Skip to content
etf.net

HERD vs ILCV

Pacer Cash Cows Fund of Funds ETF

HERDDNasdaq

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

Expense ratio

ILCV −0.70pt a year

HERD0.74%ILCV0.04%

Avg volume · 30D

ILCV 5.7×the volume

HERD4.27KILCV24.4K

5Y return · a year

ILCV +1.5pt

HERD+11.1%ILCV+12.6%

HERD vs ILCV Performance

Oct 29, 2021 – Oct 30, 2026

+69.6%HERD+81.1%ILCV

Oct 29, 2021 to Oct 30, 2026. HERD +69.6%. ILCV +81.1%. Use the arrow keys to read each point.0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
HERD 0.74%
ILCV 0.04%, better
Fund size
HERD $105M
ILCV $1.37B
1Y total return
HERD +23.7%, better
ILCV +21.0%
Yield (12M)
HERD 3.37%, better
ILCV 1.51%
Holdings
HERD 6
ILCV 375
Avg volume (30D)
HERD 4.27K sh
ILCV 24.4K sh, better
NAV per share
HERD $51.16
ILCV $109.27
52W range

ETF.net Grade

HERD: Cost 4, Risk 65, Mission 76, Tradability 34, Holdings 23, Durability 28. ILCV: Cost 99, Risk 90, Mission 82, Tradability 64, Holdings 39, Durability 82.
Pillar letters and Scores for HERD, ILCV, with each pillar’s weight
PillarHERDILCV
Cost30% weightF4A99Higher
Mission25% weightA76A82Higher
Risk15% weightB65A90Higher
Tradability15% weightD34B64Higher
Holdings10% weightF23D39Higher
Durability5% weightD28A82Higher

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. HERD 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 HERD 87th 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 86DPALCPacer Lunt Large Cap Multi-Factor Alternator ETFScore 39
  5. Rank 87DHERDPacer Cash Cows Fund of Funds ETFScore 38
  6. Rank 88DPSAIPacer S&P 500 3AI Top 100 ETFScore 37

Our read on each fund

ETF.net Research

HERDDPacer Cash Cows Fund of Funds ETF

ILCVAiShares Morningstar Value ETF

In short

HERD One ticket for Pacer's entire free-cash-flow lineup: five Cash Cows ETFs at 20% each, spanning US large caps, small caps, growth, global dividend payers and developed international. The price for that bundling is 0.74%.

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

HERD The Fund seeks to track, before fees and expenses, the total return of the Pacer Cash Cows Fund of Funds Index. It is composed of Pacer Cash Cows ETFs, whose underlying indexes use rules-based cash-flow strategies.

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

  • HERD Five rules-based cash-flow strategies in one holding, targeted at 20% apiece: US large and mid caps, US small caps, US growth, global dividend payers and developed international.paceretfs.com
  • Plain plumbing: an index of index funds, each screening a named universe (Russell 1000, S&P US SmallCap, FTSE Developed ex-US) for high free cash flow yield.paceretfs.com
  • Running since 2019, so the free-cash-flow bundle has a live record rather than a backtest, with the same published rulebook the whole way.
  • 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

  • HERD Fee stacking: the 0.74% total (no waiver) is mostly the underlying ETFs' own fees plus a wrapper management fee, and it sits above the category median. VYM charges 0.04%.sec.gov
  • One idea applied five ways. Every sleeve screens on free cash flow, so this is a single-factor portfolio in a diversified coat, not a multi-factor blend.paceretfs.com
  • It is one of the lighter-traded names in its category, so spreads and limit-order discipline matter more here than with the giant index funds it competes against.
  • 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 HERD profile⁠

Full ILCV profile⁠

HERD vs ILCV Holdings

As of
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.

HERD vs ILCV Cost

Overpaying HERD vs ILCV

$13,458

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

  • HERD 0.74%

    $14,307

  • ILCV 0.04%

    $849

$10,000
30 years

Cost over time

  • HERD 0.74%
  • 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$15K051015202530HERD $14,307ILCV $849

Year by year

YearHERDILCVOverpaying
10$1,319$73$1,246
20$5,015$288$4,727
30$14,307$849$13,458

Expense ratio

  • 0.74%HERD
  • 0.04%ILCV, cheaper
  • Middle half of US Multifactor funds
  • Median 0.29%

ILCV cheapest of 99 funds

HERD 96th cheapest of 99 funds

HERD vs ILCV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
HERD 3.37%, better
ILCV 1.51%
Payout (12M)
HERD $1.72
ILCV $1.65
Last payment
HERD $0.55
ILCV $0.42
Ex-dividend
HERD Sep 4, 2026
ILCV Sep 15, 2026
Paid on
HERD Sep 9, 2026
ILCV Sep 18, 2026
Frequency
HERD Twice a year
ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

HERDTwice a year · 28 paymentsAll HERD payments⁠
One bar per payment. 28 payments from 2017 to 2026 YTD. Jun 26, 2019 $0.14; Sep 25, 2019 $0.16; Dec 27, 2019 $0.14; Mar 24, 2020 $0.11; Jun 23, 2020 $0.07; Sep 22, 2020 $0.20; Dec 22, 2020 $0.16; Mar 23, 2021 $0.07; Jun 22, 2021 $0.10; Sep 24, 2021 $0.28; Dec 27, 2021 $0.27; Mar 25, 2022 $0.14; Jun 24, 2022 $0.18; Sep 23, 2022 $0.24; Dec 23, 2022 $0.24; Mar 24, 2023 $0.11; Jun 23, 2023 $0.27; Sep 22, 2023 $0.37; Dec 28, 2023 $0.21; Mar 22, 2024 $0.14; Jun 28, 2024 $0.45; Sep 27, 2024 $0.16; Dec 30, 2024 $0.16; Mar 7, 2025 $0.11; Jun 6, 2025 $0.16; Sep 5, 2025 $0.19; Dec 31, 2025 $1.17; Sep 4, 2026 $0.55. Use the arrow keys to read each point.$0$12017202020232026YTD
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$12017202020232026YTD

HERD vs ILCV Risk

Fall from peak · 5 years

  • HERD
  • ILCV
Oct 29, 2021 to Oct 30, 2026. Worst fall: HERD −21.6% · Sep 2022. Use the arrow keys to read each point.−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
HERD 12.9%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years
HERD 1.03ILCV 1.57, better
Worst fallMax drawdown, 5 years
HERD −21.6%ILCV −18.6%, better
Market sensitivityBeta, 5 years
HERD 0.71ILCV 0.82

Popular comparisons

  • HERDDvsVONVA

    Pacer Cash Cows Fund of Funds ETF · Vanguard Russell 1000 Value ETF

    Expense ratio
    0.74% · 0.06%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ILCVAvsVONVA

    iShares Morningstar Value ETF · Vanguard Russell 1000 Value ETF

    Expense ratio
    0.04% · 0.06%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • HERDDvsVYMA

    Pacer Cash Cows Fund of Funds ETF · Vanguard High Dividend Yield ETF

    Expense ratio
    0.74% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ILCVAvsVYMA

    iShares Morningstar Value ETF · Vanguard High Dividend Yield ETF

    Expense ratio
    0.04% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • HERDDvsIMCVA

    Pacer Cash Cows Fund of Funds ETF · iShares Morningstar Mid-Cap Value ETF

    Expense ratio
    0.74% · 0.06%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ILCVAvsIMCVA

    iShares Morningstar Value ETF · iShares Morningstar Mid-Cap Value ETF

    Expense ratio
    0.04% · 0.06%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.