ILCV vs IMCV: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Overlap

20.7%by weight

Expense ratio

ILCV −0.02pt a year

ILCV0.04%IMCV0.06%

Avg volume · 30D

IMCV 1.6×the volume

ILCV23.7KIMCV38.4K

10Y return · a year

ILCV +1.5pt

ILCV+12.4%IMCV+10.9%

ILCV vs IMCV Performance

Oct 28, 2021 – Oct 28, 2026

+81.2%ILCV+65.5%IMCV

Expense ratio: ILCV 0.04%, better; IMCV 0.06%
Fund size: ILCV $1.37B; IMCV $1.25B
1Y total return: ILCV +21.2%; IMCV +24.6%, better
Yield (12M): ILCV 1.51%; IMCV 1.87%, better
Holdings: ILCV 375; IMCV 271
Avg volume (30D): ILCV 23.7K sh; IMCV 38.4K sh, better
NAV per share: ILCV $109.51; IMCV $97.70
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, IMCV, with each pillar’s weight
Pillar	ILCV	IMCV
Cost30% weight	A99Higher	A96
Mission25% weight	A82Higher	A77
Risk15% weight	A89Higher	A74
Tradability15% weight	B64	B69Higher
Holdings10% weight	C40	B68Higher
Durability5% weight	A82Higher	A78

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV 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 ›

ILCV ranks 2nd and IMCV 4th 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

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

IMCVAiShares Morningstar Mid-Cap Value ETF

In short

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.

IMCV No read

Stated mandate

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.

IMCV No read

Why people hold it

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.

IMCV No read

Worth knowing

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.

IMCV No read

Full ILCV profile⁠

Full IMCV profile⁠

ILCV vs IMCV Holdings

Holdings as of Oct 28, 2026

How ILCV and IMCV differ

Overlap by weight

20.7%

Shared holdings make up 100% of IMCV and 20.7% of ILCV.

Level by level

Holdings268 in both20.7%
Sector11 Sectors72.0%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in ILCV and IMCV, widest gap first
Sector	More in ILCVMore in IMCV	ILCV	IMCV
Technology	ILCV +16.9 points	23.5%	6.6%
Communication	ILCV +7.9 points	9.0%	1.1%
Industrials	IMCV +7.2 points	6.9%	14.1%
Energy	IMCV +7.2 points	6.5%	13.7%
Utilities	IMCV +5.9 points	3.0%	8.9%
Real Estate	IMCV +2.9 points	1.6%	4.5%
Materials	IMCV +2.8 points	2.1%	4.9%
Consumer Discretionary	ILCV +1.9 points	8.6%	6.7%
Consumer Staples	IMCV +1.4 points	7.5%	8.9%
Health Care	ILCV +1.4 points	13.5%	12.1%
Financials	IMCV +0.6 points	17.8%	18.4%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and IMCV, widest gap first
Country	More in ILCVMore in IMCV	ILCV	IMCV
Ireland	ILCV +0.5 points	1.3%	0.8%
Other countries (7)	IMCV +0.5 points	98.7%	99.2%

Concentration

Weight in the 10 largest Holdings

ILCV35.0%
IMCV13.1%

Securities held

ILCV372
IMCV268

Asset class

ILCV: Equity
IMCV: Equity

Holdings

Only in ILCV104
In both268
Only in IMCV0

Only in ILCV

104 securities, 79.3% of ILCV by weight

Microsoft8.50%
Apple7.23%
Amazon.com Inc3.21%
Berkshire Hathaway Inc Class B2.86%
JPMorgan Chase & Co2.55%
Meta Platforms Class A2.49%
Alphabet Class A2.31%
Exxonmobil Holdings Corp2.11%
Alphabet Class C1.86%
Johnson & Johnson1.85%
AbbVie1.44%
Micron Technology1.35%
Tesla Inc1.25%
Cisco Systems Inc1.25%
Chevron1.22%
Procter & Gamble1.06%
UnitedHealth Group1.05%
Coca-Cola1.02%
Merck & Co Inc1.00%
Visa Class A0.98%
Bank of America0.94%
Home Depot0.91%
Walmart0.90%
Philip Morris International0.90%
Goldman Sachs Group0.76%
Rtx0.75%
Thermo Fisher Scientific0.73%
Wells Fargo0.71%
Costco Wholesale Corp0.71%
Amgen Inc0.69%
International Business Machines Co0.67%
Linde PLC0.67%
Morgan Stanley0.63%
Mastercard Class A0.61%
Citigroup0.59%
Gilead Sciences0.56%
Qualcomm0.56%
Salesforce0.55%
Walt Disney0.54%
Verizon Communications Inc0.52%
Pepsico0.52%
Abbott Laboratories0.51%
Union Pacific0.51%
Conocophillips0.51%
Mcdonalds Corp0.50%
Nextera Energy0.49%
Pfizer0.49%
BlackRock0.45%
Texas Instrument0.44%
Caterpillar Inc0.43%

Only in IMCV

0 securities, 0.0% of IMCV by weight

Weight gaps

The 100 widest of 268 Holdings in both funds.

Holding weights in ILCV and IMCV, widest gap first
Holding	More in ILCVMore in IMCV	ILCV	IMCV
Automatic Data Processing IncADP	IMCV +1.29 points	0.33%	1.62%
Valero Energy CorpVLO	IMCV +1.23 points	0.32%	1.55%
Phillips 66PSX	IMCV +1.18 points	0.31%	1.49%
Us BancorpUSB	IMCV +1.02 points	0.27%	1.29%
Pnc Financial Services GroupPNC	IMCV +1.00 points	0.26%	1.26%
3MMMM	IMCV +0.98 points	0.25%	1.23%
Elevance Health IncELV	IMCV +0.98 points	0.25%	1.23%
Eog ResourcesEOG	IMCV +0.93 points	0.24%	1.17%
Travelers CompaniesTRV	IMCV +0.91 points	0.24%	1.15%
Hewlett Packard EnterpriseHPE	IMCV +0.89 points	0.23%	1.12%
Regeneron PharmaceuticalsREGN	IMCV +0.89 points	0.23%	1.12%
SlbSLB	IMCV +0.89 points	0.23%	1.12%
Mondelez International Class AMDLZ	IMCV +0.88 points	0.23%	1.11%
United Parcel Service Inc Class BUPS	IMCV +0.87 points	0.23%	1.10%
CignaCI	IMCV +0.83 points	0.22%	1.05%
ModernaMRNA	IMCV +0.81 points	0.21%	1.02%
General MotorsGM	IMCV +0.78 points	0.20%	0.98%
Target CorpTGT	IMCV +0.74 points	0.19%	0.93%
Kinder MorganKMI	IMCV +0.73 points	0.19%	0.92%
Marathon PetroleumMPC	IMCV +0.69 points	0.18%	0.87%
Cheniere EnergyLNG	IMCV +0.68 points	0.18%	0.86%
OneokOKE	IMCV +0.67 points	0.17%	0.84%
Truist FinancialTFC	IMCV +0.65 points	0.17%	0.82%
MarshMRSH	IMCV +0.63 points	0.16%	0.79%
Devon EnergyDVN	IMCV +0.62 points	0.16%	0.78%
SempraSRE	IMCV +0.61 points	0.16%	0.77%
Dominion EnergyD	IMCV +0.60 points	0.16%	0.76%
AflacAFL	IMCV +0.60 points	0.16%	0.76%
Becton DickinsonBDX	IMCV +0.59 points	0.15%	0.74%
MetlifeMET	IMCV +0.59 points	0.15%	0.74%
Delta Air LinesDAL	IMCV +0.59 points	0.15%	0.74%
WilliamsWMB	IMCV +0.57 points	0.15%	0.72%
Strategy Inc Class AMSTR	IMCV +0.57 points	0.15%	0.72%
Paccar IncPCAR	IMCV +0.56 points	0.15%	0.71%
Xcel Energy IncXEL	IMCV +0.54 points	0.14%	0.68%
Colgate-PalmoliveCL	IMCV +0.53 points	0.14%	0.67%
PayPal HoldingsPYPL	IMCV +0.53 points	0.14%	0.67%
Keurig Dr Pepper IncKDP	IMCV +0.52 points	0.13%	0.65%
Northrop Grumman CorpNOC	IMCV +0.51 points	0.13%	0.64%
Ford Motor CoF	IMCV +0.51 points	0.13%	0.64%
Exelon CorpEXC	IMCV +0.51 points	0.13%	0.64%
Occidental Petroleum CorpOXY	IMCV +0.50 points	0.13%	0.63%
Iqvia Holdings IncIQV	IMCV +0.49 points	0.13%	0.62%
Nike Class BNKE	IMCV +0.49 points	0.13%	0.62%
Consolidated EdisonED	IMCV +0.47 points	0.12%	0.59%
Norfolk Southern CorpNSC	IMCV +0.47 points	0.12%	0.59%
Dell Technologies Inc Class CDELL	IMCV +0.46 points	0.12%	0.58%
American Electric Power IncAEP	IMCV +0.45 points	0.12%	0.57%
Workday Class AWDAY	IMCV +0.45 points	0.11%	0.56%
Prudential Financial IncPRU	IMCV +0.44 points	0.11%	0.55%
American International GroupAIG	IMCV +0.44 points	0.11%	0.55%
SyscoSYY	IMCV +0.44 points	0.11%	0.55%
Bank of New York Mellon CorpBNY	IMCV +0.42 points	0.11%	0.53%
Crown Castle IncCCI	IMCV +0.41 points	0.11%	0.52%
KrogerKR	IMCV +0.41 points	0.11%	0.52%
Illinois Tool IncITW	IMCV +0.41 points	0.11%	0.52%
Diamondback EnergyFANG	IMCV +0.40 points	0.11%	0.51%
Air Products and ChemicalsAPD	IMCV +0.40 points	0.11%	0.51%
BiogenBIIB	IMCV +0.40 points	0.11%	0.51%
D R HortonDHI	IMCV +0.40 points	0.11%	0.51%
Crh Public Limited PLCCRH	IMCV +0.40 points	0.11%	0.51%
Hartford Insurance GroupHIG	IMCV +0.41 points	0.10%	0.51%
Kimberly ClarkKMB	IMCV +0.40 points	0.10%	0.50%
Emerson ElectricEMR	IMCV +0.40 points	0.10%	0.50%
Archer Daniels MidlandADM	IMCV +0.39 points	0.10%	0.49%
Realty Income ReitO	IMCV +0.39 points	0.10%	0.49%
PaychexPAYX	IMCV +0.38 points	0.10%	0.48%
United Airlines HoldingsUAL	IMCV +0.37 points	0.10%	0.47%
KenvueKVUE	IMCV +0.37 points	0.10%	0.47%
Targa ResourcesTRGP	IMCV +0.37 points	0.10%	0.47%
Simon Property Group Reit IncSPG	IMCV +0.36 points	0.10%	0.46%
Arch Capital GroupACGL	IMCV +0.37 points	0.09%	0.46%
Public Storage ReitPSA	IMCV +0.36 points	0.10%	0.46%
M&T BankMTB	IMCV +0.36 points	0.09%	0.45%
Ge Healthcare TechnologiesGEHC	IMCV +0.36 points	0.09%	0.45%
EbayEBAY	IMCV +0.36 points	0.09%	0.45%
CsxCSX	IMCV +0.35 points	0.09%	0.44%
Allstate CorpALL	IMCV +0.35 points	0.09%	0.44%
Huntington Bancshares IncHBAN	IMCV +0.34 points	0.09%	0.43%
Hp IncHPQ	IMCV +0.34 points	0.09%	0.43%
Cognizant Technology Solutions ClaCTSH	IMCV +0.33 points	0.08%	0.41%
HalliburtonHAL	IMCV +0.33 points	0.09%	0.41%
HumanaHUM	IMCV +0.33 points	0.08%	0.41%
Fifth Third BancorpFITB	IMCV +0.32 points	0.08%	0.40%
Netapp IncNTAP	IMCV +0.32 points	0.08%	0.40%
PG&E CorpPCG	IMCV +0.31 points	0.08%	0.39%
Roper TechnologiesROP	IMCV +0.31 points	0.08%	0.39%
Dollar General CorpDG	IMCV +0.31 points	0.08%	0.39%
Dte EnergyDTE	IMCV +0.30 points	0.08%	0.38%
Labcorp HoldingsLH	IMCV +0.30 points	0.08%	0.38%
Quest Diagnostics IncDGX	IMCV +0.29 points	0.08%	0.37%
Sherwin WilliamsSHW	IMCV +0.29 points	0.08%	0.37%
State StreetSTT	IMCV +0.30 points	0.07%	0.37%
Vici Pptys IncVICI	IMCV +0.29 points	0.07%	0.36%
Arthur J GallagherAJG	IMCV +0.29 points	0.07%	0.36%
Cardinal HealthCAH	IMCV +0.29 points	0.07%	0.36%
Agilent Technologies IncA	IMCV +0.29 points	0.07%	0.36%
Eversource EnergyES	IMCV +0.28 points	0.07%	0.35%
Ppg IndustriesPPG	IMCV +0.28 points	0.07%	0.35%
Firstenergy CorpFE	IMCV +0.28 points	0.07%	0.35%

All 372 ILCV 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.

ILCV vs IMCV Cost

Overpaying IMCV vs ILCV

$421

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

ILCV 0.04%
$849
IMCV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
IMCV 0.06%
Overpaying

Year by year

Year	ILCV	IMCV	Overpaying
10	$73	$110	$37
20	$288	$432	$144
30	$849	$1,270	$421

Expense ratio

0.04%ILCV, cheaper
0.06%IMCV

ILCV0.04%IMCV0.06%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

IMCV 4th cheapest of 99 funds

ILCV vs IMCV Dividends

Last 12 months to Oct 28, 2026

Yield (12M): ILCV 1.51%; IMCV 1.87%, better
Payout (12M): ILCV $1.65; IMCV $1.83
Last payment: ILCV $0.42; IMCV $0.52
Ex-dividend: ILCV Sep 15, 2026; IMCV Sep 15, 2026
Paid on: ILCV Sep 18, 2026; IMCV Sep 18, 2026
Frequency: ILCV Quarterly; IMCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

ILCV vs IMCV Risk

Fall from peak · 5 years

ILCV
IMCV

Risk facts

VolatilityStd dev, 3 years: ILCV 11.0%, betterIMCV 13.5%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.31, betterIMCV 0.94
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterIMCV −19.9%
Market sensitivityBeta, 5 years: ILCV 0.82IMCV 0.88; Market = 1

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