SPLV vs USMV: Holdings Overlap
SPLVInvesco S&P 500 Low Volatility ETF
Invesco · 100 holdings · $7.2B · as of 2026-05-31
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
Holdings snapshots are 31 days apart (SPLV: 2026-05-31, USMV: 2026-04-30). 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 SPLV and USMV?
Invesco S&P 500 Low Volatility ETF (SPLV, by Invesco) holds 100 positions; iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170. They have 52 holdings in common, and by portfolio weight the two funds are 34.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 34.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 52SPLV holds 100 · USMV holds 170
- Weight in Shared Holdings
- SPLV 53%·USMV 39%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 SPLV
48 of 100 positions (46.6% of the fund) are not held by USMV. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPLV | USMV |
|---|---|---|
| Information Technology | 0.8% | 29.2% |
| Utilities | 25.0% | 7.6% |
| Financials | 21.0% | 13.7% |
| Real Estate | 17.7% | 2.2% |
| Health Care | 3.9% | 12.7% |
| Other Sectors | 31.2% | 34.3% |
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 |
|---|---|---|---|---|---|---|---|
| SPLV | -0.7% | +8.1% | +6.1% | +9.1% | +6.0% | +8.3% | 2.12% |
| 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 SPLV vs USMV →
Shared Holdings(52)
The top 10 shared positions account for 33% of the overlap, led by BRK-B, DUK and KO.
 BRK-BBerkshire Hathaway, Inc., Class B | 1.28% | 1.41% | 1.28% |
|---|---|---|---|
 DUKDuke Energy Corp COM NEW | 1.25% | 1.55% | 1.25% |
 KOCoca-Cola Co (The) COM | 1.18% | 1.19% | 1.18% |
 MCDMcDonald's Corp. COM | 1.16% | 1.24% | 1.16% |
 SOSouthern Co. (The) | 1.16% | 1.53% | 1.16% |
 JNJJohnson & Johnson COM | 1.15% | 1.43% | 1.15% |
 TJXThe TJX Companies Inc. COM | 1.13% | 1.15% | 1.13% |
 RSGRepublic Services, Inc., Class A | 1.09% | 1.26% | 1.09% |
 EDConsolidated Edison, Inc. COM | 1.08% | 1.34% | 1.08% |
 PGThe Procter & Gamble Co. COM | 1.07% | 1.10% | 1.07% |
 AEXChubb Ltd. Switzerland ORD CHF24.15 | 1.06% | 1.49% | 1.06% |
 TRVTravelers Companies, Inc. COM | 1.01% | 1.09% | 1.01% |
 WMWaste Management, Inc. COM | 1.00% | 1.47% | 1.00% |
 CMECME Group, Inc., Class A | 0.94% | 0.94% | 0.94% |
 WECWEC Energy Group Inc. COM | 1.24% | 0.91% | 0.91% |
 VVisa, Inc., Class A | 0.90% | 0.94% | 0.90% |
 CLColgate-Palmolive Co. COM | 0.96% | 0.89% | 0.89% |
 MAMasterCard Incorporated CL A | 0.89% | 1.15% | 0.89% |
 YUMYum! Brands Inc. COM | 0.86% | 0.98% | 0.86% |
 CBOECboe Global Markets Inc COM | 0.86% | 1.06% | 0.86% |
 TAT&T Inc COM | 0.85% | 0.99% | 0.85% |
 MSIMotorola Solutions Inc COM NEW | 0.84% | 1.45% | 0.84% |
 PEPPepsico Inc COM | 0.84% | 1.01% | 0.84% |
 ORLYO'Reilly Automotive Inc. COM | 0.80% | 0.83% | 0.80% |
 WELLWelltower Inc. COM | 0.89% | 0.79% | 0.79% |
Frequently Asked Questions
How much do SPLV and USMV overlap?
SPLV and USMV overlap by 34.6% of portfolio weight. They share 52 holdings (SPLV holds 100 positions and USMV holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPLV and USMV?
The two portfolios are 34.6% 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 SPLV and USMV?
The largest positions held by both funds are BRK-B, DUK, KO, MCD and SO. Together the top 10 shared positions account for 33% of the total overlap.
What does SPLV own that USMV doesn't?
48 positions (46.6% of SPLV) are unique to SPLV, led by FE, CNP and EVRG. In the other direction, 118 positions (60.8% of USMV) are unique to USMV.