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USMV vs XMLV

iShares MSCI USA Min Vol Factor ETF

USMVACboe

Invesco S&P MidCap Low Volatility ETF

XMLVCNYSE Arca

Overlap

0.0%by weight

Expense ratio

USMV −0.10pt a year

USMV0.15%XMLV0.25%

Avg volume · 30D

USMV 92.4×the volume

USMV1.9MXMLV20.6K

10Y return · a year

USMV +2.8pt

USMV+10.8%XMLV+8.0%

USMV vs XMLV Performance

Oct 29, 2021 – Oct 30, 2026

+44.0%USMV+35.7%XMLV

Oct 29, 2021 to Oct 30, 2026. USMV +44.0%. XMLV +35.7%. Use the arrow keys to read each point.−10%0%10%20%Oct 2021Apr 2024Oct 2026
Expense ratio
USMV 0.15%, better
XMLV 0.25%
Fund size
USMV $24B
XMLV $725M
1Y total return
USMV +12.1%, better
XMLV +10.2%
Yield (12M)
USMV 1.37%
XMLV 3.02%, better
Holdings
USMV 177
XMLV 82
Avg volume (30D)
USMV 1.9M sh, better
XMLV 20.6K sh
NAV per share
USMV $102.90
XMLV $66.01
52W range

ETF.net Grade

USMV: Cost 70, Risk 66, Mission 83, Tradability 89, Holdings 57, Durability 87. XMLV: Cost 30, Risk 31, Mission 78, Tradability 47, Holdings 35, Durability 64.
Pillar letters and Scores for USMV, XMLV, with each pillar’s weight
PillarUSMVXMLV
Cost30% weightA70HigherD30
Mission25% weightA83HigherA78
Risk15% weightB66HigherD31
Tradability15% weightA89HigherC47
Holdings10% weightB57HigherD35
Durability5% weightA87HigherB64

Rank among US Low Volatility Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. USMV and XMLV are both graded against the same 16 US Low Volatility Index funds, so their Grades compare head to head.

US Low Volatility Index⁠

Category · 16 funds
See all 16 ›

USMV ranks 3rd and XMLV 13th of 16 funds in the US Low Volatility Index Category.

  1. Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 78
  2. Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
  3. Rank 3AUSMViShares MSCI USA Min Vol Factor ETFScore 75
  4. Rank 4BSMLVState Street SPDR US Small Cap Low Volatility Index ETFScore 68
  5. Rank 12CCFOVictoryShares US 500 Enhanced Volatility Wtd ETFScore 47
  6. Rank 13CXMLVInvesco S&P MidCap Low Volatility ETFScore 46
  7. Rank 14CXSLVInvesco S&P SmallCap Low Volatility ETFScore 42

Our read on each fund

ETF.net Research

USMVAiShares MSCI USA Min Vol Factor ETF

XMLVCInvesco S&P MidCap Low Volatility ETF

In short

USMV The household name in low-volatility investing. Since 2011 USMV has tracked an MSCI index built around U.S. stocks with calmer price behavior, holding roughly 160 names for 0.15% a year.

XMLV No data

Stated mandate

USMV The fund seeks to track an index targeting U.S. stocks with lower-volatility characteristics.

XMLV No data

Why people hold it

  • USMV Costs 0.15% a year, below the typical fee in its low-volatility peer group.
  • A multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.
  • Running since 2011 on a published MSCI rulebook, with one of the stronger implementations among U.S. low-vol funds.ishares.com
  • Straightforward plumbing: index-tracked U.S. stocks, quarterly distributions, no derivatives layer to decode.

XMLV No data

Worth knowing

  • USMV Not the cheapest ticket in the aisle. QLV and LGLV both undercut it on fee.
  • "Minimum volatility" describes how the index picks and weights stocks, not a floor under losses. This is still a fully invested equity fund.
  • Roughly 160 holdings is a far narrower slice than a total-market fund, so results can drift from the broad U.S. index in either direction.

XMLV No data

Full USMV profile⁠

Full XMLV profile⁠

USMV vs XMLV Holdings

How USMV and XMLV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of USMV and 0.0% of XMLV.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors40.1%
  • Countryby domicile96.3%
  • Asset classEquity100%

Sector

Sector weights in USMV and XMLV, widest gap first
SectorMore in USMVMore in XMLV
TechnologyUSMV +32.9 points
Real EstateXMLV +27.4 points
FinancialsXMLV +18.6 points
UtilitiesXMLV +14.0 points
Health CareUSMV +13.1 points
Consumer StaplesUSMV +8.3 points
CommunicationUSMV +4.2 points
IndustrialsUSMV +0.9 points
EnergyUSMV +0.4 points
Consumer DiscretionarySame weight
MaterialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in USMV and XMLV, widest gap first
CountryMore in USMVMore in XMLV
United StatesXMLV +3.7 points
SwitzerlandUSMV +1.5 points
CanadaUSMV +1.3 points
ChinaUSMV +0.6 points
BrazilUSMV +0.3 points

Concentration

Weight in the 10 largest Holdings

  • USMV15.1%
  • XMLV18.9%

Securities held

  • USMV174
  • XMLV81

Asset class

USMV
Equity
XMLV
Equity

Holdings

  • Only in USMV174
  • In both0
  • Only in XMLV81

Only in USMV

174 securities, 99.7% of USMV by weight

  • Exxonmobil Holdings Corp1.61%
  • Microsoft1.59%
  • Chubb1.54%

Only in XMLV

81 securities, 99.9% of XMLV by weight

  • TXNM Energy Inc5.39%
  • OGE Energy Corp1.69%
  • IDACORP Inc1.56%

Weight gaps

USMV and XMLV share no securities.

All 174 USMV holdings⁠All 81 XMLV 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.

USMV vs XMLV Cost

Overpaying XMLV vs USMV

$2,022

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

  • USMV 0.15%

    $3,137

  • XMLV 0.25%

    $5,159

$10,000
30 years

Cost over time

  • USMV 0.15%
  • XMLV 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530XMLV $5,159USMV $3,137

Year by year

YearUSMVXMLVOverpaying
10$274$455$181
20$1,071$1,769$698
30$3,137$5,159$2,022

Expense ratio

  • 0.15%USMV, cheaper
  • 0.25%XMLV
  • Middle half of US Low Volatility Index funds
  • Median 0.20%

USMV 5th cheapest of 16 funds

XMLV 10th cheapest of 16 funds

USMV vs XMLV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
USMV 1.37%
XMLV 3.02%, better
Payout (12M)
USMV $1.41
XMLV $2.00
Last payment
USMV $0.33
XMLV $0.50
Ex-dividend
USMV Sep 15, 2026
XMLV Sep 21, 2026
Paid on
USMV Sep 18, 2026
XMLV Sep 25, 2026
Frequency
USMV Quarterly
XMLV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

USMVQuarterly · 40 paymentsAll USMV payments⁠
One bar per payment. 40 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.21; Jun 27, 2017 $0.26; Sep 26, 2017 $0.22; Dec 21, 2017 $0.25; Mar 22, 2018 $0.23; Jun 26, 2018 $0.29; Sep 26, 2018 $0.25; Dec 17, 2018 $0.30; Dec 28, 2018 $0.03; Mar 20, 2019 $0.24; Jun 17, 2019 $0.33; Sep 24, 2019 $0.29; Dec 16, 2019 $0.38; Mar 25, 2020 $0.31; Jun 15, 2020 $0.30; Sep 23, 2020 $0.31; Dec 14, 2020 $0.30; Mar 25, 2021 $0.27; Jun 10, 2021 $0.21; Sep 24, 2021 $0.29; Dec 13, 2021 $0.25; Mar 24, 2022 $0.27; Jun 9, 2022 $0.22; Sep 26, 2022 $0.33; Dec 13, 2022 $0.35; Mar 23, 2023 $0.32; Jun 7, 2023 $0.28; Sep 26, 2023 $0.39; Dec 20, 2023 $0.43; Mar 21, 2024 $0.36; Jun 11, 2024 $0.30; Sep 25, 2024 $0.41; Dec 17, 2024 $0.42; Mar 18, 2025 $0.32; Jun 16, 2025 $0.33; Sep 16, 2025 $0.36; Dec 16, 2025 $0.39; Mar 17, 2026 $0.39; Jun 15, 2026 $0.30; Sep 15, 2026 $0.33. Use the arrow keys to read each point.$0$0.502017202020232026YTD
XMLVQuarterly · 38 paymentsAll XMLV payments⁠
One bar per payment. 38 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.15; Sep 18, 2017 $0.17; Dec 18, 2017 $0.47; Mar 19, 2018 $0.19; Jun 18, 2018 $0.22; Sep 24, 2018 $0.23; Dec 24, 2018 $0.31; Mar 18, 2019 $0.14; Jun 24, 2019 $0.29; Sep 23, 2019 $0.28; Dec 23, 2019 $0.38; Mar 23, 2020 $0.37; Jun 22, 2020 $0.28; Sep 21, 2020 $0.19; Dec 21, 2020 $0.09; Mar 22, 2021 $0.13; Jun 21, 2021 $0.16; Sep 20, 2021 $0.20; Dec 20, 2021 $0.17; Mar 21, 2022 $0.24; Jun 21, 2022 $0.28; Sep 19, 2022 $0.36; Dec 19, 2022 $0.22; Mar 20, 2023 $0.34; Jun 20, 2023 $0.34; Sep 18, 2023 $0.32; Dec 18, 2023 $0.25; Mar 18, 2024 $0.33; Jun 24, 2024 $0.30; Sep 23, 2024 $0.32; Dec 23, 2024 $0.41; Mar 24, 2025 $0.51; Jun 23, 2025 $0.41; Sep 22, 2025 $0.45; Dec 22, 2025 $0.43; Mar 23, 2026 $0.57; Jun 22, 2026 $0.51; Sep 21, 2026 $0.50. Use the arrow keys to read each point.$0$0.502017202020232026YTD

USMV vs XMLV Risk

Fall from peak · 5 years

  • USMV
  • XMLV
Oct 29, 2021 to Oct 30, 2026. Worst fall: USMV −17.9% · Oct 2022. Use the arrow keys to read each point.−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
USMV 9.9%, betterXMLV 12.2%
Return per unit of riskSharpe ratio, 3 years
USMV 0.99, betterXMLV 0.78
Worst fallMax drawdown, 5 years
USMV −17.9%XMLV −16.5%, better
Market sensitivityBeta, 5 years
USMV 0.48XMLV 0.55

USMV and XMLV in the news

All news⁠

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