IJK vs ILCV

IJKAiShares S&P Mid-Cap 400 Growth ETF

ILCVAiShares Morningstar Value ETF

In short

IJK IJK splits the S&P MidCap 400 in half and keeps the growth side: roughly 250 mid-size US companies picked by the index's growth and momentum screen, for 0.16% a year. It has been doing exactly that since 2000.

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

IJK The fund seeks to track an index of U.S. mid-capitalization equities exhibiting growth characteristics.

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

• IJK A 2000 vintage, which makes it one of the original style-box ETFs and now a multi-billion-dollar fund. Two decades of live history is rare in the factor aisle.
• 0.16% a year, roughly half the typical fee among the factor funds it competes with.
• Growth here is a published rulebook, not a manager's hunch: S&P's own growth and momentum screen applied to the MidCap 400. The fund tracks that index closely, among the tighter trackers in its group.ishares.com
• Mid caps are the slice most portfolios skip. This one covers about 250 of them, with cash paid out 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

• IJK This is half the mid-cap market by design. The growth screen leaves the value side of the 400 on the table, so it is a tilt, not full mid-cap coverage.
• Volatility is the trade-off. Mid-size companies screened for growth and momentum move more than a broad total-market fund, and that shows up in this fund's risk profile.
• Volume is moderate rather than headline-grabbing, so spreads can widen on chunky orders.

• 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 IJK profile⁠

Full ILCV profile⁠