IMCV vs SPGP: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Invesco S&P 500 GARP ETF

SPGPBNYSE Arca

Overlap

10.3%by weight

Expense ratio

IMCV −0.28pt a year

IMCV0.06%SPGP0.34%

Avg volume · 30D

SPGP 2.1×the volume

IMCV38.9KSPGP82.6K

10Y return · a year

SPGP +4.1pt

IMCV+11.1%SPGP+15.2%

IMCV vs SPGP Performance

Oct 29, 2021 – Oct 30, 2026

+68.3%IMCV+40.2%SPGP

Expense ratio: IMCV 0.06%, better; SPGP 0.34%
Fund size: IMCV $1.27B; SPGP $2.08B
1Y total return: IMCV +27.0%, better; SPGP +10.0%
Yield (12M): IMCV 1.84%, better; SPGP 0.78%
Holdings: IMCV 271; SPGP 77
Avg volume (30D): IMCV 38.9K sh; SPGP 82.6K sh, better
NAV per share: IMCV $99.16; SPGP $122.56
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, SPGP, with each pillar’s weight
Pillar	IMCV	SPGP
Cost30% weight	A96Higher	C46
Mission25% weight	A76	A91Higher
Risk15% weight	A77Higher	D25
Tradability15% weight	B69	A86Higher
Holdings10% weight	B69Higher	B56
Durability5% weight	A77	A83Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and SPGP 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 SPGP 38th 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 37BJHMMJohn Hancock Multifactor Mid Cap ETFScore 64
Rank 38BSPGPInvesco S&P 500 GARP ETFScore 62
Rank 39BJOETVirtus Terranova U.S. Quality Momentum ETFScore 61

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

SPGPBInvesco S&P 500 GARP ETF

In short

IMCV No data

SPGP Growth at a reasonable price, by rulebook: screen the S&P 500 for fast earnings and sales growth, then keep only the names that also look cheap and financially sound. About 75 stocks, weighted by growth score, for 0.34%.

Stated mandate

IMCV No data

SPGP SPGP seeks exposure to companies combining fundamental growth, reasonable valuation, financial strength, and earning power through the S&P 500 GARP Index.

Why people hold it

IMCV No data

SPGP Two gates, in order: rank the S&P 500 on three-year earnings and sales growth, then keep the best on return on equity, leverage and earnings-to-price. About 75 names survive.spglobal.com spglobal.com 2
Weighted by growth score, not market cap, with caps on any single stock and any one sector, so it won't just reload on whatever mega-cap has run hardest.spglobal.com spglobal.com 2
Rebalances each June and December on fundamental data, so the valuation discipline gets reapplied twice a year instead of drifting with prices.spglobal.com spglobal.com 2
Has tracked its index closely and trades regularly enough for everyday retail orders; it has grown into a multi-billion-dollar fund.

Worth knowing

IMCV No data

SPGP At 0.34%, with no fee waiver, the cost sits near its category median; cheaper broad factor peers exist, such as VYM at 0.04% and VONV at 0.06%.
Narrow by design, roughly 75 of the 500, and it has swung harder than the typical multifactor fund; the sector mix can shift at each rebalance.spglobal.com
Distributions come quarterly, and yield plays no part in selection: the screen reads growth, quality and valuation only.spglobal.com

Full IMCV profile⁠

Full SPGP profile⁠

IMCV vs SPGP Holdings

How IMCV and SPGP differ

Overlap by weight

10.3%

Shared holdings make up 39.0% of SPGP and 10.3% of IMCV.

Level by level

Holdings28 in both10.3%
Sector11 Sectors58.6%
Countryby domicile97.6%
Asset classEquity100%

Sector

Sector weights in IMCV and SPGP, widest gap first
Sector	More in IMCVMore in SPGP	IMCV	SPGP
Technology	SPGP +14.6 points	6.5%	21.1%
Financials	SPGP +13.1 points	18.5%	31.6%
Energy	IMCV +12.2 points	13.4%	1.2%
Utilities	IMCV +8.1 points	9.0%	0.9%
Consumer Staples	IMCV +7.7 points	8.7%	1.0%
Communication	SPGP +7.1 points	1.1%	8.2%
Consumer Discretionary	SPGP +6.5 points	6.9%	13.4%
Real Estate	IMCV +4.6 points	4.6%	0.0%
Industrials	IMCV +4.4 points	14.2%	9.8%
Materials	IMCV +3.2 points	5.0%	1.8%
Health Care	IMCV +1.3 points	12.2%	10.9%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and SPGP, widest gap first
Country	More in IMCVMore in SPGP	IMCV	SPGP
Switzerland	SPGP +2.4 points	0.2%	2.6%
United States	IMCV +1.3 points	98.7%	97.4%
Other countries (3)	IMCV +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
SPGP20.7%

Securities held

IMCV268
SPGP75

Asset class

IMCV: Equity
SPGP: Equity

Holdings

Only in IMCV240
In both28
Only in SPGP47

Only in IMCV

240 securities, 89.6% 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%
United Parcel Service Inc Class B1.11%
Slb1.09%
Moderna1.08%
General Motors1.05%
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%
Paccar Inc0.69%
Colgate-Palmolive0.69%
Xcel Energy Inc0.68%
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%
Workday Class A0.53%
Diamondback Energy0.53%
Bank of New York Mellon Corp0.52%
Air Products and Chemicals0.52%

Only in SPGP

47 securities, 61.0% of SPGP by weight

NVIDIA Corp2.35%
Eli Lilly & Co2.23%
Progressive Corp/The2.17%
Arista Networks Inc2.07%
Royal Caribbean Cruises Ltd2.03%
Newmont Corp1.84%
General Electric Co1.76%
Meta Platforms Inc1.72%
Mastercard Inc1.53%
GoDaddy Inc1.51%
Comfort Systems USA Inc1.49%
Universal Health Services Inc1.48%
Dexcom Inc1.42%
Airbnb Inc1.40%
EMCOR Group Inc1.36%
Berkshire Hathaway Inc1.34%
Microsoft Corp1.32%
Assurant Inc1.32%
Fortinet Inc1.30%
Intuit Inc1.30%
Uber Technologies Inc1.27%
Boston Scientific Corp1.27%
Everest Group Ltd1.25%
Chubb Ltd1.25%
Visa Inc1.17%
Moody's Corp1.17%
Cboe Global Markets Inc1.16%
Baker Hughes Co1.16%
Adobe Inc1.16%
GE Vernova Inc1.16%
Erie Indemnity Co1.15%
AppLovin Corp1.14%
Autodesk Inc1.11%
Walt Disney Co/The1.10%
Chipotle Mexican Grill Inc1.09%
Deckers Outdoor Corp1.05%
American Express Co1.04%
Parker-Hannifin Corp1.03%
Comcast Corp1.02%
Alphabet Inc0.99%
Trane Technologies PLC0.96%
Globe Life Inc0.95%
Netflix Inc0.92%
Fiserv Inc0.90%
KLA Corp0.82%
Rollins Inc0.71%
Invesco Government & Agency Portfolio0.03%

Weight gaps

All 28 Holdings in both funds, largest gap first.

Holding weights in IMCV and SPGP, widest gap first
Holding	More in IMCVMore in SPGP	IMCV	SPGP
Cincinnati FinancialCINF	SPGP +2.02 points	0.20%	2.22%
Expedia GroupEXPE	SPGP +1.74 points	0.20%	1.94%
Incyte CorpINCY	SPGP +1.63 points	0.16%	1.79%
Arch Capital GroupACGL	SPGP +1.59 points	0.48%	2.07%
Carnival Corp LtdCCL	SPGP +1.52 points	0.31%	1.83%
PtcPTC	SPGP +1.44 points	0.10%	1.54%
First SolarFSLR	SPGP +1.40 points	0.11%	1.51%
Las Vegas SandsLVS	SPGP +1.31 points	0.06%	1.37%
Allstate CorpALL	SPGP +1.28 points	0.45%	1.73%
ResmedRMD	SPGP +1.16 points	0.21%	1.37%
GarminGRMN	SPGP +1.13 points	0.20%	1.33%
LoewsL	SPGP +1.11 points	0.16%	1.27%
PayPal HoldingsPYPL	SPGP +0.98 points	0.67%	1.65%
EbayEBAY	SPGP +0.94 points	0.46%	1.40%
Fox Class AFOXA	SPGP +0.92 points	0.17%	1.09%
Lululemon AthleticaLULU	SPGP +0.88 points	0.15%	1.03%
Synchrony FinancialSYF	SPGP +0.88 points	0.34%	1.22%
Leidos HoldingsLDOS	SPGP +0.85 points	0.24%	1.09%
Ameriprise Finance IncAMP	SPGP +0.83 points	0.34%	1.17%
United Airlines HoldingsUAL	SPGP +0.80 points	0.46%	1.26%
Constellation Brands Class ASTZ	SPGP +0.71 points	0.27%	0.98%
Wr BerkleyWRB	SPGP +0.71 points	0.28%	0.99%
Hartford Insurance GroupHIG	SPGP +0.70 points	0.50%	1.20%
Edison InternationalEIX	SPGP +0.67 points	0.30%	0.97%
Prudential Financial IncPRU	SPGP +0.61 points	0.55%	1.16%
Delta Air LinesDAL	SPGP +0.41 points	0.72%	1.13%
Travelers CompaniesTRV	SPGP +0.30 points	1.13%	1.43%
CignaCI	SPGP +0.22 points	1.04%	1.26%

All 268 IMCV holdings⁠All 75 SPGP 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 SPGP Cost

Overpaying SPGP vs IMCV

$5,662

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

IMCV 0.06%
$1,270
SPGP 0.34%
$6,932

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
SPGP 0.34%
Overpaying

Year by year

Year	IMCV	SPGP	Overpaying
10	$110	$616	$506
20	$432	$2,386	$1,954
30	$1,270	$6,932	$5,662

Expense ratio

0.06%IMCV, cheaper
0.34%SPGP

IMCV0.06%SPGP0.34%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

SPGP 53rd cheapest of 99 funds

IMCV vs SPGP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; SPGP 0.78%
Payout (12M): IMCV $1.83; SPGP $0.96
Last payment: IMCV $0.52; SPGP $0.11
Ex-dividend: IMCV Sep 15, 2026; SPGP Sep 21, 2026
Paid on: IMCV Sep 18, 2026; SPGP Sep 25, 2026
Frequency: IMCV Quarterly; SPGP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

SPGPQuarterly · 39 paymentsAll SPGP payments⁠

IMCV vs SPGP Risk

Fall from peak · 5 years

IMCV
SPGP

Risk facts

VolatilityStd dev, 3 years: IMCV 13.6%, betterSPGP 13.8%
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22, betterSPGP 0.65
Worst fallMax drawdown, 5 years: IMCV −19.9%, betterSPGP −22.9%
Market sensitivityBeta, 5 years: IMCV 0.88SPGP 0.96; Market = 1

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