IMCV vs VONV: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

22.8%by weight

Expense ratio

IMCV0.06%VONV0.06%

Avg volume · 30D

VONV 20.1×the volume

IMCV38.4KVONV772K

10Y return · a year

VONV +1.1pt

IMCV+10.9%VONV+12.0%

IMCV vs VONV Performance

Oct 28, 2021 – Oct 28, 2026

+65.5%IMCV+73.8%VONV

Expense ratio: IMCV 0.06%; VONV 0.06%
Fund size: IMCV $1.25B; VONV $23.3B
1Y total return: IMCV +24.6%; VONV +27.7%, better
Yield (12M): IMCV 1.87%, better; VONV 1.53%
Holdings: IMCV 271; VONV 873
Avg volume (30D): IMCV 38.4K sh; VONV 772K sh, better
NAV per share: IMCV $97.70; VONV $113.36
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, VONV, with each pillar’s weight
Pillar	IMCV	VONV
Cost30% weight	A96	A96
Mission25% weight	A77	A100Higher
Risk15% weight	A74	A85Higher
Tradability15% weight	B69Higher	B60
Holdings10% weight	B68Higher	C49
Durability5% weight	A78	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and VONV 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 ›

VONV ranks 1st and IMCV 4th 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

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

VONVAVanguard Russell 1000 Value ETF

In short

IMCV No read

VONV The plain-vanilla value trade, done cheap: about 900 large US value stocks, full replication of the Russell 1000 Value Index, 0.06% a year. No factor cocktail, no premium price tag, and one of the strongest implementations in its factor peer group.

Stated mandate

IMCV No read

VONV The fund seeks to track the Russell 1000 Value Index, representing large-capitalization value stocks in the United States. It uses passive indexing and full replication to remain closely aligned with that benchmark.

Why people hold it

IMCV No read

VONV 0.06% a year, a fraction of the typical fee among factor ETFs. On a rules-based value index there is little room for cleverness, so cost does most of the work.vanguard.com
Full replication, not sampling: it owns the index's roughly 900 names and has stayed tightly aligned with the Russell 1000 Value benchmark since launching in 2010.
Same Russell benchmark as pricier rivals for less: the Goldman MarketBeta version (GVUS) charges 0.12% to track the identical value index.
A multi-billion-dollar fund that trades actively, among the easiest in its group to get in and out of, and it distributes quarterly.

Worth knowing

IMCV No read

VONV One screen, one style. Value only, with no quality or momentum overlay, so the ride follows the value side of the market wherever it goes.vanguard.com
This is the entire value bucket, not a best-ideas portfolio. About 900 holdings means results hug the large-cap value category rather than stray from it.
Cheaper exists nearby: Vanguard's VYM charges 0.04%, but it screens for dividend yield, a different portfolio than a Russell value index.

Full IMCV profile⁠

Full VONV profile⁠

IMCV vs VONV Holdings

Holdings as of Oct 28, 2026 for IMCV and Oct 27, 2026 for VONV

How IMCV and VONV differ

Overlap by weight

22.8%

Shared holdings make up 96.9% of IMCV and 22.9% of VONV.

Level by level

Holdings255 in both22.8%
Sector11 Sectors77.4%
Countryby domicile97.2%
Asset classEquity100%

Sector

Sector weights in IMCV and VONV, widest gap first
Sector	More in IMCVMore in VONV	IMCV	VONV
Technology	VONV +15.3 points	6.6%	21.9%
Energy	IMCV +7.5 points	13.7%	6.2%
Utilities	IMCV +5.5 points	8.9%	3.4%
Industrials	IMCV +4.6 points	14.1%	9.5%
Consumer Discretionary	VONV +3.7 points	6.7%	10.4%
Communication	VONV +2.3 points	1.1%	3.4%
Consumer Staples	IMCV +1.7 points	8.9%	7.2%
Materials	IMCV +1.6 points	4.9%	3.3%
Health Care	VONV +1.3 points	12.1%	13.4%
Real Estate	IMCV +1.0 points	4.5%	3.5%
Financials	IMCV +0.5 points	18.4%	17.9%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and VONV, widest gap first
Country	More in IMCVMore in VONV	IMCV	VONV
United States	VONV +2.8 points	97.2%	100.0%
Ireland	IMCV +0.8 points	0.8%	0.0%
United Kingdom	IMCV +0.6 points	0.6%	0.0%
Switzerland	IMCV +0.5 points	0.5%	0.0%
Other countries (3)	IMCV +0.9 points	0.9%	0.0%

Concentration

Weight in the 10 largest Holdings

IMCV13.1%
VONV29.8%

Securities held

IMCV268
VONV871

Asset class

IMCV: Equity
VONV: Equity

Holdings

Only in IMCV13
In both255
Only in VONV616

Only in IMCV

13 securities, 2.9% of IMCV by weight

Targa Resources0.47%
Simon Property Group Reit Inc0.46%
Te Connectivity PLC0.33%
Revolution Medicines0.30%
Vylor0.29%
Nxp Semiconductors NV0.27%
Expedia Group0.20%
Darden Restaurants Inc0.19%
Nrg Energy Inc0.14%
Coreweave Class A0.11%
Tapestry0.11%
Las Vegas Sands0.06%
Hologic Inc0.00%

Only in VONV

616 securities, 76.9% of VONV by weight

Amazon.com Inc6.09%
Apple Inc6.07%
Microsoft Corp5.24%
Berkshire Hathaway Inc2.55%
JPMorgan Chase & Co2.43%
ExxonMobil Holdings Corp1.84%
Johnson & Johnson1.75%
Intel Corp1.51%
AbbVie Inc1.17%
Cisco Systems Inc1.17%
Walmart Inc1.15%
Chevron Corp1.04%
Merck & Co Inc0.99%
Procter & Gamble Co/The0.93%
UnitedHealth Group Inc0.91%
Bank of America Corp0.91%
Philip Morris International Inc0.82%
Coca-Cola Co/The0.81%
Meta Platforms Inc0.80%
Thermo Fisher Scientific Inc0.69%
RTX Corp0.69%
Goldman Sachs Group Inc/The0.67%
Wells Fargo & Co0.67%
Costco Wholesale Corp0.63%
Linde PLC0.60%
Morgan Stanley0.58%
International Business Machines Corp0.57%
QUALCOMM Inc0.53%
Verizon Communications Inc0.53%
Gilead Sciences Inc0.51%
Salesforce Inc0.50%
Walt Disney Co/The0.50%
Citigroup Inc0.50%
Analog Devices Inc0.49%
Abbott Laboratories0.47%
Welltower Inc0.46%
Deere & Co0.46%
McDonald's Corp0.45%
AT&T Inc0.45%
Pfizer Inc0.45%
Blackrock Inc0.44%
NextEra Energy Inc0.43%
ConocoPhillips0.42%
PepsiCo Inc0.42%
Union Pacific Corp0.41%
Charles Schwab Corp/The0.41%
Eaton Corp PLC0.39%
Danaher Corp0.39%
Vertex Pharmaceuticals Inc0.37%
Bristol-Myers Squibb Co0.35%

Weight gaps

The 100 widest of 255 Holdings in both funds.

Holding weights in IMCV and VONV, widest gap first
Holding	More in IMCVMore in VONV	IMCV	VONV
Automatic Data Processing IncADP	IMCV +1.44 points	1.62%	0.18%
Valero Energy CorpVLO	IMCV +1.28 points	1.55%	0.27%
Phillips 66PSX	IMCV +1.23 points	1.49%	0.26%
Us BancorpUSB	IMCV +1.04 points	1.29%	0.25%
3MMMM	IMCV +1.03 points	1.23%	0.20%
Pnc Financial Services GroupPNC	IMCV +1.01 points	1.26%	0.25%
Elevance Health IncELV	IMCV +1.00 points	1.23%	0.23%
Eog ResourcesEOG	IMCV +0.97 points	1.17%	0.20%
Travelers CompaniesTRV	IMCV +0.95 points	1.15%	0.20%
United Parcel Service Inc Class BUPS	IMCV +0.94 points	1.10%	0.16%
SlbSLB	IMCV +0.92 points	1.12%	0.20%
Regeneron PharmaceuticalsREGN	IMCV +0.91 points	1.12%	0.21%
Mondelez International Class AMDLZ	IMCV +0.91 points	1.11%	0.20%
Hewlett Packard EnterpriseHPE	IMCV +0.89 points	1.12%	0.23%
CignaCI	IMCV +0.85 points	1.05%	0.20%
ModernaMRNA	IMCV +0.83 points	1.02%	0.19%
General MotorsGM	IMCV +0.79 points	0.98%	0.19%
Kinder MorganKMI	IMCV +0.76 points	0.92%	0.16%
Target CorpTGT	IMCV +0.73 points	0.93%	0.20%
Marathon PetroleumMPC	IMCV +0.71 points	0.87%	0.16%
Cheniere EnergyLNG	IMCV +0.72 points	0.86%	0.14%
OneokOKE	IMCV +0.69 points	0.84%	0.15%
Truist FinancialTFC	IMCV +0.66 points	0.82%	0.16%
Devon EnergyDVN	IMCV +0.64 points	0.78%	0.14%
SempraSRE	IMCV +0.63 points	0.77%	0.14%
AflacAFL	IMCV +0.62 points	0.76%	0.14%
Dominion EnergyD	IMCV +0.61 points	0.76%	0.15%
Delta Air LinesDAL	IMCV +0.61 points	0.74%	0.13%
Becton DickinsonBDX	IMCV +0.60 points	0.74%	0.14%
MetlifeMET	IMCV +0.60 points	0.74%	0.14%
PayPal HoldingsPYPL	IMCV +0.59 points	0.67%	0.08%
Strategy Inc Class AMSTR	IMCV +0.57 points	0.72%	0.15%
Colgate-PalmoliveCL	IMCV +0.56 points	0.67%	0.11%
MarshMRSH	IMCV +0.56 points	0.79%	0.23%
Xcel Energy IncXEL	IMCV +0.56 points	0.68%	0.12%
Paccar IncPCAR	IMCV +0.55 points	0.71%	0.16%
Keurig Dr Pepper IncKDP	IMCV +0.54 points	0.65%	0.11%
Occidental Petroleum CorpOXY	IMCV +0.52 points	0.63%	0.11%
Exelon CorpEXC	IMCV +0.53 points	0.64%	0.11%
Ford Motor CoF	IMCV +0.51 points	0.64%	0.13%
Nike Class BNKE	IMCV +0.51 points	0.62%	0.11%
WilliamsWMB	IMCV +0.49 points	0.72%	0.23%
Iqvia Holdings IncIQV	IMCV +0.50 points	0.62%	0.12%
SyscoSYY	IMCV +0.50 points	0.55%	0.05%
Consolidated EdisonED	IMCV +0.49 points	0.59%	0.10%
Northrop Grumman CorpNOC	IMCV +0.46 points	0.64%	0.18%
Workday Class AWDAY	IMCV +0.46 points	0.56%	0.10%
Kimberly ClarkKMB	IMCV +0.44 points	0.50%	0.06%
Prudential Financial IncPRU	IMCV +0.44 points	0.55%	0.11%
Crown Castle IncCCI	IMCV +0.44 points	0.52%	0.08%
American International GroupAIG	IMCV +0.44 points	0.55%	0.11%
KrogerKR	IMCV +0.43 points	0.52%	0.09%
BiogenBIIB	IMCV +0.42 points	0.51%	0.09%
D R HortonDHI	IMCV +0.42 points	0.51%	0.09%
Hartford Insurance GroupHIG	IMCV +0.42 points	0.51%	0.09%
Diamondback EnergyFANG	IMCV +0.41 points	0.51%	0.10%
PaychexPAYX	IMCV +0.39 points	0.48%	0.09%
Norfolk Southern CorpNSC	IMCV +0.40 points	0.59%	0.19%
American Electric Power IncAEP	IMCV +0.39 points	0.57%	0.18%
Archer Daniels MidlandADM	IMCV +0.39 points	0.49%	0.10%
United Airlines HoldingsUAL	IMCV +0.38 points	0.47%	0.09%
KenvueKVUE	IMCV +0.38 points	0.47%	0.09%
Arch Capital GroupACGL	IMCV +0.38 points	0.46%	0.08%
Illinois Tool IncITW	IMCV +0.38 points	0.52%	0.14%
Ge Healthcare TechnologiesGEHC	IMCV +0.37 points	0.45%	0.08%
M&T BankMTB	IMCV +0.36 points	0.45%	0.09%
Crh Public Limited PLCCRH	IMCV +0.36 points	0.51%	0.15%
EbayEBAY	IMCV +0.36 points	0.45%	0.09%
Realty Income ReitO	IMCV +0.35 points	0.49%	0.14%
Hp IncHPQ	IMCV +0.35 points	0.43%	0.08%
Air Products and ChemicalsAPD	IMCV +0.34 points	0.51%	0.17%
Huntington Bancshares IncHBAN	IMCV +0.35 points	0.43%	0.08%
Cognizant Technology Solutions ClaCTSH	IMCV +0.34 points	0.41%	0.07%
Public Storage ReitPSA	IMCV +0.34 points	0.46%	0.12%
HalliburtonHAL	IMCV +0.35 points	0.41%	0.07%
Netapp IncNTAP	IMCV +0.33 points	0.40%	0.07%
PG&E CorpPCG	IMCV +0.32 points	0.39%	0.07%
Dollar General CorpDG	IMCV +0.32 points	0.39%	0.07%
Dte EnergyDTE	IMCV +0.31 points	0.38%	0.07%
Labcorp HoldingsLH	IMCV +0.31 points	0.38%	0.07%
Quest Diagnostics IncDGX	IMCV +0.30 points	0.37%	0.07%
Vici Pptys IncVICI	IMCV +0.29 points	0.36%	0.07%
Roper TechnologiesROP	IMCV +0.30 points	0.39%	0.09%
Eversource EnergyES	IMCV +0.28 points	0.35%	0.07%
Ppg IndustriesPPG	IMCV +0.29 points	0.35%	0.06%
HumanaHUM	IMCV +0.28 points	0.41%	0.13%
Firstenergy CorpFE	IMCV +0.28 points	0.35%	0.07%
Fiserv IncFISV	IMCV +0.28 points	0.35%	0.07%
DowDOW	IMCV +0.29 points	0.34%	0.05%
Cardinal HealthCAH	IMCV +0.28 points	0.36%	0.08%
Bank of New York Mellon CorpBNY	IMCV +0.28 points	0.53%	0.25%
Allstate CorpALL	IMCV +0.28 points	0.44%	0.16%
Synchrony FinancialSYF	IMCV +0.28 points	0.34%	0.06%
Fifth Third BancorpFITB	IMCV +0.27 points	0.40%	0.13%
International Flavors & FragrancesIFF	IMCV +0.27 points	0.33%	0.06%
Principal Financial Group IncPFG	IMCV +0.26 points	0.33%	0.07%
Royalty Pharma PLC Class ARPRX	IMCV +0.26 points	0.33%	0.07%
Emerson ElectricEMR	IMCV +0.26 points	0.50%	0.24%
PultegroupPHM	IMCV +0.26 points	0.32%	0.06%
Regions FinancialRF	IMCV +0.26 points	0.32%	0.06%

All 268 IMCV holdings⁠All 872 VONV 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 VONV Cost

Same expense ratio

$1,270

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

IMCV 0.06%
$1,270
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
VONV 0.06%

Year by year

Year	IMCV	VONV
10	$110	$110
20	$432	$432
30	$1,270	$1,270

Expense ratio

0.06%IMCV
0.06%VONV

IMCV0.06%VONV0.06%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

VONV 4th cheapest of 99 funds

IMCV vs VONV Dividends

Last 12 months to Oct 28, 2026

Yield (12M): IMCV 1.87%, better; VONV 1.53%
Payout (12M): IMCV $1.83; VONV $1.74
Last payment: IMCV $0.52; VONV $0.42
Ex-dividend: IMCV Sep 15, 2026; VONV Sep 23, 2026
Paid on: IMCV Sep 18, 2026; VONV Sep 25, 2026
Frequency: IMCV Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

IMCV vs VONV Risk

Fall from peak · 5 years

IMCV
VONV

Risk facts

VolatilityStd dev, 3 years: IMCV 13.5%VONV 12.4%, better
Return per unit of riskSharpe ratio, 3 years: IMCV 0.94VONV 1.18, better
Worst fallMax drawdown, 5 years: IMCV −19.9%VONV −18.9%, better
Market sensitivityBeta, 5 years: IMCV 0.88VONV 0.85; Market = 1

IMCV and VONV in the news

All news⁠

Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026VONV

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IMCV vs VONV

In short

Stated mandate

Why people hold it

Worth knowing

How IMCV and VONV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IMCV

Only in VONV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best value ETF depends on whose list you bought

US multifactor funds ran 30 points apart