IMCV vs QSML: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

WisdomTree U.S. SmallCap Quality Growth Fund

QSMLCNasdaq

Overlap

0.0%by weight

Expense ratio

IMCV −0.32pt a year

IMCV0.06%QSML0.38%

Avg volume · 30D

IMCV 6.9×the volume

IMCV38.9KQSML5.63K

IMCV vs QSML Performance

Oct 31, 2025 – Oct 30, 2026

+27.0%IMCV+22.7%QSML

Expense ratio: IMCV 0.06%, better; QSML 0.38%
Fund size: IMCV $1.27B; QSML $13M
1Y total return: IMCV +27.0%, better; QSML +22.7%
Yield (12M): IMCV 1.84%, better; QSML 0.52%
Holdings: IMCV 271; QSML 377
Avg volume (30D): IMCV 38.9K sh, better; QSML 5.63K sh
NAV per share: IMCV $99.16; QSML $34.39
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, QSML, with each pillar’s weight
Pillar	IMCV	QSML
Cost30% weight	A96Higher	D38
Mission25% weight	A76	A90Higher
Risk15% weight	A77Higher	F23
Tradability15% weight	B69Higher	F21
Holdings10% weight	B69	A80Higher
Durability5% weight	A77Higher	D30

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and QSML 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 QSML 66th 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 66COMFSInvesco Russell 2000 Dynamic Multifactor ETFScore 49
Rank 66CQSMLWisdomTree U.S. SmallCap Quality Growth FundScore 49
Rank 66CROSCHartford Multifactor Small Cap ETFScore 49

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

QSMLCWisdomTree U.S. SmallCap Quality Growth Fund

In short

IMCV No data

QSML Small-cap indexes are stuffed with companies that don't earn money. QSML screens the US small-cap field on growth and profitability, keeps the top 30% of scorers, and leaves out banks, utilities and real estate by rule. Roughly 400 names, market-cap weighted.

Stated mandate

IMCV No data

QSML The Fund uses passive indexing and representative sampling to track, before fees and expenses, the price and yield performance of the WisdomTree U.S. SmallCap Quality Growth Index. It normally invests at least 80% of net assets in index constituents issued by small-cap U.S. companies.

Why people hold it

IMCV No data

QSML Ranks the small-cap universe on equally weighted growth and quality scores and keeps only the top 30%, leaving out the unprofitable story stocks that fill broad small-cap indexes.wisdomtree.com sec.gov
Real estate, utilities and banks are excluded by rule, tilting the portfolio toward operating businesses instead of rate-sensitive balance sheets.wisdomtree.com
Roughly 400 holdings, market-cap weighted, with at least 80% of assets in index constituents and rules published in advance. No manager hunches.

Worth knowing

IMCV No data

QSML The 0.38% fee runs above the median for US multifactor ETFs, and large-cap factor staples like ILCV (0.04%) and VONV (0.06%) charge a fraction of it.
Launched in 2024, still small and thinly traded: spreads can be wider than in the giant small-cap funds, and small young funds sometimes close.
Skipping banks, utilities and real estate, plus the growth tilt, means the sector mix can sit far from broad small-cap benchmarks in either direction.wisdomtree.com

Full IMCV profile⁠

Full QSML profile⁠

IMCV vs QSML Holdings

How IMCV and QSML differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of IMCV and 0.0% of QSML.

Level by level

Holdings0 in both0.0%
Sector11 Sectors68.0%
Countryby domicile98.7%
Asset classEquity100%

Sector

Sector weights in IMCV and QSML, widest gap first
Sector	More in IMCVMore in QSML	IMCV	QSML
Technology	QSML +19.0 points	6.5%	25.5%
Consumer Discretionary	QSML +9.7 points	6.9%	16.6%
Energy	IMCV +9.0 points	13.4%	4.4%
Utilities	IMCV +8.9 points	9.0%	0.1%
Real Estate	IMCV +4.5 points	4.6%	0.1%
Financials	IMCV +3.7 points	18.5%	14.8%
Materials	IMCV +2.9 points	5.0%	2.1%
Health Care	QSML +1.6 points	12.2%	13.8%
Communication	QSML +1.6 points	1.1%	2.7%
Industrials	IMCV +1.5 points	14.2%	12.7%
Consumer Staples	IMCV +1.5 points	8.7%	7.2%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and QSML, widest gap first
Country	More in IMCVMore in QSML	IMCV	QSML
United States	QSML +0.7 points	98.7%	99.4%
India	QSML +0.6 points	0.0%	0.6%
Other countries (4)	IMCV +1.3 points	1.3%	0.0%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
QSML7.0%

Securities held

IMCV268
QSML376

Asset class

IMCV: Equity
QSML: Equity

Holdings

Only in IMCV268
In both0
Only in QSML376

Only in IMCV

268 securities, 99.9% of IMCV by weight

Automatic Data Processing Inc1.60%
Valero Energy Corp1.57%
Phillips 661.54%
Us Bancorp1.27%
Regeneron Pharmaceuticals1.25%
Pnc Financial Services Group1.24%
3M1.23%
Elevance Health Inc1.20%
Eog Resources1.19%
Mondelez International Class A1.14%
Travelers Companies1.13%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
General Motors1.05%
Cigna1.04%
Hewlett Packard Enterprise1.00%
Target Corp0.96%
Cheniere Energy0.93%
Kinder Morgan0.91%
Marathon Petroleum0.88%
Oneok0.83%
Truist Financial0.82%
Marsh0.82%
Devon Energy0.78%
Sempra0.77%
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%
Prudential Financial Inc0.55%
Sysco0.54%

Only in QSML

376 securities, 100% of QSML by weight

Tg Therapeutics Inc0.82%
Epam Systems Inc0.78%
Abercrombie & Fitch Co0.77%
Gitlab Inc-Cl A0.70%
elf Beauty Inc0.70%
Qualys Inc0.69%
Genpact Ltd0.65%
Victory Capital Holding - A0.65%
Zeta Global Holdings Corp-A0.65%
CommVault Systems Inc0.63%
Essent Group Ltd0.63%
H&R Block Inc0.63%
MarketAxess Holdings Inc0.63%
Lyft Inc-A0.62%
ExlService Holdings Inc0.61%
Ligand Pharmaceuticals Inc0.61%
frontdoor Inc0.60%
Impinj Inc0.59%
Science Applications International Corp0.59%
Uipath Inc - Class A0.59%
Selective Insurance Group0.58%
Installed Building Products Inc0.57%
ACI Worldwide Inc0.57%
Dropbox Inc-Class A0.57%
Box Inc - Class A0.56%
Trex Co Inc0.56%
Ringcentral Inc-Class A0.56%
Ryan Specialty Holdings Inc0.56%
Ollie'S Bargain Outlet Holdi0.55%
Victoria's Secret & Co0.55%
RLI Corp0.55%
Herc Holdings Inc0.55%
White Mountains Insurance GP0.55%
Hims & Hers Health Inc0.54%
Haemonetics Corp/Mass0.54%
Pegasystems Inc0.54%
Mercury General Corp0.53%
Balchem Corp0.53%
Siteone Landscape Supply Inc0.52%
Cheesecake Factory Inc/The0.52%
International Seaways Inc0.52%
Vail Resorts Inc0.52%
Merit Medical Systems Inc0.52%
Choice Hotels International Inc0.51%
Duolingo0.51%
Xometry Inc-A0.51%
Option Care Health Inc0.51%
Sotera Health Co0.51%
Bath & Body Works Inc0.50%
Tenable Holdings Inc0.50%

Weight gaps

IMCV and QSML share no securities.

All 268 IMCV holdings⁠All 363 QSML 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 QSML Cost

Overpaying QSML vs IMCV

$6,436

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

IMCV 0.06%
$1,270
QSML 0.38%
$7,706

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
QSML 0.38%
Overpaying

Year by year

Year	IMCV	QSML	Overpaying
10	$110	$688	$578
20	$432	$2,658	$2,226
30	$1,270	$7,706	$6,436

Expense ratio

0.06%IMCV, cheaper
0.38%QSML

IMCV0.06%QSML0.38%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

QSML 62nd cheapest of 99 funds

IMCV vs QSML Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; QSML 0.52%
Payout (12M): IMCV $1.83; QSML $0.18
Last payment: IMCV $0.52; QSML $0.18
Ex-dividend: IMCV Sep 15, 2026; QSML Dec 26, 2025
Paid on: IMCV Sep 18, 2026; QSML Dec 30, 2025
Frequency: IMCV Quarterly; QSML Annual

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

QSMLAnnual · 3 paymentsAll QSML payments⁠

IMCV vs QSML 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%QSML 18.2%since Feb 2024
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22QSML 0.54since Feb 2024
Worst fallMax drawdown, 5 years: IMCV −19.9%QSML −28.5%since Jan 2024
Market sensitivityBeta, 5 years: IMCV 0.88QSML 1.09; Market = 1

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