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FDLS vs ILCV

Inspire Fidelis Multi Factor ETF

FDLSDNYSE Arca

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

Expense ratio

ILCV −0.62pt a year

FDLS0.66%ILCV0.04%

Avg volume · 30D

FDLS 1.3×the volume

FDLS30.5KILCV24.4K

3Y return · a year

ILCV +0.8pt

FDLS+21.8%ILCV+22.6%

FDLS vs ILCV Performance

Oct 31, 2025 – Oct 30, 2026

+20.0%FDLS+21.0%ILCV

Oct 31, 2025 to Oct 30, 2026. FDLS +20.0%. ILCV +21.0%. Use the arrow keys to read each point.0%5%10%25%Oct 2025Apr 2026Oct 2026
Expense ratio
FDLS 0.66%
ILCV 0.04%, better
Fund size
FDLS $259M
ILCV $1.37B
1Y total return
FDLS +20.0%
ILCV +21.0%, better
Yield (12M)
FDLS 0.85%
ILCV 1.51%, better
Holdings
FDLS 102
ILCV 375
Avg volume (30D)
FDLS 30.5K sh, better
ILCV 24.4K sh
NAV per share
FDLS $41.98
ILCV $109.27
52W range

ETF.net Grade

FDLS: Cost 7, Risk 41, Mission not scored, Tradability 32, Holdings 70, Durability 39. ILCV: Cost 99, Risk 90, Mission 82, Tradability 64, Holdings 39, Durability 82.
Pillar letters and Scores for FDLS, ILCV, with each pillar’s weight
PillarFDLSILCV
Cost30% weightF7A99Higher
Mission25% weightNot scoredA82
Risk15% weightC41A90Higher
Tradability15% weightD32B64Higher
Holdings10% weightA70HigherD39
Durability5% weightD39A82Higher

Rank among US Multifactor funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FDLS 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 FDLS 93rd of 99 funds in the US Multifactor Category.

  1. Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
  2. Rank 2AILCViShares Morningstar Value ETFScore 81
  3. Rank 2AVYMVanguard High Dividend Yield ETFScore 81
  4. Rank 91DDVOLFirst Trust Dorsey Wright Momentum & Low Volatility ETFScore 32
  5. Rank 93DFDLSInspire Fidelis Multi Factor ETFScore 29
  6. Rank 94DABLDAbacus FCF Real Assets Leaders ETFScore 27

Our read on each fund

ETF.net Research

FDLSDInspire Fidelis Multi Factor ETF

ILCVAiShares Morningstar Value ETF

In short

FDLS A multi-cap, multi-factor index fund from a boutique shop, priced at 0.66% a year. Launched in 2022, it fishes across the whole size ladder rather than parking in mega-caps like most factor funds do.

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

FDLS The Fund seeks its investment objective through a policy requiring, under normal market conditions, that at least 80% of net assets be invested directly or indirectly in specified investments.

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

  • FDLS Charges 0.66% a year, meaningfully below the median for the funds it's graded against. Modest pricing for a rules-based factor blend from a small issuer.
  • Rules first. It tracks the WI Fidelis Multi-Cap, Multi-Factor Index, so what lands in the portfolio comes from a published rulebook rather than a manager's hunch.
  • Multi-cap by design: small and mid caps sit beside large caps, a wider net than the large-cap-only factor funds that dominate the shelf.
  • Despite the small nameplate, it grades out in the upper tier of its peer group, with the portfolio itself among the sturdier pieces of the picture.
  • 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

  • FDLS Thinly traded. Spreads can widen, and the price on a market order can sit further from the fund's underlying value than it would on a heavily traded ETF.
  • Assets are in the small-fund range. Smaller funds run with less cushion and carry more closure or merger risk than the giants.
  • It gets graded next to options-income strategies, but the mandate here is plain equity factor exposure: no options premium, no capped upside. Payouts come quarterly.
  • 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 FDLS profile⁠

Full ILCV profile⁠

FDLS vs 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.

FDLS vs ILCV Cost

Overpaying FDLS vs ILCV

$12,047

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

  • FDLS 0.66%

    $12,896

  • ILCV 0.04%

    $849

$10,000
30 years

Cost over time

  • FDLS 0.66%
  • ILCV 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530FDLS $12,896ILCV $849

Year by year

YearFDLSILCVOverpaying
10$1,180$73$1,107
20$4,504$288$4,216
30$12,896$849$12,047

Expense ratio

  • 0.66%FDLS
  • 0.04%ILCV, cheaper
  • Middle half of US Multifactor funds
  • Median 0.29%

ILCV cheapest of 99 funds

FDLS 94th cheapest of 99 funds

FDLS vs ILCV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FDLS 0.85%
ILCV 1.51%, better
Payout (12M)
FDLS $0.35
ILCV $1.65
Last payment
FDLS $0.07
ILCV $0.42
Ex-dividend
FDLS Sep 25, 2026
ILCV Sep 15, 2026
Paid on
FDLS Oct 1, 2026
ILCV Sep 18, 2026
Frequency
FDLS Quarterly
ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FDLSQuarterly · 17 paymentsAll FDLS payments⁠
One bar per payment. 17 payments from 2017 to 2026 YTD. Sep 23, 2022 $0.02; Dec 14, 2022 $0.06; Mar 27, 2023 $0.05; Jun 23, 2023 $0.08; Sep 22, 2023 $0.03; Dec 14, 2023 $0.12; Mar 27, 2024 $0.07; Jun 25, 2024 $0.08; Sep 25, 2024 $0.08; Dec 16, 2024 $1.91; Mar 27, 2025 $0.05; Jun 26, 2025 $0.10; Sep 26, 2025 $0.06; Dec 17, 2025 $0.10; Mar 27, 2026 $0.09; Jun 26, 2026 $0.09; Sep 25, 2026 $0.07. Use the arrow keys to read each point.$0$22017202020232026YTD
ILCVQuarterly · 39 paymentsAll ILCV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.28; Jun 27, 2017 $0.30; Sep 26, 2017 $0.31; Dec 19, 2017 $0.34; Mar 22, 2018 $0.33; Jun 26, 2018 $0.35; Sep 26, 2018 $0.34; Dec 17, 2018 $0.39; Mar 20, 2019 $0.35; Jun 17, 2019 $0.34; Sep 24, 2019 $0.44; Dec 16, 2019 $0.45; Mar 25, 2020 $0.44; Jun 15, 2020 $0.40; Sep 23, 2020 $0.41; Dec 14, 2020 $0.40; Mar 25, 2021 $0.36; Jun 10, 2021 $0.25; Sep 24, 2021 $0.39; Dec 13, 2021 $0.40; Mar 24, 2022 $0.33; Jun 9, 2022 $0.27; Sep 26, 2022 $0.47; Dec 13, 2022 $0.40; Mar 23, 2023 $0.36; Jun 7, 2023 $0.30; Sep 26, 2023 $0.45; Dec 20, 2023 $0.48; Mar 21, 2024 $0.35; Jun 11, 2024 $0.37; Sep 25, 2024 $0.46; Dec 17, 2024 $0.43; Mar 18, 2025 $0.38; Jun 16, 2025 $0.40; Sep 16, 2025 $0.40; Dec 16, 2025 $0.48; Mar 17, 2026 $0.36; Jun 15, 2026 $0.39; Sep 15, 2026 $0.42. Use the arrow keys to read each point.$0$22017202020232026YTD

FDLS vs ILCV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FDLS 16.4%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years
FDLS 1.02ILCV 1.57, better
Worst fallMax drawdown, 5 years
FDLS −23.3%since Aug 2022ILCV −18.6%
Market sensitivityBeta, 5 years
FDLS 1.08ILCV 0.82

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