ILCV vs THLV

ILCVAiShares Morningstar Value ETF

THLVDTHOR Equal Weight Low Volatility 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.

THLV Most low-volatility funds screen individual stocks. THLV works a level up: it holds U.S. equity ETFs in equal weight and rotates them by rule, tilting toward calmer corners of the market.

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.

THLV The Fund seeks results corresponding to the THOR Equal Weight Low Volatility Index. It invests at least 80% of assets in index securities, which are U.S. equity ETFs selected through a rules-based sector rotation process.

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.

• THLV A fund of funds by design. It owns U.S. equity ETFs rather than single names, so no one company can dominate the portfolio.
• Rules all the way down: sector rotation follows THOR's own low-volatility and momentum index, not a manager's gut call.
• Purely domestic, with at least 80% of assets in the index's U.S. equity ETFs. No currency layer to untangle.
• Risk behavior is where it stands up best inside its multifactor peer group, which is the point of a low-vol mandate.

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.

• THLV Cost is the trade-off: 0.64% a year, well above what most funds in this multifactor group charge.
• Thinly traded. Spreads can run wider than at heavily traded peers, and limit orders matter more here.
• Launched in 2022 with a modest asset base, so the track record is shorter than most of its peer group's.

Full ILCV profile⁠

Full THLV profile⁠