USMV alternatives and similar ETFs

USMV alternatives at a glance#

Each fund below can stand in for USMV, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How USMV and its alternatives did over the same dates#

Each row measures the alternative and USMV on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each USMV alternative, compared#

QUAL: iShares MSCI USA Quality Factor ETF#

QUAL also holds US stocks picked by rules for steady profits or smaller price swings. It tracks the MSCI USA Sector Neutral Quality Index, while USMV tracks the MSCI USA Minimum Volatility Index.

It charges 0.15% a year, about $15 on $10,000, against $15 for USMV. It held 118 stocks, against 174 for USMV.

From July 2013 to October 2026, QUAL returned about 13.6% a year and USMV returned about 10.7% a year. Over about the last five years they often moved together, but not always (correlation 0.83).

Read the QUAL fund page for its returns by year and worst drop.

VIG: Vanguard Dividend Appreciation ETF#

VIG is a looser match. It holds US companies that have raised their dividends for many years in a row, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.04% a year, about $4 on $10,000, against $15 for USMV. It held 333 stocks, against 174 for USMV.

From October 2011 to October 2026, VIG returned about 13.0% a year and USMV returned about 11.7% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the VIG fund page for its returns by year and worst drop.

DGRO: iShares Core Dividend Growth ETF#

DGRO is a looser match. It holds US companies that have raised their dividends for many years in a row, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.08% a year, about $8 on $10,000, against $15 for USMV. It held 391 stocks, against 174 for USMV.

From June 2014 to October 2026, DGRO returned about 12.4% a year and USMV returned about 10.6% a year. Over about the last five years they moved together on most days (correlation 0.92).

Read the DGRO fund page for its returns by year and worst drop.

DGRW: WisdomTree U.S. Quality Dividend Growth Fund#

DGRW is a looser match. It holds US companies that have raised their dividends for many years in a row, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.28% a year, about $28 on $10,000, against $15 for USMV. It held 199 stocks, against 174 for USMV.

From May 2013 to October 2026, DGRW returned about 13.0% a year and USMV returned about 10.6% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the DGRW fund page for its returns by year and worst drop.

SPYM: State Street SPDR Portfolio S&P 500 ETF#

SPYM is a looser match. It holds about 500 large US companies in the S&P 500, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.02% a year, about $2 on $10,000, against $15 for USMV. It held 505 stocks, against 174 for USMV.

From October 2011 to October 2026, SPYM returned about 15.1% a year and USMV returned about 11.7% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the SPYM fund page for its returns by year and worst drop.

IVV: iShares Core S&P 500 ETF#

IVV is a looser match. It holds about 500 large US companies in the S&P 500, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.03% a year, about $3 on $10,000, against $15 for USMV. It held 505 stocks, against 174 for USMV.

From October 2011 to October 2026, IVV returned about 15.0% a year and USMV returned about 11.7% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the IVV fund page for its returns by year and worst drop.

VOO: Vanguard S&P 500 ETF#

VOO is a looser match. It holds about 500 large US companies in the S&P 500, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.03% a year, about $3 on $10,000, against $15 for USMV. It held 505 stocks, against 174 for USMV.

From October 2011 to October 2026, VOO returned about 15.1% a year and USMV returned about 11.7% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the VOO fund page for its returns by year and worst drop.

SPY: State Street SPDR S&P 500 ETF Trust#

SPY is a looser match. It holds about 500 large US companies in the S&P 500, while USMV holds US stocks picked by rules for steady profits or smaller price swings.

It charges 0.0945% a year, about $9.45 on $10,000, against $15 for USMV. It held 504 stocks, against 174 for USMV.

From October 2011 to October 2026, SPY returned about 15.0% a year and USMV returned about 11.7% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the SPY fund page for its returns by year and worst drop.

USMV versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to USMV from each other company on this page:

• Vanguard: VIG, Vanguard Dividend Appreciation ETF (related fund, 0.04% a year)
• WisdomTree: DGRW, WisdomTree U.S. Quality Dividend Growth Fund (related fund, 0.28% a year)
• SPDR (State Street): SPYM, State Street SPDR Portfolio S&P 500 ETF (related fund, 0.02% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between USMV and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, USMV costs about $15 a year. SPYM costs about $2.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping USMV to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as QUAL, VIG or DGRO, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test USMV and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add USMV and QUAL, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as USMV. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like USMV over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with USMV only on days both traded. Read what a backtest simulates for more on these measures.