FCPI vs ILCV: Grades, Fees and Holdings Compared

Fidelity Stocks for Inflation ETF

FCPIBCboe

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

28.4%by weight

Expense ratio

ILCV −0.11pt a year

FCPI0.15%ILCV0.04%

Avg volume · 30D

ILCV 1.2×the volume

FCPI19.7KILCV24.4K

5Y return · a year

FCPI +0.7pt

FCPI+13.3%ILCV+12.6%

FCPI vs ILCV Performance

Oct 29, 2021 – Oct 30, 2026

+86.8%FCPI+81.1%ILCV

Expense ratio: FCPI 0.15%; ILCV 0.04%, better
Fund size: FCPI $282M; ILCV $1.37B
1Y total return: FCPI +13.6%; ILCV +21.0%, better
Yield (12M): FCPI 1.53%, better; ILCV 1.51%
Holdings: FCPI 102; ILCV 375
Avg volume (30D): FCPI 19.7K sh; ILCV 24.4K sh, better
NAV per share: FCPI $55.83; ILCV $109.27
52W range

ETF.net Grade

Pillar letters and Scores for FCPI, ILCV, with each pillar’s weight
Pillar	FCPI	ILCV
Cost30% weight	A83	A99Higher
Mission25% weight	A80	A82Higher
Risk15% weight	B59	A90Higher
Tradability15% weight	C42	B64Higher
Holdings10% weight	D30	D39Higher
Durability5% weight	C41	A82Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FCPI 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 FCPI 35th 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 32BULVMVictoryShares US Value Momentum ETFScore 66
Rank 35BFCPIFidelity Stocks for Inflation ETFScore 65
Rank 35BGSSCGoldman Sachs ActiveBeta U.S. Small Cap Equity ETFScore 65

Our read on each fund

ETF.net Research

FCPIBFidelity Stocks for Inflation ETF

ILCVAiShares Morningstar Value ETF

In short

FCPI A multifactor fund with an inflation twist: value, quality and momentum screens first, then a tilt toward industries that tend to outperform when prices are rising. All for 0.15% a year.

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

FCPI The fund seeks investment returns that generally correspond, before fees and expenses, to the performance of the Fidelity Stocks for Inflation Factor IndexSM.

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

FCPI 0.15% a year, under half the 0.32% median for multifactor peers. The factor tilt isn't being eaten by the fee.
Value, quality and momentum is table stakes. The inflation overlay, emphasizing industries that tend to outperform in inflationary environments, is what sets this one apart.sec.gov
Live since 2019 and one of the stronger implementations in a crowded multifactor field, with a rules-based Fidelity index doing the picking.
About 100 large and mid-cap US stocks, paying quarterly.sec.gov

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

FCPI It trades thinly. Spreads can run wider than on heavily traded peers like VYM or IUSG, which matters most on larger orders.
Roughly 100 names, not 500. Single stocks and the industry tilts carry real weight, so results can drift from the broad market.
The benchmark is Fidelity's own proprietary index rather than a third-party one, and the inflation screen has only been running in live markets since 2019.sec.gov

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 FCPI profile⁠

Full ILCV profile⁠

FCPI vs ILCV Holdings

How FCPI and ILCV differ

Overlap by weight

28.4%

Shared holdings make up 61.4% of FCPI and 36.2% of ILCV.

Level by level

Holdings50 in both28.4%
Sector11 Sectors77.8%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in FCPI and ILCV, widest gap first
Sector	More in FCPIMore in ILCV	FCPI	ILCV
Financials	ILCV +11.1 points	6.6%	17.7%
Technology	FCPI +8.2 points	32.1%	23.9%
Materials	FCPI +5.5 points	7.6%	2.1%
Consumer Discretionary	ILCV +4.7 points	3.9%	8.6%
Communication	ILCV +3.6 points	5.2%	8.8%
Energy	FCPI +3.5 points	10.1%	6.6%
Industrials	ILCV +2.8 points	4.1%	6.9%
Real Estate	FCPI +2.1 points	3.8%	1.7%
Consumer Staples	FCPI +1.7 points	9.0%	7.3%
Health Care	FCPI +0.9 points	14.3%	13.4%
Utilities	FCPI +0.4 points	3.4%	3.0%

Country, concentration and asset class

Country by domicile

Country weights in FCPI and ILCV, widest gap first
Country	More in FCPIMore in ILCV	FCPI	ILCV
United States	FCPI +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

FCPI40.3%
ILCV34.4%

Securities held

FCPI99
ILCV372

Asset class

FCPI: Equity
ILCV: Equity

Holdings

Only in FCPI49
In both50
Only in ILCV322

Only in FCPI

49 securities, 38.4% of FCPI by weight

NVIDIA Corp6.27%
Apa Corp3.78%
Anglogold Ashanti PLC3.31%
Pbf Energy Inc Class A3.30%
Host Hotels & Resorts Inc2.15%
Broadcom Inc2.07%
Darling Ingredients Inc1.94%
Advanced Micro Devices Inc1.29%
Jazz Pharma PLC1.13%
Iridium Communications Inc1.08%
Renaissancere Hldgs Ltd0.56%
Gamestop Corp Class A0.53%
Applied Materials Inc0.53%
Lam Research Corp0.52%
Western Alliance Bancorp0.51%
Airbnb Inc Class A0.51%
Zions Bancorp0.50%
Popular Inc0.48%
Matson Inc0.46%
Block H & R Inc0.46%
Carnival Corp Ltd0.45%
Vertiv Holdings Co0.43%
Accenture PLC Class A0.43%
Macys Inc0.42%
Kla Corp0.41%
Cummins Inc0.38%
Enova Intl Inc0.37%
Comfort Systems Usa Inc0.35%
Mueller Industries Inc0.34%
Seagate Techn Holdings PLC0.33%
Western Digital Corp0.31%
Sterling Infrastructure Inc0.30%
Nxp Semiconductors NV0.28%
Argan Inc0.25%
Fortinet Inc0.25%
On Semiconductor Corp0.20%
Teradyne Inc0.19%
Arrow Electronics Inc0.18%
Avnet Inc0.17%
Cirrus Logic Inc0.17%
Globalfoundries Inc0.16%
Sanmina Corp0.16%
Mks Inc0.14%
Amkor Technology Inc0.14%
Applovin Corp0.09%
Match Group Inc0.08%
Versant Media Group Inc - A0.06%
Ust Bills 0% 11/12/26<0.01%
SP500 Mic Emin FUTDEC26 HWAZ6<0.01%

Only in ILCV

322 securities, 63.6% of ILCV by weight

Amazon.com Inc3.08%
Berkshire Hathaway Inc Class B2.84%
JPMorgan Chase & Co2.60%
Exxonmobil Holdings Corp2.14%
Alphabet Class C1.65%
AbbVie1.46%
Tesla Inc1.24%
Chevron1.23%
UnitedHealth Group1.05%
Coca-Cola1.03%
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%
Gilead Sciences0.58%
Walt Disney0.54%
Salesforce0.52%
Pepsico0.52%
Mcdonalds Corp0.52%
Abbott Laboratories0.51%
Conocophillips0.51%
Union Pacific0.51%
Pfizer0.49%
BlackRock0.46%
Danaher0.43%
Accenture PLC Class A0.43%
Progressive0.38%
Chubb0.36%
Lockheed Martin0.36%
Medtronic PLC0.35%
American Express0.35%
Oracle0.35%
Prologis Reit0.35%
Lowes Companies Inc0.33%
Cvs Health0.33%
Automatic Data Processing Inc0.32%
Phillips 660.31%
Southern0.30%
Cme Group Class A0.30%
Duke Energy Corp0.28%

Weight gaps

All 50 Holdings in both funds, largest gap first.

Holding weights in FCPI and ILCV, widest gap first
Holding	More in FCPIMore in ILCV	FCPI	ILCV
Microsoft CorpMSFT	ILCV +3.63 points	4.82%	8.45%
Newmont CorpNEM	FCPI +3.39 points	3.72%	0.33%
Valero Energy CorpVLO	FCPI +3.23 points	3.54%	0.31%
Altria Group IncMO	FCPI +2.21 points	2.57%	0.36%
Colgate-Palmolive CoCL	FCPI +2.08 points	2.22%	0.14%
Simon Ppty Group Inc - ReitSPG	FCPI +1.88 points	1.98%	0.10%
Procter & Gamble CoPG	FCPI +1.76 points	2.82%	1.06%
Edison IntlEIX	FCPI +1.59 points	1.65%	0.06%
Meta Platforms Inc Class AMETA	ILCV +1.59 points	0.91%	2.50%
Royalty Pharma PLCRPRX	FCPI +1.54 points	1.61%	0.07%
United Therapeutics Corp DelUTHR	FCPI +1.53 points	1.56%	0.03%
Nextera EnergyNEE	FCPI +1.53 points	2.02%	0.49%
Centene CorpCNC	FCPI +1.46 points	1.51%	0.05%
Incyte CorpINCY	FCPI +1.35 points	1.38%	0.03%
Regeneron Pharmaceuticals IncREGN	FCPI +1.33 points	1.56%	0.23%
Bristol-Myers Squibb CoBMY	FCPI +1.12 points	1.48%	0.36%
Merck & Co Inc NewMRK	FCPI +1.02 points	2.05%	1.03%
Apple IncAAPL	ILCV +1.01 points	6.23%	7.24%
Cisco Systems IncCSCO	ILCV +0.56 points	0.66%	1.22%
Johnson & JohnsonJNJ	FCPI +0.48 points	2.37%	1.89%
Synchrony FinancialSYF	FCPI +0.46 points	0.53%	0.07%
Allstate CorporationALL	FCPI +0.45 points	0.54%	0.09%
Ameriprise Financial IncAMP	FCPI +0.43 points	0.50%	0.07%
Ross Stores IncROST	FCPI +0.37 points	0.43%	0.06%
Marriott International Inc AMAR	FCPI +0.37 points	0.52%	0.15%
Travelers Companies IncTRV	FCPI +0.37 points	0.61%	0.24%
Expedia IncEXPE	FCPI +0.37 points	0.41%	0.04%
Verizon Communications IncVZ	ILCV +0.35 points	0.17%	0.52%
Snap-On IncorporatedSNA	FCPI +0.34 points	0.37%	0.03%
Nextpower IncNXT	FCPI +0.33 points	0.34%	0.01%
AT&T IncT	ILCV +0.26 points	0.15%	0.41%
Capital One Financial CorpCOF	FCPI +0.24 points	0.60%	0.36%
Dell Technologies Inc Class CDELL	FCPI +0.24 points	0.35%	0.11%
Netapp IncNTAP	FCPI +0.17 points	0.25%	0.08%
Analog Devices IncADI	FCPI +0.17 points	0.45%	0.28%
Alphabet Inc Class AGOOGL	ILCV +0.15 points	1.89%	2.04%
Hp IncHPQ	FCPI +0.15 points	0.23%	0.08%
Cognizant Tech Solutions Class ACTSH	FCPI +0.14 points	0.22%	0.08%
Visa Inc Class AV	FCPI +0.14 points	1.14%	1.00%
Qualcomm IncQCOM	ILCV +0.13 points	0.43%	0.56%
Zoom Communications Inc Class AZM	FCPI +0.13 points	0.20%	0.07%
Caterpillar IncCAT	FCPI +0.13 points	0.51%	0.38%
First Solar IncFSLR	FCPI +0.13 points	0.15%	0.02%
Sandisk CorporationSNDK	FCPI +0.12 points	0.41%	0.29%
Comcast Corp Class ACMCSA	ILCV +0.11 points	0.11%	0.22%
Texas Instruments IncTXN	FCPI +0.08 points	0.53%	0.45%
Micron Technology IncMU	FCPI +0.07 points	1.42%	1.35%
Citigroup IncC	FCPI +0.07 points	0.67%	0.60%
The Booking Holdings IncBKNG	FCPI +0.06 points	0.38%	0.32%
Adobe IncADBE	Same weight	0.28%	0.28%

All 105 FCPI 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.

FCPI vs ILCV Cost

Overpaying FCPI vs ILCV

$2,288

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

FCPI 0.15%
$3,137
ILCV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

FCPI 0.15%
ILCV 0.04%
Overpaying

Year by year

Year	FCPI	ILCV	Overpaying
10	$274	$73	$201
20	$1,071	$288	$783
30	$3,137	$849	$2,288

Expense ratio

0.15%FCPI
0.04%ILCV, cheaper

ILCV0.04%FCPI0.15%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

FCPI 13th cheapest of 99 funds

FCPI vs ILCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCPI 1.53%, better; ILCV 1.51%
Payout (12M): FCPI $0.86; ILCV $1.65
Last payment: FCPI $0.15; ILCV $0.42
Ex-dividend: FCPI Sep 18, 2026; ILCV Sep 15, 2026
Paid on: FCPI Sep 22, 2026; ILCV Sep 18, 2026
Frequency: FCPI Quarterly; ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FCPIQuarterly · 29 paymentsAll FCPI payments⁠

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

FCPI vs ILCV Risk

Fall from peak · 5 years

FCPI
ILCV

Risk facts

VolatilityStd dev, 3 years: FCPI 12.1%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years: FCPI 1.41ILCV 1.57, better
Worst fallMax drawdown, 5 years: FCPI −18.2%, betterILCV −18.6%
Market sensitivityBeta, 5 years: FCPI 0.92ILCV 0.82; Market = 1

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