ILCV vs USMF: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

WisdomTree U.S. Multifactor Fund

USMFBCboe

Overlap

24.0%by weight

Expense ratio

ILCV −0.24pt a year

ILCV0.04%USMF0.28%

Avg volume · 30D

ILCV 1.3×the volume

ILCV25.1KUSMF20K

5Y return · a year

ILCV +7.1pt

ILCV+12.5%USMF+5.4%

ILCV vs USMF Performance

Nov 9, 2021 – Nov 9, 2026

+79.9%ILCV+30.2%USMF

Expense ratio: ILCV 0.04%, better; USMF 0.28%
Fund size: ILCV $1.37B; USMF $232M
1Y total return: ILCV +22.4%, better; USMF 0.0%
Yield (12M): ILCV 1.50%, better; USMF 1.32%
Holdings: ILCV 374; USMF 201
Avg volume (30D): ILCV 25.1K sh, better; USMF 20K sh
NAV per share: ILCV $108.28; USMF $48.69
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, USMF, with each pillar’s weight
Pillar	ILCV	USMF
Cost30% weight	A99Higher	B55
Mission25% weight	A82Higher	A81
Risk15% weight	A91Higher	D36
Tradability15% weight	B62Higher	C42
Holdings10% weight	D39	B61Higher
Durability5% weight	A82Higher	C45

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and USMF 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 USMF 47th 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 47BFYXFirst Trust Small Cap Core AlphaDEX FundScore 56
Rank 47BUSMFWisdomTree U.S. Multifactor FundScore 56
Rank 50BAUSFGlobal X Adaptive U.S. Factor ETFScore 55

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

USMFBWisdomTree U.S. Multifactor Fund

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.

USMF Most factor funds pick a lane: value, or growth, or dividends. USMF scores U.S. companies on value, quality, momentum and WisdomTree's own TAPE signal at once, then keeps only the roughly 200 that rank highest. One screen, four opinions.

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.

USMF The fund seeks to track, before fees and expenses, the price and yield performance of the WisdomTree U.S. Multifactor Index. That index generally selects 200 U.S. companies with the highest composite scores across value, quality, momentum and WisdomTree TAPE.

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.

USMF Four signals in one wrapper: value, quality, momentum and WisdomTree's TAPE score combine into a composite, and only the top-ranked names make the portfolio.
0.28% a year, below the typical fee in its factor peer group, which is unusual for a strategy running this much screening.
Roughly 200 holdings, so the screen actually shapes the portfolio instead of getting diluted across a thousand-stock benchmark. Distributions come quarterly.
Trading since 2017, so the multifactor blend has a live record across several market regimes rather than a backtest.

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.

USMF Cheap for a multifactor fund, not cheap outright: single-lane peers like VYM and IUSG charge 0.04%. The composite screen is what the extra buys.
Volume is light next to the index heavyweights in its category, so spreads can widen when markets move fast.
WisdomTree designs the index it tracks, and no peer fund follows the same benchmark, so there is no side-by-side clone to price-check against.

Full ILCV profile⁠

Full USMF profile⁠

ILCV vs USMF Holdings

How ILCV and USMF differ

Overlap by weight

24.0%

Shared holdings make up 45.9% of USMF and 30.6% of ILCV.

Level by level

Holdings71 in both24.0%
Sector11 Sectors83.4%
Countryby domicile99.3%
Asset classStocks100%

Sector

Sector weights in ILCV and USMF, widest gap first
Sector	Gap	ILCV	USMF
Technology	USMF +11.0 points	23.0%	34.0%
Financials	ILCV +9.1 points	18.2%	9.1%
Health Care	USMF +3.4 points	13.8%	17.2%
Consumer Staples	ILCV +2.6 points	7.6%	5.0%
Utilities	ILCV +2.3 points	3.1%	0.8%
Energy	ILCV +1.7 points	6.1%	4.4%
Communication	USMF +1.1 points	8.5%	9.6%
Industrials	USMF +1.0 points	6.9%	7.9%
Materials	ILCV +0.5 points	2.1%	1.6%
Consumer Discretionary	ILCV +0.2 points	8.9%	8.7%
Real Estate	USMF +0.1 points	1.7%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and USMF, widest gap first
Country	Gap	ILCV	USMF
United States	USMF +0.4 points	99.2%	99.6%
Switzerland	ILCV +0.4 points	0.4%	0.0%
United Kingdom	USMF +0.1 points	0.1%	0.2%
Mexico	USMF +0.2 points	0.0%	0.2%
Brazil	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%

Concentration

Weight in the 10 largest Holdings

ILCV34.8%
USMF21.2%

Securities held

ILCV371
USMF199

Asset class

ILCV: Stocks
USMF: Stocks

Holdings

Only in ILCV300
In both71
Only in USMF128

Only in ILCV

300 securities, 69.2% of ILCV by weight

Microsoft8.58%
Amazon.com Inc3.32%
Berkshire Hathaway Inc Class B3.04%
JPMorgan Chase & Co2.56%
Exxonmobil Holdings Corp1.97%
Alphabet Class C1.68%
Chevron1.15%
Tesla Inc1.11%
Procter & Gamble1.11%
Coca-Cola1.08%
Visa Class A1.04%
Home Depot0.99%
Walmart0.96%
Bank of America0.92%
Costco Wholesale Corp0.76%
Thermo Fisher Scientific0.74%
Rtx0.74%
Wells Fargo0.73%
Goldman Sachs Group0.73%
Linde PLC0.68%
International Business Machines Co0.67%
Mastercard Class A0.65%
Morgan Stanley0.62%
Walt Disney0.58%
Mcdonalds Corp0.56%
Pepsico0.56%
Abbott Laboratories0.55%
Nextera Energy0.52%
Salesforce0.49%
Pfizer0.48%
BlackRock0.47%
Conocophillips0.47%
Accenture PLC Class A0.46%
AT&T0.43%
Danaher0.43%
Progressive0.38%
Medtronic PLC0.38%
Chubb0.37%
Lowes Companies Inc0.36%
Capital One Financial Corp0.36%
American Express0.35%
Prologis Reit0.35%
Booking Holdings0.35%
Automatic Data Processing Inc0.35%
Lockheed Martin0.32%
Cme Group Class A0.32%
Cvs Health0.31%
Southern0.31%
Oracle0.30%
Uber Technologies0.29%

Only in USMF

128 securities, 54.0% of USMF by weight

Nvidia Corp3.53%
Eli Lilly & Co1.71%
Broadcom Inc1.36%
Murphy USA Inc1.18%
Advanced Micro Devices0.73%
Match Group Inc0.72%
Roku Inc0.71%
Coca-Cola Consolidated Inc0.67%
Halozyme Therapeutics Inc0.61%
Exelixis Inc0.61%
Sirius Xm Holdings Inc0.58%
Live Nation Inc0.58%
Globalstar Inc0.58%
Hansen Natural Corp0.57%
Applied Materials Inc0.57%
Amphenol Corp0.56%
Renaissancere Holdings Ltd0.55%
Host Hotels & Resorts Inc0.53%
DaVita Inc.0.53%
Crowdstrike Holdings Inc - A0.53%
Gaylord Entertainment Co0.52%
Arista Networks Inc0.52%
Lam Research Corp0.50%
Affiliated Managers Group Inc0.49%
Sharkninja Inc0.48%
WW Grainger Inc0.48%
Toro Co0.48%
Tg Therapeutics Inc0.47%
GE Vernova Inc0.47%
HF Sinclair Corp0.47%
KLA Corp0.46%
Everest Re Group Ltd0.46%
Quintiles IMS Holdings Inc0.46%
Charles River Laboratories Intl0.45%
Jazz Pharmaceuticals Plc0.45%
Ryder System Inc0.45%
Stanley Black & Decker Inc.0.44%
West Pharmaceutical Services Inc0.44%
Manhattan Associates Inc0.42%
Natera Inc0.42%
Columbia Banking System Inc0.42%
Best Buy Co Inc0.41%
Medpace Holdings Inc0.41%
DexCom Inc0.41%
Crown Holdings Inc0.41%
Paycom Software Inc0.41%
Neurocrine Biosciences Inc0.41%
Darling Ingredients Inc0.41%
Docusign Inc0.40%
Maplebear Inc0.40%

Weight gaps

All 71 Holdings in both funds, largest gap first.

Holding weights in ILCV and USMF, widest gap first
Holding	Gap	ILCV	USMF
AppleAAPL	ILCV +2.31 points	7.20%	4.89%
Alphabet Class AGOOGL	USMF +1.53 points	2.08%	3.61%
Meta Platforms Class AMETA	ILCV +1.31 points	2.47%	1.16%
Expedia GroupEXPE	USMF +1.24 points	0.04%	1.28%
EbayEBAY	USMF +1.15 points	0.10%	1.25%
TapestryTPR	USMF +1.03 points	0.03%	1.06%
General MotorsGM	USMF +0.97 points	0.22%	1.19%
Johnson & JohnsonJNJ	ILCV +0.78 points	1.92%	1.14%
AbbVieABBV	ILCV +0.64 points	1.48%	0.84%
United TherapeuticsUTHR	USMF +0.55 points	0.03%	0.58%
ViatrisVTRS	USMF +0.50 points	0.06%	0.56%
Target CorpTGT	USMF +0.48 points	0.21%	0.69%
Incyte CorpINCY	USMF +0.48 points	0.03%	0.51%
Illumina IncILMN	USMF +0.45 points	0.03%	0.48%
Cisco Systems IncCSCO	ILCV +0.44 points	1.07%	0.63%
Colgate-PalmoliveCL	USMF +0.42 points	0.15%	0.57%
BiogenBIIB	USMF +0.40 points	0.10%	0.49%
Us Foods HoldingUSFD	USMF +0.39 points	0.03%	0.42%
CorpayCPAY	USMF +0.39 points	0.04%	0.43%
United RentalsURI	USMF +0.37 points	0.06%	0.43%
Netapp IncNTAP	USMF +0.37 points	0.06%	0.43%
OvintivOVV	USMF +0.36 points	0.05%	0.41%
NucorNUE	USMF +0.36 points	0.06%	0.42%
Philip Morris InternationalPM	ILCV +0.36 points	0.89%	0.53%
Permian Resources Class APR	USMF +0.35 points	0.05%	0.40%
Marathon PetroleumMPC	USMF +0.35 points	0.16%	0.51%
F5FFIV	USMF +0.35 points	0.02%	0.37%
Altria Group IncMO	USMF +0.34 points	0.37%	0.71%
Allstate CorpALL	USMF +0.34 points	0.09%	0.43%
Expeditors International of WashinEXPD	USMF +0.34 points	0.03%	0.37%
Dollar Tree IncDLTR	USMF +0.32 points	0.07%	0.39%
Arch Capital GroupACGL	USMF +0.32 points	0.10%	0.42%
UnitedHealth GroupUNH	ILCV +0.32 points	1.02%	0.70%
Zoom Communications Class AZM	USMF +0.32 points	0.06%	0.38%
Bristol Myers SquibbBMY	USMF +0.32 points	0.37%	0.69%
Delta Air LinesDAL	USMF +0.32 points	0.16%	0.48%
Valero Energy CorpVLO	USMF +0.31 points	0.29%	0.60%
Td SynnexSNX	USMF +0.31 points	0.03%	0.34%
First Citizens Bancshares Class AFCNCA	USMF +0.30 points	0.04%	0.34%
Centene CorpCNC	USMF +0.30 points	0.05%	0.35%
American Electric Power IncAEP	USMF +0.31 points	0.11%	0.42%
Omnicom Group IncOMC	USMF +0.30 points	0.07%	0.37%
Technipfmc PLCFTI	USMF +0.30 points	0.02%	0.32%
Hp IncHPQ	USMF +0.29 points	0.08%	0.37%
Travelers CompaniesTRV	USMF +0.28 points	0.24%	0.52%
Analog DevicesADI	USMF +0.28 points	0.24%	0.52%
Principal Financial Group IncPFG	USMF +0.26 points	0.07%	0.33%
Vertex PharmaceuticalsVRTX	USMF +0.26 points	0.28%	0.54%
Dell Technologies Inc Class CDELL	USMF +0.26 points	0.08%	0.34%
News Class ANWSA	USMF +0.25 points	0.03%	0.28%
Steel Dynamics IncSTLD	USMF +0.25 points	0.03%	0.28%
Eog ResourcesEOG	USMF +0.26 points	0.22%	0.48%
Ameriprise Finance IncAMP	USMF +0.25 points	0.07%	0.32%
State StreetSTT	USMF +0.24 points	0.07%	0.31%
Workday Class AWDAY	USMF +0.23 points	0.11%	0.34%
NewmontNEM	USMF +0.22 points	0.37%	0.59%
MetlifeMET	USMF +0.22 points	0.15%	0.37%
Cheniere EnergyLNG	USMF +0.21 points	0.17%	0.38%
Texas InstrumentTXN	USMF +0.21 points	0.40%	0.61%
Micron TechnologyMU	ILCV +0.19 points	1.01%	0.82%
Verizon Communications IncVZ	USMF +0.16 points	0.55%	0.71%
Hewlett Packard EnterpriseHPE	USMF +0.15 points	0.17%	0.32%
Phillips 66PSX	USMF +0.12 points	0.28%	0.40%
Caterpillar IncCAT	USMF +0.09 points	0.34%	0.43%
SandiskSNDK	USMF +0.08 points	0.19%	0.27%
CitigroupC	ILCV +0.07 points	0.58%	0.51%
QualcommQCOM	ILCV +0.04 points	0.51%	0.47%
Union PacificUNP	ILCV +0.04 points	0.50%	0.46%
Gilead SciencesGILD	USMF +0.02 points	0.60%	0.62%
Merck & Co IncMRK	ILCV +0.02 points	1.04%	1.02%
Amgen IncAMGN	ILCV +0.02 points	0.72%	0.70%

All 371 ILCV holdings⁠All 201 USMF 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 USMF Cost

Overpaying USMF vs ILCV

$4,906

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

ILCV 0.04%
$849
USMF 0.28%
$5,755

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
USMF 0.28%
Overpaying

Year by year

Year	ILCV	USMF	Overpaying
10	$73	$509	$436
20	$288	$1,976	$1,688
30	$849	$5,755	$4,906

Expense ratio

0.04%ILCV, cheaper
0.28%USMF

ILCV0.04%USMF0.28%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

USMF 41st cheapest of 99 funds

ILCV vs USMF Dividends

Last 12 months to Nov 9, 2026

Yield (12M): ILCV 1.50%, better; USMF 1.32%
Payout (12M): ILCV $1.65; USMF $0.66
Last payment: ILCV $0.42; USMF $0.13
Ex-dividend: ILCV Sep 15, 2026; USMF Sep 25, 2026
Paid on: ILCV Sep 18, 2026; USMF Sep 29, 2026
Frequency: ILCV Quarterly; USMF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

USMFQuarterly · 37 paymentsAll USMF payments⁠

ILCV vs USMF Risk

Fall from peak · 5 years

ILCV
USMF

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterUSMF 11.1%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterUSMF 0.72
Worst fallMax drawdown, 5 years: ILCV −18.6%USMF −18.1%, better
Market sensitivityBeta, 5 years: ILCV 0.82USMF 0.67; Market = 1

ILCV and USMF in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026USMF

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ILCV vs USMF

In short

Stated mandate

Why people hold it

Worth knowing

How ILCV and USMF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCV

Only in USMF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart

How ILCV and USMF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCV

Only in USMF

Weight gaps