USMC vs QUAL: Holdings Overlap
USMCPrincipal U.S. Mega-Cap ETF
Principal · 26 holdings · $3.6B · as of 2026-03-31
QUALiShares MSCI USA Quality Factor ETF
iShares · 121 holdings · $47.8B · as of 2026-04-30
Holdings snapshots are 30 days apart (USMC: 2026-03-31, QUAL: 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 USMC and QUAL?
Principal U.S. Mega-Cap ETF (USMC, by Principal) holds 26 positions; iShares MSCI USA Quality Factor ETF (QUAL, by iShares) holds 121. 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
- 15USMC holds 26 · QUAL holds 121
- Weight in Shared Holdings
- USMC 64%·QUAL 44%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 USMC
11 of 26 positions (35.7% of the fund) are not held by QUAL.
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 | USMC | QUAL |
|---|---|---|
| Information Technology | 26.6% | 34.4% |
| Financials | 20.4% | 11.6% |
| Communication Services | 14.1% | 11.0% |
| Consumer Staples | 10.2% | 4.9% |
| Consumer Discretionary | 8.2% | 9.8% |
| Other Sectors | 20.2% | 28.1% |
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 |
|---|---|---|---|---|---|---|---|
| USMC | +2.9% | +11.9% | +21.9% | +20.8% | +14.5% | — | 0.74% |
| QUAL | +3.6% | +14.1% | +23.7% | +19.0% | +11.5% | +14.4% | 0.84% |
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 USMC vs QUAL →
Shared Holdings(15)
The top 10 shared positions account for 83% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 7.57% | 6.50% | 6.50% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.70% | 6.27% | 6.27% |
 MSFTMicrosoft Corp. COM | 4.91% | 5.04% | 4.91% |
 METAMeta Platforms, Inc., Class A | 4.11% | 3.49% | 3.49% |
 VVisa, Inc., Class A | 4.39% | 3.08% | 3.08% |
 GOOGLAlphabet Inc. CAP STK CL A | 5.37% | 2.53% | 2.53% |
 CATCaterpillar Inc COM | 2.43% | 2.52% | 2.43% |
 MAMasterCard Incorporated CL A | 4.49% | 2.30% | 2.30% |
 LLYEli Lilly & Co. COM | 2.23% | 2.92% | 2.23% |
 BRK-BBerkshire Hathaway, Inc., Class B | 3.42% | 2.11% | 2.11% |
 NFLXNetflix, Inc. COM | 4.65% | 1.99% | 1.99% |
 JNJJohnson & Johnson COM | 3.54% | 1.92% | 1.92% |
 COSTCostco Wholesale Corporation COM | 4.58% | 1.31% | 1.31% |
 WMTWalmart Inc COM | 2.48% | 1.23% | 1.23% |
 PGThe Procter & Gamble Co. COM | 3.11% | 0.93% | 0.93% |
Frequently Asked Questions
How much do USMC and QUAL overlap?
USMC and QUAL overlap by 43.3% of portfolio weight. They share 15 holdings (USMC holds 26 positions and QUAL holds 121), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMC and QUAL?
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 USMC and QUAL?
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 USMC own that QUAL doesn't?
11 positions (35.7% of USMC) are unique to USMC, led by JPM, AVGO and AMZN. In the other direction, 106 positions (55.7% of QUAL) are unique to QUAL.