DJD vs. ILCV

Last updated Jun 13, 2026

DJD (Invesco Dow Jones Industrial Average Dividend ETF) and ILCV (iShares Morningstar Value ETF) are both exchange-traded funds - DJD is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average Yield Weight, while ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index. Both are passively managed. Over the past 10 years, DJD returned 12.63%/yr vs 11.78%/yr for ILCV. Their correlation of 0.84 suggests significant overlap in exposure. DJD charges 0.07%/yr vs 0.04%/yr for ILCV.

Performance

DJD vs. ILCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dow Jones Industrial Average Dividend ETF (DJD) and iShares Morningstar Value ETF (ILCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DJD achieves a 12.43% return, which is significantly higher than ILCV's 8.42% return. Over the past 10 years, DJD has outperformed ILCV with an annualized return of 12.63%, while ILCV has yielded a comparatively lower 11.78% annualized return.

DJD

• 1D: 0.61%
• 1M: 5.56%
• YTD: 12.43%
• 6M: 11.65%
• 1Y: 24.61%
• 3Y*: 17.67%
• 5Y*: 10.59%
• 10Y*: 12.63%

ILCV

• 1D: 0.69%
• 1M: 1.58%
• YTD: 8.42%
• 6M: 7.93%
• 1Y: 26.10%
• 3Y*: 18.02%
• 5Y*: 11.66%
• 10Y*: 11.78%

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

DJD vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DJD Invesco Dow Jones Industrial Average Dividend ETF	12.43%	15.83%	13.66%	9.41%	-0.73%	22.40%	0.87%	22.00%	0.03%	21.65%
ILCV iShares Morningstar Value ETF	8.42%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	25.19%	-6.24%	15.00%

Correlation

The correlation between DJD and ILCV is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 16, 2015	0.84

The correlation between DJD and ILCV has been stable across timeframes, ranging from 0.79 to 0.89 - a consistent structural relationship.

DJD vs. ILCV - Sectors Allocation Comparison

Sectors	DJD	ILCV
Healthcare	19.9%	11.5%
Financial Services	14.7%	16.5%
Technology	13.3%	23.8%
Communication Services	12.5%	8.0%
Consumer Cyclical	11.7%	9.5%
Consumer Defensive	10.8%	7.6%
Industrials	8.4%	8.8%
Energy	7.1%	6.0%
Basic Materials	1.6%	2.4%
Real Estate	-	2.0%
Utilities	-	3.5%

Return for Risk

DJD vs. ILCV — Risk / Return Rank

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

DJD

DJD Risk / Return Rank: 84
DJD Sharpe Ratio Rank: 85
DJD Sortino Ratio Rank: 89
DJD Omega Ratio Rank: 81
DJD Calmar Ratio Rank: 87
DJD Martin Ratio Rank: 78

ILCV

ILCV Risk / Return Rank: 88
ILCV Sharpe Ratio Rank: 90
ILCV Sortino Ratio Rank: 90
ILCV Omega Ratio Rank: 88
ILCV Calmar Ratio Rank: 84
ILCV Martin Ratio Rank: 87

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.

DJD vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dow Jones Industrial Average Dividend ETF (DJD) and iShares Morningstar Value ETF (ILCV). 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.

	DJD	ILCV	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.62	-0.22
Sortino ratio: Return per unit of downside risk	3.61	3.69	-0.08
Omega ratio: Gain probability vs. loss probability	1.42	1.47	-0.06
Calmar ratio: Return relative to maximum drawdown	4.38	4.00	+0.38
Martin ratio: Return relative to average drawdown	12.93	16.47	-3.54

DJD vs. ILCV - Sharpe Ratio Comparison

The current DJD Sharpe Ratio is 2.41, which is comparable to the ILCV Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of DJD and ILCV, 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

DJD vs. ILCV - Drawdown Comparison

The maximum DJD drawdown since its inception was -34.66%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for DJD and ILCV.

Drawdown Indicators

	DJD	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-34.66%	-58.63%	+23.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.64%	-6.55%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.28%	-14.95%	+2.67%
Max Drawdown (5Y) Largest decline over 5 years	-19.94%	-18.58%	-1.36%
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	-35.53%	+0.87%
Current Drawdown Current decline from peak	0.00%	-0.34%	+0.34%
Average Drawdown Average peak-to-trough decline	-3.74%	-9.31%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.59%	+0.33%

Volatility

DJD vs. ILCV - Volatility Comparison

Invesco Dow Jones Industrial Average Dividend ETF (DJD) and iShares Morningstar Value ETF (ILCV) have volatilities of 2.78% and 2.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJD	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.83%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	7.15%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	10.00%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.36%	14.24%	-0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	16.67%	-0.03%

DJD vs. ILCV - Expense Ratio Comparison

DJD has a 0.07% expense ratio, which is higher than ILCV's 0.04% 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

DJD vs. ILCV - Dividend Comparison

DJD's dividend yield for the trailing twelve months is around 2.39%, more than ILCV's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DJD Invesco Dow Jones Industrial Average Dividend ETF	2.39%	2.62%	3.00%	3.49%	3.16%	2.82%	3.47%	2.80%	2.66%	2.75%	2.46%	0.08%
ILCV iShares Morningstar Value ETF	1.62%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%

Frequently Asked Questions

Can I hold both DJD and ILCV in my portfolio?

DJD and ILCV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJD or ILCV?

ILCV has higher volatility (2.83%) compared to DJD (2.78%). In terms of maximum drawdown, DJD dropped -34.66% vs ILCV's -58.63%.

Which ETF is better, DJD or ILCV?

On 10-year performance, DJD leads with 12.63% vs 11.78% for ILCV. On fees, ILCV is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJD or ILCV?

Over the 10-year period, DJD has performed better with a 12.63% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJD or ILCV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.07% for DJD.

Which ETF pays a higher dividend yield, DJD or ILCV?

DJD has the higher dividend yield at 2.39%, compared with 1.62% for ILCV.

What is the main difference between DJD and ILCV?

DJD is categorized as Large Cap Blend Equities, while ILCV is Large Cap Value Equities. DJD tracks Dow Jones Industrial Average Yield Weight, while ILCV tracks Morningstar US Large-Mid Cap Broad Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.07% for DJD and 0.04% for ILCV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.62 vs 2.41), 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.