USMV vs. ACWV ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to iShares MSCI All Country World Minimum Volatility Index Fund (ACWV)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$113.95

Average Daily Volume

117,990

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

Performance

Period	USMV	ACWV
30 Days	1.70%	0.32%
60 Days	2.42%	-0.25%
90 Days	4.02%	1.23%
12 Months	25.63%	18.77%

119 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in ACWV	Overlap
ABBV	D	1.04%	0.49%	0.49%
ABT	B	0.09%	0.1%	0.09%
ACGL	D	0.68%	0.57%	0.57%
ACN	C	1.29%	0.26%	0.26%
AEE	A	0.24%	0.11%	0.11%
AEP	D	0.39%	0.07%	0.07%
AIZ	A	0.32%	0.13%	0.13%
AJG	B	1.27%	0.33%	0.33%
AKAM	D	0.39%	0.27%	0.27%
AMGN	D	0.59%	0.34%	0.34%
ANET	C	0.29%	0.06%	0.06%
AON	A	0.53%	0.35%	0.35%
APH	A	1.44%	0.54%	0.54%
AZO	C	0.98%	0.77%	0.77%
AZPN	A	0.23%	0.11%	0.11%
BAH	F	0.39%	0.37%	0.37%
BDX	F	0.56%	0.22%	0.22%
BMRN	D	0.22%	0.19%	0.19%
BMY	B	0.49%	0.25%	0.25%
BRK.A	B	1.55%	0.91%	0.91%
CB	C	1.47%	0.88%	0.88%
CBOE	B	0.85%	0.54%	0.54%
CHD	B	0.4%	0.46%	0.4%
CI	F	0.21%	0.24%	0.21%
CL	D	0.41%	0.35%	0.35%
CME	A	0.53%	0.23%	0.23%
CMS	C	0.19%	0.16%	0.16%
COR	B	0.67%	1.05%	0.67%
CPB	D	0.33%	0.22%	0.22%
CSCO	B	1.47%	1.57%	1.47%
CTSH	B	0.76%	0.21%	0.21%
CTVA	C	0.38%	0.12%	0.12%
DGX	A	0.11%	0.15%	0.11%
DPZ	C	0.19%	0.19%	0.19%
DUK	C	1.49%	0.81%	0.81%
EA	A	0.89%	0.63%	0.63%
ED	D	1.13%	0.84%	0.84%
EG	C	0.43%	0.1%	0.1%
ELV	F	0.52%	0.42%	0.42%
ERIE	D	0.42%	0.26%	0.26%
FANG	D	0.55%	0.06%	0.06%
FCNCA	A	0.88%	0.23%	0.23%
FFIV	B	0.55%	0.36%	0.36%
FI	A	0.69%	0.48%	0.48%
FICO	B	0.59%	0.12%	0.12%
FWONK	B	0.31%	0.22%	0.22%
GD	F	0.05%	0.18%	0.05%
GDDY	A	1.0%	0.64%	0.64%
GEN	B	0.35%	0.3%	0.3%
GILD	C	0.94%	0.48%	0.48%
GIS	D	0.66%	0.61%	0.61%
HOLX	D	0.16%	0.05%	0.05%
HRL	D	0.21%	0.23%	0.21%
HSY	F	0.3%	0.44%	0.3%
HUM	C	0.4%	0.31%	0.31%
IBM	C	1.66%	0.73%	0.73%
INCY	C	0.53%	0.38%	0.38%
IT	C	0.35%	0.07%	0.07%
JNJ	D	1.18%	1.05%	1.05%
JNPR	F	0.45%	0.32%	0.32%
K	A	0.8%	0.57%	0.57%
KDP	D	0.59%	0.36%	0.36%
KEYS	A	0.55%	0.41%	0.41%
KHC	F	0.38%	0.33%	0.33%
KMB	D	0.21%	0.3%	0.21%
KNX	B	0.06%	0.06%	0.06%
KO	D	0.1%	0.05%	0.05%
KR	B	0.61%	0.83%	0.61%
L	A	0.28%	0.4%	0.28%
LLY	F	1.25%	0.52%	0.52%
LMT	D	0.82%	0.23%	0.23%
MA	C	0.7%	0.19%	0.19%
MCD	D	1.25%	1.02%	1.02%
MCK	B	1.35%	1.42%	1.35%
MDLZ	F	0.44%	0.25%	0.25%
MKL	A	0.34%	0.43%	0.34%
MMC	B	1.11%	0.88%	0.88%
MOH	F	0.18%	0.12%	0.12%
MPC	D	0.54%	0.15%	0.15%
MRK	F	1.01%	1.06%	1.01%
MSFT	F	1.34%	0.76%	0.76%
MSI	B	1.81%	1.88%	1.81%
NBIX	C	0.32%	0.31%	0.31%
NEM	D	0.46%	0.09%	0.09%
NOC	D	1.43%	0.77%	0.77%
ORCL	B	1.31%	0.54%	0.54%
ORLY	B	0.68%	0.62%	0.62%
PEP	F	1.01%	1.08%	1.01%
PG	A	1.23%	0.82%	0.82%
PGR	A	1.67%	0.84%	0.84%
PTC	A	0.52%	0.22%	0.22%
REGN	F	0.59%	0.61%	0.59%
ROL	B	0.36%	0.21%	0.21%
ROP	B	1.3%	1.36%	1.3%
RSG	A	1.55%	1.19%	1.19%
SO	D	1.35%	0.8%	0.8%
T	A	0.74%	0.26%	0.26%
TDY	B	0.57%	0.11%	0.11%
TJX	A	0.45%	0.37%	0.37%
TMUS	B	1.95%	2.03%	1.95%
TRV	B	1.15%	0.32%	0.32%
TSN	B	0.71%	0.32%	0.32%
ULTA	F	0.04%	0.16%	0.04%
UNH	C	1.34%	0.83%	0.83%
UTHR	C	0.14%	0.4%	0.14%
V	A	0.9%	0.59%	0.59%
VRSN	F	0.64%	0.35%	0.35%
VRTX	F	0.69%	1.13%	0.69%
VZ	C	1.35%	0.76%	0.76%
WCN	A	1.56%	0.39%	0.39%
WDAY	B	0.43%	0.1%	0.1%
WEC	A	0.78%	0.68%	0.68%
WM	A	1.44%	1.5%	1.44%
WMT	A	1.78%	1.82%	1.78%
WRB	A	0.31%	0.41%	0.31%
WTW	B	0.38%	0.1%	0.1%
XEL	A	0.46%	0.11%	0.11%
XOM	B	0.45%	0.1%	0.1%
YUM	B	0.5%	0.24%	0.24%

USMV Overweight 51 Positions Relative to ACWV

Symbol	Grade	Weight
TXN	C	1.39%
AVGO	D	1.19%
AAPL	C	0.99%
NOW	A	0.75%
NVDA	C	0.67%
UBER	D	0.45%
VRSK	A	0.42%
CMCSA	B	0.39%
AFG	A	0.35%
CDW	F	0.35%
CVX	A	0.34%
GRMN	B	0.33%
WMB	A	0.31%
GLW	B	0.31%
HD	A	0.3%
ICE	C	0.28%
HON	B	0.25%
HUBS	A	0.24%
ADI	D	0.23%
D	C	0.23%
ALNY	D	0.22%
NTAP	C	0.22%
TW	A	0.2%
DTE	C	0.2%
PKG	A	0.2%
PFE	D	0.2%
CRWD	B	0.19%
CDNS	B	0.18%
MELI	D	0.18%
SNPS	B	0.18%
EOG	A	0.17%
LIN	D	0.16%
STX	D	0.16%
GOOG	C	0.16%
AMZN	C	0.14%
MDT	D	0.13%
DELL	C	0.12%
HIG	B	0.12%
OXY	D	0.12%
LNT	A	0.1%
RTX	C	0.09%
ADP	B	0.09%
OTIS	C	0.07%
TEL	B	0.07%
ATO	A	0.06%
PSX	C	0.06%
FSLR	F	0.06%
VLO	C	0.05%
BR	A	0.05%
CRM	B	0.05%
CVS	D	0.04%

USMV Underweight 20 Positions Relative to ACWV

Symbol	Grade	Weight
CHT	D	-0.37%
BRO	B	-0.3%
SJM	D	-0.27%
CF	B	-0.25%
MFG	B	-0.21%
JKHY	D	-0.2%
CAH	B	-0.18%
LNG	B	-0.16%
WIT	A	-0.12%
MNST	C	-0.12%
PCG	A	-0.1%
TPL	A	-0.1%
TRGP	B	-0.08%
DINO	D	-0.06%
CHRW	C	-0.06%
CAG	D	-0.05%
GPC	D	-0.05%
ACI	C	-0.05%
HSIC	B	-0.05%
HKD	F	-0.0%