FTC vs ILCV: Grades, Fees and Holdings Compared

First Trust Large Cap Growth AlphaDEX Fund

FTCCNasdaq

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

18.5%by weight

Expense ratio

ILCV −0.54pt a year

FTC0.58%ILCV0.04%

Avg volume · 30D

ILCV 1.6×the volume

FTC15.3KILCV25.1K

10Y return · a year

FTC +1.5pt

FTC+13.7%ILCV+12.2%

FTC vs ILCV Performance

Nov 9, 2021 – Nov 9, 2026

+40.1%FTC+79.9%ILCV

Expense ratio: FTC 0.58%; ILCV 0.04%, better
Fund size: FTC $1.22B; ILCV $1.37B
1Y total return: FTC +5.4%; ILCV +22.4%, better
Yield (12M): FTC 0.12%; ILCV 1.50%, better
Holdings: FTC 188; ILCV 374
Avg volume (30D): FTC 15.3K sh; ILCV 25.1K sh, better
NAV per share: FTC $161.98; ILCV $108.28
52W range

ETF.net Grade

Pillar letters and Scores for FTC, ILCV, with each pillar’s weight
Pillar	FTC	ILCV
Cost30% weight	F19	A99Higher
Mission25% weight	B62	A82Higher
Risk15% weight	F18	A91Higher
Tradability15% weight	B64Higher	B62
Holdings10% weight	A72Higher	D39
Durability5% weight	A76	A82Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FTC 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 FTC 75th 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 73CCAFGPacer US Small Cap Cash Cows Growth Leaders ETFScore 45
Rank 75CFTCFirst Trust Large Cap Growth AlphaDEX FundScore 44
Rank 75CLSAFLeaderSharesTM AlphaFactor US Core Equity ETFScore 44

Our read on each fund

ETF.net Research

FTCCFirst Trust Large Cap Growth AlphaDEX Fund

ILCVAiShares Morningstar Value ETF

In short

FTC A 2007-vintage smart-beta original. Instead of ranking large-cap growth names by size, FTC scores the field on growth and value metrics and holds only the roughly 190 stocks its AlphaDEX screen likes best.

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

FTC The fund seeks investment results that generally correspond to the price and yield of the Nasdaq AlphaDEX Large Cap Growth 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

FTC Rules-based, not cap-weighted: the AlphaDEX screen ranks large caps on both growth and value measures, so position sizes come from the scoring model rather than from a company's market value.ftportfolios.com
Launched in 2007, making it one of the elder statesmen of factor investing, with a live record across multiple full market cycles rather than a backtest.
Roughly 190 holdings, a far wider net than the concentrated megacap-heavy growth funds it sits beside. It is a multi-billion-dollar fund and pays 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

FTC At 0.58%, the fee runs well above the multifactor peer median of 0.32%, and above rules-based rivals like FNDX (0.25%) and IUSG (0.04%). The screen has to earn that gap.
Thinly traded compared with its category, so spreads can widen. Limit orders and avoiding the opening and closing bells matter more here than with the mega-liquid names.
The blended growth-and-value screen means the portfolio can look and behave quite differently from a plain large-cap growth benchmark in any given stretch.

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 FTC profile⁠

Full ILCV profile⁠

FTC vs ILCV Holdings

How FTC and ILCV differ

Overlap by weight

18.5%

Shared holdings make up 45.2% of ILCV and 43.2% of FTC.

Level by level

Holdings77 in both18.5%
Sector11 Sectors69.2%
Countryby domicile99.3%
Asset classStocks100%

Sector

Sector weights in FTC and ILCV, widest gap first
Sector	Gap	FTC	ILCV
Technology	FTC +12.5 points	35.5%	23.0%
Industrials	FTC +11.2 points	18.1%	6.9%
Financials	ILCV +10.1 points	8.1%	18.2%
Communication	ILCV +6.3 points	2.2%	8.5%
Consumer Staples	ILCV +5.8 points	1.8%	7.6%
Energy	ILCV +5.5 points	0.6%	6.1%
Health Care	FTC +3.3 points	17.1%	13.8%
Utilities	ILCV +3.1 points	0.0%	3.1%
Materials	FTC +2.0 points	4.1%	2.1%
Consumer Discretionary	FTC +1.7 points	10.6%	8.9%
Real Estate	FTC +0.2 points	1.9%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in FTC and ILCV, widest gap first
Country	Gap	FTC	ILCV
United States	ILCV +0.4 points	98.8%	99.2%
Switzerland	FTC +0.4 points	0.8%	0.4%
United Kingdom	FTC +0.3 points	0.4%	0.1%
Brazil	ILCV +0.1 points	0.0%	0.1%
China	ILCV +0.1 points	0.0%	0.1%
Ireland	ILCV +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

FTC10.4%
ILCV34.8%

Securities held

FTC187
ILCV371

Asset class

FTC: Stocks
ILCV: Stocks

Holdings

Only in FTC110
In both77
Only in ILCV294

Only in FTC

110 securities, 56.6% of FTC by weight

SharkNinja Inc.1.22%
Medpace Holdings, Inc.1.03%
Wabtec Corporation0.97%
Toast, Inc. (Class A)0.94%
Airbnb, Inc. (Class A)0.93%
Eli Lilly and Company0.92%
DexCom, Inc.0.91%
Amphenol Corporation0.87%
West Pharmaceutical Services, Inc.0.85%
Welltower Inc.0.84%
Veeva Systems Inc. (Class A)0.84%
Guardant Health, Inc.0.83%
Quanta Services, Inc.0.83%
Arista Networks, Inc.0.83%
CrowdStrike Holdings, Inc. (Class A)0.81%
NVIDIA Corporation0.81%
Snowflake Inc. (Class A)0.80%
Jazz Pharmaceuticals Plc0.80%
Okta, Inc.0.80%
IDEX Corporation0.79%
Cloudflare, Inc. (Class A)0.76%
Nordson Corporation0.75%
Natera, Inc.0.74%
Keysight Technologies, Inc.0.74%
ATI Inc.0.73%
Everpure, Inc. (Class A)0.73%
Unity Software Inc.0.73%
Advanced Micro Devices, Inc.0.72%
Johnson Controls International Plc0.72%
MongoDB, Inc.0.71%
Interactive Brokers Group, Inc. (Class A)0.70%
Monolithic Power Systems, Inc.0.70%
Twilio Inc. (Class A)0.68%
Carvana Co. (Class A)0.68%
Palantir Technologies Inc. (Class A)0.68%
Freeport-McMoRan Inc.0.67%
W.W. Grainger, Inc.0.67%
Ares Management Corporation (Class A)0.67%
Fortinet, Inc.0.66%
Nutanix, Inc. (Class A)0.65%
Royal Gold, Inc.0.65%
Datadog, Inc. (Class A)0.65%
Bloom Energy Corporation (Class A)0.62%
Comfort Systems USA, Inc.0.61%
Live Nation Entertainment, Inc.0.60%
ITT Inc.0.59%
Zscaler, Inc.0.57%
DoorDash, Inc. (Class A)0.56%
AMETEK, Inc.0.53%
Cboe Global Markets, Inc.0.51%

Only in ILCV

294 securities, 54.5% of ILCV by weight

Berkshire Hathaway Inc Class B3.04%
JPMorgan Chase & Co2.56%
Exxonmobil Holdings Corp1.97%
Alphabet Class C1.68%
Chevron1.15%
Tesla Inc1.11%
Procter & Gamble1.11%
UnitedHealth Group1.02%
Home Depot0.99%
Walmart0.96%
Bank of America0.92%
Costco Wholesale Corp0.76%
Thermo Fisher Scientific0.74%
Wells Fargo0.73%
Linde PLC0.68%
International Business Machines Co0.67%
Walt Disney0.58%
Citigroup0.58%
Mcdonalds Corp0.56%
Pepsico0.56%
Abbott Laboratories0.55%
Verizon Communications Inc0.55%
Nextera Energy0.52%
Salesforce0.49%
Pfizer0.48%
BlackRock0.47%
Conocophillips0.47%
Accenture PLC Class A0.46%
AT&T0.43%
Danaher0.43%
Progressive0.38%
Medtronic PLC0.38%
Chubb0.37%
Altria Group Inc0.37%
Bristol Myers Squibb0.37%
Lowes Companies Inc0.36%
Capital One Financial Corp0.36%
Prologis Reit0.35%
Automatic Data Processing Inc0.35%
Lockheed Martin0.32%
Cme Group Class A0.32%
Cvs Health0.31%
Southern0.31%
Oracle0.30%
Valero Energy Corp0.29%
Duke Energy Corp0.29%
Charles Schwab0.28%
Phillips 660.28%
Intercontinental Exchange Inc0.28%
Adobe Inc0.27%

Weight gaps

All 77 Holdings in both funds, largest gap first.

Holding weights in FTC and ILCV, widest gap first
Holding	Gap	FTC	ILCV
Microsoft CorporationMSFT	ILCV +7.98 points	0.60%	8.58%
Apple Inc.AAPL	ILCV +6.39 points	0.81%	7.20%
Amazon.com, Inc.AMZN	ILCV +2.50 points	0.82%	3.32%
Meta Platforms, Inc. (Class A)META	ILCV +1.81 points	0.66%	2.47%
Alphabet Inc. (Class A)GOOGL	ILCV +1.60 points	0.48%	2.08%
Johnson & JohnsonJNJ	ILCV +1.51 points	0.41%	1.92%
Corpay, Inc.CPAY	FTC +1.12 points	1.16%	0.04%
AbbVie Inc.ABBV	ILCV +1.04 points	0.44%	1.48%
Expeditors International of Washington, Inc.EXPD	FTC +0.96 points	0.99%	0.03%
Incyte CorporationINCY	FTC +0.94 points	0.97%	0.03%
Expedia Group, Inc.EXPE	FTC +0.93 points	0.97%	0.04%
Agilent Technologies, Inc.A	FTC +0.93 points	1.00%	0.07%
Ross Stores, Inc.ROST	FTC +0.92 points	0.98%	0.06%
Workday, Inc. (Class A)WDAY	FTC +0.89 points	1.00%	0.11%
eBay Inc.EBAY	FTC +0.81 points	0.91%	0.10%
Moderna, Inc.MRNA	FTC +0.78 points	1.04%	0.26%
Northern Trust CorporationNTRS	FTC +0.76 points	0.81%	0.04%
Garmin Ltd.GRMN	FTC +0.75 points	0.79%	0.04%
Illumina, Inc.ILMN	FTC +0.74 points	0.77%	0.03%
NetApp, Inc.NTAP	FTC +0.73 points	0.79%	0.06%
International Flavors & Fragrances Inc.IFF	FTC +0.72 points	0.78%	0.06%
Newmont CorporationNEM	FTC +0.66 points	1.03%	0.37%
The Coca-Cola CompanyKO	ILCV +0.64 points	0.44%	1.08%
Mettler-Toledo International Inc.MTD	FTC +0.61 points	0.66%	0.05%
Williams-Sonoma, Inc.WSM	FTC +0.59 points	0.64%	0.05%
Visa Inc. (Class A)V	ILCV +0.58 points	0.46%	1.04%
United Rentals, Inc.URI	FTC +0.55 points	0.61%	0.06%
F5, Inc.FFIV	FTC +0.53 points	0.55%	0.02%
Dell Technologies Inc. (Class C)DELL	FTC +0.52 points	0.60%	0.08%
Hewlett Packard Enterprise CompanyHPE	FTC +0.52 points	0.69%	0.17%
Marriott International, Inc.MAR	FTC +0.52 points	0.68%	0.16%
KKR & Co. Inc. (Class A)KKR	FTC +0.51 points	0.61%	0.10%
Emerson Electric Co.EMR	FTC +0.50 points	0.60%	0.10%
Analog Devices, Inc.ADI	FTC +0.48 points	0.72%	0.24%
Targa Resources Corp.TRGP	FTC +0.48 points	0.56%	0.08%
Philip Morris International Inc.PM	ILCV +0.48 points	0.41%	0.89%
Coeur Mining, Inc.CDE	FTC +0.46 points	0.51%	0.05%
Liberty Media Corporation (Class C)FWONK	FTC +0.43 points	0.45%	0.02%
Cardinal Health, Inc.CAH	FTC +0.40 points	0.48%	0.08%
Eaton Corporation PlcETN	FTC +0.40 points	0.63%	0.23%
Roivant Sciences Ltd.ROIV	FTC +0.39 points	0.42%	0.03%
Cisco Systems, Inc.CSCO	ILCV +0.38 points	0.69%	1.07%
Micron Technology, Inc.MU	ILCV +0.37 points	0.64%	1.01%
Iron Mountain IncorporatedIRM	FTC +0.35 points	0.38%	0.03%
RTX CorporationRTX	ILCV +0.34 points	0.40%	0.74%
CSX CorporationCSX	FTC +0.33 points	0.42%	0.09%
Zoom Communications, Inc. (Class A)ZM	FTC +0.33 points	0.39%	0.06%
Vertex Pharmaceuticals IncorporatedVRTX	FTC +0.32 points	0.60%	0.28%
Union Pacific CorporationUNP	ILCV +0.30 points	0.20%	0.50%
Sandisk CorporationSNDK	FTC +0.28 points	0.47%	0.19%
Merck & Co., Inc.MRK	ILCV +0.24 points	0.80%	1.04%
CoreWeave, Inc. (Class A)CRWV	FTC +0.19 points	0.21%	0.02%
Las Vegas Sands Corp.LVS	FTC +0.20 points	0.21%	0.01%
Mastercard IncorporatedMA	ILCV +0.18 points	0.47%	0.65%
Parker-Hannifin CorporationPH	FTC +0.19 points	0.38%	0.19%
Church & Dwight Co., Inc.CHD	FTC +0.18 points	0.22%	0.04%
United Therapeutics CorporationUTHR	FTC +0.17 points	0.20%	0.03%
The Goldman Sachs Group, Inc.GS	ILCV +0.18 points	0.55%	0.73%
Texas Instruments IncorporatedTXN	FTC +0.17 points	0.57%	0.40%
3M CompanyMMM	FTC +0.17 points	0.45%	0.28%
Booking Holdings Inc.BKNG	ILCV +0.16 points	0.19%	0.35%
NXP Semiconductors N.V.NXPI	FTC +0.15 points	0.20%	0.05%
Amgen Inc.AMGN	FTC +0.14 points	0.86%	0.72%
Morgan StanleyMS	FTC +0.14 points	0.76%	0.62%
The Sherwin-Williams CompanySHW	FTC +0.12 points	0.20%	0.08%
Simon Property Group, Inc.SPG	FTC +0.12 points	0.22%	0.10%
Uber Technologies, Inc.UBER	FTC +0.11 points	0.40%	0.29%
Illinois Tool Works Inc.ITW	FTC +0.10 points	0.21%	0.11%
Colgate-Palmolive CompanyCL	FTC +0.07 points	0.22%	0.15%
Equinix, Inc.EQIX	FTC +0.07 points	0.19%	0.12%
American Express CompanyAXP	FTC +0.07 points	0.42%	0.35%
Caterpillar Inc.CAT	FTC +0.06 points	0.40%	0.34%
Trane Technologies plcTT	FTC +0.05 points	0.17%	0.12%
Gilead Sciences, Inc.GILD	FTC +0.05 points	0.65%	0.60%
Starbucks CorporationSBUX	FTC +0.05 points	0.22%	0.17%
S&P Global Inc.SPGI	ILCV +0.04 points	0.23%	0.27%
QUALCOMM IncorporatedQCOM	FTC +0.01 points	0.52%	0.51%

All 187 FTC holdings⁠All 371 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.

FTC vs ILCV Cost

Overpaying FTC vs ILCV

$10,604

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

FTC 0.58%
$11,453
ILCV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

FTC 0.58%
ILCV 0.04%
Overpaying

Year by year

Year	FTC	ILCV	Overpaying
10	$1,041	$73	$968
20	$3,986	$288	$3,698
30	$11,453	$849	$10,604

Expense ratio

0.58%FTC
0.04%ILCV, cheaper

ILCV0.04%FTC0.58%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

FTC 79th cheapest of 99 funds

FTC vs ILCV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FTC 0.12%; ILCV 1.50%, better
Payout (12M): FTC $0.20; ILCV $1.65
Last payment: FTC $0.07; ILCV $0.42
Ex-dividend: FTC Sep 24, 2026; ILCV Sep 15, 2026
Paid on: FTC Sep 30, 2026; ILCV Sep 18, 2026
Frequency: FTC Quarterly; ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FTCQuarterly · 34 paymentsAll FTC payments⁠

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

FTC vs ILCV Risk

Fall from peak · 5 years

FTC
ILCV

Risk facts

VolatilityStd dev, 3 years: FTC 17.6%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years: FTC 0.99ILCV 1.57, better
Worst fallMax drawdown, 5 years: FTC −31.2%ILCV −18.6%, better
Market sensitivityBeta, 5 years: FTC 1.14ILCV 0.82; Market = 1

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