USMV vs VUG Overlap
USMV is an equity ETF from IShares, while VUG is a U.S. growth equity ETF from Vanguard. USMV and VUG show limited overlap, with an estimated weighted overlap of 19.44%. They share 62 holdings in the loaded dataset, led by MSFT, NVDA, and MA.
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Quick Answer
USMV is an equity ETF from IShares, while VUG is a U.S. growth equity ETF from Vanguard. USMV and VUG show limited overlap, with an estimated weighted overlap of 19.44%. They share 62 holdings in the loaded dataset, led by MSFT, NVDA, and MA.
- 19.44% weighted overlap across 62 shared holdings.
- The top three shared holdings explain 21.53% of the measured overlap.
- USMV and VUG 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 can still add materially different exposure.
Data Freshness
- USMV holdings
- Mar 12, 2026
- VUG 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
USMV is an equity ETF from IShares, while VUG is a U.S. growth equity ETF from Vanguard. USMV and VUG do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like MSFT, NVDA, and MA.
How They Differ
USMV is an equity ETF from IShares, while VUG is a U.S. growth equity ETF from Vanguard. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VUG has the lower expense ratio, while USMV charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 21.53% 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 USMV and VUG are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VUG has the lower expense ratio, while USMV charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 21.53% 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 USMV and VUG.
| Holding | Name | USMV Wt. | VUG Wt. | Overlap |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | 1.53% | 9.60% | 1.53% |
| NVDA | NVIDIA CORP | 1.50% | 13.23% | 1.50% |
| MA | MASTERCARD INC CLASS A | 1.16% | 1.31% | 1.16% |
| V | VISA INC CLASS A | 0.88% | 1.60% | 0.88% |
| AAPL | APPLE INC | 0.78% | 11.50% | 0.78% |
| LLY | ELI LILLY | 0.70% | 2.66% | 0.70% |
| MCD | MCDONALDS CORP | 1.37% | 0.69% | 0.69% |
| CRM | SALESFORCE INC | 0.96% | 0.59% | 0.59% |
| APH | AMPHENOL CORP CLASS A | 1.38% | 0.55% | 0.55% |
| PLTR | PALANTIR TECHNOLOGIES INC CLASS A | 0.53% | 0.97% | 0.53% |
Why These ETFs Overlap
USMV is an equity ETF from IShares, while VUG is a U.S. growth equity ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are MSFT, NVDA, and MA, which appear in both portfolios and push the overlap score higher.
Holding both USMV and VUG can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About USMV and VUG
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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.