USMV vs SPMO: Holdings Overlap
USMViShares MSCI USA Min Vol Factor ETF
iShares · 170 holdings · $24.1B · as of 2026-04-30
SPMOInvesco S&P 500 Momentum ETF
Invesco · 99 holdings · $21.3B · as of 2026-05-31
Holdings snapshots are 31 days apart (USMV: 2026-04-30, SPMO: 2026-05-31). 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 USMV and SPMO?
iShares MSCI USA Min Vol Factor ETF (USMV, by iShares) holds 170 positions; Invesco S&P 500 Momentum ETF (SPMO, by Invesco) holds 99. They have 40 holdings in common, and by portfolio weight the two funds are 20.9% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 20.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 40USMV holds 170 · SPMO holds 99
- Weight in Shared Holdings
- USMV 28%·SPMO 63%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
130 of 170 positions (71.9% of the fund) are not held by SPMO. Showing the top 30 by weight.
Sector Breakdown
| Sector | USMV | SPMO |
|---|---|---|
| Information Technology | 29.2% | 54.9% |
| Financials | 13.7% | 5.7% |
| Health Care | 12.7% | 6.2% |
| Industrials | 6.9% | 12.4% |
| Consumer Staples | 9.9% | 4.0% |
| Other Sectors | 27.3% | 16.8% |
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% |
| SPMO | +0.2% | +26.0% | +29.7% | +39.1% | +20.9% | +20.0% | 0.70% |
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 SPMO →
Shared Holdings(40)
The top 10 shared positions account for 59% of the overlap, led by CSCO, NVDA and XOM.
 CSCOCisco Systems, Inc. COM | 1.80% | 2.02% | 1.80% |
|---|---|---|---|
 NVDANVIDIA Corp. COM | 1.63% | 8.46% | 1.63% |
 XOMExxon Mobil Corp. COM | 1.60% | 2.78% | 1.60% |
 JNJJohnson & Johnson COM | 1.43% | 3.85% | 1.43% |
 APHAmphenol Corporation CL A | 1.50% | 1.30% | 1.30% |
 KOCoca-Cola Co (The) COM | 1.19% | 1.21% | 1.19% |
 NEMNewmont Corporation COM | 1.18% | 1.10% | 1.10% |
 GILDGilead Sciences Inc. COM | 0.82% | 0.83% | 0.82% |
 WELLWelltower Inc. COM | 0.79% | 0.76% | 0.76% |
 GLWCorning Incorporated COM | 0.68% | 0.95% | 0.68% |
 AMDAdvanced Micro Devices Inc. COM | 0.53% | 4.14% | 0.53% |
 PMPhilip Morris International Inc. COM | 0.52% | 1.29% | 0.52% |
 AVGOBroadcom Inc COM | 0.50% | 7.58% | 0.50% |
 LMTLockheed Martin Corporation COM | 0.79% | 0.50% | 0.50% |
 PLTRPalantir Technologies, Inc., Class A | 0.49% | 1.39% | 0.49% |
 MCKMckesson Corp. COM | 1.30% | 0.46% | 0.46% |
 GOOGAlphabet Inc. CAP STK CL C | 0.45% | 3.82% | 0.45% |
 MNSTMonster Beverage Corp COM | 0.72% | 0.45% | 0.45% |
 ADIAnalog Devices Inc. COM | 0.43% | 0.82% | 0.43% |
 MUMicron Technology Inc. COM | 0.42% | 10.73% | 0.42% |
 CMECME Group, Inc., Class A | 0.94% | 0.41% | 0.41% |
 NOCNorthrop Grumman Corporation COM | 0.85% | 0.35% | 0.35% |
 CIENCiena Corporation COM NEW | 0.33% | 0.63% | 0.33% |
 WMBWilliams Companies Inc. (The) COM | 0.49% | 0.31% | 0.31% |
 TELTE Connectivity PLC ORD SHS | 0.59% | 0.31% | 0.31% |
Frequently Asked Questions
How much do USMV and SPMO overlap?
USMV and SPMO overlap by 20.9% of portfolio weight. They share 40 holdings (USMV holds 170 positions and SPMO holds 99), based on each fund's latest SEC-reported holdings.
Is it redundant to own both USMV and SPMO?
The two portfolios are 20.9% 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 SPMO?
The largest positions held by both funds are CSCO, NVDA, XOM, JNJ and APH. Together the top 10 shared positions account for 59% of the total overlap.
What does USMV own that SPMO doesn't?
130 positions (71.9% of USMV) are unique to USMV, led by MSFT, DUK and SO. In the other direction, 59 positions (36.7% of SPMO) are unique to SPMO.