MGV vs USCA: Grades, Fees and Holdings Compared

Vanguard Morningstar Mega Cap Value ETF

MGVANYSE Arca

Xtrackers MSCI USA Climate Action Equity ETF

USCAANYSE Arca

Overlap

28.0%by weight

Expense ratio

MGV −0.02pt a year

MGV0.05%USCA0.07%

Avg volume · 30D

MGV 2.5×the volume

MGV247KUSCA97.9K

3Y return · a year

MGV +0.9pt

MGV+22.2%USCA+21.3%

MGV vs USCA Performance

Oct 31, 2025 – Oct 30, 2026

+25.6%MGV+6.8%USCA

Expense ratio: MGV 0.05%, better; USCA 0.07%
Fund size: MGV $13.6B; USCA $3.42B
1Y total return: MGV +25.6%, better; USCA +6.8%
Yield (12M): MGV 1.82%, better; USCA 1.06%
Holdings: MGV 117; USCA 392
Avg volume (30D): MGV 247K sh, better; USCA 97.9K sh
NAV per share: MGV $168.92; USCA $44.82
52W range

ETF.net Grade

Pillar letters and Scores for MGV, USCA, with each pillar’s weight
Pillar	MGV	USCA
Cost30% weight	A100Higher	A97
Mission25% weight	B67	A91Higher
Risk15% weight	A92Higher	C54
Tradability15% weight	C49	B61Higher
Holdings10% weight	B57Higher	D29
Durability5% weight	A90Higher	C49

Rank among US Factor Index funds

How we build Categories ›

Same Category. MGV and USCA are both graded against the same 30 US Factor Index funds, so their Grades compare head to head.

US Factor Index⁠

Category · 30 funds

See all 30 ›

MGV ranks 1st and USCA 2nd of 30 funds in the US Factor Index Category.

Rank 1AMGVVanguard Morningstar Mega Cap Value ETFScore 78
Rank 2AUSCAXtrackers MSCI USA Climate Action Equity ETFScore 74
Rank 3ASIZEiShares MSCI USA Size Factor ETFScore 72

Our read on each fund

ETF.net Research

MGVAVanguard Morningstar Mega Cap Value ETF

USCAAXtrackers MSCI USA Climate Action Equity ETF

In short

MGV Most "value" ETFs slide down into mid caps. MGV stays at the very top of the US market and buys the value half of it for five basis points. Vanguard's plain, cheap way to own the old-guard giants.

USCA The largest US ETF debut on record when it launched in 2023, seeded by a Finnish pension fund. It owns roughly 400 US large- and mid-caps, keeping only the top half of each sector on MSCI's climate-transition scoring, for 0.07% a year.

Stated mandate

MGV The ETF seeks to track the Morningstar US Mega Cap Value Index and provides passive, diversified exposure to the largest value stocks in the U.S. market.

USCA The fund seeks to track the MSCI USA Climate Action Index before fees and expenses through a passive indexing strategy. The index selects U.S. large- and mid-capitalization companies assessed as leading sector peers in climate-transition positioning and actions.

Why people hold it

MGV At 0.05% it is the cheapest fund in its factor peer group, where the median charges 0.28%. It undercuts fellow top-rated peers SIZE (0.15%) and SUSA (0.25%).vanguard.com
Launched December 2007, straight into the crash, and now a multi-billion-dollar fund. Long history, quarterly distributions, Vanguard plumbing behind it.
One of the strongest overall showings in its US factor peer group, built on cost and staying power rather than a clever screen.

USCA Costs 0.07% a year against a typical screened US equity peer near 0.28%, and undercuts bigger ESG names like SUSA at 0.25%.
No blanket sector bans: the index keeps the top 50% of companies in each GICS sector, so energy and industrials stay in, represented by their climate-transition leaders.dws.com msci.com
Rules do the picking. MSCI's climate metrics, ESG ratings and controversy screens set the roster; no manager discretion, no stock-by-stock calls.dws.com
A multi-billion-dollar fund with an institutional anchor investor from day one, and it pays quarterly.businesswire.com

Worth knowing

MGV About 130 names, all mega caps. The biggest holdings carry real weight, and small and mid caps are absent by design.
It tracks a Morningstar index of the largest US value stocks, so it leaves out the market's growth giants and can move very differently from a total-market fund.vanguard.com
Moderately traded rather than a household-name ticker, so limit orders and mid-session trading matter more here than with the very largest index ETFs.

USCA Half of each sector is screened out, so results can drift from a plain MSCI USA index fund in either direction.dws.com
Market-cap weighted and filed as non-diversified, so America's largest companies carry heavy weight at the top.dws.com
Moderately traded next to the giants of US equity, so spreads can be a bigger part of the cost of getting in and out.

Full MGV profile⁠

Full USCA profile⁠

MGV vs USCA Holdings

How MGV and USCA differ

Overlap by weight

28.0%

Shared holdings make up 86.1% of MGV and 28.0% of USCA.

Level by level

Holdings97 in both28.0%
Sector11 Sectors58.2%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in MGV and USCA, widest gap first
Sector	More in MGVMore in USCA	MGV	USCA
Technology	USCA +27.3 points	16.1%	43.4%
Financials	MGV +14.3 points	23.3%	9.0%
Health Care	MGV +8.3 points	18.4%	10.1%
Communication	USCA +8.2 points	3.4%	11.6%
Consumer Staples	MGV +7.1 points	10.9%	3.8%
Industrials	MGV +6.5 points	12.7%	6.2%
Consumer Discretionary	USCA +5.6 points	3.8%	9.4%
Energy	MGV +4.7 points	6.6%	1.9%
Materials	MGV +0.9 points	2.3%	1.4%
Real Estate	USCA +0.7 points	1.0%	1.7%
Utilities	MGV +0.2 points	1.7%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in MGV and USCA, widest gap first
Country	More in MGVMore in USCA	MGV	USCA
United States	MGV +0.7 points	100.0%	99.3%
Other countries (7)	USCA +0.7 points	0.0%	0.7%

Concentration

Weight in the 10 largest Holdings

MGV30.4%
USCA44.6%

Securities held

MGV116
USCA391

Asset class

MGV: Equity
USCA: Equity

Holdings

Only in MGV19
In both97
Only in USCA294

Only in MGV

19 securities, 14.2% of MGV by weight

Berkshire Hathaway Inc3.46%
Philip Morris International Inc1.46%
Texas Instruments Inc1.26%
Linde PLC1.08%
Berkshire Hathaway Inc1.04%
Eaton Corp PLC0.82%
Lockheed Martin Corp0.58%
Chubb Ltd0.56%
Altria Group Inc0.55%
Accenture PLC0.55%
Medtronic PLC0.54%
Freeport-McMoRan Inc0.49%
General Dynamics Corp0.42%
Elevance Health Inc0.40%
TJX Cos Inc/The0.36%
HCA Healthcare Inc0.30%
Johnson Controls International plc0.22%
Kinder Morgan Inc0.14%
SLBBH11420.00%

Only in USCA

294 securities, 71.6% of USCA by weight

Apple Inc9.49%
NVIDIA Corp8.82%
Microsoft Corp6.90%
Amazon.com Inc4.36%
Alphabet Class A3.08%
Broadcom2.76%
Meta Platform Inc Class A2.53%
Alphabet Class C2.44%
Tesla2.14%
Lilly (Eli) & Co2.13%
Advanced Micro Dev1.54%
Visa Inc-Class A Shares1.29%
Mastercard Inc-Class A0.97%
Palantir Technologies Inc Class A0.75%
Palo Alto Networks0.56%
Netflix Inc0.48%
2226792D0.44%
Applied Materials Inc0.44%
Lam Research Corp0.42%
Kla-Tencor Corp0.39%
Arista Networks Inc0.34%
Oracle Corp0.32%
Marvell Technology Group Ltd0.31%
Welltower Inc0.31%
Accenture Ltd-Cl A0.29%
Intel Corp0.27%
Eaton Corp PLC0.27%
Vertex Pharm0.26%
Booking Holdings Inc0.22%
GE Vernova0.22%
Intuitive Surgical Inc0.21%
ServiceNow Inc0.20%
Seagate Technology0.20%
Snowflake Inc0.19%
Amphenol Corp A0.18%
Western Digital0.18%
Chubb Ltd Npv0.18%
Medtronic plc0.18%
Quanta Services Inc0.17%
Anthem Inc0.17%
Johnson Controls International PLC0.17%
Cadence Design Systems Inc0.17%
Cloudflare Inc0.16%
Fortinet Inc0.16%
Synopsys Inc0.16%
Vertiv Holdings Co0.16%
Constellation Energy Corp0.15%
Hilton Worldwide Holdings Inc0.15%
Schlumberger Ltd0.15%
Ecolab0.14%

Weight gaps

All 97 Holdings in both funds, largest gap first.

Holding weights in MGV and USCA, widest gap first
Holding	More in MGVMore in USCA	MGV	USCA
Micron Technology IncMU	MGV +5.44 points	5.91%	0.47%
JPMorgan Chase & CoJPM	MGV +3.06 points	4.32%	1.26%
ExxonMobil Holdings CorpXOM	MGV +2.59 points	3.32%	0.73%
Johnson & JohnsonJNJ	MGV +1.91 points	3.14%	1.23%
Costco Wholesale CorpCOST	MGV +1.57 points	1.99%	0.42%
Chevron CorpCVX	MGV +1.47 points	1.88%	0.41%
Caterpillar IncCAT	MGV +1.42 points	1.83%	0.41%
Bank of America CorpBAC	MGV +1.32 points	1.78%	0.46%
AbbVie IncABBV	MGV +1.29 points	2.27%	0.98%
Walmart IncWMT	MGV +1.23 points	2.24%	1.01%
General Electric CoGE	MGV +1.15 points	1.59%	0.44%
Cisco Systems IncCSCO	MGV +1.11 points	1.88%	0.77%
RTX CorpRTX	MGV +1.10 points	1.23%	0.13%
Merck & Co IncMRK	MGV +1.07 points	1.76%	0.69%
Coca-Cola Co/TheKO	MGV +0.96 points	1.64%	0.68%
Wells Fargo & CoWFC	MGV +0.95 points	1.19%	0.24%
Procter & Gamble Co/ThePG	MGV +0.95 points	1.66%	0.71%
UnitedHealth Group IncUNH	MGV +0.93 points	1.62%	0.69%
Citigroup IncC	MGV +0.86 points	1.06%	0.20%
Goldman Sachs Group Inc/TheGS	MGV +0.84 points	1.21%	0.37%
Morgan StanleyMS	MGV +0.78 points	1.09%	0.31%
Home Depot Inc/TheHD	MGV +0.78 points	1.40%	0.62%
Thermo Fisher Scientific IncTMO	MGV +0.75 points	1.23%	0.48%
International Business Machines CorpIBM	MGV +0.68 points	1.02%	0.34%
Amgen IncAMGN	MGV +0.65 points	1.12%	0.47%
QUALCOMM IncQCOM	MGV +0.62 points	0.95%	0.33%
Walt Disney Co/TheDIS	MGV +0.62 points	0.89%	0.27%
Dell Technologies IncDELL	MGV +0.59 points	0.77%	0.18%
Verizon Communications IncVZ	MGV +0.59 points	0.94%	0.35%
Abbott LaboratoriesABT	MGV +0.58 points	0.84%	0.26%
ConocoPhillipsCOP	MGV +0.56 points	0.74%	0.18%
Analog Devices IncADI	MGV +0.57 points	0.95%	0.38%
AT&T IncT	MGV +0.54 points	0.82%	0.28%
Salesforce IncCRM	MGV +0.54 points	0.88%	0.34%
Deere & CoDE	MGV +0.54 points	0.85%	0.31%
Charles Schwab Corp/TheSCHW	MGV +0.52 points	0.79%	0.27%
Gilead Sciences IncGILD	MGV +0.51 points	0.91%	0.40%
PepsiCo IncPEP	MGV +0.50 points	0.85%	0.35%
Pfizer IncPFE	MGV +0.47 points	0.80%	0.33%
Progressive Corp/ThePGR	MGV +0.46 points	0.59%	0.13%
McDonald's CorpMCD	MGV +0.46 points	0.80%	0.34%
Union Pacific CorpUNP	MGV +0.45 points	0.79%	0.34%
NextEra Energy IncNEE	MGV +0.46 points	0.78%	0.32%
American Express CoAXP	MGV +0.44 points	0.76%	0.32%
Uber Technologies IncUBER	MGV +0.43 points	0.65%	0.22%
Parker-Hannifin CorpPH	MGV +0.43 points	0.59%	0.16%
Capital One Financial CorpCOF	MGV +0.41 points	0.58%	0.17%
Danaher CorpDHR	MGV +0.41 points	0.69%	0.28%
Blackrock IncBLK	MGV +0.42 points	0.73%	0.31%
Lowe's Cos IncLOW	MGV +0.40 points	0.51%	0.11%
PNC Financial Services Group Inc/ThePNC	MGV +0.40 points	0.44%	0.04%
Bristol-Myers Squibb CoBMY	MGV +0.39 points	0.63%	0.24%
Prologis IncPLD	MGV +0.39 points	0.61%	0.22%
CVS Health CorpCVS	MGV +0.38 points	0.54%	0.16%
Stryker CorpSYK	MGV +0.38 points	0.47%	0.09%
Southern Co/TheSO	MGV +0.36 points	0.46%	0.10%
US BancorpUSB	MGV +0.35 points	0.44%	0.09%
Duke Energy CorpDUK	MGV +0.35 points	0.44%	0.09%
Bank of New York Mellon Corp/TheBNY	MGV +0.34 points	0.48%	0.14%
McKesson CorpMCK	MGV +0.33 points	0.49%	0.16%
Trane Technologies PLCTT	MGV +0.32 points	0.49%	0.17%
Starbucks CorpSBUX	MGV +0.31 points	0.53%	0.22%
Northrop Grumman CorpNOC	MGV +0.30 points	0.34%	0.04%
S&P Global IncSPGI	MGV +0.29 points	0.56%	0.27%
Automatic Data Processing IncADP	MGV +0.28 points	0.50%	0.22%
Adobe IncADBE	MGV +0.28 points	0.47%	0.19%
Cigna Group/TheCI	MGV +0.27 points	0.35%	0.08%
EOG Resources IncEOG	MGV +0.28 points	0.36%	0.08%
United Parcel Service IncUPS	MGV +0.26 points	0.34%	0.07%
Illinois Tool Works IncITW	MGV +0.27 points	0.34%	0.07%
Comcast CorpCMCSA	MGV +0.26 points	0.38%	0.12%
CME Group IncCME	MGV +0.26 points	0.46%	0.20%
Emerson Electric CoEMR	MGV +0.26 points	0.43%	0.17%
Blackstone IncBX	MGV +0.25 points	0.41%	0.16%
3M CoMMM	MGV +0.25 points	0.42%	0.17%
CSX CorpCSX	MGV +0.24 points	0.42%	0.18%
Sherwin-Williams Co/TheSHW	MGV +0.25 points	0.39%	0.14%
Intercontinental Exchange IncICE	MGV +0.24 points	0.42%	0.18%
Waste Management IncWM	MGV +0.23 points	0.40%	0.17%
Marsh & McLennan Cos IncMRSH	MGV +0.22 points	0.40%	0.18%
American Tower CorpAMT	MGV +0.22 points	0.38%	0.16%
Mondelez International IncMDLZ	MGV +0.21 points	0.36%	0.15%
T-Mobile US IncTMUS	MGV +0.20 points	0.34%	0.14%
Intuit IncINTU	MGV +0.19 points	0.37%	0.18%
KKR & Co IncKKR	MGV +0.19 points	0.30%	0.11%
Travelers Cos Inc/TheTRV	MGV +0.10 points	0.18%	0.08%
Newmont CorpNEM	MGV +0.09 points	0.30%	0.21%
FedEx CorpFDX	MGV +0.09 points	0.15%	0.06%
Williams Cos Inc/TheWMB	MGV +0.07 points	0.20%	0.13%
Honeywell International IncHON	MGV +0.06 points	0.16%	0.10%
Regeneron Pharmaceuticals IncREGN	MGV +0.05 points	0.19%	0.14%
Honeywell Aerospace IncHONA	MGV +0.05 points	0.12%	0.07%
Apollo Global Management IncAPO	MGV +0.05 points	0.12%	0.07%
Boston Scientific CorpBSX	MGV +0.04 points	0.16%	0.12%
Colgate-Palmolive CoCL	MGV +0.03 points	0.17%	0.14%
Norfolk Southern CorpNSC	MGV +0.03 points	0.17%	0.14%
Marriott International Inc/MDMAR	MGV +0.02 points	0.18%	0.16%

All 127 MGV holdings⁠All 394 USCA 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.

MGV vs USCA Cost

Overpaying USCA vs MGV

$420

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

MGV 0.05%
$1,060
USCA 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

MGV 0.05%
USCA 0.07%
Overpaying

Year by year

Year	MGV	USCA	Overpaying
10	$92	$128	$36
20	$360	$503	$143
30	$1,060	$1,480	$420

Expense ratio

0.05%MGV, cheaper
0.07%USCA

MGV0.05%USCA0.07%

0.05%0.63%

Middle half of US Factor Index funds
Median 0.30%

MGV cheapest of 30 funds

USCA 2nd cheapest of 30 funds

MGV vs USCA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): MGV 1.82%, better; USCA 1.06%
Payout (12M): MGV $3.07; USCA $0.47
Last payment: MGV $0.72; USCA $0.10
Ex-dividend: MGV Sep 28, 2026; USCA Sep 18, 2026
Paid on: MGV Sep 30, 2026; USCA Sep 25, 2026
Frequency: MGV Quarterly; USCA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MGVQuarterly · 39 paymentsAll MGV payments⁠

USCAQuarterly · 15 paymentsAll USCA payments⁠

MGV vs USCA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: MGV 11.1%, betterUSCA 12.5%
Return per unit of riskSharpe ratio, 3 years: MGV 1.48, betterUSCA 1.27
Worst fallMax drawdown, 5 years: MGV −16.5%USCA −19.2%since Apr 2023
Market sensitivityBeta, 5 years: MGV 0.66USCA 1.00; Market = 1

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