IMCV vs QVMT: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Invesco S&P 500 Concentrated QVM ETF

QVMTBNYSE Arca

Overlap

24.8%by weight

Expense ratio

IMCV −0.07pt a year

IMCV0.06%QVMT0.13%

Avg volume · 30D

IMCV 4.3×the volume

IMCV38.9KQVMT8.95K

IMCV vs QVMT Performance

Jul 31, 2026 – Oct 30, 2026

+4.4%IMCV−2.9%QVMT

Expense ratio: IMCV 0.06%, better; QVMT 0.13%
Fund size: IMCV $1.27B; QVMT $123M
1Y total return: IMCV +27.0%; QVMT No data
Yield (12M): IMCV 1.84%, better; QVMT 1.74%
Holdings: IMCV 271; QVMT 102
Avg volume (30D): IMCV 38.9K sh, better; QVMT 8.95K sh
NAV per share: IMCV $99.16; QVMT $62.99
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, QVMT, with each pillar’s weight
Pillar	IMCV	QVMT
Cost30% weight	A96Higher	A89
Mission25% weight	A76Higher	B55
Risk15% weight	A77Higher	D31
Tradability15% weight	B69Higher	D39
Holdings10% weight	B69Higher	D34
Durability5% weight	A77Higher	C54

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and QVMT 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 QVMT 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 4AIMCViShares Morningstar Mid-Cap Value ETFScore 80
Rank 5ADCORU.S. Core Equity 1 Portfolio ETF Class SharesScore 79
Rank 44BQVMMInvesco S&P MidCap 400 QVM Multi-factor ETFScore 57
Rank 44BQVMTInvesco S&P 500 Concentrated QVM ETFScore 57
Rank 44BVALQAmerican Century STOXX U.S. Quality Value ETFScore 57

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

QVMTBInvesco S&P 500 Concentrated QVM ETF

In short

IMCV No data

QVMT Three factor bets in one ticker. QVMT screens the S&P 500 for quality, value and momentum together, then keeps only about 100 names, at a fee well under the typical multi-factor fund.

Stated mandate

IMCV No data

QVMT The fund seeks to track an index applying quality, value, and momentum factors to 100 stocks selected from the S&P 500.

Why people hold it

IMCV No data

QVMT 0.13% a year, well below the typical multi-factor peer. The tilt doesn't start in a fee hole.
Quality, value and momentum are screened in one rules-based index instead of stitched together from three separate funds.
Roughly 100 stocks, all pulled from the S&P 500, so the factor tilts actually show up in the portfolio rather than washing out.
Live since 2015 with a published index behind it and cash paid out quarterly.

Worth knowing

IMCV No data

QVMT Thinly traded and small next to the giants in its group, so the spread you pay at the screen can matter more than the yearly fee.
Concentration cuts both ways: about 100 names moves differently, and sometimes harder, than the full 500.
Broad-market peers like VYM and IUSG charge less and hold more; this is the narrower, more opinionated build.

Full IMCV profile⁠

Full QVMT profile⁠

IMCV vs QVMT Holdings

How IMCV and QVMT differ

Overlap by weight

24.8%

Shared holdings make up 34.1% of QVMT and 25.0% of IMCV.

Level by level

Holdings55 in both24.8%
Countryby domicile98.4%
Asset classEquity100%

Sector

No Sector split for QVMT.

Country, concentration and asset class

Country by domicile

Country weights in IMCV and QVMT, widest gap first
Country	More in IMCVMore in QVMT	IMCV	QVMT
Switzerland	QVMT +1.6 points	0.2%	1.8%
Other countries (4)	IMCV +1.6 points	99.8%	98.2%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
QVMT41.6%

Securities held

IMCV268
QVMT101

Asset class

IMCV: Equity
QVMT: Equity

Holdings

Only in IMCV213
In both55
Only in QVMT46

Only in IMCV

213 securities, 74.9% of IMCV by weight

Automatic Data Processing Inc1.60%
Regeneron Pharmaceuticals1.25%
Pnc Financial Services Group1.24%
3M1.23%
Elevance Health Inc1.20%
Eog Resources1.19%
Mondelez International Class A1.14%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
Hewlett Packard Enterprise1.00%
Cheniere Energy0.93%
Kinder Morgan0.91%
Oneok0.83%
Marsh0.82%
Sempra0.77%
Dominion Energy0.77%
Aflac0.76%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
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%
Crh Public Limited PLC0.53%
Workday Class A0.53%
Diamondback Energy0.53%
Bank of New York Mellon Corp0.52%
Air Products and Chemicals0.52%
Kroger0.52%
Crown Castle Inc0.52%
Illinois Tool Inc0.52%
Emerson Electric0.49%
Kimberly Clark0.49%
Paychex0.49%

Only in QVMT

46 securities, 65.8% of QVMT by weight

ExxonMobil Holdings Corp6.11%
Apple Inc6.01%
GE Vernova Inc4.60%
Cisco Systems Inc4.59%
Sandisk Corp3.99%
Lam Research Corp3.97%
Caterpillar Inc3.80%
Western Digital Corp3.03%
KLA Corp2.83%
Newmont Corp2.64%
ConocoPhillips2.60%
AT&T Inc1.92%
Chubb Ltd1.78%
CVS Health Corp1.64%
Progressive Corp/The1.52%
Johnson Controls International plc1.44%
FedEx Corp1.28%
General Dynamics Corp1.20%
Elevance Health Inc1.17%
AppLovin Corp1.13%
Comcast Corp1.12%
Cummins Inc1.01%
Baker Hughes Co0.77%
Comfort Systems USA Inc0.71%
Jabil Inc0.44%
ON Semiconductor Corp0.43%
EMCOR Group Inc0.42%
APA Corp0.38%
Best Buy Co Inc0.29%
Everest Group Ltd0.25%
JB Hunt Transport Services Inc0.25%
CH Robinson Worldwide Inc0.24%
Nordson Corp0.23%
Host Hotels & Resorts Inc0.21%
Ralph Lauren Corp0.21%
Stanley Black & Decker Inc0.21%
Assurant Inc0.21%
Huntington Ingalls Industries Inc0.20%
Skyworks Solutions Inc0.18%
Solventum Corp0.18%
Globe Life Inc0.18%
Universal Health Services Inc0.15%
Franklin Templeton Inc0.14%
Aptiv PLC0.12%
Invesco Government & Agency Portfolio0.04%
Securities Lending - Bnym0.00%

Weight gaps

All 55 Holdings in both funds, largest gap first.

Holding weights in IMCV and QVMT, widest gap first
Holding	More in IMCVMore in QVMT	IMCV	QVMT
Marathon PetroleumMPC	QVMT +0.90 points	0.88%	1.78%
Allstate CorpALL	QVMT +0.74 points	0.45%	1.19%
Ross Stores IncROST	QVMT +0.72 points	0.27%	0.99%
Valero Energy CorpVLO	QVMT +0.57 points	1.57%	2.14%
NucorNUE	QVMT +0.54 points	0.32%	0.86%
L3HARRIS TechnologiesLHX	QVMT +0.48 points	0.26%	0.74%
Ameriprise Finance IncAMP	QVMT +0.35 points	0.34%	0.69%
EbayEBAY	QVMT +0.29 points	0.46%	0.75%
Netapp IncNTAP	QVMT +0.28 points	0.34%	0.62%
Travelers CompaniesTRV	QVMT +0.27 points	1.13%	1.40%
Expedia GroupEXPE	QVMT +0.27 points	0.20%	0.47%
Expand EnergyEXE	QVMT +0.26 points	0.10%	0.36%
General MotorsGM	QVMT +0.25 points	1.05%	1.30%
TapestryTPR	QVMT +0.25 points	0.11%	0.36%
Cincinnati FinancialCINF	QVMT +0.25 points	0.20%	0.45%
Citizens Financial Group IncCFG	QVMT +0.25 points	0.18%	0.43%
Phillips 66PSX	QVMT +0.20 points	1.54%	1.74%
Expeditors International of WashinEXPD	QVMT +0.19 points	0.17%	0.36%
EqtEQT	QVMT +0.19 points	0.30%	0.49%
Archer Daniels MidlandADM	QVMT +0.18 points	0.48%	0.66%
Delta Air LinesDAL	QVMT +0.17 points	0.72%	0.89%
Devon EnergyDVN	QVMT +0.17 points	0.78%	0.95%
Raymond JamesRJF	QVMT +0.15 points	0.19%	0.34%
LoewsL	QVMT +0.13 points	0.16%	0.29%
HumanaHUM	QVMT +0.12 points	0.41%	0.53%
Dupont De NemoursDD	QVMT +0.11 points	0.26%	0.37%
Arch Capital GroupACGL	QVMT +0.11 points	0.48%	0.59%
Incyte CorpINCY	QVMT +0.10 points	0.16%	0.26%
Hartford Insurance GroupHIG	QVMT +0.10 points	0.50%	0.60%
Synchrony FinancialSYF	QVMT +0.09 points	0.34%	0.43%
Textron IncTXT	QVMT +0.08 points	0.13%	0.21%
Us BancorpUSB	IMCV +0.09 points	1.27%	1.18%
Snap On IncSNA	QVMT +0.08 points	0.15%	0.23%
HalliburtonHAL	QVMT +0.05 points	0.42%	0.47%
Target CorpTGT	QVMT +0.06 points	0.96%	1.02%
Lennar A Class ALEN	QVMT +0.05 points	0.25%	0.30%
Cf Industries Holdings IncCF	QVMT +0.05 points	0.26%	0.31%
Tyson Foods Inc Class ATSN	QVMT +0.05 points	0.22%	0.27%
Regions FinancialRF	QVMT +0.05 points	0.32%	0.37%
United Airlines HoldingsUAL	QVMT +0.04 points	0.46%	0.50%
D R HortonDHI	QVMT +0.04 points	0.50%	0.54%
T Rowe Price GroupTROW	QVMT +0.04 points	0.30%	0.34%
CignaCI	QVMT +0.02 points	1.04%	1.06%
Truist FinancialTFC	IMCV +0.02 points	0.82%	0.80%
PultegroupPHM	QVMT +0.02 points	0.32%	0.34%
BiogenBIIB	IMCV +0.01 points	0.51%	0.49%
Principal Financial Group IncPFG	IMCV +0.01 points	0.33%	0.32%
International Flavors & FragrancesIFF	IMCV +0.01 points	0.33%	0.32%
Bunge Global SABG	IMCV +0.01 points	0.18%	0.17%
M&T BankMTB	QVMT +0.01 points	0.44%	0.45%
FortiveFTV	Same weight	0.27%	0.27%
Edison InternationalEIX	IMCV +0.01 points	0.30%	0.29%
Dollar General CorpDG	IMCV +0.01 points	0.40%	0.39%
Fox Class AFOXA	Same weight	0.17%	0.17%
KeycorpKEY	IMCV +0.01 points	0.27%	0.26%

All 268 IMCV holdings⁠All 100 QVMT 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 QVMT Cost

Overpaying QVMT vs IMCV

$1,456

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

IMCV 0.06%
$1,270
QVMT 0.13%
$2,726

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
QVMT 0.13%
Overpaying

Year by year

Year	IMCV	QVMT	Overpaying
10	$110	$238	$128
20	$432	$930	$498
30	$1,270	$2,726	$1,456

Expense ratio

0.06%IMCV, cheaper
0.13%QVMT

IMCV0.06%QVMT0.13%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

QVMT 11th cheapest of 99 funds

IMCV vs QVMT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; QVMT 1.74%
Payout (12M): IMCV $1.83; QVMT $1.09
Last payment: IMCV $0.52; QVMT $0.22
Ex-dividend: IMCV Sep 15, 2026; QVMT Sep 21, 2026
Paid on: IMCV Sep 18, 2026; QVMT Sep 25, 2026
Frequency: IMCV Quarterly; QVMT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

QVMTQuarterly · 39 paymentsAll QVMT payments⁠

IMCV vs QVMT 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%QVMT No data
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22QVMT No data
Worst fallMax drawdown, 5 years: IMCV −19.9%QVMT No data
Market sensitivityBeta, 5 years: IMCV 0.88QVMT 0.86; Market = 1

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