USMV vs. SPMV ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to Invesco S&P 500 Minimum Variance ETF (SPMV)

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

$91.07

Average Daily Volume

2,239,373

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

SPMV

Invesco S&P 500 Minimum Variance ETF

SPMV Description

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® Minimum Volatility Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of a subset of constituent securities of the S&P 500 Index using a managed volatility equity strategy that seeks to achieve lower total volatility than the S&P 500 ® Index, while maintaining other similar characteristics of the S&P 500 ® Index.

Grade (RS Rating)

Last Trade

$46.66

Average Daily Volume

433

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	USMV	SPMV
30 Days	1.20%	2.30%
60 Days	5.77%	5.91%
90 Days	9.04%	7.21%
12 Months	27.40%	30.07%

53 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in SPMV	Overlap
AAPL	C	0.99%	2.27%	0.99%
ABT	C	0.09%	2.18%	0.09%
ACGL	B	0.81%	0.77%	0.77%
ACN	C	1.24%	0.3%	0.3%
AEP	C	0.41%	1.8%	0.41%
AJG	D	1.21%	2.03%	1.21%
AMGN	D	0.7%	0.66%	0.66%
AMZN	C	0.13%	2.95%	0.13%
AON	B	0.49%	1.87%	0.49%
AVGO	C	1.26%	0.96%	0.96%
BDX	D	0.6%	0.14%	0.14%
BMY	C	0.43%	0.43%	0.43%
BRK.A	C	1.51%	3.06%	1.51%
CB	B	1.5%	2.85%	1.5%
CDNS	D	0.16%	0.06%	0.06%
CRM	C	0.04%	1.5%	0.04%
CSCO	B	1.35%	0.59%	0.59%
D	C	0.23%	0.41%	0.23%
DUK	B	1.53%	0.1%	0.1%
ELV	D	0.69%	1.86%	0.69%
GIS	B	0.77%	1.79%	0.77%
GOOG	D	0.15%	0.5%	0.15%
HD	B	0.29%	2.55%	0.29%
HRL	F	0.22%	0.4%	0.22%
HSY	D	0.34%	1.2%	0.34%
JNJ	C	1.26%	0.06%	0.06%
K	A	0.81%	0.26%	0.26%
KHC	C	0.43%	0.53%	0.43%
LLY	D	1.58%	2.74%	1.58%
MDLZ	C	0.51%	2.81%	0.51%
MDT	B	0.14%	0.8%	0.14%
MMC	C	1.12%	2.97%	1.12%
MRK	F	1.21%	2.04%	1.21%
MSFT	C	1.38%	2.93%	1.38%
NOW	C	0.68%	1.13%	0.68%
NVDA	C	0.55%	3.17%	0.55%
ORCL	B	1.15%	3.36%	1.15%
PFE	D	0.24%	1.92%	0.24%
PG	C	1.25%	2.89%	1.25%
PGR	C	1.68%	3.5%	1.68%
REGN	D	0.83%	0.98%	0.83%
ROL	C	0.37%	0.06%	0.06%
RSG	D	1.5%	0.79%	0.79%
RTX	B	0.09%	0.44%	0.09%
SNPS	F	0.17%	1.12%	0.17%
T	B	0.71%	0.5%	0.5%
TMUS	B	1.69%	2.25%	1.69%
TRV	C	1.05%	0.41%	0.41%
VRTX	D	0.71%	1.82%	0.71%
VZ	A	1.44%	2.12%	1.44%
WRB	D	0.29%	0.73%	0.29%
XEL	B	0.43%	0.03%	0.03%
XOM	D	0.45%	0.31%	0.31%

USMV Overweight 117 Positions Relative to SPMV

Symbol	Grade	Weight
IBM	B	1.75%
MSI	B	1.67%
WMT	B	1.66%
NOC	B	1.54%
WCN	D	1.49%
TXN	B	1.42%
SO	B	1.38%
WM	D	1.37%
UNH	C	1.34%
APH	C	1.34%
ROP	C	1.31%
MCD	B	1.29%
ABBV	B	1.21%
ED	B	1.2%
PEP	D	1.1%
MCK	F	1.06%
AZO	B	0.96%
LMT	A	0.9%
GILD	B	0.9%
CBOE	C	0.86%
GDDY	C	0.84%
V	C	0.78%
CTSH	B	0.76%
EA	D	0.76%
FCNCA	D	0.74%
WEC	B	0.74%
KDP	B	0.71%
TSN	D	0.68%
MA	B	0.66%
VRSN	C	0.66%
ORLY	B	0.64%
COR	F	0.62%
NEM	C	0.6%
KR	B	0.59%
FANG	F	0.57%
FI	B	0.57%
KEYS	B	0.56%
MPC	F	0.56%
ERIE	B	0.54%
TDY	B	0.53%
FFIV	B	0.52%
CME	B	0.51%
YUM	B	0.51%
JNPR	A	0.5%
FICO	B	0.5%
UBER	C	0.5%
PTC	C	0.49%
INCY	C	0.48%
CDW	D	0.46%
CL	C	0.46%
AKAM	D	0.46%
BAH	B	0.45%
EG	B	0.45%
HUM	F	0.45%
TJX	C	0.44%
WDAY	D	0.41%
VRSK	D	0.4%
CPB	C	0.38%
CMCSA	C	0.38%
CHD	C	0.37%
CTVA	B	0.37%
WTW	B	0.35%
IT	C	0.34%
AFG	C	0.34%
GEN	A	0.33%
NBIX	F	0.32%
MKL	C	0.32%
CVX	F	0.31%
GLW	B	0.3%
FWONK	C	0.3%
ICE	C	0.29%
AIZ	B	0.29%
ANET	C	0.29%
GRMN	D	0.28%
L	D	0.27%
ADI	C	0.25%
BMRN	F	0.25%
ALNY	C	0.25%
WMB	C	0.24%
AEE	B	0.23%
CI	C	0.23%
KMB	C	0.22%
NTAP	D	0.22%
MOH	D	0.22%
AZPN	B	0.22%
HON	C	0.22%
MELI	C	0.2%
CMS	B	0.2%
DTE	A	0.2%
HUBS	D	0.19%
LIN	B	0.18%
TW	B	0.18%
STX	B	0.18%
PKG	B	0.18%
DPZ	D	0.18%
HOLX	D	0.17%
CRWD	D	0.16%
EOG	D	0.16%
UTHR	B	0.14%
OXY	F	0.13%
HIG	B	0.12%
KO	B	0.11%
LNT	A	0.1%
DELL	C	0.1%
DGX	B	0.1%
FSLR	C	0.08%
ADP	C	0.08%
TEL	D	0.07%
PSX	F	0.06%
GD	C	0.06%
KNX	C	0.06%
OTIS	B	0.06%
VLO	F	0.05%
CVS	D	0.05%
BR	C	0.05%
ULTA	D	0.05%
ATO	B	0.05%

USMV Underweight 26 Positions Relative to SPMV

Symbol	Grade	Weight
NEE	B	-3.99%
ADBE	F	-2.0%
INTU	D	-1.92%
QCOM	D	-1.9%
CCI	C	-1.42%
CEG	C	-1.41%
SRE	B	-1.39%
ALL	C	-1.21%
ADM	D	-1.21%
MKC	C	-0.89%
AIG	D	-0.82%
IDXX	D	-0.75%
ISRG	C	-0.72%
META	B	-0.71%
RMD	C	-0.67%
JPM	D	-0.51%
AES	C	-0.49%
MRNA	F	-0.43%
TFC	D	-0.42%
EL	D	-0.37%
SJM	C	-0.3%
ES	B	-0.28%
CAG	B	-0.12%
MTD	C	-0.09%
ZTS	B	-0.07%
PODD	C	-0.04%