USMV vs SPHQ: Holdings Overlap
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
SPHQInvesco S&P 500 Quality ETF
Invesco · 99 holdings · $20.0B · as of 2026-04-30
How similar are USMV and SPHQ?
iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170 positions; Invesco S&P 500 Quality ETF (SPHQ, by Invesco) holds 99. They have 35 holdings in common, and by portfolio weight the two funds are 21.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 21.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 35USMV holds 170 · SPHQ holds 99
- Weight in Shared Holdings
- USMV 25%·SPHQ 59%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
135 of 170 positions (74.8% of the fund) are not held by SPHQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | USMV | SPHQ |
|---|---|---|
| Information Technology | 29.2% | 27.6% |
| Industrials | 6.9% | 24.5% |
| Consumer Staples | 9.9% | 15.3% |
| Financials | 13.7% | 13.4% |
| Health Care | 12.7% | 8.4% |
| Other Sectors | 27.3% | 10.6% |
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% |
| SPHQ | -0.8% | +15.3% | +21.9% | +19.9% | +12.7% | +14.6% | 1.09% |
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 SPHQ →
Shared Holdings(35)
The top 10 shared positions account for 54% of the overlap, led by CSCO, KO and NEM.
 CSCOCisco Systems, Inc. COM | 1.80% | 3.54% | 1.80% |
|---|---|---|---|
 KOCoca-Cola Co (The) COM | 1.19% | 3.33% | 1.19% |
 NEMNewmont Corporation COM | 1.18% | 1.22% | 1.18% |
 MRKMerck & Co., Inc COM | 1.17% | 2.86% | 1.17% |
 TJXThe TJX Companies Inc. COM | 1.15% | 1.79% | 1.15% |
 MAMasterCard Incorporated CL A | 1.15% | 4.32% | 1.15% |
 PGThe Procter & Gamble Co. COM | 1.10% | 3.46% | 1.10% |
 PGRThe Progressive Corporation COM | 1.07% | 1.40% | 1.07% |
 VVisa, Inc., Class A | 0.94% | 4.68% | 0.94% |
 GILDGilead Sciences Inc. COM | 0.82% | 2.27% | 0.82% |
 AAPLApple Inc. COM | 0.82% | 4.50% | 0.82% |
 ACNAccenture PLC CLS'A'USD0.0000225 | 0.75% | 1.04% | 0.75% |
 MDLZMondelez International, Inc., Class A | 0.74% | 0.80% | 0.74% |
 MSIMotorola Solutions Inc COM NEW | 1.45% | 0.74% | 0.74% |
 MNSTMonster Beverage Corp COM | 0.72% | 0.82% | 0.72% |
 CLColgate-Palmolive Co. COM | 0.89% | 0.71% | 0.71% |
 CORCencora Inc COM | 1.28% | 0.66% | 0.66% |
 ADBEAdobe Inc COM | 0.57% | 1.44% | 0.57% |
 ALLThe Allstate Corporation COM | 0.50% | 0.70% | 0.50% |
 EAElectronic Arts Inc. COM | 0.85% | 0.45% | 0.45% |
 FTNTFortinet Inc COM | 0.43% | 0.85% | 0.43% |
 ACGLArch Capital Group Ltd. COM USD0.01 | 0.49% | 0.34% | 0.34% |
 COSTCostco Wholesale Corporation COM | 0.32% | 4.81% | 0.32% |
 CTVACorteva Inc COM | 0.29% | 0.55% | 0.29% |
 CHDChurch & Dwight Co Inc. COM | 0.59% | 0.25% | 0.25% |
Frequently Asked Questions
How much do USMV and SPHQ overlap?
USMV and SPHQ overlap by 21.4% of portfolio weight. They share 35 holdings (USMV holds 170 positions and SPHQ holds 99), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMV and SPHQ?
The two portfolios are 21.4% 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 USMV and SPHQ?
The largest positions held by both funds are CSCO, KO, NEM, MRK and TJX. Together the top 10 shared positions account for 54% of the total overlap.
What does USMV own that SPHQ doesn't?
135 positions (74.8% of USMV) are unique to USMV, led by NVDA, XOM and MSFT. In the other direction, 64 positions (41.0% of SPHQ) are unique to SPHQ.