MTUM vs USMV Overlap
Both funds come from IShares. MTUM is an equity ETF, while USMV is an equity ETF. MTUM and USMV show meaningful overlap, with an estimated weighted overlap of 21.18%. They share 46 holdings in the loaded dataset, led by XOM, JNJ, and NVDA.
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Quick Answer
Both funds come from IShares. MTUM is an equity ETF, while USMV is an equity ETF. MTUM and USMV show meaningful overlap, with an estimated weighted overlap of 21.18%. They share 46 holdings in the loaded dataset, led by XOM, JNJ, and NVDA.
- 21.18% weighted overlap across 46 shared holdings.
- The top three shared holdings explain 21.3% of the measured overlap.
- MTUM and USMV are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- MTUM holdings
- Mar 12, 2026
- USMV holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
Both funds come from IShares. MTUM is an equity ETF, while USMV is an equity ETF. MTUM and USMV overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as XOM, JNJ, and NVDA, which explains why the score lands at 21.18%.
How They Differ
Both funds come from IShares. MTUM is an equity ETF, while USMV is an equity ETF. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. MTUM and USMV are priced very similarly on expense ratio.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 21.3% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
Because MTUM and USMV are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. MTUM and USMV are priced very similarly on expense ratio.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 21.3% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between MTUM and USMV.
| Holding | Name | MTUM Wt. | USMV Wt. | Overlap |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP | 3.77% | 1.52% | 1.52% |
| JNJ | JOHNSON & JOHNSON | 4.55% | 1.50% | 1.50% |
| NVDA | NVIDIA CORP | 4.91% | 1.50% | 1.50% |
| APH | AMPHENOL CORP CLASS A | 1.65% | 1.38% | 1.38% |
| NEM | NEWMONT | 1.43% | 1.24% | 1.24% |
| IBM | INTERNATIONAL BUSINESS MACHINES CO | 1.48% | 1.19% | 1.19% |
| TJX | TJX INC | 1.05% | 1.15% | 1.05% |
| LMT | LOCKHEED MARTIN CORP | 1.08% | 0.98% | 0.98% |
| GILD | GILEAD SCIENCES INC | 1.34% | 0.92% | 0.92% |
| MCK | MCKESSON CORP | 0.83% | 1.47% | 0.83% |
Why These ETFs Overlap
Both funds come from IShares. MTUM is an equity ETF, while USMV is an equity ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are XOM, JNJ, and NVDA, which appear in both portfolios and push the overlap score higher.
Holding both MTUM and USMV can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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Frequently Asked Questions About MTUM and USMV
What is the overlap between MTUM and USMV?+
How many holdings do MTUM and USMV share?+
Is the MTUM and USMV overlap high?+
Why do MTUM and USMV overlap?+
Which ETF is broader, MTUM or USMV?+
How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.