ILCB vs. RPG

Last updated Jun 23, 2026

ILCB (iShares Morningstar U.S. Equity ETF) and RPG (Invesco S&P 500 Pure Growth ETF) are both Large Cap Growth Equities funds - ILCB tracks the Morningstar US Large-Mid Cap Index while RPG tracks the S&P 500/Citigroup Pure Growth Index. Both are passively managed. Over the past 10 years, ILCB returned 15.13%/yr vs 15.68%/yr for RPG. Their correlation of 0.86 suggests significant overlap in exposure. ILCB charges 0.03%/yr vs 0.35%/yr for RPG.

Performance

ILCB vs. RPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar U.S. Equity ETF (ILCB) and Invesco S&P 500 Pure Growth ETF (RPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILCB achieves a 10.02% return, which is significantly lower than RPG's 36.60% return. Both investments have delivered pretty close results over the past 10 years, with ILCB having a 15.13% annualized return and RPG not far ahead at 15.68%.

ILCB

• 1D: -0.40%
• 1M: 0.36%
• YTD: 10.02%
• 6M: 9.47%
• 1Y: 26.73%
• 3Y*: 21.60%
• 5Y*: 13.05%
• 10Y*: 15.13%

RPG

• 1D: 1.57%
• 1M: 10.57%
• YTD: 36.60%
• 6M: 33.46%
• 1Y: 47.03%
• 3Y*: 29.74%
• 5Y*: 12.84%
• 10Y*: 15.68%

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

ILCB vs. RPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCB iShares Morningstar U.S. Equity ETF	10.02%	17.70%	24.96%	26.91%	-19.48%	24.07%	19.40%	32.68%	-8.51%	22.09%
RPG Invesco S&P 500 Pure Growth ETF	36.60%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%

Correlation

The correlation between ILCB and RPG is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 7, 2006	0.86

The correlation between ILCB and RPG has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

ILCB vs. RPG - Sectors Allocation Comparison

Sectors	ILCB	RPG
Technology	38.9%	46.9%
Financial Services	11.4%	5.3%
Communication Services	9.9%	5.4%
Consumer Cyclical	9.3%	14.7%
Industrials	8.4%	14.0%
Healthcare	8.4%	6.4%
Consumer Defensive	4.5%	1.1%
Energy	3.1%	1.6%
Utilities	2.6%	2.4%
Basic Materials	1.8%	1.2%
Real Estate	1.7%	1.0%

Return for Risk

ILCB vs. RPG — Risk / Return Rank

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

ILCB

ILCB Risk / Return Rank: 67
ILCB Sharpe Ratio Rank: 68
ILCB Sortino Ratio Rank: 65
ILCB Omega Ratio Rank: 67
ILCB Calmar Ratio Rank: 61
ILCB Martin Ratio Rank: 72

RPG

RPG Risk / Return Rank: 73
RPG Sharpe Ratio Rank: 70
RPG Sortino Ratio Rank: 66
RPG Omega Ratio Rank: 65
RPG Calmar Ratio Rank: 83
RPG Martin Ratio Rank: 83

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.

ILCB vs. RPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) and Invesco S&P 500 Pure Growth ETF (RPG). 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.

	ILCB	RPG	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.19	-0.06
Sortino ratio: Return per unit of downside risk	2.89	2.91	-0.02
Omega ratio: Gain probability vs. loss probability	1.38	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	2.95	4.27	-1.31
Martin ratio: Return relative to average drawdown	13.14	16.15	-3.01

ILCB vs. RPG - Sharpe Ratio Comparison

The current ILCB Sharpe Ratio is 2.13, which is comparable to the RPG Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of ILCB and RPG, 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

ILCB vs. RPG - Drawdown Comparison

The maximum ILCB drawdown since its inception was -51.53%, roughly equal to the maximum RPG drawdown of -53.27%. Use the drawdown chart below to compare losses from any high point for ILCB and RPG.

Drawdown Indicators

	ILCB	RPG	Difference
Max Drawdown Largest peak-to-trough decline	-51.53%	-53.27%	+1.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-11.08%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-24.75%	+5.70%
Max Drawdown (5Y) Largest decline over 5 years	-25.47%	-35.59%	+10.12%
Max Drawdown (10Y) Largest decline over 10 years	-35.30%	-36.58%	+1.28%
Current Drawdown Current decline from peak	-1.66%	0.00%	-1.66%
Average Drawdown Average peak-to-trough decline	-6.23%	-8.83%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.92%	-0.88%

Volatility

ILCB vs. RPG - Volatility Comparison

The current volatility for iShares Morningstar U.S. Equity ETF (ILCB) is 4.62%, while Invesco S&P 500 Pure Growth ETF (RPG) has a volatility of 9.89%. This indicates that ILCB experiences smaller price fluctuations and is considered to be less risky than RPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCB	RPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	9.89%	-5.27%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	18.39%	-8.49%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	21.61%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	23.77%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	22.88%	-4.67%

ILCB vs. RPG - Expense Ratio Comparison

ILCB has a 0.03% expense ratio, which is lower than RPG's 0.35% expense ratio.

Dividends

ILCB vs. RPG - Dividend Comparison

ILCB's dividend yield for the trailing twelve months is around 0.98%, more than RPG's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCB iShares Morningstar U.S. Equity ETF	0.98%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%
RPG Invesco S&P 500 Pure Growth ETF	0.19%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%

Frequently Asked Questions

Can I hold both ILCB and RPG in my portfolio?

ILCB and RPG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILCB or RPG?

RPG has higher volatility (9.89%) compared to ILCB (4.62%). In terms of maximum drawdown, ILCB dropped -51.53% vs RPG's -53.27%.

Which ETF is better, ILCB or RPG?

On 10-year performance, RPG leads with 15.68% vs 15.13% for ILCB. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 4.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCB or RPG?

Over the 10-year period, RPG has performed better with a 15.68% return vs 15.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCB or RPG?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.35% for RPG.

Which ETF pays a higher dividend yield, ILCB or RPG?

ILCB has the higher dividend yield at 0.98%, compared with 0.19% for RPG.

What is the main difference between ILCB and RPG?

ILCB tracks Morningstar US Large-Mid Cap Index, while RPG tracks S&P 500/Citigroup Pure Growth Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.03% for ILCB and 0.35% for RPG.

Which has better risk-adjusted returns?

RPG currently has the higher Sharpe Ratio (2.19 vs 2.13), 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.