SPGP vs USMV: Holdings Overlap
Invesco · 73 holdings · $2.3B · 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 SPGP and USMV?
Invesco S&P 500 GARP ETF (SPGP, by Invesco) holds 73 positions; iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170. They have 24 holdings in common, and by portfolio weight the two funds are 13.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24SPGP holds 73 · USMV holds 170
- Weight in Shared Holdings
- SPGP 30%·USMV 15%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 SPGP
49 of 73 positions (70.4% of the fund) are not held by USMV. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPGP | USMV |
|---|---|---|
| Information Technology | 18.0% | 29.2% |
| Financials | 25.7% | 13.7% |
| Industrials | 18.1% | 6.9% |
| Consumer Discretionary | 18.0% | 5.9% |
| Health Care | 3.8% | 12.7% |
| Other Sectors | 16.3% | 31.3% |
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 |
|---|---|---|---|---|---|---|---|
| SPGP | +3.2% | +13.3% | +20.4% | +12.0% | +8.3% | +15.2% | 0.79% |
| 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 SPGP vs USMV →
Shared Holdings(24)
The top 10 shared positions account for 69% of the overlap, led by NVDA, PGR and TRV.
 NVDANVIDIA Corp. COM | 2.72% | 1.63% | 1.63% |
|---|---|---|---|
 PGRThe Progressive Corporation COM | 1.14% | 1.07% | 1.07% |
 TRVTravelers Companies, Inc. COM | 1.04% | 1.09% | 1.04% |
 MAMasterCard Incorporated CL A | 1.04% | 1.15% | 1.04% |
 AEXChubb Ltd. Switzerland ORD CHF24.15 | 1.00% | 1.49% | 1.00% |
 VVisa, Inc., Class A | 0.97% | 0.94% | 0.94% |
 MSFTMicrosoft Corp. COM | 0.78% | 1.56% | 0.78% |
 ADSKAutodesk Inc COM | 0.85% | 0.67% | 0.67% |
 LLYEli Lilly & Co. COM | 1.11% | 0.66% | 0.66% |
 ADBEAdobe Inc COM | 0.87% | 0.57% | 0.57% |
 PTCPTC Inc COM | 0.81% | 0.55% | 0.55% |
 ANETArista Networks Inc COM SHS | 2.60% | 0.52% | 0.52% |
 ACGLArch Capital Group Ltd. COM USD0.01 | 1.59% | 0.49% | 0.49% |
 GOOGAlphabet Inc. CAP STK CL C | 1.15% | 0.45% | 0.45% |
 FTNTFortinet Inc COM | 1.69% | 0.43% | 0.43% |
 FSLRFirst Solar Inc COM | 0.88% | 0.38% | 0.38% |
 WRBW.R. Berkley Corporation COM | 1.05% | 0.34% | 0.34% |
 UBERUber Technologies Inc COM | 2.17% | 0.29% | 0.29% |
 NFLXNetflix, Inc. COM | 0.92% | 0.23% | 0.23% |
 CIThe Cigna Group COM | 1.09% | 0.18% | 0.18% |
 HIGThe Hartford Insurance Group Inc. COM | 0.97% | 0.14% | 0.14% |
 APPAppLovin Corp., Class A | 1.36% | 0.11% | 0.11% |
 METAMeta Platforms, Inc., Class A | 1.02% | 0.09% | 0.09% |
 ERIEErie Indemnity Co., Class A | 0.83% | 0.08% | 0.08% |
Frequently Asked Questions
How much do SPGP and USMV overlap?
SPGP and USMV overlap by 13.7% of portfolio weight. They share 24 holdings (SPGP holds 73 positions and USMV holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPGP and USMV?
The two portfolios are 13.7% 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 SPGP and USMV?
The largest positions held by both funds are NVDA, PGR, TRV, MA and AEX. Together the top 10 shared positions account for 69% of the total overlap.
What does SPGP own that USMV doesn't?
49 positions (70.4% of SPGP) are unique to SPGP, led by MPWR, HST and ABNB. In the other direction, 146 positions (84.6% of USMV) are unique to USMV.