IJJ vs. IMCV

Last updated Jun 26, 2026

IJJ (iShares S&P Mid-Cap 400 Value ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds from iShares - IJJ tracks the S&P MidCap 400 Value Index while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Over the past 10 years, IJJ returned 11.30%/yr vs 11.28%/yr for IMCV. Their correlation of 0.93 suggests significant overlap in exposure. IJJ charges 0.18%/yr vs 0.06%/yr for IMCV.

Performance

IJJ vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P Mid-Cap 400 Value ETF (IJJ) and iShares Morningstar Mid-Cap ETF (IMCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IJJ having a 12.50% return and IMCV slightly lower at 12.06%. Both investments have delivered pretty close results over the past 10 years, with IJJ having a 11.30% annualized return and IMCV not far behind at 11.28%.

IJJ

• 1D: 0.90%
• 1M: 3.60%
• YTD: 12.50%
• 6M: 10.69%
• 1Y: 22.58%
• 3Y*: 14.51%
• 5Y*: 8.54%
• 10Y*: 11.30%

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)

IJJ vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJJ iShares S&P Mid-Cap 400 Value ETF	12.50%	7.27%	11.63%	15.24%	-7.11%	30.45%	3.56%	25.66%	-12.06%	12.04%
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 IJJ and IMCV is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004	0.93

The correlation between IJJ and IMCV has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

IJJ vs. IMCV - Sectors Allocation Comparison

Sectors	IJJ	IMCV
Financial Services	21.4%	15.2%
Industrials	18.7%	11.8%
Consumer Cyclical	13.9%	9.1%
Technology	10.2%	10.3%
Real Estate	9.6%	5.5%
Energy	6.8%	11.9%
Basic Materials	6.3%	6.4%
Consumer Defensive	4.9%	9.0%
Utilities	4.0%	9.6%
Healthcare	3.8%	8.7%
Communication Services	0.5%	2.5%

Return for Risk

IJJ vs. IMCV — Risk / Return Rank

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

IJJ

IJJ Risk / Return Rank: 49
IJJ Sharpe Ratio Rank: 48
IJJ Sortino Ratio Rank: 52
IJJ Omega Ratio Rank: 46
IJJ Calmar Ratio Rank: 50
IJJ Martin Ratio Rank: 50

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.

IJJ vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Mid-Cap 400 Value ETF (IJJ) 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.

	IJJ	IMCV	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.13	-0.66
Sortino ratio: Return per unit of downside risk	2.22	3.07	-0.85
Omega ratio: Gain probability vs. loss probability	1.26	1.38	-0.12
Calmar ratio: Return relative to maximum drawdown	2.14	3.62	-1.47
Martin ratio: Return relative to average drawdown	7.40	13.43	-6.03

IJJ vs. IMCV - Sharpe Ratio Comparison

The current IJJ Sharpe Ratio is 1.47, which is lower than the IMCV Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of IJJ 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

IJJ vs. IMCV - Drawdown Comparison

The maximum IJJ drawdown since its inception was -58.00%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for IJJ and IMCV.

Drawdown Indicators

	IJJ	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-58.00%	-64.74%	+6.74%
Max Drawdown (1Y) Largest decline over 1 year	-10.59%	-6.90%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-22.68%	-18.63%	-4.05%
Max Drawdown (5Y) Largest decline over 5 years	-22.68%	-19.87%	-2.81%
Max Drawdown (10Y) Largest decline over 10 years	-46.11%	-46.33%	+0.22%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.92%	-8.39%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	1.85%	+1.21%

Volatility

IJJ vs. IMCV - Volatility Comparison

iShares S&P Mid-Cap 400 Value ETF (IJJ) has a higher volatility of 3.94% compared to iShares Morningstar Mid-Cap ETF (IMCV) at 3.03%. This indicates that IJJ'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

	IJJ	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.03%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	8.11%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	11.74%	+3.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.52%	16.62%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.01%	19.61%	+2.40%

IJJ vs. IMCV - Expense Ratio Comparison

IJJ has a 0.18% 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

IJJ vs. IMCV - Dividend Comparison

IJJ's dividend yield for the trailing twelve months is around 1.59%, less than IMCV's 1.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJJ iShares S&P Mid-Cap 400 Value ETF	1.59%	1.79%	1.81%	1.68%	1.97%	1.62%	1.78%	1.70%	2.01%	1.52%	1.67%	1.83%
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 IJJ and IMCV in my portfolio?

With a correlation of 0.91, IJJ and IMCV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IJJ or IMCV?

IJJ has higher volatility (3.94%) compared to IMCV (3.03%). In terms of maximum drawdown, IJJ dropped -58.00% vs IMCV's -64.74%.

Which ETF is better, IJJ or IMCV?

On 10-year performance, IJJ leads with 11.30% vs 11.28% for IMCV. 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, IJJ or IMCV?

Over the 10-year period, IJJ has performed better with a 11.30% return vs 11.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJJ or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.18% for IJJ.

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

IMCV has the higher dividend yield at 1.89%, compared with 1.59% for IJJ.

What is the main difference between IJJ and IMCV?

IJJ tracks S&P MidCap 400 Value Index, while IMCV tracks Morningstar US Mid Cap Broad Value Index. Their fees differ too: 0.18% for IJJ and 0.06% for IMCV.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.13 vs 1.47), 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.