DSTL vs IMCV: Grades, Fees and Holdings Compared

Distillate U.S. Fundamental Stability & Value ETF

DSTLCNYSE Arca

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Overlap

15.8%by weight

Expense ratio

IMCV −0.33pt a year

DSTL0.39%IMCV0.06%

Avg volume · 30D

DSTL 2.2×the volume

DSTL86.2KIMCV38.9K

5Y return · a year

DSTL +0.6pt

DSTL+11.4%IMCV+10.8%

DSTL vs IMCV Performance

Nov 2, 2021 – Nov 2, 2026

+71.7%DSTL+66.8%IMCV

Expense ratio: DSTL 0.39%; IMCV 0.06%, better
Fund size: DSTL $2.14B; IMCV $1.27B
1Y total return: DSTL +25.0%; IMCV +27.6%, better
Yield (12M): DSTL 1.03%; IMCV 1.83%, better
Holdings: DSTL 102; IMCV 271
Avg volume (30D): DSTL 86.2K sh, better; IMCV 38.9K sh
NAV per share: DSTL $69.57; IMCV $99.16
52W range

ETF.net Grade

Pillar letters and Scores for DSTL, IMCV, with each pillar’s weight
Pillar	DSTL	IMCV
Cost30% weight	D34	A96Higher
Mission25% weight	C45	A76Higher
Risk15% weight	B61	A77Higher
Tradability15% weight	A74Higher	B69
Holdings10% weight	B61	B69Higher
Durability5% weight	B60	A77Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. DSTL 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 DSTL 63rd 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 63CBFORBarron's 400 ETFScore 50
Rank 63CDSTLDistillate U.S. Fundamental Stability & Value ETFScore 50
Rank 63CSPVMInvesco S&P 500 Value with Momentum ETFScore 50

Our read on each fund

ETF.net Research

DSTLCDistillate U.S. Fundamental Stability & Value ETF

IMCVAiShares Morningstar Mid-Cap Value ETF

In short

DSTL Value, redefined by cash. DSTL screens large-cap America for low debt and steady cash flows, then buys the cheapest survivors on Distillate's normalized free-cash-flow measure rather than on P/E or book value.

IMCV No data

Stated mandate

DSTL The Fund seeks to track, before fees and expenses, the performance of the Distillate U.S. Fundamental Stability & Value Index.

IMCV No data

Why people hold it

DSTL Values companies on normalized free cash flow against enterprise value instead of P/E or book value, an approach aimed at a market full of intangible-heavy businesses.distillatecapital.com
Quality gate comes first: it starts from roughly 500 profitable large caps, then screens out high debt and unstable cash flows before valuation enters the picture.distillatecapital.com
Positions are weighted by free cash flow generation and rebalanced quarterly, so size follows cash produced rather than market cap. Distributions are paid quarterly.distillatecapital.com
Live since 2018 and now a multi-billion-dollar fund, so the process has a real record rather than a backtest.

IMCV No data

Worth knowing

DSTL At 0.39% it costs more than plain-vanilla value funds such as VONV (0.06%) and VYM (0.04%). You are paying for the cash-flow research.
The benchmark is Distillate's own index, so outcomes ride on one firm's proprietary cash-flow model rather than a widely used public rulebook.distillatecapital.com
Concentrated by design: a slim slice of the large-cap universe, weighted by cash flow, so sector mix can look very different from the S&P 500.distillatecapital.com

IMCV No data

Full DSTL profile⁠

Full IMCV profile⁠

DSTL vs IMCV Holdings

How DSTL and IMCV differ

Overlap by weight

15.8%

Shared holdings make up 37.5% of DSTL and 16.2% of IMCV.

Level by level

Holdings39 in both15.8%
Sector11 Sectors61.3%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in DSTL and IMCV, widest gap first
Sector	More in DSTLMore in IMCV	DSTL	IMCV
Technology	DSTL +17.7 points	24.2%	6.5%
Health Care	DSTL +10.3 points	22.5%	12.2%
Financials	IMCV +9.7 points	8.8%	18.5%
Energy	IMCV +8.4 points	5.0%	13.4%
Utilities	IMCV +7.8 points	1.2%	9.0%
Communication	DSTL +5.9 points	7.0%	1.1%
Consumer Discretionary	DSTL +4.7 points	11.6%	6.9%
Real Estate	IMCV +4.6 points	0.0%	4.6%
Consumer Staples	IMCV +3.8 points	4.9%	8.7%
Materials	IMCV +3.5 points	1.5%	5.0%
Industrials	IMCV +1.0 points	13.2%	14.2%

Country, concentration and asset class

Country by domicile

Country weights in DSTL and IMCV, widest gap first
Country	More in DSTLMore in IMCV	DSTL	IMCV
China	DSTL +0.7 points	1.0%	0.3%
Other countries (4)	IMCV +0.7 points	99.0%	99.7%

Concentration

Weight in the 10 largest Holdings

DSTL18.0%
IMCV13.2%

Securities held

DSTL101
IMCV268

Asset class

DSTL: Equity
IMCV: Equity

Holdings

Only in DSTL62
In both39
Only in IMCV229

Only in DSTL

62 securities, 62.4% of DSTL by weight

Accenture PLC2.22%
UnitedHealth Group Inc1.99%
AbbVie Inc1.98%
Merck & Co Inc1.89%
Salesforce Inc1.85%
Comcast Corp1.77%
Altria Group Inc1.51%
Lowe's Cos Inc1.48%
Booking Holdings Inc1.44%
Adobe Inc1.42%
Uber Technologies Inc1.41%
Intuit Inc1.35%
T-Mobile US Inc1.34%
FedEx Corp1.21%
Intercontinental Exchange Inc1.17%
Autodesk Inc1.14%
CME Group Inc1.14%
McKesson Corp1.12%
GoDaddy Inc1.08%
Vistra Corp1.03%
Tyler Technologies Inc1.01%
Gartner Inc1.00%
Carlisle Cos Inc0.98%
General Dynamics Corp0.98%
Best Buy Co Inc0.97%
Aon PLC0.97%
Masco Corp0.92%
Halozyme Therapeutics Inc0.89%
Boston Scientific Corp0.89%
EPAM Systems Inc0.88%
Crown Holdings Inc0.86%
Allegion plc0.85%
FactSet Research Systems Inc0.85%
Avery Dennison Corp0.84%
A O Smith Corp0.83%
Deckers Outdoor Corp0.83%
HubSpot Inc0.82%
ON Semiconductor Corp0.81%
Somnigroup International Inc0.81%
Toll Brothers Inc0.80%
Acuity Inc0.79%
Icon PLC0.79%
Align Technology Inc0.78%
Globus Medical Inc0.78%
AppLovin Corp0.78%
Neurocrine Biosciences Inc0.78%
TransUnion0.76%
Match Group Inc0.75%
Lennox International Inc0.74%
Owens Corning0.73%

Only in IMCV

229 securities, 83.7% of IMCV by weight

Valero Energy Corp1.57%
Phillips 661.54%
Us Bancorp1.27%
Pnc Financial Services Group1.24%
3M1.23%
Elevance Health Inc1.20%
Eog Resources1.19%
Mondelez International Class A1.14%
Travelers Companies1.13%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
General Motors1.05%
Hewlett Packard Enterprise1.00%
Target Corp0.96%
Cheniere Energy0.93%
Kinder Morgan0.91%
Oneok0.83%
Truist Financial0.82%
Devon Energy0.78%
Sempra0.77%
Dominion Energy0.77%
Aflac0.76%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
Delta Air Lines0.72%
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%
Occidental Petroleum 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%
Crh Public Limited PLC0.53%
Workday Class A0.53%
Bank of New York Mellon Corp0.52%
Air Products and Chemicals0.52%
Crown Castle Inc0.52%
Illinois Tool Inc0.52%
Biogen0.51%
Hartford Insurance Group0.50%

Weight gaps

All 39 Holdings in both funds, largest gap first.

Holding weights in DSTL and IMCV, widest gap first
Holding	More in DSTLMore in IMCV	DSTL	IMCV
Marathon Petroleum CorpMPC	DSTL +0.85 points	1.73%	0.88%
Arthur J Gallagher & CoAJG	DSTL +0.85 points	1.23%	0.38%
Permian Resources CorpPR	DSTL +0.84 points	1.11%	0.27%
United Therapeutics CorpUTHR	DSTL +0.81 points	0.94%	0.13%
Diamondback Energy IncFANG	DSTL +0.81 points	1.34%	0.53%
Cardinal Health IncCAH	DSTL +0.79 points	1.15%	0.36%
Zoetis IncZTS	DSTL +0.79 points	1.05%	0.26%
Constellation Brands IncSTZ	DSTL +0.72 points	0.99%	0.27%
PayPal Holdings IncPYPL	DSTL +0.70 points	1.37%	0.67%
TE Connectivity PLCTEL	DSTL +0.69 points	1.00%	0.31%
Omnicom Group IncOMC	DSTL +0.66 points	0.97%	0.31%
Copart IncCPRT	DSTL +0.66 points	0.80%	0.14%
Fox CorpFOXA	DSTL +0.66 points	0.83%	0.17%
Leidos Holdings IncLDOS	DSTL +0.64 points	0.88%	0.24%
Corpay IncCPAY	DSTL +0.61 points	0.79%	0.18%
Tenet Healthcare CorpTHC	DSTL +0.61 points	0.91%	0.30%
TechnipFMC PLCFTI	DSTL +0.61 points	0.73%	0.12%
Incyte CorpINCY	DSTL +0.60 points	0.76%	0.16%
Textron IncTXT	DSTL +0.59 points	0.72%	0.13%
PulteGroup IncPHM	DSTL +0.58 points	0.90%	0.32%
SS&C Technologies Holdings IncSSNC	DSTL +0.57 points	0.80%	0.23%
NVR IncNVR	DSTL +0.57 points	0.78%	0.21%
Cognizant Technology Solutions CorpCTSH	DSTL +0.54 points	0.94%	0.40%
Brown & Brown IncBRO	DSTL +0.52 points	0.79%	0.27%
Snap-on IncSNA	DSTL +0.51 points	0.66%	0.15%
CF Industries Holdings IncCF	DSTL +0.50 points	0.76%	0.26%
CDW Corp/DECDW	DSTL +0.48 points	0.75%	0.27%
ResMed IncRMD	DSTL +0.47 points	0.68%	0.21%
Broadridge Financial Solutions IncBR	DSTL +0.46 points	0.74%	0.28%
DR Horton IncDHI	DSTL +0.46 points	0.96%	0.50%
Marsh & McLennan Cos IncMRSH	DSTL +0.43 points	1.25%	0.82%
Sysco CorpSYY	DSTL +0.40 points	0.94%	0.54%
Automatic Data Processing IncADP	IMCV +0.37 points	1.23%	1.60%
Zoom Communications IncZM	DSTL +0.36 points	0.67%	0.31%
Cigna Group/TheCI	DSTL +0.33 points	1.37%	1.04%
Kroger Co/TheKR	DSTL +0.33 points	0.85%	0.52%
Regeneron Pharmaceuticals IncREGN	DSTL +0.29 points	1.54%	1.25%
Paychex IncPAYX	DSTL +0.27 points	0.76%	0.49%
PACCAR IncPCAR	DSTL +0.17 points	0.86%	0.69%

All 102 DSTL 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.

DSTL vs IMCV Cost

Overpaying DSTL vs IMCV

$6,628

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

DSTL 0.39%
$7,898
IMCV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

DSTL 0.39%
IMCV 0.06%
Overpaying

Year by year

Year	DSTL	IMCV	Overpaying
10	$705	$110	$595
20	$2,725	$432	$2,293
30	$7,898	$1,270	$6,628

Expense ratio

0.39%DSTL
0.06%IMCV, cheaper

IMCV0.06%DSTL0.39%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

DSTL 64th cheapest of 99 funds

DSTL vs IMCV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DSTL 1.03%; IMCV 1.83%, better
Payout (12M): DSTL $0.73; IMCV $1.83
Last payment: DSTL $0.17; IMCV $0.52
Ex-dividend: DSTL Sep 24, 2026; IMCV Sep 15, 2026
Paid on: DSTL Sep 25, 2026; IMCV Sep 18, 2026
Frequency: DSTL Quarterly; IMCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DSTLQuarterly · 26 paymentsAll DSTL payments⁠

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

DSTL vs IMCV Risk

Fall from peak · 5 years

DSTL
IMCV

Risk facts

VolatilityStd dev, 3 years: DSTL 14.8%IMCV 13.6%, better
Return per unit of riskSharpe ratio, 3 years: DSTL 0.94IMCV 1.22, better
Worst fallMax drawdown, 5 years: DSTL −20.1%IMCV −19.9%, better
Market sensitivityBeta, 5 years: DSTL 0.71IMCV 0.87; Market = 1

DSTL and IMCV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026DSTL

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DSTL vs IMCV

In short

Stated mandate

Why people hold it

Worth knowing

How DSTL and IMCV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DSTL

Only in IMCV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart