USMV vs. SPLV ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to PowerShares S&P 500 Low Volatility Portfolio ETF (SPLV)

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

SPLV

PowerShares S&P 500 Low Volatility Portfolio ETF

SPLV Description

The PowerShares S&P 500 Low Volatility Portfolio (Fund) is based on the S&P 500 Low Volatility Index (Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's and consists of the 100 stocks from the S&P 500 Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

Grade (RS Rating)

Last Trade

$73.96

Average Daily Volume

1,577,046

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	USMV	SPLV
30 Days	1.70%	2.35%
60 Days	2.42%	3.72%
90 Days	4.02%	6.25%
12 Months	25.63%	23.06%

64 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in SPLV	Overlap
ABBV	D	1.04%	0.0%	0.0%
ABT	B	0.09%	0.98%	0.09%
ADP	B	0.09%	1.11%	0.09%
AEP	D	0.39%	0.91%	0.39%
AJG	B	1.27%	0.94%	0.94%
ATO	A	0.06%	1.21%	0.06%
BR	A	0.05%	0.98%	0.05%
BRK.A	B	1.55%	1.31%	1.31%
CB	C	1.47%	1.02%	1.02%
CBOE	B	0.85%	0.0%	0.0%
CHD	B	0.4%	1.07%	0.4%
CL	D	0.41%	1.23%	0.41%
CME	A	0.53%	1.04%	0.53%
CMS	C	0.19%	1.03%	0.19%
COR	B	0.67%	0.99%	0.67%
CSCO	B	1.47%	0.0%	0.0%
CVX	A	0.34%	0.93%	0.34%
DGX	A	0.11%	0.0%	0.0%
DTE	C	0.2%	0.9%	0.2%
DUK	C	1.49%	1.07%	1.07%
EA	A	0.89%	1.03%	0.89%
ED	D	1.13%	1.0%	1.0%
FI	A	0.69%	1.08%	0.69%
GD	F	0.05%	1.03%	0.05%
GIS	D	0.66%	0.88%	0.66%
HIG	B	0.12%	0.91%	0.12%
HOLX	D	0.16%	0.96%	0.16%
HON	B	0.25%	1.11%	0.25%
ICE	C	0.28%	1.06%	0.28%
JNJ	D	1.18%	1.11%	1.11%
KDP	D	0.59%	0.97%	0.59%
KMB	D	0.21%	0.99%	0.21%
KO	D	0.1%	1.37%	0.1%
L	A	0.28%	1.15%	0.28%
LIN	D	0.16%	1.08%	0.16%
LMT	D	0.82%	1.04%	0.82%
LNT	A	0.1%	1.05%	0.1%
MA	C	0.7%	1.13%	0.7%
MCD	D	1.25%	0.97%	0.97%
MCK	B	1.35%	0.02%	0.02%
MDLZ	F	0.44%	1.0%	0.44%
MDT	D	0.13%	0.92%	0.13%
MMC	B	1.11%	1.17%	1.11%
MSI	B	1.81%	1.08%	1.08%
NOC	D	1.43%	0.92%	0.92%
ORLY	B	0.68%	0.91%	0.68%
OTIS	C	0.07%	0.94%	0.07%
PEP	F	1.01%	1.04%	1.01%
PG	A	1.23%	1.22%	1.22%
PKG	A	0.2%	0.89%	0.2%
ROP	B	1.3%	0.98%	0.98%
RSG	A	1.55%	1.22%	1.22%
RTX	C	0.09%	0.99%	0.09%
SO	D	1.35%	1.0%	1.0%
TJX	A	0.45%	1.03%	0.45%
TMUS	B	1.95%	1.17%	1.17%
V	A	0.9%	1.1%	0.9%
VRSN	F	0.64%	0.93%	0.64%
WEC	A	0.78%	0.97%	0.78%
WM	A	1.44%	0.97%	0.97%
WMB	A	0.31%	0.98%	0.31%
WMT	A	1.78%	0.92%	0.92%
WTW	B	0.38%	1.0%	0.38%
YUM	B	0.5%	1.07%	0.5%

USMV Overweight 106 Positions Relative to SPLV

Symbol	Grade	Weight
PGR	A	1.67%
IBM	C	1.66%
WCN	A	1.56%
APH	A	1.44%
TXN	C	1.39%
VZ	C	1.35%
MSFT	F	1.34%
UNH	C	1.34%
ORCL	B	1.31%
ACN	C	1.29%
LLY	F	1.25%
AVGO	D	1.19%
TRV	B	1.15%
MRK	F	1.01%
GDDY	A	1.0%
AAPL	C	0.99%
AZO	C	0.98%
GILD	C	0.94%
FCNCA	A	0.88%
K	A	0.8%
CTSH	B	0.76%
NOW	A	0.75%
T	A	0.74%
TSN	B	0.71%
VRTX	F	0.69%
ACGL	D	0.68%
NVDA	C	0.67%
KR	B	0.61%
AMGN	D	0.59%
FICO	B	0.59%
REGN	F	0.59%
TDY	B	0.57%
BDX	F	0.56%
KEYS	A	0.55%
FANG	D	0.55%
FFIV	B	0.55%
MPC	D	0.54%
INCY	C	0.53%
AON	A	0.53%
PTC	A	0.52%
ELV	F	0.52%
BMY	B	0.49%
XEL	A	0.46%
NEM	D	0.46%
UBER	D	0.45%
JNPR	F	0.45%
XOM	B	0.45%
WDAY	B	0.43%
EG	C	0.43%
ERIE	D	0.42%
VRSK	A	0.42%
HUM	C	0.4%
BAH	F	0.39%
CMCSA	B	0.39%
AKAM	D	0.39%
KHC	F	0.38%
CTVA	C	0.38%
ROL	B	0.36%
IT	C	0.35%
AFG	A	0.35%
GEN	B	0.35%
CDW	F	0.35%
MKL	A	0.34%
GRMN	B	0.33%
CPB	D	0.33%
AIZ	A	0.32%
NBIX	C	0.32%
WRB	A	0.31%
GLW	B	0.31%
FWONK	B	0.31%
HSY	F	0.3%
HD	A	0.3%
ANET	C	0.29%
AEE	A	0.24%
HUBS	A	0.24%
ADI	D	0.23%
D	C	0.23%
AZPN	A	0.23%
ALNY	D	0.22%
NTAP	C	0.22%
BMRN	D	0.22%
HRL	D	0.21%
CI	F	0.21%
TW	A	0.2%
PFE	D	0.2%
DPZ	C	0.19%
CRWD	B	0.19%
CDNS	B	0.18%
MELI	D	0.18%
MOH	F	0.18%
SNPS	B	0.18%
EOG	A	0.17%
STX	D	0.16%
GOOG	C	0.16%
UTHR	C	0.14%
AMZN	C	0.14%
DELL	C	0.12%
OXY	D	0.12%
TEL	B	0.07%
PSX	C	0.06%
FSLR	F	0.06%
KNX	B	0.06%
VLO	C	0.05%
CRM	B	0.05%
ULTA	F	0.04%
CVS	D	0.04%

USMV Underweight 50 Positions Relative to SPLV

Symbol	Grade	Weight
NI	A	-1.09%
PPL	B	-1.09%
ITW	B	-1.09%
KMI	A	-1.07%
BSX	B	-1.07%
FE	C	-1.05%
PEG	A	-1.03%
SRE	A	-1.02%
EVRG	A	-1.02%
SPGI	C	-1.01%
OKE	A	-0.99%
BK	A	-0.99%
SYK	C	-0.97%
EIX	B	-0.96%
PM	B	-0.96%
STZ	D	-0.95%
MO	A	-0.94%
AMP	A	-0.94%
CTAS	B	-0.94%
WELL	A	-0.94%
HLT	A	-0.94%
O	D	-0.93%
NDAQ	A	-0.93%
PPG	F	-0.93%
AVB	B	-0.92%
REG	B	-0.92%
VICI	C	-0.92%
AVY	D	-0.92%
BRO	B	-0.92%
PCG	A	-0.92%
ECL	D	-0.91%
UNP	C	-0.91%
SYY	B	-0.9%
LYB	F	-0.9%
PNW	B	-0.9%
LHX	C	-0.9%
FRT	B	-0.89%
JKHY	D	-0.89%
PAYX	C	-0.87%
CSX	B	-0.85%
LDOS	C	-0.73%
COST	B	-0.02%
JPM	A	-0.01%
ETR	B	-0.0%
MET	A	-0.0%
AFL	B	-0.0%
PRU	A	-0.0%
AIG	B	-0.0%
AME	A	-0.0%
DRI	B	-0.0%