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GMOV vs. ILCV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GMOV vs. ILCV

Last updated Jun 4, 2026

GMOV (GMO U.S. Value ETF) and ILCV (iShares Morningstar Value ETF) are both Large Cap Value Equities funds - GMOV tracks the MSCI USA Value (Gross) while ILCV tracks the Morningstar US Large-Mid Cap Broad Value Index. Both are passively managed. Over the past year, GMOV returned 27.00% vs 26.58% for ILCV. Their correlation of 0.90 suggests significant overlap in exposure. GMOV charges 0.50%/yr vs 0.04%/yr for ILCV.

Performance

GMOV vs. ILCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO U.S. Value ETF (GMOV) and iShares Morningstar Value ETF (ILCV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GMOV achieves a 10.24% return, which is significantly higher than ILCV's 7.75% return.

GMOV

1D
-0.59%
1M
2.52%
YTD
10.24%
6M
11.68%
1Y
27.00%
3Y*
—
5Y*
—
10Y*
—

ILCV

1D
-0.44%
1M
2.76%
YTD
7.75%
6M
7.41%
1Y
26.58%
3Y*
18.61%
5Y*
11.42%
10Y*
11.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GMOV vs. ILCV - Yearly Performance Comparison

2026 (YTD)20252024
GMOV
GMO U.S. Value ETF		10.24%14.81%-1.27%
ILCV
iShares Morningstar Value ETF		7.75%18.79%-0.75%

Correlation

The correlation between GMOV and ILCV is 0.86, 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 (All Time)
Calculated using the full available price history since Oct 30, 2024

0.90

The correlation between GMOV and ILCV has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

GMO U.S. Value ETF

iShares Morningstar Value ETF

Often compared with GMOV:
GMOV vs. QLTIGMOV vs. DHLXGMOV vs. ABEQGMOV vs. DIVZGMOV vs. ZVC.TOGMOV vs. CSTKGMOV vs. ELCV
Often compared with ILCV:
ILCV vs. VTVILCV vs. AVLVILCV vs. FIOOXILCV vs. SCHDILCV vs. HDVILCV vs. MGVILCV vs. SPY

Return for Risk

GMOV vs. ILCV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GMOV
GMOV Risk / Return Rank: 7979
Overall Rank
GMOV Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
GMOV Sortino Ratio Rank: 8484
Sortino Ratio Rank
GMOV Omega Ratio Rank: 7575
Omega Ratio Rank
GMOV Calmar Ratio Rank: 8383
Calmar Ratio Rank
GMOV Martin Ratio Rank: 7878
Martin Ratio Rank
ILCV
ILCV Risk / Return Rank: 8282
Overall Rank
ILCV Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
ILCV Sortino Ratio Rank: 8484
Sortino Ratio Rank
ILCV Omega Ratio Rank: 8181
Omega Ratio Rank
ILCV Calmar Ratio Rank: 7979
Calmar Ratio Rank
ILCV Martin Ratio Rank: 8383
Martin Ratio Rank
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.

GMOV vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO U.S. Value ETF (GMOV) 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.

GMOVILCVDifference
Sharpe ratioReturn per unit of total volatility
2.49
2.72

-0.23

Sortino ratioReturn per unit of downside risk
3.72
3.85

-0.13

Omega ratioGain probability vs. loss probability

1.44

1.50

-0.05

Calmar ratioReturn relative to maximum drawdown

4.46

4.08

+0.39

Martin ratioReturn relative to average drawdown

15.05

16.87

-1.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMOV vs. ILCV - Sharpe Ratio Comparison

The current GMOV Sharpe Ratio is 2.49, which is comparable to the ILCV Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of GMOV 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.

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Sharpe Ratios by Period

GMOVILCVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

2.72

-0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.81

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.70

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.02

0.46

+0.55

Drawdowns

GMOV vs. ILCV - Drawdown Comparison

The maximum GMOV drawdown since its inception was -16.71%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for GMOV and ILCV.

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Drawdown Indicators

GMOVILCVDifference

Max Drawdown

Largest peak-to-trough decline

-16.71%

-58.63%

+41.92%

Max Drawdown (1Y)

Largest decline over 1 year

-6.08%

-6.55%

+0.47%

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.95%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.58%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.53%

—

Current Drawdown

Current decline from peak

-0.76%

-0.60%

-0.16%

Average Drawdown

Average peak-to-trough decline

-2.84%

-9.32%

+6.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.80%

1.58%

+0.22%

Volatility

GMOV vs. ILCV - Volatility Comparison

GMO U.S. Value ETF (GMOV) has a higher volatility of 2.18% compared to iShares Morningstar Value ETF (ILCV) at 2.01%. This indicates that GMOV's price experiences larger fluctuations and is considered to be riskier than ILCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GMOVILCVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.18%

2.01%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

7.26%

6.97%

+0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

10.90%

9.82%

+1.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.94%

14.21%

+0.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.94%

16.66%

-1.72%

GMOV vs. ILCV - Expense Ratio Comparison

GMOV has a 0.50% expense ratio, which is higher than ILCV's 0.04% expense ratio.

Dividends

GMOV vs. ILCV - Dividend Comparison

GMOV's dividend yield for the trailing twelve months is around 2.02%, more than ILCV's 1.63% yield.

PositionTTM20252024202320222021202020192018201720162015
GMOV
GMO U.S. Value ETF		2.02%1.98%0.30%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ILCV
iShares Morningstar Value ETF		1.63%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

GMOV and ILCV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GMOV has higher volatility (2.18%) compared to ILCV (2.01%). In terms of maximum drawdown, GMOV dropped -16.71% vs ILCV's -58.63%.

On 1-year performance, GMOV leads with 27.00% vs 26.58% for ILCV. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GMOV has performed better with a 27.00% return vs 26.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ILCV is cheaper with a 0.04% expense ratio, compared with 0.50% for GMOV.

GMOV has the higher dividend yield at 2.02%, compared with 1.63% for ILCV.

GMOV tracks MSCI USA Value (Gross), while ILCV tracks Morningstar US Large-Mid Cap Broad Value Index. They also come from different issuers: GMO and iShares. Their fees differ too: 0.50% for GMOV and 0.04% for ILCV.

ILCV currently has the higher Sharpe Ratio (2.72 vs 2.49), 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.

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