USMV vs DFUS overlap
USMV and DFUS overlap 33.4% by weight, across 157 shared holdings.
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Top shared holdings
| Holding | USMV | DFUS | Overlap |
|---|---|---|---|
| Microsoft Corp.MSFT | 1.62% | 4.99% | 1.62% |
| Berkshire HATH-BBRK/B | 1.47% | 1.38% | 1.38% |
| Nvidia Corp.NVDA | 1.32% | 6.75% | 1.32% |
| Broadcom Inc.AVGO | 1.02% | 2.63% | 1.02% |
| Exxon Mobil Corp.XOM | 1.39% | 0.93% | 0.93% |
| Johnson&JohnsonJNJ | 1.54% | 0.90% | 0.90% |
| Apple Inc.AAPL | 0.90% | 6.45% | 0.90% |
| VISA Inc.-Class aV | 1.00% | 0.88% | 0.88% |
| ELI Lilly & CoLLY | 0.78% | 1.33% | 0.78% |
| Walmart Inc.WMT | 0.71% | 0.71% | 0.71% |
| ADV Micro DeviceAMD | 0.69% | 1.12% | 0.69% |
| Mastercard Inc.-aMA | 1.26% | 0.68% | 0.68% |
| Cisco SystemsCSCO | 1.46% | 0.67% | 0.67% |
| Abbvie Inc.ABBV | 0.72% | 0.64% | 0.64% |
| Micron TechMU | 0.64% | 1.35% | 0.64% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: USMV, SEC Form N-PORT, July 31, 2026; DFUS, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | USMV | DFUS |
|---|---|---|
| Raymond James Financial Inc. | $1.4B | $139.8M |
| FMR LLC | $1.5B | $8.2M |
| Morgan Stanley | $1.4B | $25.1M |
| Bank of America Corp. | $1.2B | $145.2M |
| LPL Financial LLC | $767.2M | $279.2M |
| Focus Partners Wealth | $107.5M | $773.8M |
| Maseco LLP | $29K | $603.9M |
| Wealth Enhancement Advisory Services, LLC | $458.5M | $84.7M |
| Envestnet Asset Management Inc. | $363.0M | $117.1M |
| Mercer Global Advisors Inc. | $103.0M | $322.0M |
| PNC Financial Services Group, Inc. | $409.7M | $1.7M |
| Vise Technologies, Inc. | $7.1M | $396.5M |
| BlackRock, Inc. | $333.5M | $899K |
| Wells Fargo & Company | $327.6M | $1.1M |
| UBS Group AG | $300.9M | $18.3M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: USMV institutional holders, DFUS institutional holders.
Frequently asked questions
How much do USMV and DFUS overlap?
33.4% by weight, with 157 holdings in common, using holdings for USMV as of July 31, 2026 and DFUS as of July 31, 2026. The largest shared position is MSFT.
Do institutions hold both USMV and DFUS?
402 Form 13F filers report positions in both, out of 1,842 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.