ILCV vs IUS: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

Invesco RAFI Strategic US ETF

IUSBNasdaq

Overlap

62.3%by weight

Expense ratio

ILCV −0.15pt a year

ILCV0.04%IUS0.19%

Avg volume · 30D

IUS 2.2×the volume

ILCV24.4KIUS54.8K

5Y return · a year

IUS +1.9pt

ILCV+12.6%IUS+14.5%

ILCV vs IUS Performance

Oct 29, 2021 – Oct 30, 2026

+81.1%ILCV+96.6%IUS

Expense ratio: ILCV 0.04%, better; IUS 0.19%
Fund size: ILCV $1.37B; IUS $1.01B
1Y total return: ILCV +21.0%; IUS +27.0%, better
Yield (12M): ILCV 1.51%, better; IUS 1.22%
Holdings: ILCV 375; IUS 535
Avg volume (30D): ILCV 24.4K sh; IUS 54.8K sh, better
NAV per share: ILCV $109.27; IUS $70.25
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, IUS, with each pillar’s weight
Pillar	ILCV	IUS
Cost30% weight	A99Higher	A71
Mission25% weight	A82Higher	B64
Risk15% weight	A90Higher	A89
Tradability15% weight	B64Higher	B63
Holdings10% weight	D39	B55Higher
Durability5% weight	A82Higher	B58

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and IUS 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 IUS 28th 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 25BQLCNorthern Trust US Quality Large Cap ETFScore 69
Rank 28BIUSInvesco RAFI Strategic US ETFScore 68
Rank 28BROUSHartford Multifactor US Equity ETFScore 68

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

IUSBInvesco RAFI Strategic US 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.

IUS Most index funds let the stock market decide who counts as big. IUS ranks US large caps by business size (sales, cash flow, book value, capital returned), screens them for quality, and charges 0.19%.

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.

IUS The fund tracks the Invesco Strategic US Index, which selects large US companies using business-size and quality measures and weights securities by float-adjusted business size.

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.

IUS At 0.19% a year it undercuts the typical fund in its US multifactor cohort, and sits below FNDX, the best-known fundamentally weighted large-cap rival.
Weighting by economic footprint instead of market cap dilutes the mega-cap crowd: roughly 500 names, none sized by how popular its shares happen to be.invesco.com
The quality screen is concrete, not vague: companies are ranked on how much revenue they wring from their assets and whether that ratio is improving.invesco.com
Live since 2018 and one of the stronger implementations in a crowded US multifactor field. Pays quarterly.

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.

IUS Thinly traded next to the category's giants, so bid-ask spreads can run wider.
The index is built by Invesco Indexing LLC, an affiliate of the fund's adviser, rather than an independent third-party provider.sec.gov
Reconstitutes once a year, so its business-size and quality readings refresh annually while prices move every day.invesco.com

Full ILCV profile⁠

Full IUS profile⁠

ILCV vs IUS Holdings

How ILCV and IUS differ

Overlap by weight

62.3%

Shared holdings make up 81.5% of ILCV and 79.3% of IUS.

Level by level

Holdings264 in both62.3%
Sector11 Sectors88.3%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in ILCV and IUS, widest gap first
Sector	More in ILCVMore in IUS	ILCV	IUS
Financials	ILCV +8.6 points	17.7%	9.1%
Communication	IUS +3.2 points	8.8%	12.0%
Consumer Discretionary	IUS +2.3 points	8.6%	10.9%
Energy	IUS +2.2 points	6.6%	8.8%
Health Care	IUS +2.0 points	13.4%	15.4%
Utilities	ILCV +2.0 points	3.0%	1.0%
Industrials	IUS +1.7 points	6.9%	8.6%
Real Estate	ILCV +1.2 points	1.7%	0.5%
Materials	IUS +0.4 points	2.1%	2.5%
Consumer Staples	Same weight	7.3%	7.3%
Technology	Same weight	23.9%	23.9%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and IUS, widest gap first
Country	More in ILCVMore in IUS	ILCV	IUS
United States	ILCV +0.6 points	99.2%	98.6%
Other countries (9)	IUS +0.6 points	0.8%	1.4%

Concentration

Weight in the 10 largest Holdings

ILCV34.4%
IUS26.7%

Securities held

ILCV372
IUS534

Asset class

ILCV: Equity
IUS: Equity

Holdings

Only in ILCV108
In both264
Only in IUS270

Only in ILCV

108 securities, 18.3% of ILCV by weight

JPMorgan Chase & Co2.60%
Alphabet Class C1.65%
Bank of America0.94%
Goldman Sachs Group0.77%
Wells Fargo0.73%
Morgan Stanley0.64%
Citigroup0.60%
Nextera Energy0.49%
BlackRock0.46%
Capital One Financial Corp0.36%
Prologis Reit0.35%
Southern0.30%
Cme Group Class A0.30%
Sandisk0.29%
Duke Energy Corp0.28%
Charles Schwab0.27%
Us Bancorp0.27%
Pnc Financial Services Group0.26%
Intercontinental Exchange Inc0.26%
Elevance Health Inc0.25%
American Tower Reit0.25%
Moderna0.22%
Truist Financial0.17%
Sempra0.16%
Aflac0.16%
Dominion Energy0.16%
Becton Dickinson0.15%
Metlife0.15%
Williams0.15%
Strategy Inc Class A0.15%
Xcel Energy Inc0.14%
Exelon Corp0.13%
American Electric Power Inc0.12%
Prudential Financial Inc0.11%
American International Group0.11%
Crh Public Limited PLC0.11%
Bank of New York Mellon Corp0.11%
Crown Castle Inc0.11%
Diamondback Energy0.11%
Synopsys0.10%
Kkr and Co Inc0.10%
Realty Income Reit0.10%
Simon Property Group Reit Inc0.10%
M&T Bank0.09%
Huntington Bancshares Inc0.09%
Fifth Third Bancorp0.08%
PG&E Corp0.08%
Arthur J Gallagher0.08%
Vici Pptys Inc0.08%
State Street0.08%

Only in IUS

270 securities, 20.6% of IUS by weight

NVIDIA Corp2.02%
Broadcom Inc0.67%
Cencora Inc0.64%
Elevance Health Inc0.53%
Eli Lilly & Co0.52%
Advanced Micro Devices Inc0.37%
General Electric Co0.35%
Intel Corp0.30%
Applied Materials Inc0.25%
Netflix Inc0.24%
Fiserv Inc0.22%
Becton Dickinson & Co0.22%
Johnson Controls International plc0.19%
Airbnb Inc0.18%
Best Buy Co Inc0.17%
Lam Research Corp0.17%
Freeport-McMoRan Inc0.16%
Amphenol Corp0.16%
ServiceNow Inc0.15%
StoneX Group Inc0.15%
Block Inc0.14%
Royal Caribbean Cruises Ltd0.14%
GE Vernova Inc0.14%
HF Sinclair Corp0.12%
TransDigm Group Inc0.12%
Intuitive Surgical Inc0.12%
Palo Alto Networks Inc0.12%
Marvell Technology Inc0.11%
Baker Hughes Co0.11%
CarMax Inc0.11%
KLA Corp0.11%
Arista Networks Inc0.11%
APA Corp0.10%
Aon PLC0.10%
Ecolab Inc0.10%
Moody's Corp0.10%
Vistra Corp0.10%
Snowflake Inc0.10%
Ternium SA0.10%
Molina Healthcare Inc0.10%
Everest Group Ltd0.09%
Lithia Motors Inc0.09%
Hilton Worldwide Holdings Inc0.09%
Cummins Inc0.09%
Motorola Solutions Inc0.09%
Albertsons Cos Inc0.09%
O'Reilly Automotive Inc0.09%
Okta Inc0.08%
Macy's Inc0.08%
Invesco Ltd0.08%

Weight gaps

The 100 widest of 264 Holdings in both funds.

Holding weights in ILCV and IUS, widest gap first
Holding	More in ILCVMore in IUS	ILCV	IUS
MicrosoftMSFT	ILCV +4.33 points	8.45%	4.12%
AppleAAPL	ILCV +2.90 points	7.24%	4.34%
Johnson & JohnsonJNJ	ILCV +0.91 points	1.89%	0.98%
Tesla IncTSLA	ILCV +0.90 points	1.24%	0.34%
Micron TechnologyMU	ILCV +0.86 points	1.35%	0.49%
Alphabet Class AGOOGL	IUS +0.82 points	2.04%	2.86%
AbbVieABBV	ILCV +0.80 points	1.46%	0.66%
Cisco Systems IncCSCO	ILCV +0.72 points	1.22%	0.50%
General MotorsGM	IUS +0.67 points	0.21%	0.88%
Coca-ColaKO	ILCV +0.62 points	1.03%	0.41%
Philip Morris InternationalPM	ILCV +0.61 points	0.92%	0.31%
Mckesson CorpMCK	IUS +0.61 points	0.24%	0.85%
Amazon.com IncAMZN	ILCV +0.59 points	3.08%	2.49%
Comcast Class ACMCSA	IUS +0.57 points	0.22%	0.79%
Dell Technologies Inc Class CDELL	IUS +0.51 points	0.11%	0.62%
Marathon PetroleumMPC	IUS +0.49 points	0.18%	0.67%
Cvs HealthCVS	IUS +0.49 points	0.33%	0.82%
AT&TT	IUS +0.47 points	0.41%	0.88%
CignaCI	IUS +0.44 points	0.22%	0.66%
Cardinal HealthCAH	IUS +0.42 points	0.07%	0.49%
ChevronCVX	IUS +0.41 points	1.23%	1.64%
Ford Motor CoF	IUS +0.41 points	0.14%	0.55%
Verizon Communications IncVZ	IUS +0.40 points	0.52%	0.92%
Centene CorpCNC	IUS +0.39 points	0.05%	0.44%
Exxonmobil Holdings CorpXOM	IUS +0.38 points	2.14%	2.52%
Amgen IncAMGN	ILCV +0.34 points	0.71%	0.37%
Linde PLCLIN	ILCV +0.32 points	0.66%	0.34%
UnitedHealth GroupUNH	IUS +0.31 points	1.05%	1.36%
Home DepotHD	ILCV +0.30 points	0.93%	0.63%
Procter & GamblePG	ILCV +0.29 points	1.06%	0.77%
Mcdonalds CorpMCD	ILCV +0.29 points	0.52%	0.23%
RtxRTX	ILCV +0.29 points	0.76%	0.47%
Merck & Co IncMRK	ILCV +0.28 points	1.03%	0.75%
KrogerKR	IUS +0.27 points	0.11%	0.38%
HumanaHUM	IUS +0.26 points	0.08%	0.34%
SalesforceCRM	IUS +0.24 points	0.52%	0.76%
Thermo Fisher ScientificTMO	ILCV +0.24 points	0.75%	0.51%
Gilead SciencesGILD	ILCV +0.23 points	0.58%	0.35%
Phillips 66PSX	IUS +0.23 points	0.31%	0.54%
Allstate CorpALL	IUS +0.23 points	0.09%	0.32%
International Business Machines CoIBM	ILCV +0.22 points	0.69%	0.47%
Union PacificUNP	ILCV +0.22 points	0.51%	0.29%
Texas InstrumentTXN	ILCV +0.21 points	0.45%	0.24%
PfizerPFE	IUS +0.19 points	0.49%	0.68%
PayPal HoldingsPYPL	IUS +0.19 points	0.14%	0.33%
Valero Energy CorpVLO	IUS +0.19 points	0.31%	0.50%
Accenture PLC Class AACN	IUS +0.18 points	0.43%	0.61%
ConocophillipsCOP	IUS +0.18 points	0.51%	0.69%
Kraft HeinzKHC	IUS +0.17 points	0.06%	0.23%
Target CorpTGT	IUS +0.16 points	0.20%	0.36%
OracleORCL	ILCV +0.16 points	0.35%	0.19%
Walt DisneyDIS	IUS +0.15 points	0.54%	0.69%
Charter Communications Class ACHTR	IUS +0.15 points	0.03%	0.18%
United Parcel Service Inc Class BUPS	IUS +0.14 points	0.23%	0.37%
Travelers CompaniesTRV	IUS +0.14 points	0.24%	0.38%
PepsicoPEP	ILCV +0.13 points	0.52%	0.39%
ChubbCB	IUS +0.14 points	0.36%	0.50%
QualcommQCOM	ILCV +0.13 points	0.56%	0.43%
Vertex PharmaceuticalsVRTX	ILCV +0.12 points	0.27%	0.15%
Hp IncHPQ	IUS +0.13 points	0.08%	0.21%
Archer Daniels MidlandADM	IUS +0.12 points	0.10%	0.22%
Automatic Data Processing IncADP	ILCV +0.12 points	0.32%	0.20%
Altria Group IncMO	ILCV +0.11 points	0.36%	0.25%
Costco Wholesale CorpCOST	ILCV +0.12 points	0.71%	0.59%
NucorNUE	IUS +0.11 points	0.07%	0.18%
Occidental Petroleum CorpOXY	IUS +0.11 points	0.13%	0.24%
Waste Management IncWM	ILCV +0.10 points	0.24%	0.14%
Caterpillar IncCAT	ILCV +0.10 points	0.38%	0.28%
Lennar A Class ALEN	IUS +0.10 points	0.05%	0.15%
ProgressivePGR	IUS +0.10 points	0.38%	0.48%
Lowes Companies IncLOW	ILCV +0.09 points	0.33%	0.24%
D R HortonDHI	IUS +0.10 points	0.10%	0.20%
Td SynnexSNX	IUS +0.10 points	0.03%	0.13%
Abbott LaboratoriesABT	ILCV +0.09 points	0.51%	0.42%
3MMMM	ILCV +0.09 points	0.26%	0.17%
Delta Air LinesDAL	ILCV +0.09 points	0.15%	0.06%
SyscoSYY	IUS +0.09 points	0.11%	0.20%
Arch Capital GroupACGL	IUS +0.09 points	0.10%	0.19%
United RentalsURI	IUS +0.09 points	0.07%	0.16%
Booking HoldingsBKNG	ILCV +0.09 points	0.32%	0.23%
Us Foods HoldingUSFD	IUS +0.09 points	0.03%	0.12%
Eog ResourcesEOG	IUS +0.09 points	0.24%	0.33%
Tyson Foods Inc Class ATSN	IUS +0.08 points	0.05%	0.13%
Markel GroupMKL	IUS +0.08 points	0.02%	0.10%
Eaton PLCETN	ILCV +0.08 points	0.26%	0.18%
StrykerSYK	ILCV +0.08 points	0.23%	0.15%
International PaperIP	IUS +0.08 points	0.03%	0.11%
Boston ScientificBSX	ILCV +0.08 points	0.18%	0.10%
Hca HealthcareHCA	IUS +0.08 points	0.20%	0.28%
Berkshire Hathaway Inc Class BBRK.B	ILCV +0.08 points	2.84%	2.76%
Cognizant Technology Solutions ClaCTSH	IUS +0.08 points	0.08%	0.16%
American ExpressAXP	IUS +0.08 points	0.35%	0.43%
Expedia GroupEXPE	IUS +0.08 points	0.04%	0.12%
Expand EnergyEXE	IUS +0.08 points	0.02%	0.10%
T Mobile Us IncTMUS	IUS +0.08 points	0.20%	0.28%
NewmontNEM	ILCV +0.07 points	0.33%	0.26%
Te Connectivity PLCTEL	IUS +0.07 points	0.07%	0.14%
CsxCSX	IUS +0.07 points	0.09%	0.16%
Emerson ElectricEMR	IUS +0.07 points	0.11%	0.18%
Analog DevicesADI	ILCV +0.07 points	0.28%	0.21%

All 372 ILCV holdings⁠All 534 IUS 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 IUS Cost

Overpaying IUS vs ILCV

$3,103

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

ILCV 0.04%
$849
IUS 0.19%
$3,952

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
IUS 0.19%
Overpaying

Year by year

Year	ILCV	IUS	Overpaying
10	$73	$347	$274
20	$288	$1,351	$1,063
30	$849	$3,952	$3,103

Expense ratio

0.04%ILCV, cheaper
0.19%IUS

ILCV0.04%IUS0.19%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

IUS 26th cheapest of 99 funds

ILCV vs IUS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCV 1.51%, better; IUS 1.22%
Payout (12M): ILCV $1.65; IUS $0.86
Last payment: ILCV $0.42; IUS $0.23
Ex-dividend: ILCV Sep 15, 2026; IUS Sep 21, 2026
Paid on: ILCV Sep 18, 2026; IUS Sep 25, 2026
Frequency: ILCV Quarterly; IUS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

IUSQuarterly · 32 paymentsAll IUS payments⁠

ILCV vs IUS Risk

Fall from peak · 5 years

ILCV
IUS

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterIUS 11.2%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57IUS 1.58, better
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterIUS −18.7%
Market sensitivityBeta, 5 years: ILCV 0.82IUS 0.88; Market = 1

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