SPLV vs USMV overlap - what they share and where they differ
SPLV and USMV share 33.0% of their weight across 49 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
SPLV and USMV
33.0%
49 shared positions
SPLV
Invesco S&P 500 Low Volatility ETF
Reported positions cover 100% of the fund, 100 positions · May 31, 2026
Top 10: 12.5%·Holdings of SPLV
USMV
iShares MSCI USA Min Vol Factor ETF
Reported positions cover 100% of the fund, 165 positions · Jul 31, 2026
Top 10: 15.1%·Holdings of USMV
Reported positions cover SPLV 100%, USMV 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
USMV vs SPLV side by side
SPLVInvesco S&P 500 Low Volatility ETF
100
stock positions reported to the SEC
50.0% of its weight is in 51 names USMV does not hold
USMViShares MSCI USA Min Vol Factor ETF
165
stock positions reported to the SEC
62.6% of its weight is in 116 names SPLV does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Technology: USMV has 30.5 points more of it.
The figures side by side
| SPLV | USMV | |
|---|---|---|
| Filing date | May 31, 2026 | Jul 31, 2026 |
| Stock positions reported | 100 | 165 |
| Weight of the ten largest | 12.5% | 15.1% |
| Largest position | FE 1.3% | MSFT 1.6% |
| Held alone | 51 positions, 50.0% | 116 positions, 62.6% |
| Covered by stock positions | 100% | 100% |
Holdings they share
| Stock | In SPLV | In USMV | Counted |
|---|---|---|---|
| BRK.ABerkshire Hathaway Inc. | 1.28% | 1.47% | 1.28% |
| DUKDuke Energy Corp. | 1.25% | 1.45% | 1.25% |
| KOCoca-Cola Co. (The) | 1.18% | 1.28% | 1.18% |
| SOSouthern Co. (The) | 1.16% | 1.44% | 1.16% |
| JNJJohnson & Johnson | 1.15% | 1.54% | 1.15% |
| TJXTJX Cos., Inc. (The) | 1.13% | 1.11% | 1.11% |
| MCDMcDonald's Corp. | 1.16% | 1.10% | 1.10% |
| RSGRepublic Services, Inc. | 1.09% | 1.22% | 1.09% |
| EDConsolidated Edison, Inc. | 1.08% | 1.23% | 1.08% |
| CBChubb Ltd. | 1.06% | 1.54% | 1.06% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in SPLV
Only in USMV
Questions people ask
Is SPLV the same as USMV?
33.0% of their weight sits in the same 49 holdings. SPLV also reports FE, CNP, LNT, which the other does not. USMV also reports MSFT, APH, CSCO, which the other does not.
How is the overlap between SPLV and USMV measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 100% of SPLV and 100% of USMV, so the number cannot exceed the smaller coverage.
Which holds more, USMV or SPLV?
SPLV reports 100 stock positions and USMV reports 165. 50.0% of SPLV's weight sits in names USMV does not hold, and 62.6% of USMV's weight in names SPLV does not hold. The ten largest positions are 12.5% of SPLV and 15.1% of USMV.
How do SPLV and USMV differ by sector?
The widest gap is Technology: USMV has 30.5 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
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Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.