QUAL vs USMV: Holdings Overlap
QUALiShares MSCI USA Quality Factor ETF
iShares · 121 holdings · $47.8B · as of 2026-04-30
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
How similar are QUAL and USMV?
iShares MSCI USA Quality Factor ETF (QUAL, by iShares) holds 121 positions; iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170. They have 53 holdings in common, and by portfolio weight the two funds are 25.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 25.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 53QUAL holds 121 · USMV holds 170
- Weight in Shared Holdings
- QUAL 66%·USMV 37%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
68 of 121 positions (34.0% of the fund) are not held by USMV. Showing the top 30 by weight.
Sector Breakdown
| Sector | QUAL | USMV |
|---|---|---|
| Information Technology | 34.4% | 29.2% |
| Financials | 11.6% | 13.7% |
| Health Care | 9.0% | 12.7% |
| Communication Services | 11.0% | 5.9% |
| Consumer Staples | 4.9% | 9.9% |
| Other Sectors | 28.9% | 28.3% |
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% |
| USMV | +2.3% | +7.6% | +10.3% | +12.2% | +7.4% | +9.9% | 1.44% |
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 USMV →
Shared Holdings(53)
The top 10 shared positions account for 47% of the overlap, led by NVDA, MSFT and JNJ.
 NVDANVIDIA Corp. COM | 6.50% | 1.63% | 1.63% |
|---|---|---|---|
 MSFTMicrosoft Corp. COM | 5.04% | 1.56% | 1.56% |
 JNJJohnson & Johnson COM | 1.92% | 1.43% | 1.43% |
 BRK-BBerkshire Hathaway, Inc., Class B | 2.11% | 1.41% | 1.41% |
 TJXThe TJX Companies Inc. COM | 3.19% | 1.15% | 1.15% |
 MAMasterCard Incorporated CL A | 2.30% | 1.15% | 1.15% |
 MRKMerck & Co., Inc COM | 1.08% | 1.17% | 1.08% |
 VVisa, Inc., Class A | 3.08% | 0.94% | 0.94% |
 PGThe Procter & Gamble Co. COM | 0.93% | 1.10% | 0.93% |
 WMTWalmart Inc COM | 1.23% | 0.87% | 0.87% |
 AAPLApple Inc. COM | 6.27% | 0.82% | 0.82% |
 LMTLockheed Martin Corporation COM | 0.88% | 0.79% | 0.79% |
 KOCoca-Cola Co (The) COM | 0.75% | 1.19% | 0.75% |
 ACNAccenture PLC CLS'A'USD0.0000225 | 0.83% | 0.75% | 0.75% |
 LINLinde PLC COM EUR0.001 | 0.88% | 0.69% | 0.69% |
 LLYEli Lilly & Co. COM | 2.92% | 0.66% | 0.66% |
 ADBEAdobe Inc COM | 1.19% | 0.57% | 0.57% |
 ABTAbbott Laboratories COM | 0.55% | 0.67% | 0.55% |
 ANETArista Networks Inc COM SHS | 1.49% | 0.52% | 0.52% |
 MSIMotorola Solutions Inc COM NEW | 0.48% | 1.45% | 0.48% |
 PEPPepsico Inc COM | 0.46% | 1.01% | 0.46% |
 GOOGAlphabet Inc. CAP STK CL C | 2.11% | 0.45% | 0.45% |
 FTNTFortinet Inc COM | 0.76% | 0.43% | 0.43% |
 NEMNewmont Corporation COM | 0.42% | 1.18% | 0.42% |
 VRTXVertex Pharmaceuticals Incorporated COM | 0.42% | 1.36% | 0.42% |
Frequently Asked Questions
How much do QUAL and USMV overlap?
QUAL and USMV overlap by 25.7% of portfolio weight. They share 53 holdings (QUAL holds 121 positions and USMV holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both QUAL and USMV?
The two portfolios are 25.7% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of QUAL and USMV?
The largest positions held by both funds are NVDA, MSFT, JNJ, BRK-B and TJX. Together the top 10 shared positions account for 47% of the total overlap.
What does QUAL own that USMV doesn't?
68 positions (34.0% of QUAL) are unique to QUAL, led by LRCX, KLAC and GOOGL. In the other direction, 117 positions (62.8% of USMV) are unique to USMV.