Last 12 months to Nov 2, 2026

Yield (12M): EUSA 1.39%; USEW No data
Payout (12M): EUSA $1.61; USEW No data
Last payment: EUSA $0.39; USEW $0.14
Ex-dividend: EUSA Sep 15, 2026; USEW Sep 28, 2026
Paid on: EUSA Sep 18, 2026; USEW Sep 30, 2026
Frequency: EUSA Quarterly; USEW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EUSAQuarterly · 40 paymentsAll EUSA payments⁠

USEWQuarterly · 4 paymentsAll USEW payments⁠

EUSA vs USEW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EUSA 13.0%USEW No data
Return per unit of riskSharpe ratio, 3 years: EUSA 1.06USEW No data
Worst fallMax drawdown, 5 years: EUSA −25.2%USEW No data
Market sensitivityBeta, 5 years: EUSA 0.98USEW 0.83; Market = 1

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