IUSV vs VBR: Grades, Fees and Holdings Compared

iShares Core S&P U.S. Value ETF

IUSVANasdaq

Vanguard Morningstar Small-Cap Value ETF

VBRBNYSE Arca

Overlap

9.3%by weight

Expense ratio

IUSV −0.01pt a year

IUSV0.04%VBR0.05%

Avg volume · 30D

IUSV 2.2×the volume

IUSV575KVBR259K

10Y return · a year

IUSV +1.3pt

IUSV+12.4%VBR+11.1%

IUSV vs VBR Performance

Nov 2, 2021 – Nov 2, 2026

+71.3%IUSV+51.1%VBR

Expense ratio: IUSV 0.04%, better; VBR 0.05%
Fund size: IUSV $28.5B; VBR $64.1B
1Y total return: IUSV +16.8%; VBR +21.5%, better
Yield (12M): IUSV 1.63%; VBR 1.80%, better
Holdings: IUSV 734; VBR 836
Avg volume (30D): IUSV 575K sh, better; VBR 259K sh
NAV per share: IUSV $115.73; VBR $243.34
52W range

ETF.net Grade

Pillar letters and Scores for IUSV, VBR, with each pillar’s weight
Pillar	IUSV	VBR
Cost30% weight	A96Higher	A86
Mission25% weight	A88Higher	B69
Risk15% weight	B64Higher	D32
Tradability15% weight	A81Higher	C54
Holdings10% weight	C49	A87Higher
Durability5% weight	A79	A86Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. IUSV and VBR are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

IUSV ranks 3rd and VBR 9th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 84
Rank 2AVTVVanguard Morningstar Value ETFScore 83
Rank 3AIUSViShares Core S&P U.S. Value ETFScore 81
Rank 4AIWDiShares Russell 1000 Value ETFScore 77
Rank 9BIWXiShares Russell Top 200 Value ETFScore 68
Rank 9BVBRVanguard Morningstar Small-Cap Value ETFScore 68
Rank 12BVIOVVanguard S&P Small-Cap 600 Value ETFScore 65

Our read on each fund

ETF.net Research

IUSVAiShares Core S&P U.S. Value ETF

VBRBVanguard Morningstar Small-Cap Value ETF

In short

IUSV A value fund with a wider net: it tracks the S&P 900 Value Index, which screens S&P 500 and MidCap 400 stocks on book value, earnings and sales versus price. Roughly 700 names, 0.04% a year, running since 2000.

VBR Vanguard's small-cap value index fund, running since 2004 at five basis points. It owns roughly 800 names off the CRSP index, and CRSP's definition of "small" stretches up toward mid-cap turf, making it a gentler read on small-cap value than Russell 2000 versions.

Stated mandate

IUSV The fund seeks to track the S&P 900 Value Index, which represents large- and mid-capitalization U.S. value equities. Value characteristics are identified using book value, earnings, and sales relative to price.

VBR Vanguard Small-Cap Value ETF seeks to follow the CRSP US Small Cap Value Index, which represents U.S. small-cap value stocks. It uses a passive, full-replication approach and normally remains fully invested.

Why people hold it

IUSV Costs 0.04% a year, a fraction of the typical US value ETF, and level with the cheapest of its large peers like SCHV.
The index reaches past the S&P 500 into the S&P MidCap 400, so mid-cap value names come along. Large-cap-only rivals such as SCHV stop short of them.spindices.com
A 2000 vintage and now a multi-billion-dollar iShares Core holding: it trades actively, tracks its index closely, and pays quarterly.

VBR 0.05% a year, against a peer-group median of 0.18%. Roughly a quarter of what the typical value fund in its group charges.
Full replication across about 800 small-cap value names, cap-weighted, so no single stock steers the portfolio.vanguard.com
CRSP shifts companies between size indexes in half-position "packets" inside buffer bands, softening turnover when a holding drifts across the small-cap line.crsp.org
Live since 2004, a multi-billion-dollar fund on one index mandate the whole way. Distributions land quarterly.

Worth knowing

IUSV S&P's style system splits the parent index by formula, and stocks with both value and growth traits can sit in each. This is the cheap half of the market, not a deep-value sleeve.spglobal.com spglobal.com 2
The screen is pure price ratios (book value, earnings, sales), with no profitability or quality filter, so cheap-for-a-reason names are part of the deal.spglobal.com
Holdings are float-market-cap weighted, so the biggest value names drive most of the movement.spglobal.com

VBR CRSP calls the bottom 2%-15% of the investable market "small," so this leans larger than Russell 2000 value funds such as VTWV.crsp.com
Small companies swing harder than large ones, and the fund normally stays fully invested through the swings.vanguard.com
Value here is CRSP's price-ratio screen (book, earnings, dividends, sales to price). No profitability or quality filter sits on top.pnc.com

Full IUSV profile⁠

Full VBR profile⁠

IUSV vs VBR Holdings

How IUSV and VBR differ

Overlap by weight

9.3%

Shared holdings make up 65.9% of VBR and 9.3% of IUSV.

Level by level

Holdings331 in both9.3%
Sector11 Sectors79.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in IUSV and VBR, widest gap first
Sector	More in IUSVMore in VBR	IUSV	VBR
Technology	IUSV +9.5 points	20.2%	10.7%
Real Estate	VBR +7.2 points	3.3%	10.5%
Consumer Staples	IUSV +4.3 points	8.8%	4.5%
Industrials	VBR +4.3 points	11.2%	15.5%
Consumer Discretionary	VBR +4.0 points	9.9%	13.9%
Health Care	IUSV +3.5 points	12.8%	9.3%
Energy	IUSV +3.1 points	8.2%	5.1%
Financials	VBR +2.1 points	15.5%	17.6%
Materials	VBR +1.9 points	3.5%	5.4%
Utilities	VBR +1.0 points	4.0%	5.0%
Communication	VBR +0.2 points	2.4%	2.6%

Country, concentration and asset class

Country by domicile

Country weights in IUSV and VBR, widest gap first
Country	More in IUSVMore in VBR	IUSV	VBR
United States	VBR +0.8 points	99.2%	100.0%
Switzerland	IUSV +0.5 points	0.5%	0.0%
Other countries (5)	IUSV +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

IUSV23.0%
VBR5.9%

Securities held

IUSV731
VBR827

Asset class

IUSV: Equity
VBR: Equity

Holdings

Only in IUSV400
In both331
Only in VBR496

Only in IUSV

400 securities, 90.5% of IUSV by weight

Apple7.81%
Amazon.com Inc3.44%
Exxonmobil Holdings Corp2.39%
Walmart1.71%
Chevron1.44%
Costco Wholesale Corp1.39%
Tesla Inc1.33%
Procter & Gamble1.17%
Merck & Co Inc1.15%
UnitedHealth Group1.13%
Home Depot1.02%
Intel Corporation1.01%
Bank of America1.01%
Visa Class A0.98%
JPMorgan Chase & Co0.89%
AbbVie0.87%
Texas Instrument0.85%
Johnson & Johnson0.84%
Thermo Fisher Scientific0.80%
Wells Fargo0.78%
Linde PLC0.74%
Coca-Cola0.66%
Citigroup0.64%
Analog Devices0.63%
Cisco Systems Inc0.60%
Walt Disney0.59%
Salesforce0.58%
Pepsico0.58%
Verizon Communications Inc0.58%
Conocophillips0.57%
Abbott Laboratories0.57%
Union Pacific0.56%
Qualcomm0.55%
Nextera Energy0.54%
Pfizer0.54%
Mastercard Class A0.53%
Deere0.53%
BlackRock0.51%
Accenture PLC Class A0.49%
Ge Aerospace0.47%
AT&T0.46%
Danaher0.45%
Eaton PLC0.45%
Philip Morris International0.44%
Charles Schwab0.44%
Vertex Pharmaceuticals0.44%
Western Digital Corp0.41%
Palo Alto Networks0.41%
Altria Group Inc0.40%
Lockheed Martin0.40%

Only in VBR

496 securities, 34.0% of VBR by weight

SLCMT11420.62%
Tapestry Inc0.52%
Tenet Healthcare Corp0.47%
BitMine Immersion Technologies Inc0.36%
SS&C Technologies Holdings Inc0.35%
API Group Corp0.34%
First Citizens BancShares Inc/NC0.34%
Jazz Pharmaceuticals PLC0.32%
CACI International Inc0.29%
EchoStar Corp0.27%
Encompass Health Corp0.27%
United Therapeutics Corp0.26%
Elanco Animal Health Inc0.25%
Moog Inc0.25%
Flutter Entertainment PLC0.23%
Qorvo Inc0.22%
Popular Inc0.21%
Viasat Inc0.21%
Affiliated Managers Group Inc0.20%
Jackson Financial Inc0.20%
Rubrik Inc0.20%
New York Times Co/The0.20%
Tetra Tech Inc0.19%
Element Solutions Inc0.19%
FirstCash Holdings Inc0.19%
Aurora Innovation Inc0.18%
SM Energy Co0.18%
First Industrial Realty Trust Inc0.18%
CarMax Inc0.18%
Lincoln National Corp0.18%
Praxis Precision Medicines Inc0.17%
Ralliant Corp0.17%
Spyre Therapeutics Inc0.17%
Eastman Chemical Co0.17%
Zurn Elkay Water Solutions Corp0.17%
Arcosa Inc0.16%
Terreno Realty Corp0.16%
Victoria's Secret & Co0.16%
Plexus Corp0.16%
TPG Inc0.15%
Antero Midstream Corp0.15%
Gates Industrial Corp Ltd0.15%
EnerSys0.15%
Axis Capital Holdings Ltd0.15%
Enpro Inc0.15%
Conagra Brands Inc0.15%
Mohawk Industries Inc0.15%
OneMain Holdings Inc0.15%
Ralph Lauren Corp0.14%
Macerich Co/The0.14%

Weight gaps

The 100 widest of 331 Holdings in both funds.

Holding weights in IUSV and VBR, widest gap first
Holding	More in IUSVMore in VBR	IUSV	VBR
JabilJBL	VBR +0.64 points	0.04%	0.68%
ModernaMRNA	VBR +0.53 points	0.26%	0.79%
Williams Sonoma IncWSM	VBR +0.52 points	0.09%	0.61%
F5FFIV	VBR +0.51 points	0.06%	0.57%
Atmos EnergyATO	VBR +0.51 points	0.09%	0.60%
Smurfit Westrock PLCSW	VBR +0.46 points	0.07%	0.53%
Nrg Energy IncNRG	VBR +0.44 points	0.02%	0.46%
ViatrisVTRS	VBR +0.39 points	0.07%	0.46%
Omnicom Group IncOMC	VBR +0.39 points	0.07%	0.46%
Us Foods HoldingUSFD	VBR +0.38 points	0.07%	0.45%
Reliance Steel & AluminumRS	VBR +0.38 points	0.07%	0.45%
Expand EnergyEXE	VBR +0.38 points	0.06%	0.44%
Td SynnexSNX	VBR +0.36 points	0.06%	0.42%
NisourceNI	VBR +0.35 points	0.07%	0.42%
East West BancorpEWBC	VBR +0.36 points	0.03%	0.39%
Zebra Technologies Corp Class AZBRA	VBR +0.35 points	0.05%	0.40%
Wesco InternationalWCC	VBR +0.35 points	0.05%	0.40%
Best BuyBBY	VBR +0.34 points	0.06%	0.40%
Genuine PartsGPC	VBR +0.34 points	0.05%	0.39%
Essex Property Trust ReitESS	VBR +0.34 points	0.05%	0.39%
Dupont De NemoursDD	VBR +0.34 points	0.06%	0.40%
Cf Industries Holdings IncCF	VBR +0.34 points	0.06%	0.40%
RevvityRVTY	VBR +0.34 points	0.05%	0.39%
Jb Hunt Transport ServicesJBHT	VBR +0.33 points	0.05%	0.38%
IdexIEX	VBR +0.33 points	0.05%	0.38%
Zimmer Biomet HoldingsZBH	VBR +0.32 points	0.06%	0.38%
Ch Robinson WorldwideCHRW	VBR +0.32 points	0.05%	0.37%
EvergyEVRG	VBR +0.33 points	0.06%	0.39%
Bunge Global SABG	VBR +0.32 points	0.05%	0.37%
Alliant Energy CorpLNT	VBR +0.31 points	0.06%	0.37%
Tractor SupplyTSCO	VBR +0.31 points	0.06%	0.37%
FortiveFTV	VBR +0.32 points	0.06%	0.38%
W. P. Carey ReitWPC	VBR +0.31 points	0.02%	0.33%
Hf SinclairDINO	VBR +0.31 points	0.06%	0.37%
Reinsurance Group of AmericaRGA	VBR +0.32 points	0.05%	0.37%
Invitation HomesINVH	VBR +0.31 points	0.04%	0.35%
NvrNVR	VBR +0.30 points	0.05%	0.35%
Akamai Technologies IncAKAM	VBR +0.31 points	0.04%	0.35%
CdwCDW	VBR +0.30 points	0.06%	0.36%
Jacobs Solutions IncJ	VBR +0.30 points	0.06%	0.36%
OvintivOVV	VBR +0.30 points	0.06%	0.36%
Omega Healthcare Investors ReitOHI	VBR +0.30 points	0.02%	0.32%
Equitable HoldingsEQH	VBR +0.30 points	0.02%	0.32%
Host Hotels & Resorts ReitHST	VBR +0.30 points	0.05%	0.35%
Mueller Industries IncMLI	VBR +0.29 points	0.01%	0.30%
Leidos HoldingsLDOS	VBR +0.29 points	0.06%	0.35%
Kimco Realty Reit CorpKIM	VBR +0.29 points	0.05%	0.34%
Ball CorpBALL	VBR +0.29 points	0.05%	0.34%
Annaly Capital Management ReitNLY	VBR +0.28 points	0.04%	0.32%
Renaissancere HoldingRNR	VBR +0.28 points	0.02%	0.30%
AramarkARMK	VBR +0.28 points	0.04%	0.32%
Allegion PLCALLE	VBR +0.28 points	0.02%	0.30%
Everest GroupEG	VBR +0.27 points	0.05%	0.32%
ApaAPA	VBR +0.27 points	0.06%	0.33%
Healthpeak Properties IncDOC	VBR +0.27 points	0.04%	0.31%
Mid America Apartment CommunitiesMAA	VBR +0.27 points	0.04%	0.31%
Jones Lang LasalleJLL	VBR +0.27 points	0.05%	0.32%
Charles River Laboratories InternaCRL	VBR +0.27 points	0.05%	0.32%
Dt MidstreamDTM	VBR +0.27 points	0.01%	0.28%
Invesco LtdIVZ	VBR +0.26 points	0.04%	0.30%
Carlisle CompaniesCSL	VBR +0.26 points	0.03%	0.29%
Performance Food GroupPFGC	VBR +0.26 points	0.05%	0.31%
Rpm International IncRPM	VBR +0.27 points	0.02%	0.29%
Regency Centers Reit CorpREG	VBR +0.26 points	0.04%	0.30%
UnumUNM	VBR +0.26 points	0.04%	0.30%
Trimble IncTRMB	VBR +0.25 points	0.05%	0.30%
Stanley Black & DeckerSWK	VBR +0.25 points	0.05%	0.30%
SolventumSOLV	VBR +0.25 points	0.04%	0.29%
MascoMAS	VBR +0.25 points	0.05%	0.30%
Textron IncTXT	VBR +0.25 points	0.05%	0.30%
Globe LifeGL	VBR +0.25 points	0.04%	0.29%
Assurant IncAIZ	VBR +0.26 points	0.04%	0.30%
Avery Dennison CorpAVY	VBR +0.25 points	0.04%	0.29%
BorgwarnerBWA	VBR +0.25 points	0.03%	0.28%
TransunionTRU	VBR +0.25 points	0.02%	0.27%
Centene CorpCNC	VBR +0.25 points	0.10%	0.35%
Toll Brothers IncTOL	VBR +0.25 points	0.04%	0.29%
Sei InvestmentsSEIC	VBR +0.24 points	0.01%	0.25%
Steel Dynamics IncSTLD	VBR +0.23 points	0.11%	0.34%
EqtEQT	VBR +0.23 points	0.11%	0.34%
Agnc Investment ReitAGNC	VBR +0.23 points	<0.01%	0.24%
Jm SmuckerSJM	VBR +0.23 points	0.04%	0.27%
Mccormick & Co Non-VotingMKC	VBR +0.23 points	0.04%	0.27%
Skyworks SolutionsSWKS	VBR +0.23 points	0.06%	0.29%
Arrow ElectronicsARW	VBR +0.23 points	0.03%	0.26%
HasbroHAS	VBR +0.23 points	0.05%	0.28%
Eastgroup Properties ReitEGP	VBR +0.23 points	0.01%	0.24%
Bjs Wholesale Club HoldingsBJ	VBR +0.22 points	0.04%	0.26%
Cnh Industrial N.v.CNH	VBR +0.22 points	0.03%	0.25%
Crown Holdings IncCCK	VBR +0.22 points	0.04%	0.26%
Gen DigitalGEN	VBR +0.22 points	0.05%	0.27%
Alcoa CorpAA	VBR +0.22 points	0.03%	0.25%
Gaming and Leisure Properties ReitGLPI	VBR +0.22 points	0.02%	0.24%
DonaldsonDCI	VBR +0.22 points	0.01%	0.23%
Baxter InternationalBAX	VBR +0.22 points	0.04%	0.26%
Pinnacle WestPNW	VBR +0.22 points	0.04%	0.26%
CooperCOO	VBR +0.21 points	0.04%	0.25%
Essential Utilities IncWTRG	VBR +0.21 points	0.04%	0.25%
Stifel FinancialSF	VBR +0.22 points	0.01%	0.23%
First HorizonFHN	VBR +0.22 points	0.03%	0.25%

All 732 IUSV holdings⁠All 841 VBR 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.

IUSV vs VBR Cost

Overpaying VBR vs IUSV

$211

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

IUSV 0.04%
$849
VBR 0.05%
$1,060

Amount$10,000

Years30 years

Cost over time

IUSV 0.04%
VBR 0.05%
Overpaying

Year by year

Year	IUSV	VBR	Overpaying
10	$73	$92	$19
20	$288	$360	$72
30	$849	$1,060	$211

Expense ratio

0.04%IUSV, cheaper
0.05%VBR

IUSV0.04%VBR0.05%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

IUSV 3rd cheapest of 40 funds

VBR 5th cheapest of 40 funds

IUSV vs VBR Dividends

Last 12 months to Nov 2, 2026

Yield (12M): IUSV 1.63%; VBR 1.80%, better
Payout (12M): IUSV $1.89; VBR $4.42
Last payment: IUSV $0.49; VBR $1.03
Ex-dividend: IUSV Sep 15, 2026; VBR Sep 28, 2026
Paid on: IUSV Sep 18, 2026; VBR Sep 30, 2026
Frequency: IUSV Quarterly; VBR Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IUSVQuarterly · 39 paymentsAll IUSV payments⁠

VBRQuarterly · 39 paymentsAll VBR payments⁠

IUSV vs VBR Risk

Fall from peak · 5 years

IUSV
VBR

Risk facts

VolatilityStd dev, 3 years: IUSV 11.9%, betterVBR 15.9%
Return per unit of riskSharpe ratio, 3 years: IUSV 1.15, betterVBR 0.93
Worst fallMax drawdown, 5 years: IUSV −17.9%, betterVBR −24.2%
Market sensitivityBeta, 5 years: IUSV 0.85VBR 0.98; Market = 1

IUSV and VBR in the news

All news⁠

Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026IUSVVBR
Head-to-Head
IWD vs VBR: a lower fee does not buy the other value portfolio
17 hours agoVBR
New ETFs
Bridgeway's BRSV is a converted 2003 fund, not a new small-cap value strategy
Sep 10, 2026VBR

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