USMV is an equity ETF from IShares, while VOO is a U.S. large-cap core ETF from Vanguard. USMV and VOO show meaningful overlap, with an estimated weighted overlap of 34.89%. They share 154 holdings in the loaded dataset, led by NVDA, MSFT, and BRK.B.
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USMV is an equity ETF from IShares, while VOO is a U.S. large-cap core ETF from Vanguard. USMV and VOO show meaningful overlap, with an estimated weighted overlap of 34.89%. They share 154 holdings in the loaded dataset, led by NVDA, MSFT, and BRK.B.
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USMV is an equity ETF from IShares, while VOO is a U.S. large-cap core ETF from Vanguard. USMV and VOO overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as NVDA, MSFT, and BRK.B, which explains why the score lands at 34.89%.
USMV is an equity ETF from IShares, while VOO is a U.S. large-cap core ETF from Vanguard. VOO is the broader fund, while USMV is the more targeted sleeve. VOO has the lower expense ratio, while USMV charges more for its exposure.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 13.2% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
If you want the broader portfolio building block, VOO is usually the wider choice. If you want the more focused tilt, USMV is the narrower expression. VOO has the lower expense ratio, while USMV charges more for its exposure.
Concentration
The top three shared holdings explain 13.2% 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.
These are the holdings contributing the most to the overlap score between USMV and VOO.
| Holding | Name | USMV Wt. | VOO Wt. | Overlap |
|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | 1.63% | 7.58% | 1.63% |
| MSFT | MICROSOFT CORPORATION | 1.56% | 4.91% | 1.56% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 1.41% | 1.57% | 1.41% |
| 30231G102 | EXXON MOBIL CORPORATION | 1.60% | 1.27% | 1.27% |
| JNJ | JOHNSON & JOHNSON | 1.43% | 1.05% | 1.05% |
| V | VISA INC. | 0.94% | 0.89% | 0.89% |
| WMT | WALMART INC. | 0.87% | 0.97% | 0.87% |
| AAPL | APPLE INC. | 0.82% | 6.66% | 0.82% |
| MA | MASTERCARD INCORPORATED | 1.15% | 0.73% | 0.73% |
| LLY | ELI LILLY AND COMPANY | 0.66% | 1.30% | 0.66% |
USMV is an equity ETF from IShares, while VOO is a U.S. large-cap core ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NVDA, MSFT, and BRK.B, which appear in both portfolios and push the overlap score higher.
Holding both USMV and VOO 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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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.