IMCV vs QARP: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Xtrackers Russell 1000 US Quality at a Reasonable Price ETF

QARPBNYSE Arca

Overlap

17.8%by weight

Expense ratio

IMCV −0.13pt a year

IMCV0.06%QARP0.19%

Avg volume · 30D

IMCV 27.9×the volume

IMCV38.9KQARP1.4K

5Y return · a year

QARP +0.9pt

IMCV+11.0%QARP+11.9%

IMCV vs QARP Performance

Oct 29, 2021 – Oct 30, 2026

+68.3%IMCV+75.4%QARP

Expense ratio: IMCV 0.06%, better; QARP 0.19%
Fund size: IMCV $1.27B; QARP $79M
1Y total return: IMCV +27.0%, better; QARP +20.3%
Yield (12M): IMCV 1.84%, better; QARP 1.00%
Holdings: IMCV 271; QARP 415
Avg volume (30D): IMCV 38.9K sh, better; QARP 1.4K sh
NAV per share: IMCV $99.16; QARP $68.82
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, QARP, with each pillar’s weight
Pillar	IMCV	QARP
Cost30% weight	A96Higher	A71
Mission25% weight	A76Higher	B66
Risk15% weight	A77	A77
Tradability15% weight	B69Higher	F15
Holdings10% weight	B69Higher	C44
Durability5% weight	A77Higher	C43

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and QARP 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 QARP 43rd 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 42BQGROAmerican Century U.S. Quality Growth ETFScore 59
Rank 43BQARPXtrackers Russell 1000 US Quality at a Reasonable Price ETFScore 58
Rank 44BFLQMFranklin U.S. Mid Cap Multifactor Index ETFScore 57

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

QARPBXtrackers Russell 1000 US Quality at a Reasonable Price ETF

In short

IMCV No data

QARP Value funds buy cheap, quality funds buy sturdy. QARP wants both in one Russell 1000 screen: roughly 400 large caps chosen on quality and value together, single names capped at 5%, at well under the typical factor-fund price.

Stated mandate

IMCV No data

QARP The Fund uses a passive indexing approach to seek results corresponding generally to the Russell 1000 2Qual/Val 5% Capped Factor Index, which selects large-cap U.S. companies using quality and value characteristics.

Why people hold it

IMCV No data

QARP 0.19% a year against a 0.32% median for US multifactor funds. The cheap end of a category that likes to charge up for its factor math.
One screen, two jobs. Quality and value are applied together, so the cheap-for-a-reason names a pure value sleeve drags in get filtered.
A 5% cap per position across about 400 holdings keeps any single megacap from quietly becoming the fund.
Running since 2018 as a straight passive index tracker, and it sits in the upper half of its multifactor peer group.

Worth knowing

IMCV No data

QARP Thinly traded. Limit orders matter here, and spreads can run wider than at category giants like VONV or FNDX.
A small fund by category standards, which means less scale behind it than the multibillion-dollar names it competes with.
Quality and value tilts can trail a plain large-cap index for long stretches. That is the trade for not owning the market as-is.

Full IMCV profile⁠

Full QARP profile⁠

IMCV vs QARP Holdings

How IMCV and QARP differ

Overlap by weight

17.8%

Shared holdings make up 55.9% of IMCV and 18.0% of QARP.

Level by level

Holdings143 in both17.8%
Sector11 Sectors67.5%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in IMCV and QARP, widest gap first
Sector	More in IMCVMore in QARP	IMCV	QARP
Technology	QARP +18.1 points	6.5%	24.6%
Communication	QARP +9.2 points	1.1%	10.3%
Utilities	IMCV +7.9 points	9.0%	1.1%
Industrials	IMCV +6.4 points	14.2%	7.8%
Energy	IMCV +6.1 points	13.4%	7.3%
Financials	IMCV +6.0 points	18.5%	12.5%
Real Estate	IMCV +3.7 points	4.6%	0.9%
Materials	IMCV +2.4 points	5.0%	2.6%
Health Care	QARP +2.2 points	12.2%	14.4%
Consumer Discretionary	QARP +1.9 points	6.9%	8.8%
Consumer Staples	QARP +1.0 points	8.7%	9.7%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and QARP, widest gap first
Country	More in IMCVMore in QARP	IMCV	QARP
United States	QARP +1.0 points	98.7%	99.7%
Other countries (6)	IMCV +1.0 points	1.3%	0.3%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
QARP31.8%

Securities held

IMCV268
QARP414

Asset class

IMCV: Equity
QARP: Equity

Holdings

Only in IMCV125
In both143
Only in QARP271

Only in IMCV

125 securities, 44.0% of IMCV by weight

Us Bancorp1.27%
Pnc Financial Services Group1.24%
Elevance Health Inc1.20%
Slb1.09%
Moderna1.08%
Hewlett Packard Enterprise1.00%
Cheniere Energy0.93%
Kinder Morgan0.91%
Truist Financial0.82%
Sempra0.77%
Dominion Energy0.77%
Aflac0.76%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
Xcel Energy Inc0.68%
Keurig Dr Pepper Inc0.66%
Ford Motor Co0.66%
Strategy Inc Class A0.65%
Occidental Petroleum Corp0.64%
Iqvia Holdings Inc0.60%
Norfolk Southern Corp0.59%
American Electric Power Inc0.56%
American International Group0.56%
Prudential Financial Inc0.55%
Crh Public Limited PLC0.53%
Bank of New York Mellon Corp0.52%
Air Products and Chemicals0.52%
Dell Technologies Inc Class C0.48%
Realty Income Reit0.48%
Targa Resources0.48%
Ge Healthcare Technologies0.48%
M&T Bank0.44%
Csx0.43%
Huntington Bancshares Inc0.42%
Roper Technologies0.41%
Fifth Third Bancorp0.40%
Arthur J Gallagher0.38%
Sherwin Williams0.37%
Ppg Industries0.36%
Fiserv Inc0.36%
Hp Inc0.36%
State Street0.36%
Dow0.34%
Ameriprise Finance Inc0.34%
Digital Realty Trust Reit0.33%
Principal Financial Group Inc0.33%
International Flavors & Fragrances0.33%
Regions Financial0.32%
Te Connectivity PLC0.31%

Only in QARP

271 securities, 81.4% of QARP by weight

Apple Inc5.48%
Microsoft Corp4.99%
Meta Platform Inc Class A3.98%
Berkshire Hathaway Inc-CL B3.19%
Exxonmobil Hldgs Corp Npv2.83%
NVIDIA Corp2.51%
Visa Inc-Class A Shares2.30%
Wal-Mart Stores Inc2.29%
Johnson & Johnson2.26%
Amazon.com Inc1.98%
Costco Wholesale Corp1.90%
Mastercard Inc-Class A1.90%
McKesson Corp1.60%
Alphabet Class A1.51%
Procter & Gamble Co1.34%
Alphabet Class C1.24%
Chevron Corp1.23%
UnitedHealth Group Inc1.21%
Merck & Co Inc1.16%
Progressive Corp1.11%
Accenture Ltd-Cl A1.05%
Cisco Systems Inc1.02%
Applied Materials Inc1.00%
ConocoPhillips0.86%
Altria Group Inc0.85%
Lam Research Corp0.82%
Philip Morris International Inc0.79%
Verizon Communications Inc0.72%
Uber Technologies Inc0.71%
Newmont Mining Corp0.70%
TJX Companies0.69%
AT&T Inc0.67%
Adobe Systems Inc0.67%
QUALCOMM Inc0.65%
Abbott Laboratories0.65%
Booking Holdings Inc0.59%
salesforce.com Inc0.59%
GE Vernova0.55%
Netflix Inc0.51%
Lockheed Martin Corp0.46%
HCA Healthcare Inc0.46%
Micron Technology0.45%
Gilead Sciences Inc0.42%
Comcast Corp-CL A0.42%
CVS Health Corp0.40%
Anthem Inc0.39%
Arista Networks Inc0.38%
Caterpillar Inc0.37%
Bristol-Myers Squibb Co0.36%
Walt Disney Co0.34%

Weight gaps

The 100 widest of 143 Holdings in both funds.

Holding weights in IMCV and QARP, widest gap first
Holding	More in IMCVMore in QARP	IMCV	QARP
Phillips 66PSX	IMCV +1.50 points	1.54%	0.04%
Valero Energy CorpVLO	IMCV +1.50 points	1.57%	0.07%
Automatic Data Processing IncADP	IMCV +1.25 points	1.60%	0.35%
3MMMM	IMCV +1.21 points	1.23%	0.02%
Travelers CompaniesTRV	IMCV +1.01 points	1.13%	0.12%
Mondelez International Class AMDLZ	IMCV +1.00 points	1.14%	0.14%
General MotorsGM	IMCV +0.84 points	1.05%	0.21%
Target CorpTGT	IMCV +0.84 points	0.96%	0.12%
United Parcel Service Inc Class BUPS	IMCV +0.81 points	1.11%	0.30%
OneokOKE	IMCV +0.76 points	0.83%	0.07%
Marathon PetroleumMPC	IMCV +0.66 points	0.88%	0.22%
Paccar IncPCAR	IMCV +0.66 points	0.69%	0.03%
Regeneron PharmaceuticalsREGN	IMCV +0.65 points	1.25%	0.60%
Eog ResourcesEOG	IMCV +0.61 points	1.19%	0.58%
Exelon CorpEXC	IMCV +0.59 points	0.65%	0.06%
Consolidated EdisonED	IMCV +0.53 points	0.59%	0.06%
Northrop Grumman CorpNOC	IMCV +0.51 points	0.64%	0.13%
Devon EnergyDVN	IMCV +0.50 points	0.78%	0.28%
Delta Air LinesDAL	IMCV +0.47 points	0.72%	0.25%
Crown Castle IncCCI	IMCV +0.46 points	0.52%	0.06%
MarshMRSH	IMCV +0.46 points	0.82%	0.36%
SyscoSYY	IMCV +0.45 points	0.54%	0.09%
Diamondback EnergyFANG	IMCV +0.45 points	0.53%	0.08%
Workday Class AWDAY	IMCV +0.44 points	0.53%	0.09%
Nike Class BNKE	IMCV +0.44 points	0.62%	0.18%
Hartford Insurance GroupHIG	IMCV +0.44 points	0.50%	0.06%
PaychexPAYX	IMCV +0.44 points	0.49%	0.05%
KenvueKVUE	IMCV +0.44 points	0.46%	0.02%
BiogenBIIB	IMCV +0.44 points	0.51%	0.07%
Kimberly ClarkKMB	IMCV +0.43 points	0.49%	0.06%
Colgate-PalmoliveCL	IMCV +0.40 points	0.69%	0.29%
CignaCI	IMCV +0.38 points	1.04%	0.66%
Emerson ElectricEMR	IMCV +0.38 points	0.49%	0.11%
HalliburtonHAL	IMCV +0.39 points	0.42%	0.03%
Labcorp HoldingsLH	IMCV +0.36 points	0.41%	0.05%
United Airlines HoldingsUAL	IMCV +0.35 points	0.46%	0.11%
PG&E CorpPCG	IMCV +0.35 points	0.40%	0.05%
Dte EnergyDTE	IMCV +0.33 points	0.38%	0.05%
Quest Diagnostics IncDGX	IMCV +0.33 points	0.38%	0.05%
D R HortonDHI	IMCV +0.32 points	0.50%	0.18%
Firstenergy CorpFE	IMCV +0.31 points	0.35%	0.04%
PayPal HoldingsPYPL	IMCV +0.31 points	0.67%	0.36%
Eversource EnergyES	IMCV +0.31 points	0.35%	0.04%
Archer Daniels MidlandADM	IMCV +0.30 points	0.48%	0.17%
Vici Pptys IncVICI	IMCV +0.29 points	0.37%	0.08%
Entergy CorpETR	IMCV +0.29 points	0.34%	0.05%
Public Service Enterprise GroupPEG	IMCV +0.28 points	0.33%	0.05%
Arch Capital GroupACGL	IMCV +0.28 points	0.48%	0.20%
Public Storage ReitPSA	IMCV +0.28 points	0.47%	0.19%
Royalty Pharma PLC Class ARPRX	IMCV +0.28 points	0.34%	0.06%
Agilent Technologies IncA	IMCV +0.27 points	0.35%	0.08%
Illinois Tool IncITW	IMCV +0.27 points	0.52%	0.25%
EvergyEVRG	IMCV +0.25 points	0.27%	0.02%
EqtEQT	IMCV +0.24 points	0.30%	0.06%
EbayEBAY	IMCV +0.25 points	0.46%	0.21%
Wec Energy GroupWEC	IMCV +0.24 points	0.28%	0.04%
Zoom Communications Class AZM	IMCV +0.24 points	0.31%	0.07%
Fidelity National Information ServFIS	IMCV +0.23 points	0.27%	0.04%
Tenet Healthcare CorpTHC	IMCV +0.24 points	0.30%	0.06%
FortiveFTV	IMCV +0.23 points	0.27%	0.04%
Edison InternationalEIX	IMCV +0.23 points	0.30%	0.07%
KrogerKR	IMCV +0.22 points	0.52%	0.30%
Netapp IncNTAP	IMCV +0.21 points	0.34%	0.13%
Otis WorldwideOTIS	IMCV +0.21 points	0.26%	0.05%
OvintivOVV	IMCV +0.21 points	0.27%	0.06%
AmerenAEE	IMCV +0.20 points	0.24%	0.04%
Ppl CorpPPL	IMCV +0.20 points	0.23%	0.03%
Broadridge Financial Solutions IncBR	IMCV +0.19 points	0.28%	0.09%
Cognizant Technology Solutions ClaCTSH	IMCV +0.19 points	0.40%	0.21%
Sunbelt Rentals Holdings IncSUNB	IMCV +0.20 points	0.27%	0.07%
Republic Services IncRSG	IMCV +0.19 points	0.26%	0.07%
General Mills IncGIS	IMCV +0.19 points	0.25%	0.06%
Dollar General CorpDG	IMCV +0.18 points	0.40%	0.22%
Synchrony FinancialSYF	IMCV +0.17 points	0.34%	0.17%
Permian Resources Class APR	IMCV +0.17 points	0.27%	0.10%
Tyson Foods Inc Class ATSN	IMCV +0.17 points	0.22%	0.05%
Cms EnergyCMS	IMCV +0.17 points	0.19%	0.02%
First Citizens Bancshares Class AFCNCA	IMCV +0.15 points	0.17%	0.02%
CorpayCPAY	IMCV +0.15 points	0.18%	0.03%
Dollar Tree IncDLTR	IMCV +0.14 points	0.33%	0.19%
Ferguson EnterprisesFERG	IMCV +0.14 points	0.24%	0.10%
Packaging Corp of AmericaPKG	IMCV +0.14 points	0.17%	0.03%
NisourceNI	IMCV +0.13 points	0.15%	0.02%
Lennar A Class ALEN	IMCV +0.13 points	0.25%	0.12%
Charter Communications Class ACHTR	IMCV +0.13 points	0.15%	0.02%
Church and Dwight IncCHD	IMCV +0.13 points	0.17%	0.04%
United RentalsURI	IMCV +0.12 points	0.32%	0.20%
VeraltoVLTO	IMCV +0.12 points	0.15%	0.03%
Illumina IncILMN	IMCV +0.12 points	0.17%	0.05%
News Class ANWSA	IMCV +0.12 points	0.15%	0.03%
Tractor SupplyTSCO	IMCV +0.12 points	0.23%	0.11%
VylorVYLR	IMCV +0.12 points	0.29%	0.17%
PultegroupPHM	IMCV +0.11 points	0.32%	0.21%
SterisSTE	IMCV +0.12 points	0.18%	0.06%
Fox Class AFOXA	IMCV +0.12 points	0.17%	0.05%
Mettler ToledoMTD	IMCV +0.11 points	0.21%	0.10%
Darden Restaurants IncDRI	IMCV +0.11 points	0.20%	0.09%
Simon Property Group Reit IncSPG	IMCV +0.11 points	0.47%	0.36%
Alcoa CorpAA	IMCV +0.11 points	0.14%	0.03%
Dicks SportingDKS	IMCV +0.11 points	0.13%	0.02%

All 268 IMCV holdings⁠All 415 QARP 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 QARP Cost

Overpaying QARP vs IMCV

$2,682

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

IMCV 0.06%
$1,270
QARP 0.19%
$3,952

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
QARP 0.19%
Overpaying

Year by year

Year	IMCV	QARP	Overpaying
10	$110	$347	$237
20	$432	$1,351	$919
30	$1,270	$3,952	$2,682

Expense ratio

0.06%IMCV, cheaper
0.19%QARP

IMCV0.06%QARP0.19%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

QARP 26th cheapest of 99 funds

IMCV vs QARP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; QARP 1.00%
Payout (12M): IMCV $1.83; QARP $0.68
Last payment: IMCV $0.52; QARP $0.18
Ex-dividend: IMCV Sep 15, 2026; QARP Sep 18, 2026
Paid on: IMCV Sep 18, 2026; QARP Sep 25, 2026
Frequency: IMCV Quarterly; QARP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

QARPQuarterly · 34 paymentsAll QARP payments⁠

IMCV vs QARP Risk

Fall from peak · 5 years

IMCV
QARP

Risk facts

VolatilityStd dev, 3 years: IMCV 13.6%QARP 10.8%, better
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22QARP 1.43, better
Worst fallMax drawdown, 5 years: IMCV −19.9%, betterQARP −22.8%
Market sensitivityBeta, 5 years: IMCV 0.88QARP 0.80; Market = 1

Popular comparisons

IMCVAvsVONVA
iShares Morningstar Mid-Cap Value ETF · Vanguard Russell 1000 Value ETF
Expense ratio
0.06% · 0.06%
Category
QARPBvsVONVA
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF · Vanguard Russell 1000 Value ETF
Expense ratio
0.19% · 0.06%
Category
IMCVAvsILCVA
iShares Morningstar Mid-Cap Value ETF · iShares Morningstar Value ETF
Expense ratio
0.06% · 0.04%
Category
QARPBvsILCVA
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF · iShares Morningstar Value ETF
Expense ratio
0.19% · 0.04%
Category
IMCVAvsVYMA
iShares Morningstar Mid-Cap Value ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.06% · 0.04%
Category
QARPBvsVYMA
Xtrackers Russell 1000 US Quality at a Reasonable Price ETF · Vanguard High Dividend Yield ETF
Expense ratio
0.19% · 0.04%
Category