IMCV vs XMVM: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Value ETF

IMCVANasdaq

Invesco S&P MidCap Value with Momentum ETF

XMVMCNYSE Arca

Overlap

1.7%by weight

Expense ratio

IMCV −0.31pt a year

IMCV0.06%XMVM0.37%

Avg volume · 30D

IMCV 1.2×the volume

IMCV38.9KXMVM31.7K

10Y return · a year

XMVM +1.3pt

IMCV+11.1%XMVM+12.4%

IMCV vs XMVM Performance

Oct 29, 2021 – Oct 30, 2026

+68.3%IMCV+74.3%XMVM

Expense ratio: IMCV 0.06%, better; XMVM 0.37%
Fund size: IMCV $1.27B; XMVM $530M
1Y total return: IMCV +27.0%, better; XMVM +26.2%
Yield (12M): IMCV 1.84%, better; XMVM 1.83%
Holdings: IMCV 271; XMVM 80
Avg volume (30D): IMCV 38.9K sh, better; XMVM 31.7K sh
NAV per share: IMCV $99.16; XMVM $74.20
52W range

ETF.net Grade

Pillar letters and Scores for IMCV, XMVM, with each pillar’s weight
Pillar	IMCV	XMVM
Cost30% weight	A96Higher	D38
Mission25% weight	A76Higher	B62
Risk15% weight	A77Higher	C50
Tradability15% weight	B69Higher	D39
Holdings10% weight	B69Higher	C49
Durability5% weight	A77Higher	B68

Rank among US Multifactor funds

How we build Categories ›

Same Category. IMCV and XMVM 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 XMVM 70th 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 70CJHSCJohn Hancock Multifactor Small Cap ETFScore 48
Rank 70CXMVMInvesco S&P MidCap Value with Momentum ETFScore 48
Rank 72CCPTLGlobal X Morningstar Capital Allocation Leaders ETFScore 46

Our read on each fund

ETF.net Research

IMCVAiShares Morningstar Mid-Cap Value ETF

XMVMCInvesco S&P MidCap Value with Momentum ETF

In short

IMCV No data

XMVM Mid-cap value with a second hurdle: a stock has to be cheap and actually moving to get in. Roughly 80 names from the S&P MidCap 400, weighted by how cheap they are rather than how big. Trading since 2005.

Stated mandate

IMCV No data

XMVM The fund is based on the S&P MidCap 400 High Momentum Value Index.

Why people hold it

IMCV No data

XMVM Two screens, not one. S&P ranks the MidCap 400 by value, then re-ranks that cheap pool by momentum, and only names clearing both reach the roughly 80-stock portfolio.spglobal.com
Weighted by value score instead of market cap, so the deepest discounts carry the most weight and the lineup does not drift back toward the plain mid-cap benchmark.spglobal.com
Listed in 2005, giving this value-plus-momentum recipe two decades of real-money history rather than a backtest.

Worth knowing

IMCV No data

XMVM Costs 0.37%, above the category median and above broad value peers like VYM (0.04%) and VONV (0.06%), which buy far wider baskets for far less.
Momentum ranks are refreshed only at the semi-annual rebalance, so the lineup can drift from the live factor picture between resets.spglobal.com
Mid-caps only, about 80 of them, and it trades lightly next to the category's household names.

Full IMCV profile⁠

Full XMVM profile⁠

IMCV vs XMVM Holdings

How IMCV and XMVM differ

Overlap by weight

1.7%

Shared holdings make up 10.0% of XMVM and 1.7% of IMCV.

Level by level

Holdings8 in both1.7%
Sector11 Sectors71.8%
Countryby domicile98.7%
Asset classEquity100%

Sector

Sector weights in IMCV and XMVM, widest gap first
Sector	More in IMCVMore in XMVM	IMCV	XMVM
Financials	XMVM +16.1 points	18.5%	34.6%
Health Care	IMCV +9.3 points	12.2%	2.9%
Consumer Staples	IMCV +7.5 points	8.7%	1.2%
Consumer Discretionary	XMVM +7.2 points	6.9%	14.1%
Energy	XMVM +4.9 points	13.4%	18.3%
Industrials	IMCV +4.4 points	14.2%	9.8%
Materials	IMCV +4.1 points	5.0%	0.9%
Technology	IMCV +1.4 points	6.5%	5.1%
Communication	IMCV +1.1 points	1.1%	0.0%
Utilities	IMCV +0.3 points	9.0%	8.7%
Real Estate	IMCV +0.1 points	4.6%	4.5%

Country, concentration and asset class

Country by domicile

Country weights in IMCV and XMVM, widest gap first
Country	More in IMCVMore in XMVM	IMCV	XMVM
Sweden	XMVM +0.9 points	0.0%	0.9%
Other countries (5)	IMCV +0.9 points	100.0%	99.1%

Concentration

Weight in the 10 largest Holdings

IMCV13.2%
XMVM22.7%

Securities held

IMCV268
XMVM79

Asset class

IMCV: Equity
XMVM: Equity

Holdings

Only in IMCV260
In both8
Only in XMVM71

Only in IMCV

260 securities, 98.2% 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 XMVM

71 securities, 89.9% of XMVM by weight

PBF Energy Inc4.34%
HF Sinclair Corp2.77%
Macy's Inc2.46%
Penske Automotive Group Inc2.04%
RenaissanceRe Holdings Ltd1.90%
Avnet Inc1.87%
Arrow Electronics Inc1.78%
Greif Inc1.75%
CNX Resources Corp1.74%
Jones Lang LaSalle Inc1.64%
AutoNation Inc1.63%
Bank OZK1.63%
Associated Banc-Corp1.57%
Lear Corp1.56%
Hanover Insurance Group Inc/The1.54%
First American Financial Corp1.44%
FNB Corp/PA1.43%
UGI Corp1.43%
Graham Holdings Co1.42%
Old Republic International Corp1.41%
Ally Financial Inc1.39%
Range Resources Corp1.38%
Voya Financial Inc1.36%
Toll Brothers Inc1.34%
United Bankshares Inc/WV1.30%
Western Alliance Bancorp1.29%
Matador Resources Co1.29%
Zions Bancorp NA1.28%
AGCO Corp1.27%
Valley National Bancorp1.26%
Columbia Banking System Inc1.25%
GXO Logistics Inc1.25%
Oshkosh Corp1.24%
Fluor Corp1.23%
Old National Bancorp/IN1.23%
UMB Financial Corp1.15%
Kilroy Realty Corp1.15%
CNO Financial Group Inc1.14%
American Financial Group Inc/OH1.13%
Spire Inc1.08%
Hancock Whitney Corp1.08%
Texas Capital Bancshares Inc1.08%
Black Hills Corp1.06%
National Fuel Gas Co1.04%
Chord Energy Corp1.04%
Murphy Oil Corp1.03%
First Horizon Corp1.03%
Terex Corp1.03%
Wintrust Financial Corp1.02%
ONE Gas Inc1.00%

Weight gaps

All 8 Holdings in both funds, largest gap first.

Holding weights in IMCV and XMVM, widest gap first
Holding	More in IMCVMore in XMVM	IMCV	XMVM
Tenet Healthcare CorpTHC	XMVM +1.76 points	0.30%	2.06%
Td SynnexSNX	XMVM +1.27 points	0.15%	1.42%
Annaly Capital Management ReitNLY	XMVM +1.06 points	0.18%	1.24%
Us Foods HoldingUSFD	XMVM +1.00 points	0.15%	1.15%
OvintivOVV	XMVM +0.97 points	0.27%	1.24%
Permian Resources Class APR	XMVM +0.84 points	0.27%	1.11%
Wesco InternationalWCC	XMVM +0.76 points	0.14%	0.90%
East West BancorpEWBC	XMVM +0.67 points	0.25%	0.92%

All 268 IMCV holdings⁠All 79 XMVM 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 XMVM Cost

Overpaying XMVM vs IMCV

$6,243

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

IMCV 0.06%
$1,270
XMVM 0.37%
$7,513

Amount$10,000

Years30 years

Cost over time

IMCV 0.06%
XMVM 0.37%
Overpaying

Year by year

Year	IMCV	XMVM	Overpaying
10	$110	$670	$560
20	$432	$2,590	$2,158
30	$1,270	$7,513	$6,243

Expense ratio

0.06%IMCV, cheaper
0.37%XMVM

IMCV0.06%XMVM0.37%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

IMCV 4th cheapest of 99 funds

XMVM 61st cheapest of 99 funds

IMCV vs XMVM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCV 1.84%, better; XMVM 1.83%
Payout (12M): IMCV $1.83; XMVM $1.36
Last payment: IMCV $0.52; XMVM $0.35
Ex-dividend: IMCV Sep 15, 2026; XMVM Sep 21, 2026
Paid on: IMCV Sep 18, 2026; XMVM Sep 25, 2026
Frequency: IMCV Quarterly; XMVM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCVQuarterly · 39 paymentsAll IMCV payments⁠

XMVMQuarterly · 39 paymentsAll XMVM payments⁠

IMCV vs XMVM Risk

Fall from peak · 5 years

IMCV
XMVM

Risk facts

VolatilityStd dev, 3 years: IMCV 13.6%, betterXMVM 17.0%
Return per unit of riskSharpe ratio, 3 years: IMCV 1.22, betterXMVM 0.99
Worst fallMax drawdown, 5 years: IMCV −19.9%, betterXMVM −24.1%
Market sensitivityBeta, 5 years: IMCV 0.88XMVM 0.86; Market = 1

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