AIVL vs. IMCV

Last updated Jun 26, 2026

AIVL (WisdomTree U.S. Al Enhanced Value Fund) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds. AIVL is actively managed, while IMCV is passively managed. Over the past 10 years, AIVL returned 9.00%/yr vs 11.28%/yr for IMCV. Their correlation of 0.90 suggests significant overlap in exposure. AIVL charges 0.38%/yr vs 0.06%/yr for IMCV.

Performance

AIVL vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. Al Enhanced Value Fund (AIVL) and iShares Morningstar Mid-Cap ETF (IMCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIVL achieves a 14.65% return, which is significantly higher than IMCV's 12.06% return. Over the past 10 years, AIVL has underperformed IMCV with an annualized return of 9.00%, while IMCV has yielded a comparatively higher 11.28% annualized return.

AIVL

• 1D: 1.99%
• 1M: 3.43%
• YTD: 14.65%
• 6M: 13.61%
• 1Y: 19.53%
• 3Y*: 15.11%
• 5Y*: 8.42%
• 10Y*: 9.00%

IMCV

• 1D: 0.44%
• 1M: 2.32%
• YTD: 12.06%
• 6M: 10.91%
• 1Y: 24.85%
• 3Y*: 16.62%
• 5Y*: 9.62%
• 10Y*: 11.28%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIVL vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIVL WisdomTree U.S. Al Enhanced Value Fund	14.65%	9.72%	13.49%	7.17%	-7.26%	24.30%	-5.82%	24.40%	-9.57%	13.77%
IMCV iShares Morningstar Mid-Cap ETF	12.06%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-10.93%	12.60%

Correlation

The correlation between AIVL and IMCV is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006	0.90

The correlation between AIVL and IMCV has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

AIVL vs. IMCV - Sectors Allocation Comparison

Sectors	AIVL	IMCV
Technology	21.3%	10.3%
Financial Services	17.9%	15.2%
Industrials	15.5%	11.8%
Healthcare	12.0%	8.7%
Utilities	8.9%	9.6%
Consumer Defensive	7.8%	9.0%
Basic Materials	4.6%	6.4%
Communication Services	4.2%	2.5%
Consumer Cyclical	3.1%	9.1%
Energy	3.1%	11.9%
Real Estate	1.5%	5.5%

Return for Risk

AIVL vs. IMCV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIVL

AIVL Risk / Return Rank: 58
AIVL Sharpe Ratio Rank: 56
AIVL Sortino Ratio Rank: 58
AIVL Omega Ratio Rank: 54
AIVL Calmar Ratio Rank: 58
AIVL Martin Ratio Rank: 63

IMCV

IMCV Risk / Return Rank: 78
IMCV Sharpe Ratio Rank: 77
IMCV Sortino Ratio Rank: 80
IMCV Omega Ratio Rank: 74
IMCV Calmar Ratio Rank: 79
IMCV Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIVL vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Al Enhanced Value Fund (AIVL) and iShares Morningstar Mid-Cap ETF (IMCV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIVL	IMCV	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.13	-0.46
Sortino ratio: Return per unit of downside risk	2.44	3.07	-0.63
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.50	3.62	-1.12
Martin ratio: Return relative to average drawdown	10.06	13.43	-3.37

AIVL vs. IMCV - Sharpe Ratio Comparison

The current AIVL Sharpe Ratio is 1.67, which is comparable to the IMCV Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of AIVL and IMCV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIVL vs. IMCV - Drawdown Comparison

The maximum AIVL drawdown since its inception was -62.48%, roughly equal to the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for AIVL and IMCV.

Drawdown Indicators

	AIVL	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-62.48%	-64.74%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-6.90%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-14.48%	-18.63%	+4.15%
Max Drawdown (5Y) Largest decline over 5 years	-19.08%	-19.87%	+0.79%
Max Drawdown (10Y) Largest decline over 10 years	-41.16%	-46.33%	+5.17%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.89%	-8.39%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.85%	+0.10%

Volatility

AIVL vs. IMCV - Volatility Comparison

WisdomTree U.S. Al Enhanced Value Fund (AIVL) has a higher volatility of 4.23% compared to iShares Morningstar Mid-Cap ETF (IMCV) at 3.03%. This indicates that AIVL's price experiences larger fluctuations and is considered to be riskier than IMCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIVL	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	3.03%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	8.11%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	11.74%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	16.62%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	19.61%	-2.25%

AIVL vs. IMCV - Expense Ratio Comparison

AIVL has a 0.38% expense ratio, which is higher than IMCV's 0.06% expense ratio.

Dividends

AIVL vs. IMCV - Dividend Comparison

AIVL's dividend yield for the trailing twelve months is around 1.47%, less than IMCV's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIVL WisdomTree U.S. Al Enhanced Value Fund	1.47%	1.61%	2.13%	2.43%	2.08%	2.75%	3.55%	3.25%	4.18%	3.16%	3.20%	3.41%
IMCV iShares Morningstar Mid-Cap ETF	1.89%	2.23%	2.36%	2.30%	2.36%	1.86%	2.61%	2.45%	2.61%	1.87%	2.09%	2.29%

Frequently Asked Questions

Can I hold both AIVL and IMCV in my portfolio?

AIVL and IMCV have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIVL or IMCV?

AIVL has higher volatility (4.23%) compared to IMCV (3.03%). In terms of maximum drawdown, AIVL dropped -62.48% vs IMCV's -64.74%.

Which ETF is better, AIVL or IMCV?

On 10-year performance, IMCV leads with 11.28% vs 9.00% for AIVL. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIVL or IMCV?

Over the 10-year period, IMCV has performed better with a 11.28% return vs 9.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIVL or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.38% for AIVL.

Which ETF pays a higher dividend yield, AIVL or IMCV?

IMCV has the higher dividend yield at 1.89%, compared with 1.47% for AIVL.

What is the main difference between AIVL and IMCV?

They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.38% for AIVL and 0.06% for IMCV.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.13 vs 1.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.