IMCV vs ULVM: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

VictoryShares US Value Momentum ETF

ULVMBNasdaq

Overlap

35.7%by weight

Expense ratio

IMCV −0.14pt a year

IMCV0.06%ULVM0.20%

Avg volume · 30D

IMCV 18.4×the volume

IMCV38.9KULVM2.12K

5Y return · a year

ULVM +0.3pt

IMCV+11.0%ULVM+11.3%

IMCV vs ULVM Performance

Oct 29, 2021 – Oct 30, 2026

+68.3%IMCV+70.4%ULVM

Expense ratio: IMCV 0.06%, better; ULVM 0.20%
Fund size: IMCV $1.27B; ULVM $267M
1Y total return: IMCV +27.0%, better; ULVM +21.7%
Yield (12M): IMCV 1.84%, better; ULVM 1.79%
Holdings: IMCV 271; ULVM 126
Avg volume (30D): IMCV 38.9K sh, better; ULVM 2.12K sh
NAV per share: IMCV $99.16; ULVM $106.88
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, ULVM, with each pillar’s weight
Pillar	IMCV	ULVM
Cost30% weight	A96Higher	A71
Mission25% weight	A76	A80Higher
Risk15% weight	A77Higher	A75
Tradability15% weight	B69Higher	D32
Holdings10% weight	B69Higher	B67
Durability5% weight	A77Higher	C51

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and ULVM 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 ULVM 32nd 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 32BMFUSPIMCO RAFI Dynamic Multi-Factor U.S. Equity ETFScore 66
Rank 32BULVMVictoryShares US Value Momentum ETFScore 66
Rank 35BFCPIFidelity Stocks for Inflation ETFScore 65

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

ULVMBVictoryShares US Value Momentum ETF

In short

IMCV No data

ULVM Most factor funds make you pick a side: cheap stocks or winning stocks. ULVM buys the overlap, holding roughly 130 US names that screen well on both value and momentum, with weights tilted toward the calmer ones.

Stated mandate

IMCV No data

ULVM The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Select Value Momentum Blend Index.

Why people hold it

IMCV No data

ULVM Costs 0.25% a year, under the median for US multifactor ETFs, and matches Schwab's FNDX while doing a more specialized job.
Sticks tightly to the MSCI USA Select Value Momentum Blend Index, one of the closer index implementations in its multifactor peer group.
The index family is built to weight toward lower-volatility names and keep turnover moderate, so the value-momentum tilt arrives with less churn than a raw factor sleeve.msci.com
Pays distributions monthly, not the quarterly cadence most US equity funds run on.

Worth knowing

IMCV No data

ULVM Thinly traded for its size. Spreads can widen, and that cost lands on you at the moment you trade, on top of the expense ratio.
About 130 stocks, a slice of the large-cap universe, so individual names and sector tilts swing the fund more than in a broad value index.
Plain value exposure costs less: VONV runs 0.06% and GVUS 0.12%. The momentum screen and volatility weighting are what the extra fee buys.

Full IMCV profile⁠

Full ULVM profile⁠

IMCV vs ULVM Holdings

How IMCV and ULVM differ

Overlap by weight

35.7%

Shared holdings make up 74.3% of ULVM and 39.7% of IMCV.

Level by level

Holdings87 in both35.7%
Sector11 Sectors81.3%
Countryby domicile98.4%
Asset classEquity100%

Sector

Sector weights in IMCV and ULVM, widest gap first
Sector	More in IMCVMore in ULVM	IMCV	ULVM
Financials	ULVM +9.9 points	18.5%	28.4%
Energy	IMCV +8.6 points	13.4%	4.8%
Consumer Staples	IMCV +4.8 points	8.7%	3.9%
Industrials	IMCV +3.8 points	14.2%	10.4%
Technology	ULVM +2.8 points	6.5%	9.3%
Real Estate	ULVM +2.4 points	4.6%	7.0%
Communication	ULVM +2.1 points	1.1%	3.2%
Utilities	IMCV +1.2 points	9.0%	7.8%
Consumer Discretionary	ULVM +1.0 points	6.9%	7.9%
Health Care	ULVM +0.5 points	12.2%	12.7%
Materials	IMCV +0.3 points	5.0%	4.7%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and ULVM, widest gap first
Country	More in IMCVMore in ULVM	IMCV	ULVM
United States	IMCV +1.1 points	98.7%	97.6%
Switzerland	ULVM +1.1 points	0.2%	1.3%
Other countries (3)	ULVM +0.1 points	1.1%	1.2%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
ULVM14.3%

Securities held

IMCV268
ULVM125

Asset class

IMCV: Equity
ULVM: Equity

Holdings

Only in IMCV181
In both87
Only in ULVM38

Only in IMCV

181 securities, 60.2% of IMCV by weight

Automatic Data Processing Inc1.60%
Phillips 661.54%
3M1.23%
Elevance Health Inc1.20%
Mondelez International Class A1.14%
Slb1.09%
Moderna1.08%
Cheniere Energy0.93%
Kinder Morgan0.91%
Oneok0.83%
Marsh0.82%
Devon Energy0.78%
Sempra0.77%
Dominion Energy0.77%
Becton Dickinson0.74%
Metlife0.73%
Williams0.72%
Colgate-Palmolive0.69%
Xcel Energy Inc0.68%
Keurig Dr Pepper Inc0.66%
Strategy Inc Class A0.65%
Exelon Corp0.65%
Northrop Grumman Corp0.64%
Nike Class B0.62%
Iqvia Holdings Inc0.60%
Norfolk Southern Corp0.59%
American Electric Power Inc0.56%
Prudential Financial Inc0.55%
Sysco0.54%
Crh Public Limited PLC0.53%
Workday Class A0.53%
Air Products and Chemicals0.52%
Kroger0.52%
Crown Castle Inc0.52%
Illinois Tool Inc0.52%
Hartford Insurance Group0.50%
Emerson Electric0.49%
Kimberly Clark0.49%
Paychex0.49%
Targa Resources0.48%
Ge Healthcare Technologies0.48%
Public Storage Reit0.47%
Kenvue0.46%
Ebay0.46%
Huntington Bancshares Inc0.42%
Halliburton0.42%
Roper Technologies0.41%
Labcorp Holdings0.41%
Fifth Third Bancorp0.40%
Dte Energy0.38%

Only in ULVM

38 securities, 25.4% of ULVM by weight

Berkshire Hathaway Inc B1.71%
Chubb Limited1.28%
Johnson & Johnson1.22%
Pfizer Inc.1.19%
Prologis Inc1.02%
Marriott Int'l Inc - Class A1.00%
Bank of America Corp.0.89%
Bristol-Myers Squibb Co0.85%
Johnson Controls Intl0.83%
Verizon Communications0.81%
Fedex Corp.0.78%
Franklin Templeton Inc0.78%
Best Buy Co Inc0.74%
Citigroup Inc.0.72%
Cvs Health Corp0.70%
Elevance Health Inc0.69%
Capital 1 Financial Corp0.69%
UnitedHealth Group Inc.0.68%
Hf Sinclair Corp0.67%
Jazz Pharmaceuticals PLC0.64%
J.b. Hunt Transport Serv0.62%
Alphabet Inc - Class A0.61%
Caseys General Storesinc0.59%
Fiserv Inc.0.58%
Lyondellbasell Industries0.57%
Keysight Technologies Inc0.49%
Smurfit Westrock PLC0.48%
Ati Inc0.46%
Caterpillar Inc0.45%
Jabil Inc0.44%
On Semiconductor Corp0.35%
Comfort Systems Usa Inc.0.34%
Bloom Energy Corp0.30%
Micron Technology Inc.0.28%
Western Digital Corp.0.25%
Seagate Technology Hold0.24%
Intel Corp0.22%
Sandisk Corp/De0.22%

Weight gaps

All 87 Holdings in both funds, largest gap first.

Holding weights in IMCV and ULVM, widest gap first
Holding	More in IMCVMore in ULVM	IMCV	ULVM
LoewsL	ULVM +1.29 points	0.16%	1.45%
EvergyEVRG	ULVM +1.24 points	0.27%	1.51%
Centerpoint EnergyCNP	ULVM +1.23 points	0.20%	1.43%
AmerenAEE	ULVM +1.15 points	0.24%	1.39%
W. P. Carey ReitWPC	ULVM +1.02 points	0.19%	1.21%
Cincinnati FinancialCINF	ULVM +1.00 points	0.20%	1.20%
Snap On IncSNA	ULVM +0.94 points	0.15%	1.09%
Reliance Steel & AluminumRS	ULVM +0.92 points	0.14%	1.06%
Consolidated EdisonED	ULVM +0.91 points	0.59%	1.50%
Valero Energy CorpVLO	IMCV +0.87 points	1.57%	0.70%
East West BancorpEWBC	ULVM +0.83 points	0.25%	1.08%
Realty Income ReitO	ULVM +0.83 points	0.48%	1.31%
Entergy CorpETR	ULVM +0.82 points	0.34%	1.16%
Vici Pptys IncVICI	ULVM +0.80 points	0.37%	1.17%
Principal Financial Group IncPFG	ULVM +0.80 points	0.33%	1.13%
Simon Property Group Reit IncSPG	ULVM +0.79 points	0.47%	1.26%
KeycorpKEY	ULVM +0.78 points	0.27%	1.05%
First Citizens Bancshares Class AFCNCA	ULVM +0.78 points	0.17%	0.95%
Annaly Capital Management ReitNLY	ULVM +0.75 points	0.18%	0.93%
Arch Capital GroupACGL	ULVM +0.73 points	0.48%	1.21%
News Class ANWSA	ULVM +0.72 points	0.15%	0.87%
United TherapeuticsUTHR	ULVM +0.71 points	0.13%	0.84%
AflacAFL	ULVM +0.68 points	0.76%	1.44%
Citizens Financial Group IncCFG	ULVM +0.68 points	0.18%	0.86%
CsxCSX	ULVM +0.67 points	0.43%	1.10%
Northern TrustNTRS	ULVM +0.65 points	0.21%	0.86%
Regions FinancialRF	ULVM +0.65 points	0.32%	0.97%
Quest Diagnostics IncDGX	ULVM +0.64 points	0.38%	1.02%
Ross Stores IncROST	ULVM +0.61 points	0.27%	0.88%
M&T BankMTB	ULVM +0.61 points	0.44%	1.05%
ViatrisVTRS	ULVM +0.57 points	0.29%	0.86%
Hewlett Packard EnterpriseHPE	IMCV +0.56 points	1.00%	0.44%
Steel Dynamics IncSTLD	ULVM +0.55 points	0.14%	0.69%
Dupont De NemoursDD	ULVM +0.55 points	0.26%	0.81%
Ss and C Technologies HoldingsSSNC	ULVM +0.53 points	0.23%	0.76%
American International GroupAIG	ULVM +0.52 points	0.56%	1.08%
NucorNUE	ULVM +0.51 points	0.32%	0.83%
Td SynnexSNX	ULVM +0.51 points	0.15%	0.66%
Kraft HeinzKHC	ULVM +0.51 points	0.29%	0.80%
Bunge Global SABG	ULVM +0.49 points	0.18%	0.67%
State StreetSTT	ULVM +0.48 points	0.36%	0.84%
Allstate CorpALL	ULVM +0.48 points	0.45%	0.93%
Southwest AirlinesLUV	ULVM +0.46 points	0.11%	0.57%
OvintivOVV	ULVM +0.45 points	0.27%	0.72%
Bank of New York Mellon CorpBNY	ULVM +0.45 points	0.52%	0.97%
Fox Class AFOXA	ULVM +0.43 points	0.17%	0.60%
TapestryTPR	ULVM +0.42 points	0.11%	0.53%
Lennar A Class ALEN	ULVM +0.41 points	0.25%	0.66%
Leidos HoldingsLDOS	ULVM +0.41 points	0.24%	0.65%
Edison InternationalEIX	ULVM +0.39 points	0.30%	0.69%
PultegroupPHM	ULVM +0.38 points	0.32%	0.70%
Synchrony FinancialSYF	ULVM +0.37 points	0.34%	0.71%
Te Connectivity PLCTEL	ULVM +0.36 points	0.31%	0.67%
Archer Daniels MidlandADM	ULVM +0.35 points	0.48%	0.82%
Regeneron PharmaceuticalsREGN	IMCV +0.33 points	1.25%	0.92%
Dollar General CorpDG	ULVM +0.31 points	0.40%	0.71%
Centene CorpCNC	ULVM +0.32 points	0.22%	0.54%
General MotorsGM	IMCV +0.30 points	1.05%	0.75%
Global Payments IncGPN	ULVM +0.30 points	0.29%	0.59%
Eog ResourcesEOG	IMCV +0.30 points	1.19%	0.89%
United Parcel Service Inc Class BUPS	IMCV +0.29 points	1.11%	0.82%
DowDOW	ULVM +0.29 points	0.34%	0.63%
BiogenBIIB	ULVM +0.27 points	0.51%	0.78%
PG&E CorpPCG	ULVM +0.26 points	0.40%	0.66%
Tenet Healthcare CorpTHC	ULVM +0.25 points	0.30%	0.55%
Expedia GroupEXPE	ULVM +0.24 points	0.20%	0.44%
Cf Industries Holdings IncCF	ULVM +0.23 points	0.26%	0.49%
Target CorpTGT	IMCV +0.22 points	0.96%	0.74%
Diamondback EnergyFANG	ULVM +0.22 points	0.53%	0.75%
Us BancorpUSB	IMCV +0.23 points	1.27%	1.04%
Dell Technologies Inc Class CDELL	IMCV +0.20 points	0.48%	0.28%
Pnc Financial Services GroupPNC	IMCV +0.19 points	1.24%	1.05%
Zoom Communications Class AZM	ULVM +0.19 points	0.31%	0.50%
D R HortonDHI	ULVM +0.18 points	0.50%	0.68%
Truist FinancialTFC	ULVM +0.15 points	0.82%	0.97%
Cognizant Technology Solutions ClaCTSH	ULVM +0.15 points	0.40%	0.55%
Hp IncHPQ	ULVM +0.14 points	0.36%	0.50%
HumanaHUM	ULVM +0.13 points	0.41%	0.54%
Ford Motor CoF	IMCV +0.11 points	0.66%	0.55%
PayPal HoldingsPYPL	IMCV +0.11 points	0.67%	0.56%
Marathon PetroleumMPC	IMCV +0.10 points	0.88%	0.78%
Delta Air LinesDAL	IMCV +0.10 points	0.72%	0.62%
CignaCI	IMCV +0.08 points	1.04%	0.96%
Travelers CompaniesTRV	ULVM +0.07 points	1.13%	1.20%
Occidental Petroleum CorpOXY	ULVM +0.04 points	0.64%	0.68%
Paccar IncPCAR	ULVM +0.04 points	0.69%	0.73%
United Airlines HoldingsUAL	Same weight	0.46%	0.46%

All 268 IMCV holdings⁠All 127 ULVM 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 ULVM Cost

Overpaying ULVM vs IMCV

$2,885

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

IMCV 0.06%
$1,270
ULVM 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
ULVM 0.20%
Overpaying

Year by year

Year	IMCV	ULVM	Overpaying
10	$110	$365	$255
20	$432	$1,421	$989
30	$1,270	$4,155	$2,885

Expense ratio

0.06%IMCV, cheaper
0.20%ULVM

IMCV0.06%ULVM0.20%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

ULVM 30th cheapest of 99 funds

IMCV vs ULVM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; ULVM 1.79%
Payout (12M): IMCV $1.83; ULVM $1.92
Last payment: IMCV $0.52; ULVM $0.21
Ex-dividend: IMCV Sep 15, 2026; ULVM Oct 8, 2026
Paid on: IMCV Sep 18, 2026; ULVM Oct 9, 2026
Frequency: IMCV Quarterly; ULVM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IMCVQuarterly · 15 paymentsAll IMCV payments⁠

ULVMMonthly · 45 paymentsAll ULVM payments⁠

IMCV vs ULVM Risk

Fall from peak · 5 years

IMCV
ULVM

Risk facts

VolatilityStd dev, 3 years: IMCV 13.6%ULVM 13.1%, better
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22ULVM 1.35, better
Worst fallMax drawdown, 5 years: IMCV −19.9%ULVM −19.8%, better
Market sensitivityBeta, 5 years: IMCV 0.88ULVM 0.87; Market = 1

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