IMCV vs OPTZ: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Optimize Strategy Index ETF

OPTZCNasdaq

Overlap

13.7%by weight

Expense ratio

IMCV −0.19pt a year

IMCV0.06%OPTZ0.25%

Avg volume · 30D

IMCV 5.9×the volume

IMCV38.9KOPTZ6.58K

IMCV vs OPTZ Performance

Oct 31, 2025 – Oct 30, 2026

+27.0%IMCV+25.4%OPTZ

Expense ratio: IMCV 0.06%, better; OPTZ 0.25%
Fund size: IMCV $1.27B; OPTZ $258M
1Y total return: IMCV +27.0%, better; OPTZ +25.4%
Yield (12M): IMCV 1.84%, better; OPTZ 0.48%
Holdings: IMCV 271; OPTZ 396
Avg volume (30D): IMCV 38.9K sh, better; OPTZ 6.58K sh
NAV per share: IMCV $99.16; OPTZ $43.86
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, OPTZ, with each pillar’s weight
Pillar	IMCV	OPTZ
Cost30% weight	A96Higher	B63
Mission25% weight	A76Higher	D26
Risk15% weight	A77Higher	D25
Tradability15% weight	B69Higher	C50
Holdings10% weight	B69	A72Higher
Durability5% weight	A77Higher	D34

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and OPTZ 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 ›

IMCV ranks 4th and OPTZ 73rd 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 4AIMCViShares Morningstar Mid-Cap Value ETFScore 80
Rank 5ADCORU.S. Core Equity 1 Portfolio ETF Class SharesScore 79
Rank 73CCAFGPacer US Small Cap Cash Cows Growth Leaders ETFScore 45
Rank 73COPTZOptimize Strategy Index ETFScore 45
Rank 77CFTCFirst Trust Large Cap Growth AlphaDEX FundScore 44

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

OPTZCOptimize Strategy Index ETF

In short

IMCV No data

OPTZ A 2024 newcomer built on one idea: screen US-listed stocks for quality and momentum, track the index, charge 0.25%. Priced under the typical multifactor peer, but still a small and lightly traded fund.

Stated mandate

IMCV No data

OPTZ The Fund seeks to track, before fees and expenses, the total return of the Optimize Strategy Index. The Index selects U.S.-listed equities from a broad market universe and evaluates them using quality and momentum criteria.

Why people hold it

IMCV No data

OPTZ At 0.25%, it undercuts the median expense ratio in its multifactor peer group and matches Schwab's FNDX, though broad index giants like IUSG and VYM sit well below that.
No manager hunches. The Optimize Strategy Index ranks a broad US equity universe on quality and momentum, and the fund's job is simply to track it.
Conventional plumbing: a 1940 Act ETF holding US-listed stocks, with the factor tilt advertised up front rather than buried in a strategy footnote.

Worth knowing

IMCV No data

OPTZ Thinly traded, so bid-ask spreads can run wider than in the household-name factor funds. Order size and timing matter more here.
It launched in April 2024, so there is no record yet across a full market cycle to judge how the quality-momentum screen holds up.
A small fund next to the Vanguard and iShares factor lineups, and payouts come annually or semiannually rather than quarterly.

Full IMCV profile⁠

Full OPTZ profile⁠

IMCV vs OPTZ Holdings

How IMCV and OPTZ differ

Overlap by weight

13.7%

Shared holdings make up 29.7% of IMCV and 19.0% of OPTZ.

Level by level

Holdings77 in both13.7%
Sector11 Sectors61.8%
Countryby domicile98.8%
Asset classEquity100%

Sector

Sector weights in IMCV and OPTZ, widest gap first
Sector	More in IMCVMore in OPTZ	IMCV	OPTZ
Technology	OPTZ +35.0 points	6.5%	41.5%
Utilities	IMCV +7.5 points	9.0%	1.5%
Industrials	IMCV +6.8 points	14.2%	7.4%
Energy	IMCV +6.4 points	13.4%	7.0%
Financials	IMCV +5.6 points	18.5%	12.9%
Consumer Staples	IMCV +5.4 points	8.7%	3.3%
Materials	IMCV +3.3 points	5.0%	1.7%
Consumer Discretionary	OPTZ +3.3 points	6.9%	10.2%
Real Estate	IMCV +2.2 points	4.6%	2.4%
Health Care	IMCV +0.8 points	12.2%	11.4%
Communication	IMCV +0.2 points	1.1%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and OPTZ, widest gap first
Country	More in IMCVMore in OPTZ	IMCV	OPTZ
Brazil	OPTZ +0.5 points	0.0%	0.5%
Other countries (7)	IMCV +0.5 points	100.0%	99.5%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
OPTZ13.2%

Securities held

IMCV268
OPTZ395

Asset class

IMCV: Equity
OPTZ: Equity

Holdings

Only in IMCV191
In both77
Only in OPTZ318

Only in IMCV

191 securities, 70.2% of IMCV by weight

Automatic Data Processing Inc1.60%
Us Bancorp1.27%
Regeneron Pharmaceuticals1.25%
3M1.23%
Elevance Health Inc1.20%
Mondelez International Class A1.14%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
General Motors1.05%
Hewlett Packard Enterprise1.00%
Kinder Morgan0.91%
Marathon Petroleum0.88%
Oneok0.83%
Truist Financial0.82%
Marsh0.82%
Devon Energy0.78%
Dominion Energy0.77%
Aflac0.76%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
Delta Air Lines0.72%
Paccar Inc0.69%
Colgate-Palmolive0.69%
Xcel Energy Inc0.68%
PayPal Holdings0.67%
Keurig Dr Pepper Inc0.66%
Ford Motor Co0.66%
Strategy Inc Class A0.65%
Exelon Corp0.65%
Northrop Grumman Corp0.64%
Occidental Petroleum Corp0.64%
Nike Class B0.62%
Iqvia Holdings Inc0.60%
Consolidated Edison0.59%
Norfolk Southern Corp0.59%
American Electric Power Inc0.56%
American International Group0.56%
Sysco0.54%
Crh Public Limited PLC0.53%
Air Products and Chemicals0.52%
Kroger0.52%
Crown Castle Inc0.52%
Illinois Tool Inc0.52%
Biogen0.51%
D R Horton0.50%
Emerson Electric0.49%
Kimberly Clark0.49%
Paychex0.49%

Only in OPTZ

318 securities, 81.0% of OPTZ by weight

DXC Technology Co1.49%
Synopsys Inc1.37%
Texas Instruments Inc1.35%
Analog Devices Inc1.33%
Cadence Design Systems Inc1.30%
Advanced Micro Devices Inc1.23%
Microsoft Corp1.21%
Ciena Corp1.16%
Zebra Technologies Corp1.15%
Monolithic Power Systems Inc1.14%
Arrow Electronics Inc1.12%
Keysight Technologies Inc1.09%
NCR Voyix Corp1.08%
Kulicke & Soffa Industries Inc1.05%
NVIDIA Corp1.03%
Salesforce Inc1.02%
MACOM Technology Solutions Holdings Inc1.01%
Micron Technology Inc1.01%
Semtech Corp1.00%
Applied Materials Inc0.99%
Sanmina Corp0.96%
Astera Labs Inc0.96%
Rackspace Technology Inc0.95%
Fabrinet0.93%
Western Digital Corp0.91%
Lam Research Corp0.90%
MKS Inc0.90%
Teradyne Inc0.89%
Seagate Technology Holdings PLC0.88%
Coherent Corp0.86%
Canadian Solar Inc0.81%
Sandisk Corp0.77%
ExxonMobil Holdings Corp0.34%
Hasbro Inc0.34%
ConocoPhillips0.34%
Crocs Inc0.33%
Chevron Corp0.33%
CareDx Inc0.32%
HF Sinclair Corp0.32%
PVH Corp0.32%
Teekay Tankers Ltd0.32%
Chord Energy Corp0.31%
Seadrill Ltd0.31%
World Kinect Corp0.31%
PBF Energy Inc0.31%
Hilton Worldwide Holdings Inc0.30%
NextDecade Corp0.30%
Nabors Industries Ltd0.29%
Ralph Lauren Corp0.29%
Howard Hughes Holdings Inc0.29%

Weight gaps

All 77 Holdings in both funds, largest gap first.

Holding weights in IMCV and OPTZ, widest gap first
Holding	More in IMCVMore in OPTZ	IMCV	OPTZ
Valero Energy CorpVLO	IMCV +1.25 points	1.57%	0.32%
Phillips 66PSX	IMCV +1.21 points	1.54%	0.33%
Teledyne TechnologiesTDY	OPTZ +1.09 points	0.16%	1.25%
Nxp Semiconductors NVNXPI	OPTZ +1.05 points	0.27%	1.32%
Pnc Financial Services GroupPNC	IMCV +1.01 points	1.24%	0.23%
Roper TechnologiesROP	OPTZ +0.92 points	0.41%	1.33%
First SolarFSLR	OPTZ +0.88 points	0.11%	0.99%
Travelers CompaniesTRV	IMCV +0.87 points	1.13%	0.26%
Eog ResourcesEOG	IMCV +0.86 points	1.19%	0.33%
CignaCI	IMCV +0.84 points	1.04%	0.20%
Target CorpTGT	IMCV +0.79 points	0.96%	0.17%
Cheniere EnergyLNG	IMCV +0.78 points	0.93%	0.15%
SempraSRE	IMCV +0.64 points	0.77%	0.13%
Dell Technologies Inc Class CDELL	OPTZ +0.46 points	0.48%	0.94%
Workday Class AWDAY	IMCV +0.41 points	0.53%	0.12%
Realty Income ReitO	IMCV +0.40 points	0.48%	0.08%
Public Storage ReitPSA	IMCV +0.38 points	0.47%	0.09%
Archer Daniels MidlandADM	IMCV +0.32 points	0.48%	0.16%
Prudential Financial IncPRU	IMCV +0.32 points	0.55%	0.23%
Bank of New York Mellon CorpBNY	IMCV +0.30 points	0.52%	0.22%
Sherwin WilliamsSHW	IMCV +0.28 points	0.37%	0.09%
Hartford Insurance GroupHIG	IMCV +0.26 points	0.50%	0.24%
Zoom Communications Class AZM	IMCV +0.24 points	0.31%	0.07%
Cbre Group Class ACBRE	IMCV +0.24 points	0.31%	0.07%
Omnicom Group IncOMC	IMCV +0.24 points	0.31%	0.07%
NucorNUE	IMCV +0.23 points	0.32%	0.09%
Dollar General CorpDG	IMCV +0.22 points	0.40%	0.18%
M&T BankMTB	IMCV +0.21 points	0.44%	0.23%
Diamondback EnergyFANG	IMCV +0.22 points	0.53%	0.31%
HumanaHUM	IMCV +0.22 points	0.41%	0.19%
Allstate CorpALL	IMCV +0.20 points	0.45%	0.25%
Labcorp HoldingsLH	IMCV +0.20 points	0.41%	0.21%
Quest Diagnostics IncDGX	IMCV +0.18 points	0.38%	0.20%
United RentalsURI	IMCV +0.18 points	0.32%	0.14%
Cardinal HealthCAH	IMCV +0.17 points	0.36%	0.19%
Dupont De NemoursDD	IMCV +0.17 points	0.26%	0.09%
Targa ResourcesTRGP	IMCV +0.16 points	0.48%	0.32%
Dollar Tree IncDLTR	IMCV +0.15 points	0.33%	0.18%
EbayEBAY	IMCV +0.15 points	0.46%	0.31%
State StreetSTT	IMCV +0.15 points	0.36%	0.21%
Wec Energy GroupWEC	IMCV +0.14 points	0.28%	0.14%
TapestryTPR	OPTZ +0.14 points	0.11%	0.25%
Ulta Beauty IncULTA	OPTZ +0.14 points	0.16%	0.30%
L3HARRIS TechnologiesLHX	IMCV +0.13 points	0.26%	0.13%
Agilent Technologies IncA	IMCV +0.13 points	0.35%	0.22%
Ameriprise Finance IncAMP	IMCV +0.12 points	0.34%	0.22%
W. P. Carey ReitWPC	IMCV +0.11 points	0.19%	0.08%
Ferguson EnterprisesFERG	IMCV +0.11 points	0.24%	0.13%
Tenet Healthcare CorpTHC	IMCV +0.11 points	0.30%	0.19%
United TherapeuticsUTHR	OPTZ +0.10 points	0.13%	0.23%
Charter Communications Class ACHTR	IMCV +0.10 points	0.15%	0.05%
Constellation Brands Class ASTZ	IMCV +0.08 points	0.27%	0.19%
Yum BrandsYUM	OPTZ +0.07 points	0.20%	0.27%
Atmos EnergyATO	IMCV +0.08 points	0.21%	0.13%
Darden Restaurants IncDRI	OPTZ +0.07 points	0.20%	0.27%
Hershey FoodsHSY	OPTZ +0.07 points	0.10%	0.17%
Williams Sonoma IncWSM	OPTZ +0.06 points	0.23%	0.29%
GarminGRMN	OPTZ +0.06 points	0.20%	0.26%
Cincinnati FinancialCINF	OPTZ +0.06 points	0.20%	0.26%
Iron Mountain IncIRM	IMCV +0.06 points	0.14%	0.08%
Reliance Steel & AluminumRS	IMCV +0.04 points	0.14%	0.10%
Steel Dynamics IncSTLD	IMCV +0.05 points	0.14%	0.09%
Expedia GroupEXPE	OPTZ +0.05 points	0.20%	0.25%
Td SynnexSNX	IMCV +0.04 points	0.15%	0.11%
Nrg Energy IncNRG	IMCV +0.04 points	0.14%	0.10%
Centene CorpCNC	IMCV +0.03 points	0.22%	0.19%
Bunge Global SABG	IMCV +0.03 points	0.18%	0.15%
Performance Food GroupPFGC	IMCV +0.03 points	0.21%	0.18%
Raymond JamesRJF	OPTZ +0.03 points	0.19%	0.22%
Tko Group Holdings Inc Class ATKO	OPTZ +0.02 points	0.05%	0.07%
Wesco InternationalWCC	IMCV +0.02 points	0.14%	0.12%
Apollo Global ManagementAPO	IMCV +0.02 points	0.23%	0.21%
Northern TrustNTRS	OPTZ +0.01 points	0.21%	0.22%
Incyte CorpINCY	OPTZ +0.02 points	0.16%	0.18%
SterisSTE	OPTZ +0.01 points	0.18%	0.19%
Ross Stores IncROST	IMCV +0.01 points	0.27%	0.26%
Albemarle CorpALB	IMCV +0.01 points	0.07%	0.06%

All 268 IMCV holdings⁠All OPTZ 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.

IMCV vs OPTZ Cost

Overpaying OPTZ vs IMCV

$3,889

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

IMCV 0.06%
$1,270
OPTZ 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
OPTZ 0.25%
Overpaying

Year by year

Year	IMCV	OPTZ	Overpaying
10	$110	$455	$345
20	$432	$1,769	$1,337
30	$1,270	$5,159	$3,889

Expense ratio

0.06%IMCV, cheaper
0.25%OPTZ

IMCV0.06%OPTZ0.25%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

OPTZ 36th cheapest of 99 funds

IMCV vs OPTZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; OPTZ 0.48%
Payout (12M): IMCV $1.83; OPTZ $0.21
Last payment: IMCV $0.52; OPTZ $0.21
Ex-dividend: IMCV Sep 15, 2026; OPTZ Dec 23, 2025
Paid on: IMCV Sep 18, 2026; OPTZ Dec 24, 2025
Frequency: IMCV Quarterly; OPTZ Annual

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

OPTZAnnual · 2 paymentsAll OPTZ payments⁠

IMCV vs OPTZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IMCV 13.6%OPTZ 19.1%since May 2024
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22OPTZ 1.06since May 2024
Worst fallMax drawdown, 5 years: IMCV −19.9%OPTZ −25.7%since Apr 2024
Market sensitivityBeta, 5 years: IMCV 0.88OPTZ 1.32; Market = 1

IMCV and OPTZ in the news

All news⁠

ETF Filings
Advisor Managed Portfolios files Firehouse, Sound Capital's proposed sixth fund
Oct 2, 2026OPTZ
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026OPTZ

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IMCV vs OPTZ

In short

Stated mandate

Why people hold it

Worth knowing

How IMCV and OPTZ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IMCV

Only in OPTZ

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Advisor Managed Portfolios files Firehouse, Sound Capital's proposed sixth fund

US multifactor funds ran 30 points apart

How IMCV and OPTZ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IMCV

Only in OPTZ

Weight gaps