ILCV vs OMFS

ILCVAiShares Morningstar Value ETF

OMFSCInvesco Russell 2000 Dynamic Multifactor 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.

OMFS Most multifactor funds pick a blend of tilts and hold it forever. OMFS's index rereads the economic cycle and reshuffles its tilts across the Russell 2000, making it one of the few small-cap factor funds built to change its mind on a schedule.

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.

OMFS The fund invests at least 80% of its assets in securities comprising its Index. The Index uses rules-based reweighting of Russell 2000 small-cap securities according to economic cycles and market conditions.

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.

• OMFS The index reweights Russell 2000 small caps by economic cycle and market conditions, leaning on styles like value, momentum, quality and low volatility rather than freezing one blend.invesco.com
• Roughly 1,100 small caps, with at least 80% of assets in index securities. The tilts rotate; the diversification underneath stays broad.
• Live since 2017, so the rotation rules have run through real regimes, not just a backtest. Distributions come quarterly.
• Holdings stay close to the index it names, one of the tighter mandate implementations among multifactor funds.

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.

• OMFS 0.39% a year sits above the typical multifactor ETF and far above plain-vanilla index products in the group. The cycle rotation is what the extra buys.
• Thinly traded, so bid-ask spreads can run wider than the household-name small-cap funds. Matters most on big or hurried orders.
• PSC, the other multifactor fund here tied to the same Russell 2000 starting universe, charges 0.38%. The choice between them is about method, not price.

Full ILCV profile⁠

Full OMFS profile⁠