FCTR vs IMCV: Grades, Fees and Holdings Compared

First Trust Lunt U.S. Factor Rotation ETF

FCTRFCboe

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Overlap

15.4%by weight

Expense ratio

IMCV −0.59pt a year

FCTR0.65%IMCV0.06%

Avg volume · 30D

IMCV 20.2×the volume

FCTR1.93KIMCV38.9K

5Y return · a year

IMCV +11.3pt

FCTR−0.3%IMCV+11.0%

FCTR vs IMCV Performance

Oct 29, 2021 – Oct 30, 2026

−1.4%FCTR+68.3%IMCV

Expense ratio: FCTR 0.65%; IMCV 0.06%, better
Fund size: FCTR $47M; IMCV $1.27B
1Y total return: FCTR −7.8%; IMCV +27.0%, better
Yield (12M): FCTR 0.62%; IMCV 1.84%, better
Holdings: FCTR 144; IMCV 271
Avg volume (30D): FCTR 1.93K sh; IMCV 38.9K sh, better
NAV per share: FCTR $33.59; IMCV $99.16
52W range

ETF.net Grade

Pillar letters and Scores for FCTR, IMCV, with each pillar’s weight
Pillar	FCTR	IMCV
Cost30% weight	F7	A96Higher
Mission25% weight	F19	A76Higher
Risk15% weight	F10	A77Higher
Tradability15% weight	F20	B69Higher
Holdings10% weight	B60	B69Higher
Durability5% weight	D32	A77Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FCTR 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 FCTR 98th 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 97FPAMCPacer Lunt MidCap Multi-Factor Alternator ETFScore 23
Rank 98FFCTRFirst Trust Lunt U.S. Factor Rotation ETFScore 19
Rank 99FMBCEMonarch Blue Chips Elite Index ETFScore 18

Our read on each fund

ETF.net Research

FCTRFFirst Trust Lunt U.S. Factor Rotation ETF

IMCVAiShares Morningstar Mid-Cap Value ETF

In short

FCTR Most multifactor ETFs blend value, momentum, quality and low volatility all at once. FCTR ranks them instead and rotates toward whichever are winning on relative strength. A factor market-timer in a category built on holding everything.

IMCV No data

Stated mandate

FCTR The Fund aims to outperform the large- and mid-capitalization U.S. equity market before fees and expenses by investing primarily in U.S.-listed large- and mid-capitalization stocks selected through a proprietary factor-rotation model.

IMCV No data

Why people hold it

FCTR The rotation is the whole product: value, momentum, quality and low volatility get scored on risk-adjusted relative strength, and exposure leans toward the leaders rather than averaging across all four.stockanalysis.com
Roughly 170 large- and mid-cap U.S. stocks sit underneath, so the basket still reads like a core equity sleeve even when the factor tilt swings. The holdings are the strongest part of the package.
Live since 2018, which means the rotation model has a real-world record through a full market cycle instead of a backtest.
The stated yardstick is candid: a custom 80% MSCI USA / 20% MSCI USA Minimum Volatility blend, not a flattering plain-vanilla comparison.

IMCV No data

Worth knowing

FCTR At 0.65% a year, it runs about double the typical U.S. multifactor ETF and several times cheaper index-based peers like FNDX (0.25%) or VONV (0.06%).
It trades lightly next to the giants in its category, so the bid/ask spread is a real part of the cost of getting in and out.
Rotation is a timing call by design. When factor leadership flips quickly, the model can be shifting into a factor as it cools rather than ahead of it.

IMCV No data

Full FCTR profile⁠

Full IMCV profile⁠

FCTR vs IMCV Holdings

How FCTR and IMCV differ

Overlap by weight

15.4%

Shared holdings make up 30.8% of FCTR and 20.4% of IMCV.

Level by level

Holdings51 in both15.4%
Sector11 Sectors75.0%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in FCTR and IMCV, widest gap first
Sector	More in FCTRMore in IMCV	FCTR	IMCV
Technology	FCTR +11.4 points	17.9%	6.5%
Financials	FCTR +9.1 points	27.6%	18.5%
Energy	IMCV +9.0 points	4.4%	13.4%
Utilities	IMCV +5.6 points	3.4%	9.0%
Materials	IMCV +4.7 points	0.3%	5.0%
Industrials	IMCV +3.6 points	10.6%	14.2%
Consumer Discretionary	IMCV +2.1 points	4.8%	6.9%
Health Care	FCTR +1.8 points	14.0%	12.2%
Communication	FCTR +1.1 points	2.2%	1.1%
Real Estate	FCTR +0.8 points	5.4%	4.6%
Consumer Staples	FCTR +0.7 points	9.4%	8.7%

Country, concentration and asset class

Country by domicile

Country weights in FCTR and IMCV, widest gap first
Country	More in FCTRMore in IMCV	FCTR	IMCV
United Kingdom	FCTR +1.0 points	1.5%	0.5%
Other countries (4)	IMCV +1.0 points	98.5%	99.5%

Concentration

Weight in the 10 largest Holdings

FCTR19.7%
IMCV13.2%

Securities held

FCTR143
IMCV268

Asset class

FCTR: Equity
IMCV: Equity

Holdings

Only in FCTR92
In both51
Only in IMCV217

Only in FCTR

92 securities, 69.0% of FCTR by weight

CrowdStrike Holdings, Inc. (Class A)3.41%
Cloudflare, Inc. (Class A)2.10%
Lumentum Holdings Inc.1.86%
Axon Enterprise Inc.1.86%
Snowflake Inc. (Class A)1.85%
ON Semiconductor Corporation1.63%
Micron Technology, Inc.1.57%
Okta, Inc.1.57%
Palo Alto Networks, Inc.1.51%
Intel Corporation1.44%
Sandisk Corporation1.38%
Guardant Health, Inc.1.31%
Natera, Inc.1.27%
Marvell Technology, Inc.1.18%
Microchip Technology Incorporated1.16%
Lam Research Corporation1.15%
Palantir Technologies Inc. (Class A)1.11%
Astera Labs, Inc.1.07%
Tesla, Inc.1.02%
Zscaler, Inc.1.02%
Rocket Lab Corporation1.02%
Circle Internet Group, Inc. (Class A)1.01%
Credo Technology Group Holding Ltd1.00%
Insmed Incorporated1.00%
Sitime Corporation0.98%
Twilio Inc. (Class A)0.98%
Fortinet, Inc.0.89%
Vertiv Holdings Co (Class A)0.89%
MACOM Technology Solutions Holdings, Inc.0.88%
Robinhood Markets, Inc. (Class A)0.88%
Entegris, Inc.0.87%
Roblox Corporation (Class A)0.86%
Corning Incorporated0.85%
Monolithic Power Systems, Inc.0.85%
Fair Isaac Corporation0.82%
Bloom Energy Corporation (Class A)0.81%
Teradyne, Inc.0.76%
IonQ, Inc.0.72%
HF Sinclair Corp.0.71%
Arista Networks, Inc.0.69%
ConocoPhillips0.68%
Live Nation Entertainment, Inc.0.67%
Chevron Corporation0.65%
Interactive Brokers Group, Inc. (Class A)0.65%
Everpure, Inc. (Class A)0.62%
AST SpaceMobile, Inc.0.61%
Gilead Sciences, Inc.0.58%
Texas Pacific Land Corporation0.57%
TransDigm Group Incorporated0.55%
MSCI Inc.0.54%

Only in IMCV

217 securities, 79.5% of IMCV by weight

Automatic Data Processing Inc1.60%
Us Bancorp1.27%
Regeneron Pharmaceuticals1.25%
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%
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%
PayPal Holdings0.67%
Keurig Dr Pepper Inc0.66%
Exelon Corp0.65%
Northrop Grumman Corp0.64%
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%
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%
Hartford Insurance Group0.50%
Emerson Electric0.49%
Kimberly Clark0.49%

Weight gaps

All 51 Holdings in both funds, largest gap first.

Holding weights in FCTR and IMCV, widest gap first
Holding	More in FCTRMore in IMCV	FCTR	IMCV
Roivant Sciences Ltd.ROIV	FCTR +1.40 points	1.55%	0.15%
Dell Technologies Inc. (Class C)DELL	FCTR +1.27 points	1.75%	0.48%
Revolution Medicines, Inc.RVMD	FCTR +1.23 points	1.53%	0.30%
Moderna, Inc.MRNA	FCTR +1.01 points	2.09%	1.08%
Phillips 66PSX	IMCV +0.97 points	0.57%	1.54%
Valero Energy CorporationVLO	IMCV +0.89 points	0.68%	1.57%
Strategy Incorporated (Class A)MSTR	FCTR +0.85 points	1.50%	0.65%
International Paper CompanyIP	FCTR +0.84 points	0.99%	0.15%
Weyerhaeuser CompanyWY	FCTR +0.78 points	0.85%	0.07%
General Motors CompanyGM	IMCV +0.77 points	0.28%	1.05%
Centene CorporationCNC	FCTR +0.71 points	0.93%	0.22%
Steel Dynamics, Inc.STLD	FCTR +0.71 points	0.85%	0.14%
Nucor CorporationNUE	FCTR +0.64 points	0.96%	0.32%
LyondellBasell Industries N.V.LYB	FCTR +0.65 points	0.89%	0.24%
Illumina, Inc.ILMN	FCTR +0.56 points	0.73%	0.17%
Dow Inc.DOW	FCTR +0.55 points	0.89%	0.34%
Devon Energy CorporationDVN	IMCV +0.53 points	0.25%	0.78%
NIKE, Inc. (Class B)NKE	IMCV +0.44 points	0.18%	0.62%
SBA Communications CorporationSBAC	FCTR +0.42 points	0.57%	0.15%
Reliance Inc.RS	FCTR +0.42 points	0.56%	0.14%
Occidental Petroleum CorporationOXY	FCTR +0.38 points	1.02%	0.64%
Iron Mountain IncorporatedIRM	FCTR +0.29 points	0.43%	0.14%
Lennar CorporationLEN	FCTR +0.29 points	0.54%	0.25%
HP Inc.HPQ	FCTR +0.28 points	0.64%	0.36%
Charter Communications, Inc. (Class A)CHTR	FCTR +0.28 points	0.43%	0.15%
Bunge Global S.A.BG	FCTR +0.27 points	0.45%	0.18%
Diamondback Energy, Inc.FANG	IMCV +0.27 points	0.26%	0.53%
TD SYNNEX CorporationSNX	FCTR +0.25 points	0.40%	0.15%
Albemarle CorporationALB	FCTR +0.22 points	0.29%	0.07%
CoreWeave, Inc. (Class A)CRWV	FCTR +0.21 points	0.31%	0.10%
Archer-Daniels-Midland CompanyADM	IMCV +0.22 points	0.26%	0.48%
Targa Resources Corp.TRGP	IMCV +0.20 points	0.28%	0.48%
Halliburton CompanyHAL	IMCV +0.19 points	0.23%	0.42%
Edison InternationalEIX	FCTR +0.16 points	0.46%	0.30%
WESCO International, Inc.WCC	FCTR +0.16 points	0.30%	0.14%
NetApp, Inc.NTAP	FCTR +0.16 points	0.50%	0.34%
Southwest Airlines Co.LUV	FCTR +0.15 points	0.26%	0.11%
F5, Inc.FFIV	FCTR +0.15 points	0.28%	0.13%
Marathon Petroleum CorporationMPC	IMCV +0.14 points	0.74%	0.88%
State Street CorporationSTT	IMCV +0.12 points	0.24%	0.36%
Flutter Entertainment PlcFLUT	FCTR +0.10 points	0.19%	0.09%
Ford Motor CompanyF	IMCV +0.07 points	0.59%	0.66%
Workday, Inc. (Class A)WDAY	IMCV +0.07 points	0.46%	0.53%
Tenet Healthcare CorporationTHC	IMCV +0.06 points	0.24%	0.30%
Incyte CorporationINCY	FCTR +0.05 points	0.21%	0.16%
Ovintiv Inc.OVV	IMCV +0.04 points	0.23%	0.27%
Hewlett Packard Enterprise CompanyHPE	FCTR +0.02 points	1.02%	1.00%
Garmin Ltd.GRMN	IMCV +0.02 points	0.18%	0.20%
NRG Energy, Inc.NRG	FCTR +0.02 points	0.16%	0.14%
Tyson Foods, Inc. (Class A)TSN	FCTR +0.01 points	0.23%	0.22%
Humana Inc.HUM	Same weight	0.41%	0.41%

All 143 FCTR 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.

FCTR vs IMCV Cost

Overpaying FCTR vs IMCV

$11,447

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

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

Amount$10,000

Years30 years

Cost over time

FCTR 0.65%
IMCV 0.06%
Overpaying

Year by year

Year	FCTR	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%FCTR
0.06%IMCV, cheaper

IMCV0.06%FCTR0.65%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

FCTR 91st cheapest of 99 funds

FCTR vs IMCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCTR 0.62%; IMCV 1.84%, better
Payout (12M): FCTR $0.21; IMCV $1.83
Last payment: FCTR $0.06; IMCV $0.52
Ex-dividend: FCTR Sep 24, 2026; IMCV Sep 15, 2026
Paid on: FCTR Sep 30, 2026; IMCV Sep 18, 2026
Frequency: FCTR Quarterly; IMCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FCTRQuarterly · 31 paymentsAll FCTR payments⁠

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

FCTR vs IMCV Risk

Fall from peak · 5 years

FCTR
IMCV

Risk facts

VolatilityStd dev, 3 years: FCTR 18.1%IMCV 13.6%, better
Return per unit of riskSharpe ratio, 3 years: FCTR 0.57IMCV 1.22, better
Worst fallMax drawdown, 5 years: FCTR −37.1%IMCV −19.9%, better
Market sensitivityBeta, 5 years: FCTR 1.04IMCV 0.88; Market = 1

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