ILCV vs VALQ: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

American Century STOXX U.S. Quality Value ETF

VALQBNYSE Arca

Overlap

35.2%by weight

Expense ratio

ILCV −0.25pt a year

ILCV0.04%VALQ0.29%

Avg volume · 30D

VALQ 1.2×the volume

ILCV24.4KVALQ28.4K

5Y return · a year

ILCV +2.9pt

ILCV+12.6%VALQ+9.7%

ILCV vs VALQ Performance

Oct 29, 2021 – Oct 30, 2026

+81.1%ILCV+59.0%VALQ

Expense ratio: ILCV 0.04%, better; VALQ 0.29%
Fund size: ILCV $1.37B; VALQ $194M
1Y total return: ILCV +21.0%, better; VALQ +15.1%
Yield (12M): ILCV 1.51%; VALQ 1.66%, better
Holdings: ILCV 375; VALQ 225
Avg volume (30D): ILCV 24.4K sh; VALQ 28.4K sh, better
NAV per share: ILCV $109.27; VALQ $72.63
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, VALQ, with each pillar’s weight
Pillar	ILCV	VALQ
Cost30% weight	A99Higher	B55
Mission25% weight	A82Higher	A71
Risk15% weight	A90Higher	B68
Tradability15% weight	B64Higher	C42
Holdings10% weight	D39	B55Higher
Durability5% weight	A82Higher	D30

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and VALQ 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 VALQ 44th 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 44BQVMTInvesco S&P 500 Concentrated QVM ETFScore 57
Rank 44BVALQAmerican Century STOXX U.S. Quality Value ETFScore 57
Rank 48BCOWSAmplify Cash Flow Dividend Leaders ETFScore 56

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

VALQBAmerican Century STOXX U.S. Quality Value 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.

VALQ Cheap stocks are sometimes cheap for a reason. VALQ's index screens U.S. large and mid caps for quality and income alongside valuation, so the bargain bin gets filtered before anything gets bought. Launched 2018, 0.29% a year.

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.

VALQ The fund seeks to capture the performance of U.S. large- and mid-capitalization companies with attractive quality, valuation, and income fundamentals.

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.

VALQ A three-way test: quality, valuation and income fundamentals across U.S. large- and mid-cap companies. Not a pure cheapness sweep.americancentury.com
0.29% a year undercuts the typical U.S. multifactor fund, and the portfolio spreads across roughly 220 stocks rather than a narrow bet.
Income is written into the screen itself, not bolted on afterward, and the fund distributes quarterly.
Rules-based, not manager hunch: it follows the American Century U.S. Quality Value Index and lands in the upper half of a crowded multifactor peer group.americancentury.com

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.

VALQ Thinly traded next to the category's giants, so bid-ask spreads can run wider and larger orders can move the price.
Broad value peers like VONV and VYM charge a fraction of this fee; the extra cost is what buys the quality and income screens.
Those same filters make it behave differently from a plain value index, in either direction, over any given stretch.

Full ILCV profile⁠

Full VALQ profile⁠

ILCV vs VALQ Holdings

How ILCV and VALQ differ

Overlap by weight

35.2%

Shared holdings make up 73.8% of VALQ and 69.3% of ILCV.

Level by level

Holdings122 in both35.2%
Sector11 Sectors77.3%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in ILCV and VALQ, widest gap first
Sector	More in ILCVMore in VALQ	ILCV	VALQ
Financials	ILCV +13.4 points	17.7%	4.3%
Technology	VALQ +7.3 points	23.9%	31.2%
Industrials	VALQ +5.7 points	6.9%	12.6%
Consumer Discretionary	VALQ +4.8 points	8.6%	13.4%
Consumer Staples	VALQ +3.4 points	7.3%	10.7%
Utilities	ILCV +3.0 points	3.0%	0.0%
Energy	ILCV +2.7 points	6.6%	3.9%
Communication	ILCV +2.2 points	8.8%	6.6%
Health Care	VALQ +1.5 points	13.4%	14.9%
Real Estate	ILCV +1.5 points	1.7%	0.2%
Materials	Same weight	2.1%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and VALQ, widest gap first
Country	More in ILCVMore in VALQ	ILCV	VALQ
United States	VALQ +0.2 points	99.2%	99.4%
Switzerland	ILCV +0.2 points	0.4%	0.2%
India	VALQ +0.3 points	0.0%	0.3%
China	VALQ +0.1 points	0.1%	0.2%
Brazil	ILCV +0.1 points	0.1%	0.0%
United Kingdom	ILCV +0.1 points	0.1%	0.0%
Ireland	ILCV +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCV34.4%
VALQ23.7%

Securities held

ILCV372
VALQ224

Asset class

ILCV: Equity
VALQ: Equity

Holdings

Only in ILCV250
In both122
Only in VALQ102

Only in ILCV

250 securities, 30.5% of ILCV by weight

JPMorgan Chase & Co2.60%
Alphabet Class C1.65%
Wells Fargo0.73%
Amgen Inc0.71%
Linde PLC0.66%
Citigroup0.60%
Nextera Energy0.49%
Accenture PLC Class A0.43%
Caterpillar Inc0.38%
Chubb0.36%
Capital One Financial Corp0.36%
Medtronic PLC0.35%
Oracle0.35%
Prologis Reit0.35%
Phillips 660.31%
Southern0.30%
Cme Group Class A0.30%
Duke Energy Corp0.28%
Vertex Pharmaceuticals0.27%
Us Bancorp0.27%
Eaton PLC0.26%
Pnc Financial Services Group0.26%
3M0.26%
Intercontinental Exchange Inc0.26%
Intuit0.25%
Elevance Health Inc0.25%
Deere0.25%
American Tower Reit0.25%
Waste Management Inc0.24%
Mckesson Corp0.24%
Eog Resources0.24%
Travelers Companies0.24%
Regeneron Pharmaceuticals0.23%
Slb0.23%
Mondelez International Class A0.23%
Moderna0.22%
Hewlett Packard Enterprise0.22%
General Motors0.21%
Honeywell International Inc0.20%
Hca Healthcare0.20%
Kinder Morgan0.19%
Cheniere Energy0.19%
Boston Scientific0.18%
Truist Financial0.17%
Oneok0.17%
Marsh0.17%
Starbucks Corp0.17%
Sempra0.16%
Devon Energy0.16%
Aflac0.16%

Only in VALQ

102 securities, 26.1% of VALQ by weight

Best Buy Co Inc Common Stock USD.11.57%
Accenture PLC Class A Common Stock USD.00002251.47%
Skyworks Solutions Inc Common Stock USD.251.35%
Amdocs Ltd Common Stock GBP.00010.99%
Applied Materials Inc Common Stock USD.010.97%
Kla Corp Common Stock USD.0010.88%
Avery Dennison Corp Common Stock USD1.00.84%
Smith (A.o.) Corp Common Stock USD1.00.70%
Western Digital Corp Common Stock USD.010.53%
Cirrus Logic Inc Common Stock USD.0010.49%
Gentex Corp Common Stock USD.060.39%
Epam Systems Inc Common Stock USD.0010.38%
Gap Inc/The Common Stock USD.050.38%
Msc Industrial Direct Co A Common Stock USD.0010.38%
Adt Inc Common Stock USD.010.33%
Booz Allen Hamilton Holdings Common Stock USD.010.28%
Mohawk Industries Inc Common Stock USD.010.28%
Genpact Ltd Common Stock USD.010.27%
Macy’s Inc Common Stock USD.010.27%
Toro Co Common Stock USD1.00.27%
Masco Corp Common Stock USD1.00.27%
Stanley Black & Decker Inc Common Stock USD2.50.26%
Verisign Inc Common Stock USD.0010.26%
Linde PLC Common Stock0.25%
Docusign Inc Common Stock USD.00010.25%
Hf Sinclair Corp Common Stock0.24%
Lear Corp Common Stock USD.010.24%
H+r Block Inc Common Stock0.23%
Donaldson Co Inc Common Stock USD5.00.23%
Borgwarner Inc Common Stock USD.010.21%
Exelixis Inc Common Stock USD.0010.19%
Advanced Micro Devices Common Stock USD.010.19%
Urban Outfitters Inc Common Stock USD.00010.19%
Dillards Inc Class A Common Stock0.18%
Ryder System Inc Common Stock USD.50.18%
Lyft Inc A Common Stock USD.000010.18%
Jones Lang Lasalle Inc Common Stock USD.010.18%
Gartner Inc Common Stock USD.00050.18%
Arrow Electronics Inc Common Stock USD1.00.18%
Lkq Corp Common Stock USD.010.17%
Coca Cola Consolidated Inc Common Stock USD1.00.17%
Godaddy Inc Class A Common Stock USD.0010.17%
Everest Group Ltd Common Stock USD.010.17%
Zebra Technologies Corp Class A Common Stock USD.010.17%
Amphenol Corp Class A Common Stock USD.0010.17%
Acuity Inc Common Stock USD.010.17%
On Semiconductor Common Stock USD.010.17%
Chubb Ltd Common Stock0.17%
Carlisle Cos Inc Common Stock USD1.00.17%
New York Times Co A Common Stock USD.10.16%

Weight gaps

The 100 widest of 122 Holdings in both funds.

Holding weights in ILCV and VALQ, widest gap first
Holding	More in ILCVMore in VALQ	ILCV	VALQ
MicrosoftMSFT	ILCV +8.27 points	8.45%	0.18%
AppleAAPL	ILCV +5.36 points	7.24%	1.88%
Amazon.com IncAMZN	ILCV +2.93 points	3.08%	0.15%
Berkshire Hathaway Inc Class BBRK.B	ILCV +2.66 points	2.84%	0.18%
Lockheed MartinLMT	VALQ +2.49 points	0.36%	2.85%
Bristol Myers SquibbBMY	VALQ +2.06 points	0.36%	2.42%
Alphabet Class AGOOGL	ILCV +1.91 points	2.04%	0.13%
Texas InstrumentTXN	VALQ +1.74 points	0.45%	2.19%
Home DepotHD	VALQ +1.66 points	0.93%	2.59%
UnitedHealth GroupUNH	VALQ +1.63 points	1.05%	2.68%
Merck & Co IncMRK	VALQ +1.54 points	1.03%	2.57%
Procter & GamblePG	VALQ +1.47 points	1.06%	2.53%
Union PacificUNP	VALQ +1.33 points	0.51%	1.84%
Analog DevicesADI	VALQ +1.31 points	0.28%	1.59%
Meta Platforms Class AMETA	ILCV +1.26 points	2.50%	1.24%
Tesla IncTSLA	ILCV +1.06 points	1.24%	0.18%
Gilead SciencesGILD	VALQ +1.06 points	0.58%	1.64%
TjxTJX	VALQ +0.95 points	0.28%	1.23%
Illinois Tool IncITW	VALQ +0.95 points	0.11%	1.06%
Colgate-PalmoliveCL	VALQ +0.94 points	0.14%	1.08%
Kimberly ClarkKMB	VALQ +0.94 points	0.10%	1.04%
Cisco Systems IncCSCO	VALQ +0.93 points	1.22%	2.15%
Dell Technologies Inc Class CDELL	VALQ +0.93 points	0.11%	1.04%
Cognizant Technology Solutions ClaCTSH	VALQ +0.88 points	0.08%	0.96%
Visa Class AV	ILCV +0.83 points	1.00%	0.17%
Bank of AmericaBAC	ILCV +0.81 points	0.94%	0.13%
SalesforceCRM	VALQ +0.81 points	0.52%	1.33%
KenvueKVUE	VALQ +0.80 points	0.10%	0.90%
T Mobile Us IncTMUS	VALQ +0.79 points	0.20%	0.99%
Exxonmobil Holdings CorpXOM	ILCV +0.77 points	2.14%	1.37%
Target CorpTGT	VALQ +0.74 points	0.20%	0.94%
Adobe IncADBE	VALQ +0.72 points	0.28%	1.00%
Nike Class BNKE	VALQ +0.71 points	0.13%	0.84%
Hp IncHPQ	VALQ +0.69 points	0.08%	0.77%
PaychexPAYX	VALQ +0.68 points	0.10%	0.78%
Booking HoldingsBKNG	VALQ +0.65 points	0.32%	0.97%
Comcast Class ACMCSA	VALQ +0.64 points	0.22%	0.86%
WalmartWMT	ILCV +0.63 points	0.91%	0.28%
PepsicoPEP	VALQ +0.62 points	0.52%	1.14%
NewmontNEM	VALQ +0.61 points	0.33%	0.94%
RtxRTX	ILCV +0.60 points	0.76%	0.16%
AT&TT	VALQ +0.59 points	0.41%	1.00%
Thermo Fisher ScientificTMO	ILCV +0.56 points	0.75%	0.19%
SandiskSNDK	VALQ +0.56 points	0.29%	0.85%
QualcommQCOM	VALQ +0.55 points	0.56%	1.11%
International Business Machines CoIBM	VALQ +0.55 points	0.69%	1.24%
Costco Wholesale CorpCOST	ILCV +0.55 points	0.71%	0.16%
Verizon Communications IncVZ	VALQ +0.53 points	0.52%	1.05%
WatscoWSO	VALQ +0.51 points	0.01%	0.52%
Morgan StanleyMS	ILCV +0.50 points	0.64%	0.14%
Mastercard Class AMA	ILCV +0.46 points	0.63%	0.17%
Micron TechnologyMU	ILCV +0.37 points	1.35%	0.98%
Johnson & JohnsonJNJ	ILCV +0.38 points	1.89%	1.51%
Abbott LaboratoriesABT	ILCV +0.37 points	0.51%	0.14%
Goldman Sachs GroupGS	ILCV +0.37 points	0.77%	0.40%
PfizerPFE	ILCV +0.32 points	0.49%	0.17%
DanaherDHR	ILCV +0.26 points	0.43%	0.17%
Automatic Data Processing IncADP	VALQ +0.24 points	0.32%	0.56%
ConocophillipsCOP	ILCV +0.23 points	0.51%	0.28%
Philip Morris InternationalPM	ILCV +0.22 points	0.92%	0.70%
ProgressivePGR	ILCV +0.22 points	0.38%	0.16%
BlackRockBLK	ILCV +0.21 points	0.46%	0.25%
Otis WorldwideOTIS	VALQ +0.21 points	0.05%	0.26%
American ExpressAXP	ILCV +0.20 points	0.35%	0.15%
Coca-ColaKO	ILCV +0.19 points	1.03%	0.84%
Altria Group IncMO	ILCV +0.18 points	0.36%	0.18%
Cvs HealthCVS	ILCV +0.18 points	0.33%	0.15%
ChevronCVX	VALQ +0.17 points	1.23%	1.40%
Zoetis Inc Class AZTS	VALQ +0.17 points	0.05%	0.22%
Trimble IncTRMB	VALQ +0.16 points	0.01%	0.17%
Charles SchwabSCHW	ILCV +0.14 points	0.27%	0.13%
Textron IncTXT	VALQ +0.14 points	0.03%	0.17%
Valero Energy CorpVLO	ILCV +0.13 points	0.31%	0.18%
F5FFIV	VALQ +0.12 points	0.03%	0.15%
News Class ANWSA	VALQ +0.12 points	0.03%	0.15%
EquifaxEFX	VALQ +0.12 points	0.02%	0.14%
Centene CorpCNC	VALQ +0.11 points	0.05%	0.16%
Lululemon AthleticaLULU	VALQ +0.11 points	0.03%	0.14%
NvrNVR	VALQ +0.12 points	0.04%	0.16%
Snap On IncSNA	VALQ +0.11 points	0.03%	0.14%
Leidos HoldingsLDOS	VALQ +0.11 points	0.05%	0.16%
Incyte CorpINCY	VALQ +0.11 points	0.03%	0.14%
Te Connectivity PLCTEL	VALQ +0.11 points	0.07%	0.18%
First SolarFSLR	VALQ +0.11 points	0.02%	0.13%
Ss and C Technologies HoldingsSSNC	VALQ +0.10 points	0.05%	0.15%
Netapp IncNTAP	VALQ +0.10 points	0.08%	0.18%
AbbVieABBV	ILCV +0.11 points	1.46%	1.35%
General Dynamics CorpGD	ILCV +0.11 points	0.26%	0.15%
Uber TechnologiesUBER	ILCV +0.10 points	0.27%	0.17%
BlackstoneBX	ILCV +0.10 points	0.18%	0.08%
Lowes Companies IncLOW	ILCV +0.10 points	0.33%	0.23%
Cardinal HealthCAH	VALQ +0.10 points	0.07%	0.17%
Cf Industries Holdings IncCF	VALQ +0.10 points	0.05%	0.15%
S&P GlobalSPGI	ILCV +0.09 points	0.26%	0.17%
Global Payments IncGPN	VALQ +0.10 points	0.05%	0.15%
T Rowe Price GroupTROW	VALQ +0.09 points	0.06%	0.15%
Fidelity National Information ServFIS	VALQ +0.09 points	0.05%	0.14%
Expedia GroupEXPE	VALQ +0.09 points	0.04%	0.13%
PultegroupPHM	VALQ +0.08 points	0.07%	0.15%
Charter Communications Class ACHTR	VALQ +0.09 points	0.03%	0.12%

All 372 ILCV holdings⁠All 224 VALQ 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 VALQ Cost

Overpaying VALQ vs ILCV

$5,103

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

ILCV 0.04%
$849
VALQ 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
VALQ 0.29%
Overpaying

Year by year

Year	ILCV	VALQ	Overpaying
10	$73	$527	$454
20	$288	$2,044	$1,756
30	$849	$5,952	$5,103

Expense ratio

0.04%ILCV, cheaper
0.29%VALQ

ILCV0.04%VALQ0.29%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

VALQ 43rd cheapest of 99 funds

ILCV vs VALQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCV 1.51%; VALQ 1.66%, better
Payout (12M): ILCV $1.65; VALQ $1.21
Last payment: ILCV $0.42; VALQ $0.28
Ex-dividend: ILCV Sep 15, 2026; VALQ Sep 8, 2026
Paid on: ILCV Sep 18, 2026; VALQ Sep 10, 2026
Frequency: ILCV Quarterly; VALQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

VALQQuarterly · 35 paymentsAll VALQ payments⁠

ILCV vs VALQ Risk

Fall from peak · 5 years

ILCV
VALQ

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterVALQ 11.5%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterVALQ 1.07
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterVALQ −20.2%
Market sensitivityBeta, 5 years: ILCV 0.82VALQ 0.71; Market = 1

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