AUSF vs. IMCV

Last updated Aug 2, 2026

AUSF (Global X Adaptive U.S. Factor ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds - AUSF tracks the Adaptive Wealth Strategies U.S. Factor Index while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Over the past 5 years, AUSF returned 14.47%/yr vs 10.87%/yr for IMCV. Their correlation of 0.90 means they have usually moved in the same direction. AUSF charges 0.27%/yr vs 0.06%/yr for IMCV.

Performance

AUSF vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Adaptive U.S. Factor ETF (AUSF) 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, AUSF achieves a 12.60% return, which is significantly lower than IMCV's 17.00% return.

AUSF

• 1D: -0.21%
• 1M: 3.29%
• 6M: 7.58%
• YTD: 12.60%
• 1Y: 20.12%
• 3Y*: 19.13%
• 5Y*: 14.47%
• 10Y*: —
• ALL TIME*: 12.70%

IMCV

• 1D: -0.19%
• 1M: 2.38%
• 6M: 13.07%
• YTD: 17.00%
• 1Y: 27.75%
• 3Y*: 15.77%
• 5Y*: 10.87%
• 10Y*: 10.97%
• ALL TIME*: 9.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AUSF Global X Adaptive U.S. Factor ETF	$2.36M	$2.26M	$3.95M
IMCV iShares Morningstar Mid-Cap ETF	$2.44M	$2.33M	$2.03M

AUSF vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AUSF Global X Adaptive U.S. Factor ETF	12.60%	13.69%	16.05%	22.26%	-0.18%	27.48%	1.27%	24.06%	-11.18%
IMCV iShares Morningstar Mid-Cap ETF	17.00%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-14.87%

Correlation

The correlation between AUSF and IMCV is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (All Time) Calculated using the full available price history since Aug 28, 2018	0.90

The correlation between AUSF and IMCV has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

AUSF vs. IMCV - Sectors Allocation Comparison

Sectors	AUSF	IMCV
Financial Services	20.1%	17.7%
Technology	15.7%	9.3%
Industrials	13.4%	11.6%
Healthcare	12.3%	10.3%
Consumer Cyclical	8.8%	8.4%
Consumer Defensive	7.9%	8.6%
Communication Services	6.6%	2.4%
Utilities	4.5%	10.1%
Real Estate	4.3%	5.5%
Energy	3.3%	11.4%
Basic Materials	2.5%	4.8%

Return for Risk

AUSF vs. IMCV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AUSF

AUSF Risk / Return Rank: 80
AUSF Sharpe Ratio Rank: 80
AUSF Sortino Ratio Rank: 82
AUSF Omega Ratio Rank: 77
AUSF Calmar Ratio Rank: 85
AUSF Martin Ratio Rank: 76

IMCV

IMCV Risk / Return Rank: 90
IMCV Sharpe Ratio Rank: 91
IMCV Sortino Ratio Rank: 92
IMCV Omega Ratio Rank: 89
IMCV Calmar Ratio Rank: 90
IMCV Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AUSF vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Adaptive U.S. Factor ETF (AUSF) 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.

	AUSF	IMCV	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.29	-0.46
Sortino ratio: Return per unit of downside risk	2.68	3.33	-0.65
Omega ratio: Gain probability vs. loss probability	1.32	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	3.27	3.84	-0.57
Martin ratio: Return relative to average drawdown	9.56	14.72	-5.16

AUSF vs. IMCV - Sharpe Ratio Comparison

The current AUSF Sharpe Ratio is 1.83, which is comparable to the IMCV Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of AUSF 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

AUSF vs. IMCV - Drawdown Comparison

The maximum AUSF drawdown since its inception was -44.25%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for AUSF and IMCV.

Drawdown Indicators

	AUSF	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-44.25%	-64.74%	+20.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-6.90%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-18.63%	+6.34%
Max Drawdown (5Y) Largest decline over 5 years	-14.23%	-19.87%	+5.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.33%	—
Current Drawdown Current decline from peak	-1.62%	-1.21%	-0.41%
Average Drawdown Average peak-to-trough decline	-4.16%	-8.36%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.80%	+0.19%

Volatility

AUSF vs. IMCV - Volatility Comparison

Global X Adaptive U.S. Factor ETF (AUSF) has a higher volatility of 3.73% compared to iShares Morningstar Mid-Cap ETF (IMCV) at 3.23%. This indicates that AUSF'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

	AUSF	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.23%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	8.15%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.46%	11.59%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.62%	16.52%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	19.55%	-0.59%

AUSF vs. IMCV - Expense Ratio Comparison

AUSF has a 0.27% expense ratio, which is higher than IMCV's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AUSF vs. IMCV - Dividend Comparison

AUSF's dividend yield for the trailing twelve months is around 2.61%, more than IMCV's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSF Global X Adaptive U.S. Factor ETF	2.61%	2.78%	2.63%	1.83%	2.51%	2.22%	2.95%	4.02%	1.46%	0.00%	0.00%	0.00%
IMCV iShares Morningstar Mid-Cap ETF	1.81%	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 AUSF and IMCV in my portfolio?

AUSF 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, AUSF or IMCV?

AUSF has higher volatility (3.73%) compared to IMCV (3.23%). In terms of maximum drawdown, AUSF dropped -44.25% vs IMCV's -64.74%.

Which ETF is better, AUSF or IMCV?

On 5-year performance, AUSF leads with 14.47% vs 10.87% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 3.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUSF or IMCV?

Over the 5-year period, AUSF has performed better with a 14.47% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUSF or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.27% for AUSF.

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

AUSF has the higher dividend yield at 2.61%, compared with 1.81% for IMCV.

What is the main difference between AUSF and IMCV?

AUSF tracks Adaptive Wealth Strategies U.S. Factor Index, while IMCV tracks Morningstar US Mid Cap Broad Value Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.27% for AUSF and 0.06% for IMCV.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.29 vs 1.83), 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.