BMVP vs ILCV: Grades, Fees and Holdings Compared

Invesco Bloomberg MVP Multi-factor ETF

BMVPCNYSE Arca

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

12.5%by weight

Expense ratio

ILCV −0.25pt a year

BMVP0.29%ILCV0.04%

Avg volume · 30D

ILCV 27.1×the volume

BMVP900ILCV24.4K

10Y return · a year

ILCV +2.5pt

BMVP+9.8%ILCV+12.3%

BMVP vs ILCV Performance

Oct 29, 2021 – Oct 30, 2026

+43.1%BMVP+81.1%ILCV

Expense ratio: BMVP 0.29%; ILCV 0.04%, better
Fund size: BMVP $104M; ILCV $1.37B
1Y total return: BMVP +14.9%; ILCV +21.0%, better
Yield (12M): BMVP 1.75%, better; ILCV 1.51%
Holdings: BMVP 57; ILCV 375
Avg volume (30D): BMVP 900 sh; ILCV 24.4K sh, better
NAV per share: BMVP $54.30; ILCV $109.27
52W range

ETF.net Grade

Pillar letters and Scores for BMVP, ILCV, with each pillar’s weight
Pillar	BMVP	ILCV
Cost30% weight	B55	A99Higher
Mission25% weight	B55	A82Higher
Risk15% weight	A71	A90Higher
Tradability15% weight	D33	B64Higher
Holdings10% weight	B55Higher	D39
Durability5% weight	B62	A82Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. BMVP and ILCV 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 ›

ILCV ranks 2nd and BMVP 52nd 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 50BPSCPrincipal U.S. Small-Cap Multi-Factor ETFScore 55
Rank 52CBMVPInvesco Bloomberg MVP Multi-factor ETFScore 54
Rank 53CFTCSFirst Trust Capital Strength ETFScore 53

Our read on each fund

ETF.net Research

BMVPCInvesco Bloomberg MVP Multi-factor ETF

ILCVAiShares Morningstar Value ETF

In short

BMVP Four factors (low volatility, momentum, profitability, value) packed into roughly 60 US stocks, tracking Bloomberg's MVP Index for 0.29% a year. A compact multi-factor blend from Invesco that almost nobody talks about.

ILCV Value done the thorough way: roughly 400 large- and mid-cap US stocks screened on five separate value measures, not just cheap book value. Running since 2004 at four basis points, it's one of the cheapest tickets into the value factor.

Stated mandate

BMVP The Fund seeks to track the investment results of the Bloomberg MVP Index before fees and expenses.

ILCV The fund seeks to track an index of U.S. large- and mid-cap stocks selected with value-oriented measures including forward earnings, book value, sales, cash flow, and dividend yield.

Why people hold it

BMVP Four factors in one ticker: low volatility, momentum, profitability and value, blended inside the Bloomberg MVP Index instead of you stitching together four separate funds.
0.29% a year sits under the median fee in the multi-factor crowd, modest for a rules-based blend that does the mixing for you.
Roughly 60 US stocks, so the factor tilts show up in the portfolio rather than getting watered down across hundreds of names. Distributions come quarterly.

ILCV Charges 0.04% a year against a 0.32% median for its factor peer group. Undercuts well-regarded rivals like VONV (0.06%) and FNDX (0.25%).
Value gets defined five ways: forward earnings, book value, sales, cash flow and dividend yield. Wider lens than a single price-to-book screen.ishares.com
Spreads the bet across about 400 large- and mid-cap names and distributes quarterly.
Trading since 2004 and now a multi-billion-dollar fund, it ranks among the strongest implementations in its factor cohort.

Worth knowing

BMVP Thinly traded and small by ETF standards, which typically means wider bid-ask spreads and more cost around the trade itself.
Plain single-factor index funds cost far less: VYM at 0.04%, VONV at 0.06%. The extra fee here buys the four-factor recipe.
It lands in the lower half of its multi-factor peer group, and how lightly it trades is the biggest drag on that standing.

ILCV One of the quieter tickers in its category. Thin volume means spreads matter more here than on a mega-cap index fund, and limit orders are the usual tool.
Value-only by design. It skips the market's priciest growth leaders, so it moves differently from a total-market fund in both directions.ishares.com
Large and mid caps only. Small-cap value sits outside the mandate.

Full BMVP profile⁠

Full ILCV profile⁠

BMVP vs ILCV Holdings

How BMVP and ILCV differ

Overlap by weight

12.5%

Shared holdings make up 87.1% of BMVP and 18.0% of ILCV.

Level by level

Holdings47 in both12.5%
Sector11 Sectors84.9%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in BMVP and ILCV, widest gap first
Sector	More in BMVPMore in ILCV	BMVP	ILCV
Technology	ILCV +8.3 points	15.6%	23.9%
Industrials	BMVP +7.1 points	14.0%	6.9%
Materials	BMVP +3.2 points	5.3%	2.1%
Real Estate	BMVP +2.9 points	4.6%	1.7%
Consumer Staples	ILCV +2.1 points	5.2%	7.3%
Health Care	ILCV +1.7 points	11.7%	13.4%
Financials	ILCV +1.6 points	16.1%	17.7%
Utilities	BMVP +1.3 points	4.3%	3.0%
Communication	ILCV +1.2 points	7.6%	8.8%
Consumer Discretionary	BMVP +0.6 points	9.2%	8.6%
Energy	ILCV +0.4 points	6.2%	6.6%

Country, concentration and asset class

Country by domicile

Country weights in BMVP and ILCV, widest gap first
Country	More in BMVPMore in ILCV	BMVP	ILCV
United States	BMVP +0.8 points	100.0%	99.2%
Other countries (5)	ILCV +0.8 points	0.0%	0.8%

Concentration

Weight in the 10 largest Holdings

BMVP20.0%
ILCV34.4%

Securities held

BMVP56
ILCV372

Asset class

BMVP: Equity
ILCV: Equity

Holdings

Only in BMVP9
In both47
Only in ILCV325

Only in BMVP

9 securities, 12.8% of BMVP by weight

Ball Corp1.99%
Best Buy Co Inc1.96%
Becton Dickinson & Co1.91%
Warner Music Group Corp1.90%
WW Grainger Inc1.90%
Jabil Inc1.73%
Fortinet Inc1.34%
Invesco Government & Agency Portfolio0.01%
Securities Lending - Bnym0.00%

Only in ILCV

325 securities, 81.8% of ILCV by weight

Microsoft8.45%
Amazon.com Inc3.08%
Berkshire Hathaway Inc Class B2.84%
JPMorgan Chase & Co2.60%
Meta Platforms Class A2.50%
Exxonmobil Holdings Corp2.14%
Alphabet Class A2.04%
Alphabet Class C1.65%
AbbVie1.46%
Micron Technology1.35%
Tesla Inc1.24%
Chevron1.23%
Procter & Gamble1.06%
UnitedHealth Group1.05%
Merck & Co Inc1.03%
Visa Class A1.00%
Bank of America0.94%
Home Depot0.93%
Philip Morris International0.92%
Walmart0.91%
Goldman Sachs Group0.77%
Rtx0.76%
Thermo Fisher Scientific0.75%
Wells Fargo0.73%
Amgen Inc0.71%
Costco Wholesale Corp0.71%
International Business Machines Co0.69%
Linde PLC0.66%
Morgan Stanley0.64%
Mastercard Class A0.63%
Citigroup0.60%
Gilead Sciences0.58%
Qualcomm0.56%
Walt Disney0.54%
Salesforce0.52%
Mcdonalds Corp0.52%
Abbott Laboratories0.51%
Conocophillips0.51%
Union Pacific0.51%
Nextera Energy0.49%
BlackRock0.46%
Texas Instrument0.45%
Danaher0.43%
Accenture PLC Class A0.43%
AT&T0.41%
Caterpillar Inc0.38%
Progressive0.38%
Altria Group Inc0.36%
Chubb0.36%
Capital One Financial Corp0.36%

Weight gaps

All 47 Holdings in both funds, largest gap first.

Holding weights in BMVP and ILCV, widest gap first
Holding	More in BMVPMore in ILCV	BMVP	ILCV
Apple IncAAPL	ILCV +5.43 points	1.81%	7.24%
CDW Corp/DECDW	BMVP +2.16 points	2.22%	0.06%
Nucor CorpNUE	BMVP +1.96 points	2.03%	0.07%
Darden Restaurants IncDRI	BMVP +1.93 points	1.97%	0.04%
Williams-Sonoma IncWSM	BMVP +1.92 points	1.97%	0.05%
Allstate Corp/TheALL	BMVP +1.90 points	1.99%	0.09%
Packaging Corp of AmericaPKG	BMVP +1.89 points	1.92%	0.03%
Cardinal Health IncCAH	BMVP +1.88 points	1.95%	0.07%
CSX CorpCSX	BMVP +1.85 points	1.94%	0.09%
DTE Energy CoDTE	BMVP +1.83 points	1.91%	0.08%
Evergy IncEVRG	BMVP +1.82 points	1.88%	0.06%
Expeditors International of Washington IncEXPD	BMVP +1.82 points	1.85%	0.03%
Paychex IncPAYX	BMVP +1.82 points	1.92%	0.10%
Expedia Group IncEXPE	BMVP +1.81 points	1.85%	0.04%
Synchrony FinancialSYF	BMVP +1.80 points	1.87%	0.07%
Quest Diagnostics IncDGX	BMVP +1.79 points	1.87%	0.08%
FirstEnergy CorpFE	BMVP +1.79 points	1.86%	0.07%
Illinois Tool Works IncITW	BMVP +1.78 points	1.89%	0.11%
VICI Properties IncVICI	BMVP +1.76 points	1.84%	0.08%
Simon Property Group IncSPG	BMVP +1.75 points	1.85%	0.10%
United Parcel Service IncUPS	BMVP +1.75 points	1.98%	0.23%
Raymond James Financial IncRJF	BMVP +1.72 points	1.76%	0.04%
NetApp IncNTAP	BMVP +1.71 points	1.79%	0.08%
Sysco CorpSYY	BMVP +1.72 points	1.83%	0.11%
Marathon Petroleum CorpMPC	BMVP +1.71 points	1.89%	0.18%
General Motors CoGM	BMVP +1.71 points	1.92%	0.21%
T Rowe Price Group IncTROW	BMVP +1.71 points	1.77%	0.06%
MetLife IncMET	BMVP +1.70 points	1.85%	0.15%
Mid-America Apartment Communities IncMAA	BMVP +1.69 points	1.73%	0.04%
Travelers Cos Inc/TheTRV	BMVP +1.69 points	1.93%	0.24%
Principal Financial Group IncPFG	BMVP +1.68 points	1.75%	0.07%
Ameriprise Financial IncAMP	BMVP +1.68 points	1.75%	0.07%
HP IncHPQ	BMVP +1.68 points	1.76%	0.08%
Ross Stores IncROST	BMVP +1.66 points	1.72%	0.06%
3M CoMMM	BMVP +1.60 points	1.86%	0.26%
Automatic Data Processing IncADP	BMVP +1.59 points	1.91%	0.32%
Phillips 66PSX	BMVP +1.54 points	1.85%	0.31%
Adobe IncADBE	BMVP +1.50 points	1.78%	0.28%
American Express CoAXP	BMVP +1.49 points	1.84%	0.35%
Valero Energy CorpVLO	BMVP +1.40 points	1.71%	0.31%
Bristol-Myers Squibb CoBMY	BMVP +1.34 points	1.70%	0.36%
Pfizer IncPFE	BMVP +1.32 points	1.81%	0.49%
PepsiCo IncPEP	BMVP +1.30 points	1.82%	0.52%
Verizon Communications IncVZ	BMVP +1.12 points	1.64%	0.52%
Coca-Cola Co/TheKO	BMVP +0.83 points	1.86%	1.03%
Cisco Systems IncCSCO	BMVP +0.52 points	1.74%	1.22%
Johnson & JohnsonJNJ	ILCV +0.10 points	1.79%	1.89%

All 55 BMVP holdings⁠All 372 ILCV 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.

BMVP vs ILCV Cost

Overpaying BMVP vs ILCV

$5,103

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

BMVP 0.29%
$5,952
ILCV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

BMVP 0.29%
ILCV 0.04%
Overpaying

Year by year

Year	BMVP	ILCV	Overpaying
10	$527	$73	$454
20	$2,044	$288	$1,756
30	$5,952	$849	$5,103

Expense ratio

0.29%BMVP
0.04%ILCV, cheaper

ILCV0.04%BMVP0.29%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

BMVP 43rd cheapest of 99 funds

BMVP vs ILCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BMVP 1.75%, better; ILCV 1.51%
Payout (12M): BMVP $0.95; ILCV $1.65
Last payment: BMVP $0.25; ILCV $0.42
Ex-dividend: BMVP Sep 21, 2026; ILCV Sep 15, 2026
Paid on: BMVP Sep 25, 2026; ILCV Sep 18, 2026
Frequency: BMVP Quarterly; ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BMVPQuarterly · 38 paymentsAll BMVP payments⁠

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

BMVP vs ILCV Risk

Fall from peak · 5 years

BMVP
ILCV

Risk facts

VolatilityStd dev, 3 years: BMVP 12.4%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years: BMVP 1.01ILCV 1.57, better
Worst fallMax drawdown, 5 years: BMVP −26.6%ILCV −18.6%, better
Market sensitivityBeta, 5 years: BMVP 0.72ILCV 0.82; Market = 1

Popular comparisons

BMVPCvsVONVA
Invesco Bloomberg MVP Multi-factor ETF · Vanguard Russell 1000 Value ETF
Expense ratio
0.29% · 0.06%
Category
ILCVAvsVONVA
iShares Morningstar Value ETF · Vanguard Russell 1000 Value ETF
Expense ratio
0.04% · 0.06%
Category
BMVPCvsVYMA
Invesco Bloomberg MVP Multi-factor ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.29% · 0.04%
Category
ILCVAvsVYMA
iShares Morningstar Value ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.04% · 0.04%
Category
BMVPCvsIMCVA
Invesco Bloomberg MVP Multi-factor ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.29% · 0.06%
Category
ILCVAvsIMCVA
iShares Morningstar Value ETF · iShares Morningstar Mid-Cap Value ETF
Expense ratio
0.04% · 0.06%
Category