EQRR vs. IMCV

Last updated Jun 4, 2026

EQRR (ProShares Equities for Rising Rates ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds - EQRR tracks the Nasdaq US Large Cap Equity Rising Rates Index while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Over the past 5 years, EQRR returned 12.33%/yr vs 8.69%/yr for IMCV. A 0.73 correlation means they provide meaningful diversification when combined. EQRR charges 0.35%/yr vs 0.06%/yr for IMCV.

Performance

EQRR vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) 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, EQRR achieves a 27.33% return, which is significantly higher than IMCV's 9.96% return.

EQRR

• 1D: -0.58%
• 1M: 8.10%
• YTD: 27.33%
• 6M: 27.15%
• 1Y: 41.70%
• 3Y*: 22.28%
• 5Y*: 12.33%
• 10Y*: —

IMCV

• 1D: -0.21%
• 1M: 2.12%
• YTD: 9.96%
• 6M: 11.32%
• 1Y: 23.41%
• 3Y*: 16.66%
• 5Y*: 8.69%
• 10Y*: 10.40%

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

EQRR vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	27.33%	15.49%	7.69%	9.19%	2.20%	36.11%	-10.14%	19.57%	-18.60%	15.64%
IMCV iShares Morningstar Mid-Cap ETF	9.96%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-10.93%	6.96%

Correlation

The correlation between EQRR and IMCV is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017	0.73

The correlation between EQRR and IMCV has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

EQRR vs. IMCV - Sectors Allocation Comparison

Sectors	EQRR	IMCV
Technology	32.1%	9.1%
Energy	26.8%	12.5%
Financial Services	20.5%	15.6%
Communication Services	11.7%	2.5%
Consumer Cyclical	4.8%	8.7%
Industrials	4.2%	12.1%
Basic Materials	-	6.5%
Consumer Defensive	-	8.9%
Healthcare	-	8.5%
Real Estate	-	5.6%
Utilities	-	10.0%

Return for Risk

EQRR vs. IMCV — Risk / Return Rank

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

EQRR

EQRR Risk / Return Rank: 91
EQRR Sharpe Ratio Rank: 90
EQRR Sortino Ratio Rank: 89
EQRR Omega Ratio Rank: 88
EQRR Calmar Ratio Rank: 95
EQRR Martin Ratio Rank: 95

IMCV

IMCV Risk / Return Rank: 63
IMCV Sharpe Ratio Rank: 59
IMCV Sortino Ratio Rank: 62
IMCV Omega Ratio Rank: 58
IMCV Calmar Ratio Rank: 68
IMCV Martin Ratio Rank: 69

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.

EQRR vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) 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.

	EQRR	IMCV	Difference
Sharpe ratio Return per unit of total volatility	3.11	2.02	+1.09
Sortino ratio Return per unit of downside risk	4.10	2.94	+1.16
Omega ratio Gain probability vs. loss probability	1.56	1.36	+0.20
Calmar ratio Return relative to maximum drawdown	8.47	3.41	+5.06
Martin ratio Return relative to average drawdown	31.54	12.72	+18.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQRR vs. IMCV - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 3.11, which is higher than the IMCV Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of EQRR 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.

Sharpe Ratios by Period

	EQRR	IMCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	2.02	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.53	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.47	-0.05

Drawdowns

EQRR vs. IMCV - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for EQRR and IMCV.

Drawdown Indicators

	EQRR	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-64.74%	+6.81%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-6.90%	+1.95%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	-18.63%	+0.88%
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	-19.87%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.33%	—
Current Drawdown Current decline from peak	-0.58%	-0.21%	-0.37%
Average Drawdown Average peak-to-trough decline	-10.08%	-8.42%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	1.85%	-0.52%

Volatility

EQRR vs. IMCV - Volatility Comparison

ProShares Equities for Rising Rates ETF (EQRR) has a higher volatility of 4.72% compared to iShares Morningstar Mid-Cap ETF (IMCV) at 2.56%. This indicates that EQRR'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

	EQRR	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	2.56%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	8.00%	+2.35%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	11.63%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	16.63%	+4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	19.66%	+5.21%

EQRR vs. IMCV - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is higher than IMCV's 0.06% expense ratio.

Dividends

EQRR vs. IMCV - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.20%, less than IMCV's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQRR ProShares Equities for Rising Rates ETF	1.20%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%	0.00%	0.00%
IMCV iShares Morningstar Mid-Cap ETF	1.94%	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 EQRR and IMCV in my portfolio?

EQRR and IMCV have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or IMCV?

EQRR has higher volatility (4.72%) compared to IMCV (2.56%). In terms of maximum drawdown, EQRR dropped -57.93% vs IMCV's -64.74%.

Which ETF is better, EQRR or IMCV?

On 5-year performance, EQRR leads with 12.33% vs 8.69% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQRR or IMCV?

Over the 5-year period, EQRR has performed better with a 12.33% return vs 8.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.35% for EQRR.

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

IMCV has the higher dividend yield at 1.94%, compared with 1.20% for EQRR.

What is the main difference between EQRR and IMCV?

EQRR tracks Nasdaq US Large Cap Equity Rising Rates Index, while IMCV tracks Morningstar US Mid Cap Broad Value Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.35% for EQRR and 0.06% for IMCV.

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (3.11 vs 2.02), 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.