QUAL vs USMC: Holdings Overlap
QUALiShares MSCI USA Quality Factor ETF
iShares · 121 holdings · $47.8B · as of 2026-04-30
USMCPrincipal U.S. Mega-Cap ETF
Principal · 26 holdings · $3.6B · as of 2026-03-31
Holdings snapshots are 30 days apart (QUAL: 2026-04-30, USMC: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are QUAL and USMC?
iShares MSCI USA Quality Factor ETF (QUAL, by iShares) holds 121 positions; Principal U.S. Mega-Cap ETF (USMC, by Principal) holds 26. They have 15 holdings in common, and by portfolio weight the two funds are 43.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 43.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 15QUAL holds 121 · USMC holds 26
- Weight in Shared Holdings
- QUAL 44%·USMC 64%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in QUAL
106 of 121 positions (55.7% of the fund) are not held by USMC. Showing the top 30 by weight.
Sector Breakdown
| Sector | QUAL | USMC |
|---|---|---|
| Information Technology | 34.4% | 26.6% |
| Financials | 11.6% | 20.4% |
| Communication Services | 11.0% | 14.1% |
| Consumer Staples | 4.9% | 10.2% |
| Consumer Discretionary | 9.8% | 8.2% |
| Other Sectors | 28.1% | 20.2% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| QUAL | +3.6% | +14.1% | +23.7% | +19.0% | +11.5% | +14.4% | 0.84% |
| USMC | +2.9% | +11.9% | +21.9% | +20.8% | +14.5% | — | 0.74% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in QUAL vs USMC →
Shared Holdings(15)
The top 10 shared positions account for 83% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 6.50% | 7.57% | 6.50% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.27% | 6.70% | 6.27% |
 MSFTMicrosoft Corp. COM | 5.04% | 4.91% | 4.91% |
 METAMeta Platforms, Inc., Class A | 3.49% | 4.11% | 3.49% |
 VVisa, Inc., Class A | 3.08% | 4.39% | 3.08% |
 GOOGLAlphabet Inc. CAP STK CL A | 2.53% | 5.37% | 2.53% |
 CATCaterpillar Inc COM | 2.52% | 2.43% | 2.43% |
 MAMasterCard Incorporated CL A | 2.30% | 4.49% | 2.30% |
 LLYEli Lilly & Co. COM | 2.92% | 2.23% | 2.23% |
 BRK-BBerkshire Hathaway, Inc., Class B | 2.11% | 3.42% | 2.11% |
 NFLXNetflix, Inc. COM | 1.99% | 4.65% | 1.99% |
 JNJJohnson & Johnson COM | 1.92% | 3.54% | 1.92% |
 COSTCostco Wholesale Corporation COM | 1.31% | 4.58% | 1.31% |
 WMTWalmart Inc COM | 1.23% | 2.48% | 1.23% |
 PGThe Procter & Gamble Co. COM | 0.93% | 3.11% | 0.93% |
Frequently Asked Questions
How much do QUAL and USMC overlap?
QUAL and USMC overlap by 43.3% of portfolio weight. They share 15 holdings (QUAL holds 121 positions and USMC holds 26), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QUAL and USMC?
The two portfolios are 43.3% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of QUAL and USMC?
The largest positions held by both funds are NVDA, AAPL, MSFT, META and V. Together the top 10 shared positions account for 83% of the total overlap.
What does QUAL own that USMC doesn't?
106 positions (55.7% of QUAL) are unique to QUAL, led by LRCX, TJX and KLAC. In the other direction, 11 positions (35.7% of USMC) are unique to USMC.