ILCV vs ONEO: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

State Street SPDR Russell 1000 Momentum Focus ETF

ONEOANYSE Arca

Overlap

25.7%by weight

Expense ratio

ILCV −0.16pt a year

ILCV0.04%ONEO0.20%

Avg volume · 30D

ILCV 55.8×the volume

ILCV24.4KONEO437

10Y return · a year

ILCV +0.3pt

ILCV+12.3%ONEO+12.0%

ILCV vs ONEO Performance

Oct 29, 2021 – Oct 30, 2026

+81.1%ILCV+60.1%ONEO

Expense ratio: ILCV 0.04%, better; ONEO 0.20%
Fund size: ILCV $1.37B; ONEO $31M
1Y total return: ILCV +21.0%; ONEO +22.5%, better
Yield (12M): ILCV 1.51%, better; ONEO 1.23%
Holdings: ILCV 375; ONEO 934
Avg volume (30D): ILCV 24.4K sh, better; ONEO 437 sh
NAV per share: ILCV $109.27; ONEO $155.51
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, ONEO, with each pillar’s weight
Pillar	ILCV	ONEO
Cost30% weight	A99Higher	A71
Mission25% weight	A82	A100Higher
Risk15% weight	A90Higher	B57
Tradability15% weight	B64Higher	D37
Holdings10% weight	D39	A83Higher
Durability5% weight	A82Higher	B58

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and ONEO 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 ONEO 18th 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 18AJHMLJohn Hancock Multifactor Large Cap ETFScore 71
Rank 18AONEOState Street SPDR Russell 1000 Momentum Focus ETFScore 71
Rank 18ATILTNorthern Trust Morningstar US Market Factor Tilt ETFScore 71

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

ONEOAState Street SPDR Russell 1000 Momentum Focus 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.

ONEO Momentum with a chaperone. ONEO's index chases the market's winners but runs them through quality and value screens first, then spreads the bet across roughly 900 large caps instead of a narrow hot-stock slice.

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.

ONEO The fund seeks to track, before fees and expenses, the total return of the Russell 1000 Momentum Focused Factor 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.

ONEO Momentum doesn't ride alone here: the index screens for quality and value alongside it, tempering the usual factor habit of crowding into whatever just ran.ssga.com
0.20% a year, below the typical US multifactor fund and under Schwab's FNDX at 0.25%. Cheap shelf space for a rules-based tilt.
Roughly 900 stocks, close to full Russell 1000 breadth, so no single name steers the fund. Live since 2015, so it carries a real multi-cycle record, not a backtest.
Portfolio holds US large caps and pays out quarterly, with State Street as the sponsor behind it.

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.

ONEO Small and thinly traded. Spreads and market impact can matter more to your all-in cost than the 0.20% fee, especially on chunky orders.
Blending three factors across roughly 900 names dilutes each tilt. A concentrated pure-momentum fund will look and move very differently.
Sits in a crowded multifactor aisle where the top-ranked options include cheaper plain-vanilla builds like VONV at 0.06% and IUSG at 0.04%.

Full ILCV profile⁠

Full ONEO profile⁠

ILCV vs ONEO Holdings

How ILCV and ONEO differ

Overlap by weight

25.7%

Shared holdings make up 95.1% of ILCV and 51.4% of ONEO.

Level by level

Holdings355 in both25.7%
Sector11 Sectors73.4%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in ILCV and ONEO, widest gap first
Sector	More in ILCVMore in ONEO	ILCV	ONEO
Industrials	ONEO +11.4 points	6.9%	18.3%
Technology	ILCV +9.0 points	23.9%	14.9%
Financials	ILCV +7.5 points	17.7%	10.2%
Communication	ILCV +7.4 points	8.8%	1.4%
Consumer Discretionary	ONEO +6.1 points	8.6%	14.7%
Utilities	ONEO +3.0 points	3.0%	6.0%
Materials	ONEO +2.8 points	2.1%	4.9%
Real Estate	ONEO +1.8 points	1.7%	3.5%
Energy	ONEO +1.6 points	6.6%	8.2%
Health Care	ILCV +1.5 points	13.4%	11.9%
Consumer Staples	ILCV +1.1 points	7.3%	6.2%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and ONEO, widest gap first
Country	More in ILCVMore in ONEO	ILCV	ONEO
United States	ILCV +0.2 points	99.2%	99.0%
Switzerland	ILCV +0.1 points	0.4%	0.3%
Ireland	ONEO +0.1 points	0.1%	0.2%
Brazil	Same weight	0.1%	0.1%
United Kingdom	Same weight	0.1%	0.1%
Canada	ONEO +0.1 points	0.0%	0.1%
Mexico	ONEO +0.1 points	0.0%	0.1%
China	ILCV +0.1 points	0.1%	0.0%
Other countries (3)	ONEO +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

ILCV34.4%
ONEO5.8%

Securities held

ILCV372
ONEO932

Asset class

ILCV: Equity
ONEO: Equity

Holdings

Only in ILCV17
In both355
Only in ONEO577

Only in ILCV

17 securities, 4.7% of ILCV by weight

JPMorgan Chase & Co2.60%
Goldman Sachs Group0.77%
Oracle0.35%
Moderna0.22%
Strategy Inc Class A0.15%
Mercadolibre0.12%
Synopsys0.10%
Kkr and Co Inc0.10%
Te Connectivity PLC0.07%
Amcor PLC0.06%
Revolution Medicines0.06%
Nxp Semiconductors NV0.06%
International Paper0.03%
Coreweave Class A0.02%
Rivian Automotive Class A0.01%
Liberty Media Series A<0.01%
Hologic Inc0.00%

Only in ONEO

577 securities, 48.4% of ONEO by weight

Anglogold Ashanti PLC0.70%
Apa Corp0.52%
Skyworks Solutions Inc0.47%
Everpure Inc A0.44%
Twilio Inc A0.42%
Mueller Industries Inc0.34%
Coca Cola Consolidated Inc0.34%
Exelixis Inc0.33%
Best Buy Co Inc0.32%
Cboe Global Markets Inc0.31%
Halozyme Therapeutics Inc0.31%
Emcor Group Inc0.30%
Hf Sinclair Corp0.30%
Borgwarner Inc0.30%
Ryder System Inc0.30%
Affiliated Managers Group0.29%
Five Below0.29%
Match Group Inc0.29%
Renaissancere Holdings Ltd0.28%
Credo Technology Group Holdi0.28%
Verisign Inc0.27%
Hunt (Jb) Transprt Svcs Inc0.27%
Host Hotels & Resorts Inc0.27%
Huntington Ingalls Industrie0.27%
Evercore Inc A0.27%
Mongodb Inc0.26%
Jones Lang Lasalle Inc0.26%
Medpace Holdings Inc0.26%
Teradyne Inc0.26%
Maplebear Inc0.26%
Chord Energy Corp0.25%
C.h. Robinson Worldwide Inc0.25%
Ralph Lauren Corp0.25%
Monolithic Power Systems Inc0.24%
Toro Co0.23%
Bj’s Wholesale Club Holdings0.23%
West Pharmaceutical Services0.22%
Aes Corp0.22%
Sanmina Corp0.22%
Range Resources Corp0.21%
Millicom Intl Cellular S.a.0.21%
Fedex Freight Holding Co0.20%
Globus Medical Inc A0.20%
Astera Labs Inc0.20%
Nov Inc0.20%
Ww Grainger Inc0.20%
Fortinet Inc0.20%
Jabil Inc0.20%
Toll Brothers Inc0.19%
Onto Innovation Inc0.19%

Weight gaps

The 100 widest of 355 Holdings in both funds.

Holding weights in ILCV and ONEO, widest gap first
Holding	More in ILCVMore in ONEO	ILCV	ONEO
MicrosoftMSFT	ILCV +8.38 points	8.45%	0.07%
AppleAAPL	ILCV +6.99 points	7.24%	0.25%
Amazon.com IncAMZN	ILCV +3.04 points	3.08%	0.04%
Berkshire Hathaway Inc Class BBRK.B	ILCV +2.81 points	2.84%	0.03%
Meta Platforms Class AMETA	ILCV +2.46 points	2.50%	0.04%
Exxonmobil Holdings CorpXOM	ILCV +2.06 points	2.14%	0.08%
Alphabet Class AGOOGL	ILCV +1.95 points	2.04%	0.09%
Johnson & JohnsonJNJ	ILCV +1.83 points	1.89%	0.06%
Alphabet Class CGOOG	ILCV +1.58 points	1.65%	0.07%
AbbVieABBV	ILCV +1.42 points	1.46%	0.04%
Micron TechnologyMU	ILCV +1.31 points	1.35%	0.04%
Tesla IncTSLA	ILCV +1.23 points	1.24%	<0.01%
ChevronCVX	ILCV +1.20 points	1.23%	0.03%
Cisco Systems IncCSCO	ILCV +1.18 points	1.22%	0.04%
Procter & GamblePG	ILCV +1.01 points	1.06%	0.05%
Coca-ColaKO	ILCV +1.00 points	1.03%	0.03%
Visa Class AV	ILCV +0.98 points	1.00%	0.02%
Bank of AmericaBAC	ILCV +0.93 points	0.94%	0.01%
UnitedHealth GroupUNH	ILCV +0.92 points	1.05%	0.13%
Merck & Co IncMRK	ILCV +0.92 points	1.03%	0.11%
Home DepotHD	ILCV +0.90 points	0.93%	0.03%
WalmartWMT	ILCV +0.89 points	0.91%	0.02%
Philip Morris InternationalPM	ILCV +0.86 points	0.92%	0.06%
Wells FargoWFC	ILCV +0.72 points	0.73%	<0.01%
RtxRTX	ILCV +0.71 points	0.76%	0.05%
International Business Machines CoIBM	ILCV +0.68 points	0.69%	0.01%
Thermo Fisher ScientificTMO	ILCV +0.67 points	0.75%	0.08%
Costco Wholesale CorpCOST	ILCV +0.67 points	0.71%	0.04%
Morgan StanleyMS	ILCV +0.63 points	0.64%	<0.01%
Amgen IncAMGN	ILCV +0.62 points	0.71%	0.09%
Linde PLCLIN	ILCV +0.61 points	0.66%	0.05%
Mastercard Class AMA	ILCV +0.60 points	0.63%	0.03%
CitigroupC	ILCV +0.59 points	0.60%	0.01%
Allstate CorpALL	ONEO +0.57 points	0.09%	0.66%
Expedia GroupEXPE	ONEO +0.52 points	0.04%	0.56%
OvintivOVV	ONEO +0.49 points	0.06%	0.55%
Archer Daniels MidlandADM	ONEO +0.49 points	0.10%	0.59%
United TherapeuticsUTHR	ONEO +0.48 points	0.03%	0.51%
Mcdonalds CorpMCD	ILCV +0.48 points	0.52%	0.04%
Permian Resources Class APR	ONEO +0.47 points	0.06%	0.53%
Zoom Communications Class AZM	ONEO +0.46 points	0.07%	0.53%
Cf Industries Holdings IncCF	ONEO +0.46 points	0.05%	0.51%
Abbott LaboratoriesABT	ILCV +0.45 points	0.51%	0.06%
Walt DisneyDIS	ILCV +0.45 points	0.54%	0.09%
PepsicoPEP	ILCV +0.44 points	0.52%	0.08%
Gilead SciencesGILD	ILCV +0.43 points	0.58%	0.15%
BlackRockBLK	ILCV +0.43 points	0.46%	0.03%
Netapp IncNTAP	ONEO +0.41 points	0.08%	0.49%
Technipfmc PLCFTI	ONEO +0.41 points	0.02%	0.43%
QualcommQCOM	ILCV +0.41 points	0.56%	0.15%
Nextera EnergyNEE	ILCV +0.41 points	0.49%	0.08%
HumanaHUM	ONEO +0.41 points	0.08%	0.49%
Union PacificUNP	ILCV +0.40 points	0.51%	0.11%
SalesforceCRM	ILCV +0.39 points	0.52%	0.13%
DanaherDHR	ILCV +0.38 points	0.43%	0.05%
Delta Air LinesDAL	ONEO +0.38 points	0.15%	0.53%
PfizerPFE	ILCV +0.37 points	0.49%	0.12%
Illumina IncILMN	ONEO +0.36 points	0.05%	0.41%
Expeditors International of WashinEXPD	ONEO +0.36 points	0.03%	0.39%
Caterpillar IncCAT	ILCV +0.35 points	0.38%	0.03%
Incyte CorpINCY	ONEO +0.35 points	0.03%	0.38%
Centene CorpCNC	ONEO +0.34 points	0.05%	0.39%
Devon EnergyDVN	ONEO +0.34 points	0.16%	0.50%
Regeneron PharmaceuticalsREGN	ONEO +0.34 points	0.23%	0.57%
Verizon Communications IncVZ	ILCV +0.34 points	0.52%	0.18%
Edison InternationalEIX	ONEO +0.34 points	0.06%	0.40%
Synchrony FinancialSYF	ONEO +0.33 points	0.07%	0.40%
Texas InstrumentTXN	ILCV +0.33 points	0.45%	0.12%
Mckesson CorpMCK	ONEO +0.33 points	0.24%	0.57%
Accenture PLC Class AACN	ILCV +0.32 points	0.43%	0.11%
Tenet Healthcare CorpTHC	ONEO +0.31 points	0.06%	0.37%
T Rowe Price GroupTROW	ONEO +0.32 points	0.06%	0.38%
Cincinnati FinancialCINF	ONEO +0.31 points	0.04%	0.35%
Lowes Companies IncLOW	ILCV +0.30 points	0.33%	0.03%
Prologis ReitPLD	ILCV +0.31 points	0.35%	0.04%
American ExpressAXP	ILCV +0.30 points	0.35%	0.05%
Dollar General CorpDG	ONEO +0.30 points	0.08%	0.38%
PultegroupPHM	ONEO +0.29 points	0.07%	0.36%
AT&TT	ILCV +0.29 points	0.41%	0.12%
Simon Property Group Reit IncSPG	ONEO +0.28 points	0.10%	0.38%
SandiskSNDK	ILCV +0.27 points	0.29%	0.02%
Us Foods HoldingUSFD	ONEO +0.27 points	0.03%	0.30%
F5FFIV	ONEO +0.27 points	0.03%	0.30%
Cme Group Class ACME	ILCV +0.26 points	0.30%	0.04%
Ross Stores IncROST	ONEO +0.26 points	0.06%	0.32%
NucorNUE	ONEO +0.25 points	0.07%	0.32%
Booking HoldingsBKNG	ILCV +0.25 points	0.32%	0.07%
Southwest AirlinesLUV	ONEO +0.25 points	0.02%	0.27%
Dollar Tree IncDLTR	ONEO +0.25 points	0.07%	0.32%
Charles SchwabSCHW	ILCV +0.24 points	0.27%	0.03%
Automatic Data Processing IncADP	ILCV +0.24 points	0.32%	0.08%
Ulta Beauty IncULTA	ONEO +0.25 points	0.03%	0.28%
KrogerKR	ONEO +0.23 points	0.11%	0.34%
Td SynnexSNX	ONEO +0.24 points	0.03%	0.27%
Arch Capital GroupACGL	ONEO +0.23 points	0.10%	0.33%
Intercontinental Exchange IncICE	ILCV +0.23 points	0.26%	0.03%
ChubbCB	ILCV +0.22 points	0.36%	0.14%
Capital One Financial CorpCOF	ILCV +0.22 points	0.36%	0.14%
Medtronic PLCMDT	ILCV +0.22 points	0.35%	0.13%
Tyson Foods Inc Class ATSN	ONEO +0.21 points	0.05%	0.26%

All 372 ILCV holdings⁠All 931 ONEO 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 ONEO Cost

Overpaying ONEO vs ILCV

$3,306

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

ILCV 0.04%
$849
ONEO 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
ONEO 0.20%
Overpaying

Year by year

Year	ILCV	ONEO	Overpaying
10	$73	$365	$292
20	$288	$1,421	$1,133
30	$849	$4,155	$3,306

Expense ratio

0.04%ILCV, cheaper
0.20%ONEO

ILCV0.04%ONEO0.20%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

ONEO 30th cheapest of 99 funds

ILCV vs ONEO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCV 1.51%, better; ONEO 1.23%
Payout (12M): ILCV $1.65; ONEO $1.89
Last payment: ILCV $0.42; ONEO $0.49
Ex-dividend: ILCV Sep 15, 2026; ONEO Sep 21, 2026
Paid on: ILCV Sep 18, 2026; ONEO Sep 23, 2026
Frequency: ILCV Quarterly; ONEO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

ONEOQuarterly · 39 paymentsAll ONEO payments⁠

ILCV vs ONEO Risk

Fall from peak · 5 years

ILCV
ONEO

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterONEO 13.7%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterONEO 1.16
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterONEO −22.4%
Market sensitivityBeta, 5 years: ILCV 0.82ONEO 0.94; Market = 1

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