USMV vs PRF: Holdings Overlap
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
Invesco · 1003 holdings · $10.0B · as of 2026-04-30
How similar are USMV and PRF?
iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170 positions; Invesco RAFI US 1000 ETF (PRF, by Invesco) holds 1003. They have 162 holdings in common, and by portfolio weight the two funds are 30.1% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 30.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 162USMV holds 170 · PRF holds 1003
- Weight in Shared Holdings
- USMV 97%·PRF 43%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 USMV
8 of 170 positions (2.5% of the fund) are not held by PRF.
Sector Breakdown
| Sector | USMV | PRF |
|---|---|---|
| Information Technology | 29.2% | 20.1% |
| Financials | 13.7% | 16.1% |
| Health Care | 12.7% | 11.7% |
| Communication Services | 5.9% | 10.2% |
| Consumer Staples | 9.9% | 6.3% |
| Other Sectors | 28.3% | 35.7% |
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 |
|---|---|---|---|---|---|---|---|
| USMV | +2.3% | +7.6% | +10.3% | +12.2% | +7.4% | +9.9% | 1.44% |
| PRF | +2.9% | +20.0% | +33.4% | +20.5% | +13.5% | +13.8% | 1.33% |
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 USMV vs PRF →
Shared Holdings(162)
The top 10 shared positions account for 34% of the overlap, led by XOM, MSFT and BRK-B.
 XOMExxon Mobil Corp. COM | 1.60% | 1.88% | 1.60% |
|---|---|---|---|
 MSFTMicrosoft Corp. COM | 1.56% | 2.17% | 1.56% |
 BRK-BBerkshire Hathaway, Inc., Class B | 1.41% | 1.69% | 1.41% |
 JNJJohnson & Johnson COM | 1.43% | 1.09% | 1.09% |
 WMTWalmart Inc COM | 0.87% | 0.94% | 0.87% |
 AAPLApple Inc. COM | 0.82% | 4.08% | 0.82% |
 VZVerizon Communications Inc. COM | 1.49% | 0.78% | 0.78% |
 CSCOCisco Systems, Inc. COM | 1.80% | 0.76% | 0.76% |
 TAT&T Inc COM | 0.99% | 0.76% | 0.76% |
 MRKMerck & Co., Inc COM | 1.17% | 0.69% | 0.69% |
 PGThe Procter & Gamble Co. COM | 1.10% | 0.66% | 0.66% |
 NVDANVIDIA Corp. COM | 1.63% | 0.56% | 0.56% |
 AVGOBroadcom Inc COM | 0.50% | 0.66% | 0.50% |
 ABBVAbbVie Inc. COM | 0.63% | 0.49% | 0.49% |
 AMDAdvanced Micro Devices Inc. COM | 0.53% | 0.45% | 0.45% |
 MUMicron Technology Inc. COM | 0.42% | 0.90% | 0.42% |
 CVXChevron Corp. COM | 0.41% | 1.33% | 0.41% |
 TXNTexas Instruments Inc. COM | 0.77% | 0.40% | 0.40% |
 PEPPepsico Inc COM | 1.01% | 0.40% | 0.40% |
 UNHUnitedHealth Group Inc. COM | 0.39% | 1.17% | 0.39% |
 GILDGilead Sciences Inc. COM | 0.82% | 0.35% | 0.35% |
 IBMInternational Business Machines Corp. COM | 1.11% | 0.33% | 0.33% |
 VVisa, Inc., Class A | 0.94% | 0.32% | 0.32% |
 LMTLockheed Martin Corporation COM | 0.79% | 0.32% | 0.32% |
 COSTCostco Wholesale Corporation COM | 0.32% | 0.45% | 0.32% |
Frequently Asked Questions
How much do USMV and PRF overlap?
USMV and PRF overlap by 30.1% of portfolio weight. They share 162 holdings (USMV holds 170 positions and PRF holds 1003), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMV and PRF?
The two portfolios are 30.1% 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 USMV and PRF?
The largest positions held by both funds are XOM, MSFT, BRK-B, JNJ and WMT. Together the top 10 shared positions account for 34% of the total overlap.
What does USMV own that PRF doesn't?
8 positions (2.5% of USMV) are unique to USMV, led by WCN, GOOG and MELI. In the other direction, 841 positions (57.3% of PRF) are unique to PRF.