ILCV vs JPUS: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

JPMorgan Diversified Return U.S. Equity ETF

JPUSBNYSE Arca

Overlap

26.3%by weight

Expense ratio

ILCV −0.14pt a year

ILCV0.04%JPUS0.18%

Avg volume · 30D

ILCV 3.0×the volume

ILCV24.4KJPUS8.12K

10Y return · a year

ILCV +0.4pt

ILCV+12.3%JPUS+11.9%

ILCV vs JPUS Performance

Oct 29, 2021 – Oct 30, 2026

+81.1%ILCV+57.2%JPUS

Expense ratio: ILCV 0.04%, better; JPUS 0.18%
Fund size: ILCV $1.37B; JPUS $466M
1Y total return: ILCV +21.0%, better; JPUS +19.7%
Yield (12M): ILCV 1.51%; JPUS 2.00%, better
Holdings: ILCV 375; JPUS 370
Avg volume (30D): ILCV 24.4K sh, better; JPUS 8.12K sh
NAV per share: ILCV $109.27; JPUS $142.33
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, JPUS, with each pillar’s weight
Pillar	ILCV	JPUS
Cost30% weight	A99Higher	A77
Mission25% weight	A82Higher	A78
Risk15% weight	A90Higher	A79
Tradability15% weight	B64Higher	D29
Holdings10% weight	D39	A81Higher
Durability5% weight	A82Higher	B63

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and JPUS 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 JPUS 25th 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 25BFLRGFidelity U.S. Multifactor ETFScore 69
Rank 25BJPUSJPMorgan Diversified Return U.S. Equity ETFScore 69
Rank 25BQLCNorthern Trust US Quality Large Cap ETFScore 69

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

JPUSBJPMorgan Diversified Return U.S. Equity 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.

JPUS Most US equity funds start from market cap. JPUS starts from a J.P. Morgan index that spreads its bets across value, quality and momentum, and charges roughly half the typical multifactor fee to do it.

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.

JPUS The fund seeks domestic equity exposure while aiming for better risk-adjusted returns than a market-cap-weighted index.

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.

JPUS 0.18% a year against a 0.32% median for its multifactor peer group. The factor tilt costs less here than on most of the shelf.
Three factors (value, quality, momentum) spread across roughly 400 stocks, so no single style has to be in favor for the portfolio to do its job.jpmorgan.com
Running its own index since 2015, with a stated aim of better risk-adjusted returns than a market-cap-weighted benchmark rather than raw beat-the-market bragging.jpmorgan.com
The underlying basket is one of the better-built ones in its multifactor cohort, and the fund sits in the upper half of that group overall.

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.

JPUS Thinly traded next to the household names in the category, so spreads and order size matter more at the moment you hit the button.
Plainer peers undercut it on fee: VONV at 0.06%, VYM at 0.04%. The multifactor machinery is what the extra basis points buy.
Built to look different from the cap-weighted market, which cuts both ways depending on which stocks are leading.

Full ILCV profile⁠

Full JPUS profile⁠

ILCV vs JPUS Holdings

How ILCV and JPUS differ

Overlap by weight

26.3%

Shared holdings make up 54.1% of JPUS and 52.0% of ILCV.

Level by level

Holdings178 in both26.3%
Sector11 Sectors72.0%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in ILCV and JPUS, widest gap first
Sector	More in ILCVMore in JPUS	ILCV	JPUS
Technology	ILCV +13.4 points	23.9%	10.5%
Financials	ILCV +9.3 points	17.7%	8.3%
Real Estate	JPUS +9.0 points	1.7%	10.7%
Utilities	JPUS +6.7 points	3.0%	9.7%
Materials	JPUS +4.7 points	2.1%	6.8%
Consumer Staples	JPUS +4.1 points	7.3%	11.4%
Communication	ILCV +4.0 points	8.8%	4.8%
Industrials	JPUS +3.1 points	6.9%	10.0%
Health Care	ILCV +0.9 points	13.4%	12.5%
Energy	JPUS +0.5 points	6.6%	7.1%
Consumer Discretionary	ILCV +0.2 points	8.6%	8.4%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and JPUS, widest gap first
Country	More in ILCVMore in JPUS	ILCV	JPUS
United States	ILCV +0.1 points	99.2%	99.1%
Switzerland	JPUS +0.3 points	0.4%	0.7%
Brazil	ILCV +0.1 points	0.1%	0.0%
India	JPUS +0.1 points	0.0%	0.1%
United Kingdom	ILCV +0.1 points	0.1%	0.0%
Belgium	JPUS +0.1 points	0.0%	0.1%
China	ILCV +0.1 points	0.1%	0.0%
Ireland	ILCV +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCV34.4%
JPUS4.6%

Securities held

ILCV372
JPUS369

Asset class

ILCV: Equity
JPUS: Equity

Holdings

Only in ILCV194
In both178
Only in JPUS191

Only in ILCV

194 securities, 47.8% of ILCV by weight

Microsoft8.45%
Amazon.com Inc3.08%
JPMorgan Chase & Co2.60%
Meta Platforms Class A2.50%
Alphabet Class C1.65%
Micron Technology1.35%
Tesla Inc1.24%
Visa Class A1.00%
Home Depot0.93%
Walmart0.91%
Goldman Sachs Group0.77%
Rtx0.76%
Wells Fargo0.73%
Costco Wholesale Corp0.71%
Morgan Stanley0.64%
Mastercard Class A0.63%
Citigroup0.60%
Walt Disney0.54%
Salesforce0.52%
Mcdonalds Corp0.52%
Abbott Laboratories0.51%
BlackRock0.46%
Texas Instrument0.45%
Danaher0.43%
Lockheed Martin0.36%
American Express0.35%
Oracle0.35%
Automatic Data Processing Inc0.32%
Cme Group Class A0.30%
Sandisk0.29%
Adobe Inc0.28%
Vertex Pharmaceuticals0.27%
Uber Technologies0.27%
Charles Schwab0.27%
S&P Global0.26%
Pnc Financial Services Group0.26%
3M0.26%
Intercontinental Exchange Inc0.26%
Elevance Health Inc0.25%
Deere0.25%
American Tower Reit0.25%
United Parcel Service Inc Class B0.23%
Slb0.23%
Stryker0.23%
Moderna0.22%
General Motors0.21%
Honeywell International Inc0.20%
Hca Healthcare0.20%
Blackstone0.18%
Boston Scientific0.18%

Only in JPUS

191 securities, 45.9% of JPUS by weight

Apa Corp Common Stock0.49%
Exelixis Inc Common Stock0.47%
Host Hotels & Resorts0.46%
Halozyme Therapeutics0.46%
Pinnacle West Capital0.43%
Skyworks Solutions Inc0.42%
Monster Beverage Corp0.42%
Macy's Inc Common Stock0.42%
Lamar Advertising Co0.42%
J M Smucker Co/The Common0.41%
Becton Dickinson & Co0.41%
Omega Healthcare0.41%
Ecolab Inc Common Stock0.40%
Ugi Corp Common Stock0.40%
Welltower Inc0.40%
Jones Lang Lasalle Inc0.39%
Ww Grainger Inc Common0.39%
Amphenol Corp Common0.38%
Clean Harbors Inc Common0.38%
Iridium Communications0.38%
Oge Energy Corp Common0.38%
Coca-Cola Consolidated0.38%
Lumentum Holdings Inc0.37%
Motorola Solutions Inc0.37%
Vivmark Residential Reit0.37%
Roku Inc Common Stock USD0.37%
Hf Sinclair Corp Common0.36%
Ralph Lauren Corp Common0.36%
NVIDIA Corp Common Stock0.36%
Regency Centers Corp0.35%
Jazz Pharmaceuticals PLC0.35%
Broadcom Inc Common0.35%
Aes Corp/The Common0.35%
Arista Networks Inc0.35%
Antero Midstream Corp0.35%
Freeport-Mcmoran Inc0.34%
Darling Ingredients Inc0.34%
Fastenal Co Common Stock0.34%
Ciena Corp Common Stock0.34%
Royal Gold Inc0.34%
Quanta Services Inc0.34%
Timken Co/The Common0.34%
Cencora Inc Common Stock0.33%
Brixmor Property Group0.33%
Mgic Investment Corp0.33%
National Fuel Gas Co0.33%
Penske Automotive Group0.33%
Millicom International0.33%
Cubesmart Reit USD 0.010.33%
Echostar Corp Common0.32%

Weight gaps

The 100 widest of 178 Holdings in both funds.

Holding weights in ILCV and JPUS, widest gap first
Holding	More in ILCVMore in JPUS	ILCV	JPUS
AppleAAPL	ILCV +6.81 points	7.24%	0.43%
Berkshire Hathaway Inc Class BBRK.B	ILCV +2.47 points	2.84%	0.37%
Alphabet Class AGOOGL	ILCV +1.87 points	2.04%	0.17%
Exxonmobil Holdings CorpXOM	ILCV +1.67 points	2.14%	0.47%
Johnson & JohnsonJNJ	ILCV +1.49 points	1.89%	0.40%
AbbVieABBV	ILCV +1.03 points	1.46%	0.43%
UnitedHealth GroupUNH	ILCV +0.90 points	1.05%	0.15%
Cisco Systems IncCSCO	ILCV +0.87 points	1.22%	0.35%
ChevronCVX	ILCV +0.78 points	1.23%	0.45%
Procter & GamblePG	ILCV +0.68 points	1.06%	0.38%
Merck & Co IncMRK	ILCV +0.66 points	1.03%	0.37%
Bank of AmericaBAC	ILCV +0.64 points	0.94%	0.30%
Coca-ColaKO	ILCV +0.60 points	1.03%	0.43%
Thermo Fisher ScientificTMO	ILCV +0.56 points	0.75%	0.19%
International Business Machines CoIBM	ILCV +0.48 points	0.69%	0.21%
Philip Morris InternationalPM	ILCV +0.46 points	0.92%	0.46%
United TherapeuticsUTHR	JPUS +0.42 points	0.03%	0.45%
Permian Resources Class APR	JPUS +0.39 points	0.06%	0.45%
Williams Sonoma IncWSM	JPUS +0.39 points	0.05%	0.44%
Church and Dwight IncCHD	JPUS +0.38 points	0.03%	0.41%
Reliance Steel & AluminumRS	JPUS +0.37 points	0.03%	0.40%
EvergyEVRG	JPUS +0.36 points	0.06%	0.42%
Tyson Foods Inc Class ATSN	JPUS +0.36 points	0.05%	0.41%
Us Foods HoldingUSFD	JPUS +0.36 points	0.03%	0.39%
Linde PLCLIN	ILCV +0.36 points	0.66%	0.30%
NucorNUE	JPUS +0.35 points	0.07%	0.42%
GarminGRMN	JPUS +0.36 points	0.04%	0.40%
Edison InternationalEIX	JPUS +0.36 points	0.06%	0.42%
Tenet Healthcare CorpTHC	JPUS +0.35 points	0.06%	0.41%
Royalty Pharma PLC Class ARPRX	JPUS +0.35 points	0.07%	0.42%
Kimco Realty Reit CorpKIM	JPUS +0.35 points	0.05%	0.40%
Quest Diagnostics IncDGX	JPUS +0.35 points	0.08%	0.43%
Entergy CorpETR	JPUS +0.34 points	0.07%	0.41%
First Citizens Bancshares Class AFCNCA	JPUS +0.34 points	0.04%	0.38%
Netapp IncNTAP	JPUS +0.33 points	0.08%	0.41%
NisourceNI	JPUS +0.33 points	0.03%	0.36%
AmerenAEE	JPUS +0.33 points	0.05%	0.38%
Technipfmc PLCFTI	JPUS +0.33 points	0.02%	0.35%
Simon Property Group Reit IncSPG	JPUS +0.32 points	0.10%	0.42%
Wec Energy GroupWEC	JPUS +0.32 points	0.06%	0.38%
Cf Industries Holdings IncCF	JPUS +0.32 points	0.05%	0.37%
Eversource EnergyES	JPUS +0.32 points	0.07%	0.39%
Consolidated EdisonED	JPUS +0.32 points	0.12%	0.44%
ViatrisVTRS	JPUS +0.31 points	0.06%	0.37%
Expedia GroupEXPE	JPUS +0.31 points	0.04%	0.35%
Accenture PLC Class AACN	ILCV +0.31 points	0.43%	0.12%
Steel Dynamics IncSTLD	JPUS +0.31 points	0.03%	0.34%
American Electric Power IncAEP	JPUS +0.30 points	0.12%	0.42%
Southern Copper CorpSCCO	JPUS +0.31 points	0.05%	0.36%
Kraft HeinzKHC	JPUS +0.30 points	0.06%	0.36%
Public Storage ReitPSA	JPUS +0.30 points	0.10%	0.40%
Labcorp HoldingsLH	JPUS +0.29 points	0.09%	0.38%
Cardinal HealthCAH	JPUS +0.30 points	0.07%	0.37%
Ppl CorpPPL	JPUS +0.29 points	0.05%	0.34%
Exelon CorpEXC	JPUS +0.29 points	0.13%	0.42%
Td SynnexSNX	JPUS +0.29 points	0.03%	0.32%
Incyte CorpINCY	JPUS +0.29 points	0.03%	0.32%
Hershey FoodsHSY	JPUS +0.29 points	0.02%	0.31%
W. P. Carey ReitWPC	JPUS +0.29 points	0.04%	0.33%
QualcommQCOM	ILCV +0.28 points	0.56%	0.28%
Snap On IncSNA	JPUS +0.28 points	0.03%	0.31%
Amgen IncAMGN	ILCV +0.28 points	0.71%	0.43%
Marathon PetroleumMPC	JPUS +0.28 points	0.18%	0.46%
Devon EnergyDVN	JPUS +0.27 points	0.16%	0.43%
Firstenergy CorpFE	JPUS +0.28 points	0.07%	0.35%
State StreetSTT	JPUS +0.27 points	0.08%	0.35%
VylorVYLR	JPUS +0.27 points	0.06%	0.33%
Essex Property Trust ReitESS	JPUS +0.27 points	0.02%	0.29%
Kimberly ClarkKMB	JPUS +0.27 points	0.10%	0.37%
General Mills IncGIS	JPUS +0.27 points	0.05%	0.32%
Archer Daniels MidlandADM	JPUS +0.26 points	0.10%	0.36%
Packaging Corp of AmericaPKG	JPUS +0.27 points	0.03%	0.30%
Colgate-PalmoliveCL	JPUS +0.26 points	0.14%	0.40%
Republic Services IncRSG	JPUS +0.26 points	0.05%	0.31%
Hartford Insurance GroupHIG	JPUS +0.26 points	0.10%	0.36%
SyscoSYY	JPUS +0.26 points	0.11%	0.37%
ResmedRMD	JPUS +0.25 points	0.05%	0.30%
Synchrony FinancialSYF	JPUS +0.25 points	0.07%	0.32%
Bank of New York Mellon CorpBNY	JPUS +0.25 points	0.11%	0.36%
Ross Stores IncROST	JPUS +0.24 points	0.06%	0.30%
Vici Pptys IncVICI	JPUS +0.24 points	0.08%	0.32%
Darden Restaurants IncDRI	JPUS +0.24 points	0.04%	0.28%
WilliamsWMB	JPUS +0.24 points	0.15%	0.39%
Public Service Enterprise GroupPEG	JPUS +0.23 points	0.07%	0.30%
Atmos EnergyATO	JPUS +0.24 points	0.04%	0.28%
Citizens Financial Group IncCFG	JPUS +0.23 points	0.04%	0.27%
PepsicoPEP	ILCV +0.23 points	0.52%	0.29%
BiogenBIIB	JPUS +0.23 points	0.10%	0.33%
PultegroupPHM	JPUS +0.22 points	0.07%	0.29%
Constellation Brands Class ASTZ	JPUS +0.23 points	0.05%	0.28%
KrogerKR	JPUS +0.22 points	0.11%	0.33%
Fox Class AFOXA	JPUS +0.21 points	0.04%	0.25%
Dte EnergyDTE	JPUS +0.22 points	0.08%	0.30%
Fifth Third BancorpFITB	JPUS +0.22 points	0.08%	0.30%
TapestryTPR	JPUS +0.22 points	0.02%	0.24%
Annaly Capital Management ReitNLY	JPUS +0.21 points	0.04%	0.25%
Charter Communications Class ACHTR	JPUS +0.21 points	0.03%	0.24%
Leidos HoldingsLDOS	JPUS +0.21 points	0.05%	0.26%
Booking HoldingsBKNG	ILCV +0.20 points	0.32%	0.12%
Hewlett Packard EnterpriseHPE	JPUS +0.20 points	0.22%	0.42%

All 372 ILCV holdings⁠All 369 JPUS 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 JPUS Cost

Overpaying JPUS vs ILCV

$2,900

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

ILCV 0.04%
$849
JPUS 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
JPUS 0.18%
Overpaying

Year by year

Year	ILCV	JPUS	Overpaying
10	$73	$328	$255
20	$288	$1,281	$993
30	$849	$3,749	$2,900

Expense ratio

0.04%ILCV, cheaper
0.18%JPUS

ILCV0.04%JPUS0.18%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

JPUS 24th cheapest of 99 funds

ILCV vs JPUS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCV 1.51%; JPUS 2.00%, better
Payout (12M): ILCV $1.65; JPUS $2.85
Last payment: ILCV $0.42; JPUS $0.73
Ex-dividend: ILCV Sep 15, 2026; JPUS Sep 22, 2026
Paid on: ILCV Sep 18, 2026; JPUS Sep 24, 2026
Frequency: ILCV Quarterly; JPUS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

JPUSQuarterly · 36 paymentsAll JPUS payments⁠

ILCV vs JPUS Risk

Fall from peak · 5 years

ILCV
JPUS

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterJPUS 12.1%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterJPUS 1.11
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterJPUS −19.0%
Market sensitivityBeta, 5 years: ILCV 0.82JPUS 0.67; Market = 1

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