ILCV vs RECS: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

Columbia Research Enhanced Core ETF

RECSANYSE Arca

Overlap

29.6%by weight

Expense ratio

ILCV −0.11pt a year

ILCV0.04%RECS0.15%

Avg volume · 30D

RECS 18.9×the volume

ILCV24.4KRECS461K

5Y return · a year

RECS +0.3pt

ILCV+12.6%RECS+12.9%

ILCV vs RECS Performance

Oct 29, 2021 – Oct 30, 2026

+81.1%ILCV+83.1%RECS

Expense ratio: ILCV 0.04%, better; RECS 0.15%
Fund size: ILCV $1.37B; RECS $6.22B
1Y total return: ILCV +21.0%, better; RECS +10.8%
Yield (12M): ILCV 1.51%, better; RECS 1.01%
Holdings: ILCV 375; RECS 358
Avg volume (30D): ILCV 24.4K sh; RECS 461K sh, better
NAV per share: ILCV $109.27; RECS $44.92
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, RECS, with each pillar’s weight
Pillar	ILCV	RECS
Cost30% weight	A99Higher	A83
Mission25% weight	A82	A93Higher
Risk15% weight	A90Higher	B57
Tradability15% weight	B64	A92Higher
Holdings10% weight	D39Higher	D29
Durability5% weight	A82Higher	B55

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and RECS 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 RECS 12th 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 11AGSLCGoldman Sachs ActiveBeta U.S. Large Cap Equity ETFScore 77
Rank 12ARECSColumbia Research Enhanced Core ETFScore 76
Rank 12ASMLFiShares U.S. Small-Cap Equity Factor ETFScore 76

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

RECSAColumbia Research Enhanced Core 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.

RECS Columbia takes the boring core of a US stock portfolio and runs it through its own value, quality and momentum research screen. Roughly 400 names at 0.15% a year: index-fund pricing on a research-driven build.

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.

RECS The Fund seeks results corresponding to the Beta Advantage Research Enhanced U.S. Equity Index, before fees and expenses.

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.

RECS 0.15% a year for a researched screen, well under half the going rate in its multifactor cohort.
The value, quality and momentum tilt lives inside a broad book of about 400 US stocks, so it reads as a core position rather than a single-factor bet.
Sticks close to its stated Beta Advantage index, and it is a multi-billion-dollar fund with steady daily volume behind the quotes.
Running since 2019 and one of the stronger implementations in a crowded US multifactor field.

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.

RECS Plain-vanilla rivals such as VYM and IUSG charge a fraction as much. The extra basis points here buy the research screen, not broader coverage.
The screen trims rather than reinvents: the portfolio still leans on the same large US names that dominate the broad market, so the tilt shows up slowly.
Distributions come once or twice a year, not quarterly, so the cash arrives on a lumpy schedule.

Full ILCV profile⁠

Full RECS profile⁠

ILCV vs RECS Holdings

How ILCV and RECS differ

Overlap by weight

29.6%

Shared holdings make up 60.7% of RECS and 31.7% of ILCV.

Level by level

Holdings121 in both29.6%
Sector11 Sectors81.5%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in ILCV and RECS, widest gap first
Sector	More in ILCVMore in RECS	ILCV	RECS
Technology	RECS +14.8 points	23.9%	38.7%
Financials	ILCV +6.4 points	17.7%	11.3%
Health Care	ILCV +4.1 points	13.4%	9.3%
Consumer Staples	ILCV +3.1 points	7.3%	4.2%
Energy	ILCV +3.0 points	6.6%	3.6%
Communication	RECS +2.6 points	8.8%	11.4%
Utilities	ILCV +1.2 points	3.0%	1.8%
Industrials	RECS +0.9 points	6.9%	7.8%
Materials	ILCV +0.4 points	2.1%	1.7%
Consumer Discretionary	ILCV +0.3 points	8.6%	8.3%
Real Estate	RECS +0.3 points	1.7%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and RECS, widest gap first
Country	More in ILCVMore in RECS	ILCV	RECS
United States	RECS +0.5 points	99.2%	99.7%
Switzerland	ILCV +0.4 points	0.4%	0.0%
Canada	RECS +0.2 points	0.0%	0.2%
Brazil	ILCV +0.1 points	0.1%	0.0%
United Kingdom	ILCV +0.1 points	0.1%	0.0%
China	ILCV +0.1 points	0.1%	0.0%
Ireland	ILCV +0.1 points	0.1%	0.0%
India	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCV34.4%
RECS41.6%

Securities held

ILCV372
RECS356

Asset class

ILCV: Equity
RECS: Equity

Holdings

Only in ILCV251
In both121
Only in RECS235

Only in ILCV

251 securities, 68.1% of ILCV by weight

Microsoft8.45%
Amazon.com Inc3.08%
Berkshire Hathaway Inc Class B2.84%
JPMorgan Chase & Co2.60%
Exxonmobil Holdings Corp2.14%
Alphabet Class A2.04%
Johnson & Johnson1.89%
Alphabet Class C1.65%
Tesla Inc1.24%
Procter & Gamble1.06%
UnitedHealth Group1.05%
Coca-Cola1.03%
Merck & Co Inc1.03%
Visa Class A1.00%
Home Depot0.93%
Philip Morris International0.92%
Walmart0.91%
Goldman Sachs Group0.77%
Rtx0.76%
Thermo Fisher Scientific0.75%
Wells Fargo0.73%
Costco Wholesale Corp0.71%
International Business Machines Co0.69%
Linde PLC0.66%
Morgan Stanley0.64%
Qualcomm0.56%
Walt Disney0.54%
Salesforce0.52%
Pepsico0.52%
Mcdonalds Corp0.52%
Verizon Communications Inc0.52%
Abbott Laboratories0.51%
Conocophillips0.51%
Union Pacific0.51%
Pfizer0.49%
BlackRock0.46%
Texas Instrument0.45%
Danaher0.43%
Accenture PLC Class A0.43%
AT&T0.41%
Caterpillar Inc0.38%
Chubb0.36%
Capital One Financial Corp0.36%
Lockheed Martin0.36%
Medtronic PLC0.35%
American Express0.35%
Oracle0.35%
Prologis Reit0.35%
Lowes Companies Inc0.33%
Booking Holdings0.32%

Only in RECS

235 securities, 38.6% of RECS by weight

NVIDIA Corp11.63%
State Street Communication Services Select Sector Spdr Etf2.61%
Vanguard Communication Services Etf1.28%
Palantir Technologies Inc1.08%
Elevance Health Inc0.78%
Conocophillips0.73%
Hilton Worldwide Holdings Inc0.72%
Fidelity Msci Communication Services Index Etf0.71%
Palo Alto Networks Inc0.70%
Applied Materials Inc0.62%
Lam Research Corp0.61%
Crowdstrike Holdings Inc0.60%
Cummins Inc0.51%
Becton Dickinson & Co0.47%
Arista Networks Inc0.42%
Amphenol Corp0.42%
Kla Corp0.39%
Accenture PLC0.37%
Rockwell Automation Inc0.35%
Allstate Corp/The0.33%
Crh PLC0.31%
Servicenow Inc0.29%
Snowflake Inc0.26%
Dexcom Inc0.24%
Msci Inc0.23%
Restaurant Brands International Inc0.22%
Anglogold Ashanti PLC0.22%
Datadog Inc0.21%
Fortinet Inc0.19%
Motorola Solutions Inc0.19%
Best Buy Co Inc0.17%
Applovin Corp0.16%
Cboe Global Markets Inc0.16%
Revvity Inc0.15%
Charles River Laboratories International Inc0.14%
Autodesk Inc0.14%
Aramark0.13%
Ciena Corp0.13%
Keysight Technologies Inc0.12%
Medpace Holdings Inc0.12%
Nordson Corp0.12%
Ralph Lauren Corp0.12%
Coca-Cola Consolidated Inc0.12%
Five Below Inc0.12%
Jb Hunt Transport Services Inc0.12%
Toll Brothers Inc0.12%
Reddit Inc0.11%
Jazz Pharmaceuticals PLC0.11%
Masco Corp0.11%
Carlisle Cos Inc0.11%

Weight gaps

The 100 widest of 121 Holdings in both funds.

Holding weights in ILCV and RECS, widest gap first
Holding	More in ILCVMore in RECS	ILCV	RECS
AppleAAPL	RECS +5.19 points	7.24%	12.43%
Mastercard Class AMA	RECS +1.98 points	0.63%	2.61%
Meta Platforms Class AMETA	RECS +1.62 points	2.50%	4.12%
TjxTJX	RECS +1.10 points	0.28%	1.38%
Altria Group IncMO	RECS +0.99 points	0.36%	1.35%
Starbucks CorpSBUX	RECS +0.86 points	0.17%	1.03%
Micron TechnologyMU	RECS +0.81 points	1.35%	2.16%
AbbVieABBV	ILCV +0.75 points	1.46%	0.71%
Bristol Myers SquibbBMY	RECS +0.68 points	0.36%	1.04%
Bank of AmericaBAC	RECS +0.68 points	0.94%	1.62%
Colgate-PalmoliveCL	RECS +0.63 points	0.14%	0.77%
Parker-HannifinPH	RECS +0.63 points	0.19%	0.82%
Ross Stores IncROST	RECS +0.59 points	0.06%	0.65%
Cvs HealthCVS	RECS +0.57 points	0.33%	0.90%
Automatic Data Processing IncADP	RECS +0.52 points	0.32%	0.84%
General MotorsGM	RECS +0.49 points	0.21%	0.70%
ChevronCVX	RECS +0.48 points	1.23%	1.71%
Illinois Tool IncITW	RECS +0.46 points	0.11%	0.57%
Target CorpTGT	RECS +0.45 points	0.20%	0.65%
Charles SchwabSCHW	RECS +0.45 points	0.27%	0.72%
CitigroupC	RECS +0.41 points	0.60%	1.01%
CignaCI	RECS +0.41 points	0.22%	0.63%
General Dynamics CorpGD	RECS +0.39 points	0.26%	0.65%
Bank of New York Mellon CorpBNY	RECS +0.40 points	0.11%	0.51%
Equinix ReitEQIX	RECS +0.39 points	0.12%	0.51%
Cardinal HealthCAH	RECS +0.38 points	0.07%	0.45%
Amgen IncAMGN	ILCV +0.37 points	0.71%	0.34%
Illumina IncILMN	RECS +0.32 points	0.05%	0.37%
Ford Motor CoF	RECS +0.31 points	0.14%	0.45%
MarshMRSH	RECS +0.30 points	0.17%	0.47%
ProgressivePGR	RECS +0.31 points	0.38%	0.69%
Gilead SciencesGILD	ILCV +0.29 points	0.58%	0.29%
Ferguson EnterprisesFERG	RECS +0.28 points	0.05%	0.33%
NewmontNEM	RECS +0.28 points	0.33%	0.61%
Fedex CorpFDX	RECS +0.28 points	0.19%	0.47%
KrogerKR	RECS +0.27 points	0.11%	0.38%
Expedia GroupEXPE	RECS +0.26 points	0.04%	0.30%
Iqvia Holdings IncIQV	RECS +0.25 points	0.13%	0.38%
Comcast Class ACMCSA	RECS +0.24 points	0.22%	0.46%
Paccar IncPCAR	RECS +0.23 points	0.14%	0.37%
Centene CorpCNC	RECS +0.22 points	0.05%	0.27%
Zoetis Inc Class AZTS	RECS +0.22 points	0.05%	0.27%
D R HortonDHI	RECS +0.22 points	0.10%	0.32%
Cisco Systems IncCSCO	ILCV +0.21 points	1.22%	1.01%
Delta Air LinesDAL	RECS +0.19 points	0.15%	0.34%
American Tower ReitAMT	RECS +0.19 points	0.25%	0.44%
Dollar General CorpDG	RECS +0.19 points	0.08%	0.27%
TapestryTPR	RECS +0.19 points	0.02%	0.21%
Us BancorpUSB	RECS +0.18 points	0.27%	0.45%
VeraltoVLTO	RECS +0.16 points	0.03%	0.19%
State StreetSTT	RECS +0.15 points	0.08%	0.23%
Otis WorldwideOTIS	RECS +0.15 points	0.05%	0.20%
Expeditors International of WashinEXPD	RECS +0.15 points	0.03%	0.18%
Kraft HeinzKHC	RECS +0.14 points	0.06%	0.20%
PultegroupPHM	RECS +0.14 points	0.07%	0.21%
Phillips 66PSX	RECS +0.14 points	0.31%	0.45%
General Mills IncGIS	RECS +0.13 points	0.05%	0.18%
Valero Energy CorpVLO	RECS +0.13 points	0.31%	0.44%
Truist FinancialTFC	RECS +0.12 points	0.17%	0.29%
Tyson Foods Inc Class ATSN	RECS +0.12 points	0.05%	0.17%
Nextera EnergyNEE	RECS +0.12 points	0.49%	0.61%
ModernaMRNA	ILCV +0.11 points	0.22%	0.11%
ViatrisVTRS	RECS +0.12 points	0.06%	0.18%
Regeneron PharmaceuticalsREGN	ILCV +0.11 points	0.23%	0.12%
Entergy CorpETR	RECS +0.11 points	0.07%	0.18%
Northern TrustNTRS	RECS +0.12 points	0.04%	0.16%
MetlifeMET	RECS +0.11 points	0.15%	0.26%
Southwest AirlinesLUV	RECS +0.11 points	0.02%	0.13%
Tenet Healthcare CorpTHC	RECS +0.11 points	0.06%	0.17%
Zimmer Biomet HoldingsZBH	RECS +0.10 points	0.05%	0.15%
Raymond JamesRJF	RECS +0.10 points	0.04%	0.14%
Snap On IncSNA	RECS +0.10 points	0.03%	0.13%
Broadridge Financial Solutions IncBR	RECS +0.09 points	0.06%	0.15%
NvrNVR	RECS +0.09 points	0.04%	0.13%
FortiveFTV	RECS +0.09 points	0.06%	0.15%
Prudential Financial IncPRU	RECS +0.09 points	0.11%	0.20%
Vertex PharmaceuticalsVRTX	ILCV +0.08 points	0.27%	0.19%
Reliance Steel & AluminumRS	RECS +0.08 points	0.03%	0.11%
Packaging Corp of AmericaPKG	RECS +0.08 points	0.03%	0.11%
Las Vegas SandsLVS	RECS +0.08 points	0.01%	0.09%
Leidos HoldingsLDOS	RECS +0.08 points	0.05%	0.13%
Technipfmc PLCFTI	RECS +0.08 points	0.02%	0.10%
Omnicom Group IncOMC	RECS +0.07 points	0.06%	0.13%
Sba Communications Reit Corp ClassSBAC	RECS +0.07 points	0.03%	0.10%
SandiskSNDK	RECS +0.07 points	0.29%	0.36%
WatscoWSO	RECS +0.06 points	0.01%	0.07%
Ppg IndustriesPPG	RECS +0.05 points	0.08%	0.13%
AmerenAEE	RECS +0.06 points	0.05%	0.11%
Atmos EnergyATO	RECS +0.06 points	0.04%	0.10%
Regions FinancialRF	RECS +0.05 points	0.07%	0.12%
Invitation HomesINVH	RECS +0.06 points	0.02%	0.08%
BiogenBIIB	ILCV +0.05 points	0.10%	0.05%
Occidental Petroleum CorpOXY	RECS +0.05 points	0.13%	0.18%
Synchrony FinancialSYF	RECS +0.05 points	0.07%	0.12%
Vici Pptys IncVICI	RECS +0.05 points	0.08%	0.13%
Sun Communities Reit IncSUI	RECS +0.04 points	0.02%	0.06%
Ppl CorpPPL	RECS +0.04 points	0.05%	0.09%
Cf Industries Holdings IncCF	RECS +0.05 points	0.05%	0.10%
T Rowe Price GroupTROW	RECS +0.05 points	0.06%	0.11%
Fox Class AFOXA	RECS +0.04 points	0.04%	0.08%

All 372 ILCV holdings⁠All 376 RECS 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 RECS Cost

Overpaying RECS vs ILCV

$2,288

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

ILCV 0.04%
$849
RECS 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
RECS 0.15%
Overpaying

Year by year

Year	ILCV	RECS	Overpaying
10	$73	$274	$201
20	$288	$1,071	$783
30	$849	$3,137	$2,288

Expense ratio

0.04%ILCV, cheaper
0.15%RECS

ILCV0.04%RECS0.15%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

RECS 13th cheapest of 99 funds

ILCV vs RECS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCV 1.51%, better; RECS 1.01%
Payout (12M): ILCV $1.65; RECS $0.45
Last payment: ILCV $0.42; RECS $0.45
Ex-dividend: ILCV Sep 15, 2026; RECS Dec 18, 2025
Paid on: ILCV Sep 18, 2026; RECS Dec 26, 2025
Frequency: ILCV Quarterly; RECS Annual

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

RECSAnnual · 7 paymentsAll RECS payments⁠

ILCV vs RECS Risk

Fall from peak · 5 years

ILCV
RECS

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterRECS 11.5%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterRECS 1.53
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterRECS −22.1%
Market sensitivityBeta, 5 years: ILCV 0.82RECS 0.88; Market = 1

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