BFOR vs IMCV: Grades, Fees and Holdings Compared

Barron's 400 ETF

BFORCNYSE Arca

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Overlap

12.9%by weight

Expense ratio

IMCV −0.59pt a year

BFOR0.65%IMCV0.06%

Avg volume · 30D

IMCV 1.1×the volume

BFOR35.3KIMCV38.9K

10Y return · a year

BFOR +1.5pt

BFOR+12.6%IMCV+11.1%

BFOR vs IMCV Performance

Oct 29, 2021 – Oct 30, 2026

+57.3%BFOR+68.3%IMCV

Expense ratio: BFOR 0.65%; IMCV 0.06%, better
Fund size: BFOR $241M; IMCV $1.27B
1Y total return: BFOR +18.0%; IMCV +27.0%, better
Yield (12M): BFOR 0.52%; IMCV 1.84%, better
Holdings: BFOR 401; IMCV 271
Avg volume (30D): BFOR 35.3K sh; IMCV 38.9K sh, better
NAV per share: BFOR $23.42; IMCV $99.16
52W range

ETF.net Grade

Pillar letters and Scores for BFOR, IMCV, with each pillar’s weight
Pillar	BFOR	IMCV
Cost30% weight	F7	A96Higher
Mission25% weight	A100Higher	A76
Risk15% weight	C48	A77Higher
Tradability15% weight	C46	B69Higher
Holdings10% weight	A87Higher	B69
Durability5% weight	C48	A77Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. BFOR and IMCV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

IMCV ranks 4th and BFOR 56th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 4AIMCViShares Morningstar Mid-Cap Value ETFScore 80
Rank 5ADCORU.S. Core Equity 1 Portfolio ETF Class SharesScore 79
Rank 56CAUSFGlobal X Adaptive U.S. Factor ETFScore 52
Rank 56CBFORBarron's 400 ETFScore 52
Rank 56CFLQSFranklin U.S. Small Cap Multifactor Index ETFScore 52

Our read on each fund

ETF.net Research

BFORCBarron's 400 ETF

IMCVAiShares Morningstar Mid-Cap Value ETF

In short

BFOR A famous stock list turned into a fund. BFOR follows the Barron's 400 Index, a rules-based screen for growth at a reasonable price plus quality in US stocks, and it has run that playbook since 2013.

IMCV No data

Stated mandate

BFOR The fund seeks to track the performance of the Barron's 400 Index before fees and expenses.

IMCV No data

Why people hold it

BFOR Tracks the Barron's 400 Index tightly. For a rules-based fund that is the whole job, and this one does it with very little drift.alpsfunds.com
One basket, roughly 400 US companies, screened for growth at a reasonable price plus quality. No single name carries the portfolio.
Live since 2013, so the screen has been through real markets rather than a backtest deck.

IMCV No data

Worth knowing

BFOR At 0.65% a year, it charges about double the typical US multifactor fund, and well above big rivals like FNDX (0.25%) or VONV (0.06%).
Thinly traded. Spreads can widen, so limit orders matter more here than with the mega-funds in the category.
Sits in the lower half of its US multifactor peer group, driven by cost and trading friction rather than by how it follows its index.

IMCV No data

Full BFOR profile⁠

Full IMCV profile⁠

BFOR vs IMCV Holdings

How BFOR and IMCV differ

Overlap by weight

12.9%

Shared holdings make up 24.6% of IMCV and 14.6% of BFOR.

Level by level

Holdings57 in both12.9%
Sector11 Sectors79.0%
Countryby domicile98.9%
Asset classEquity100%

Sector

Sector weights in BFOR and IMCV, widest gap first
Sector	More in BFORMore in IMCV	BFOR	IMCV
Technology	BFOR +13.3 points	19.8%	6.5%
Utilities	IMCV +8.5 points	0.5%	9.0%
Consumer Staples	IMCV +5.0 points	3.7%	8.7%
Real Estate	IMCV +4.6 points	0.0%	4.6%
Consumer Discretionary	BFOR +3.4 points	10.3%	6.9%
Energy	IMCV +3.0 points	10.4%	13.4%
Financials	BFOR +1.9 points	20.4%	18.5%
Communication	BFOR +1.7 points	2.8%	1.1%
Industrials	BFOR +0.5 points	14.7%	14.2%
Health Care	BFOR +0.1 points	12.3%	12.2%
Materials	BFOR +0.1 points	5.1%	5.0%

Country, concentration and asset class

Country by domicile

Country weights in BFOR and IMCV, widest gap first
Country	More in BFORMore in IMCV	BFOR	IMCV
United States	BFOR +0.6 points	99.3%	98.7%
Other countries (6)	IMCV +0.6 points	0.7%	1.3%

Concentration

Weight in the 10 largest Holdings

BFOR3.6%
IMCV13.2%

Securities held

BFOR400
IMCV268

Asset class

BFOR: Equity
IMCV: Equity

Holdings

Only in BFOR343
In both57
Only in IMCV211

Only in BFOR

343 securities, 84.9% of BFOR by weight

CareDx Inc.0.42%
Figs Inc.0.38%
OneSpan Inc.0.36%
Crocs Inc.0.34%
Hasbro Inc.0.33%
Qualys Inc.0.32%
Hayward Holdings Inc.0.31%
ADMA Biologics Inc.0.31%
Eli Lilly & Co.0.31%
Exelixis Inc.0.31%
Riley Exploration Permian Inc.0.31%
SharkNinja Inc.0.31%
Amgen Inc.0.30%
Halozyme Therapeutics Inc.0.30%
Veracyte Inc.0.30%
Lockheed Martin Corp.0.30%
Hinge Health Inc.0.30%
Royal Caribbean Cruises Ltd.0.30%
Paycom Software Inc.0.30%
Veeva Systems Inc.0.29%
CBOE Holdings Inc.0.29%
Urban Outfitters Inc.0.29%
NerdWallet Inc.0.29%
APA Corp.0.29%
Cadence Design Systems Inc.0.29%
Manhattan Associates Inc.0.29%
Abercrombie & Fitch Co.0.29%
Exponent Inc.0.29%
Paylocity Holding Corp.0.29%
Analog Devices Inc.0.29%
WD-40 Co.0.29%
Ligand Pharmaceuticals Inc.0.29%
Texas Instruments Inc.0.29%
Ralph Lauren Corp.0.29%
Intuitive Surgical Inc.0.28%
Rocky Brands Inc.0.28%
Rigel Pharmaceuticals Inc.0.28%
DHT Holdings Inc.0.28%
ConocoPhillips0.28%
BJ's Wholesale Club Holdings Inc.0.28%
H&R Block Inc.0.28%
GoDaddy Inc.0.28%
Innovative Solutions and Support Inc.0.28%
Ardmore Shipping Corp.0.28%
Mastercard Inc.0.28%
TJX Cos. Inc.0.28%
Chevron Corp.0.28%
Levi Strauss & Co.0.28%
Encompass Health Corp.0.28%
Sezzle Inc.0.28%

Only in IMCV

211 securities, 75.3% of IMCV by weight

Automatic Data Processing Inc1.60%
Regeneron Pharmaceuticals1.25%
3M1.23%
Elevance Health Inc1.20%
Mondelez International Class A1.14%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
General Motors1.05%
Cigna1.04%
Target Corp0.96%
Cheniere Energy0.93%
Kinder Morgan0.91%
Oneok0.83%
Truist Financial0.82%
Marsh0.82%
Sempra0.77%
Dominion Energy0.77%
Aflac0.76%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
Delta Air Lines0.72%
Paccar Inc0.69%
Colgate-Palmolive0.69%
Xcel Energy Inc0.68%
Keurig Dr Pepper Inc0.66%
Ford Motor Co0.66%
Strategy Inc Class A0.65%
Exelon Corp0.65%
Northrop Grumman Corp0.64%
Nike Class B0.62%
Iqvia Holdings Inc0.60%
Consolidated Edison0.59%
Norfolk Southern Corp0.59%
American Electric Power Inc0.56%
American International Group0.56%
Prudential Financial Inc0.55%
Sysco0.54%
Crh Public Limited PLC0.53%
Workday Class A0.53%
Diamondback Energy0.53%
Bank of New York Mellon Corp0.52%
Air Products and Chemicals0.52%
Kroger0.52%
Crown Castle Inc0.52%
Illinois Tool Inc0.52%
Biogen0.51%
D R Horton0.50%
Emerson Electric0.49%

Weight gaps

All 57 Holdings in both funds, largest gap first.

Holding weights in BFOR and IMCV, widest gap first
Holding	More in BFORMore in IMCV	BFOR	IMCV
Valero Energy Corp.VLO	IMCV +1.31 points	0.26%	1.57%
Phillips 66PSX	IMCV +1.27 points	0.27%	1.54%
US BancorpUSB	IMCV +1.03 points	0.24%	1.27%
PNC Financial Services Group Inc.PNC	IMCV +1.01 points	0.23%	1.24%
EOG Resources Inc.EOG	IMCV +0.91 points	0.28%	1.19%
Travelers Cos. Inc.TRV	IMCV +0.87 points	0.26%	1.13%
Hewlett Packard Enterprise Co.HPE	IMCV +0.75 points	0.25%	1.00%
Marathon Petroleum Corp.MPC	IMCV +0.60 points	0.28%	0.88%
Devon Energy Corp.DVN	IMCV +0.52 points	0.26%	0.78%
PayPal Holdings Inc.PYPL	IMCV +0.41 points	0.26%	0.67%
Occidental Petroleum Corp.OXY	IMCV +0.38 points	0.26%	0.64%
Dell Technologies Inc.DELL	IMCV +0.28 points	0.20%	0.48%
The Hartford Financial Services Group Inc.HIG	IMCV +0.26 points	0.24%	0.50%
Paychex Inc.PAYX	IMCV +0.25 points	0.24%	0.49%
PTC Inc.PTC	BFOR +0.26 points	0.36%	0.10%
M&T Bank Corp.MTB	IMCV +0.21 points	0.23%	0.44%
Targa Resources Corp.TRGP	IMCV +0.21 points	0.27%	0.48%
Allstate Corp.ALL	IMCV +0.20 points	0.25%	0.45%
eBay Inc.EBAY	IMCV +0.18 points	0.28%	0.46%
United Therapeutics Corp.UTHR	BFOR +0.17 points	0.30%	0.13%
Cognizant Technology Solutions Corp.CTSH	IMCV +0.15 points	0.25%	0.40%
Tapestry Inc.TPR	BFOR +0.14 points	0.25%	0.11%
Ulta Beauty Inc.ULTA	BFOR +0.13 points	0.29%	0.16%
Albemarle Corp.ALB	BFOR +0.13 points	0.20%	0.07%
Steel Dynamics Inc.STLD	BFOR +0.13 points	0.27%	0.14%
TechnipFMC PLCFTI	BFOR +0.12 points	0.24%	0.12%
Roper Technologies Inc.ROP	IMCV +0.11 points	0.30%	0.41%
Ameriprise Financial Inc.AMP	IMCV +0.12 points	0.22%	0.34%
First Citizens BancShares Inc.FCNCA	BFOR +0.11 points	0.28%	0.17%
Synchrony FinancialSYF	IMCV +0.09 points	0.25%	0.34%
Expeditors International of Washington Inc.EXPD	BFOR +0.09 points	0.26%	0.17%
Incyte Corp.INCY	BFOR +0.09 points	0.25%	0.16%
NetApp Inc.NTAP	IMCV +0.08 points	0.26%	0.34%
F5 Inc.FFIV	BFOR +0.08 points	0.21%	0.13%
Zoom Communications Inc.ZM	IMCV +0.06 points	0.25%	0.31%
Fox Corp.FOXA	BFOR +0.06 points	0.23%	0.17%
Cincinnati Financial Corp.CINF	BFOR +0.06 points	0.26%	0.20%
T Rowe Price Group Inc.TROW	IMCV +0.06 points	0.24%	0.30%
Dollar Tree Inc.DLTR	IMCV +0.05 points	0.28%	0.33%
Nucor Corp.NUE	IMCV +0.05 points	0.27%	0.32%
ResMed Inc.RMD	BFOR +0.05 points	0.26%	0.21%
Agilent Technologies Inc.A	IMCV +0.05 points	0.30%	0.35%
Expedia Inc.EXPE	BFOR +0.05 points	0.25%	0.20%
Tenet Healthcare Corp.THC	IMCV +0.04 points	0.26%	0.30%
Edison InternationalEIX	IMCV +0.04 points	0.26%	0.30%
Broadridge Financial Solutions Inc.BR	IMCV +0.03 points	0.25%	0.28%
Leidos Holdings Inc.LDOS	BFOR +0.03 points	0.27%	0.24%
CF Industries Holdings Inc.CF	IMCV +0.03 points	0.23%	0.26%
Fidelity National Information Services Inc.FIS	IMCV +0.02 points	0.25%	0.27%
Coeur Mining Inc.CDE	IMCV +0.03 points	0.16%	0.19%
Ross Stores Inc.ROST	IMCV +0.02 points	0.25%	0.27%
SS&C Technologies Holdings Inc.SSNC	BFOR +0.02 points	0.25%	0.23%
Carnival Corp.CCL	BFOR +0.01 points	0.32%	0.31%
Ovintiv Inc.OVV	BFOR +0.01 points	0.28%	0.27%
Zoetis Inc.ZTS	BFOR +0.01 points	0.27%	0.26%
East West Bancorp Inc.EWBC	Same weight	0.25%	0.25%
Permian Resources Corp.PR	Same weight	0.27%	0.27%

All BFOR holdings⁠All 268 IMCV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BFOR vs IMCV Cost

Overpaying BFOR vs IMCV

$11,447

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BFOR 0.65%
$12,717
IMCV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

BFOR 0.65%
IMCV 0.06%
Overpaying

Year by year

Year	BFOR	IMCV	Overpaying
10	$1,163	$110	$1,053
20	$4,440	$432	$4,008
30	$12,717	$1,270	$11,447

Expense ratio

0.65%BFOR
0.06%IMCV, cheaper

IMCV0.06%BFOR0.65%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

BFOR 91st cheapest of 99 funds

BFOR vs IMCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BFOR 0.52%; IMCV 1.84%, better
Payout (12M): BFOR $0.12; IMCV $1.83
Last payment: BFOR $0.12; IMCV $0.52
Ex-dividend: BFOR Dec 18, 2025; IMCV Sep 15, 2026
Paid on: BFOR Dec 23, 2025; IMCV Sep 18, 2026
Frequency: BFOR Annual; IMCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BFORAnnual · 10 paymentsAll BFOR payments⁠

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

BFOR vs IMCV Risk

Fall from peak · 5 years

BFOR
IMCV

Risk facts

VolatilityStd dev, 3 years: BFOR 14.8%IMCV 13.6%, better
Return per unit of riskSharpe ratio, 3 years: BFOR 1.09IMCV 1.22, better
Worst fallMax drawdown, 5 years: BFOR −25.9%IMCV −19.9%, better
Market sensitivityBeta, 5 years: BFOR 1.03IMCV 0.88; Market = 1

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