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ILCG vs. MFUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ILCG vs. MFUS

Last updated Aug 4, 2026
Documentation

ILCG (iShares Morningstar Growth ETF) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, ILCG returned 11.74%/yr vs 13.05%/yr for MFUS. Their 0.75 correlation means they have sometimes moved together and sometimes differently. ILCG charges 0.04%/yr vs 0.30%/yr for MFUS.

Performance

ILCG vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Growth ETF (ILCG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ILCG achieves a 9.70% return, which is significantly lower than MFUS's 16.56% return.

ILCG

1D
1.92%
1M
-0.14%
6M
8.78%
YTD
9.70%
1Y
16.20%
3Y*
23.09%
5Y*
11.74%
10Y*
17.23%
ALL TIME*
11.61%

MFUS

1D
0.44%
1M
-0.34%
6M
10.78%
YTD
16.56%
1Y
25.93%
3Y*
19.97%
5Y*
13.05%
10Y*
—
ALL TIME*
13.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ILCG

iShares Morningstar Growth ETF
$5.71M$6.91M$9.84M

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
$1.69M$1.08M$961.02K

ILCG vs. MFUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ILCG
iShares Morningstar Growth ETF		9.70%16.71%32.82%40.41%-31.75%24.33%38.56%33.22%2.06%8.54%
MFUS
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF		16.56%16.02%20.17%12.19%-5.82%24.10%10.64%26.17%-7.30%11.20%

Correlation

The correlation between ILCG and MFUS is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.68

Correlation (3Y)
Balances recent behavior with more history.

0.72

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.74

Correlation (All Time)
Calculated using the full available price history since Sep 6, 2017

0.75

The correlation between ILCG and MFUS has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

ILCG vs. MFUS - Sectors Allocation Comparison

Sectors
ILCG
MFUS

Technology

54.1%
25.8%

Industrials

10.9%
12.5%

Communication Services

9.7%
4.6%

Consumer Cyclical

9.2%
9.3%

Healthcare

5.3%
14.7%

Financial Services

4.7%
11.3%

Consumer Defensive

1.6%
9.3%

Real Estate

1.5%
2.0%

Basic Materials

1.4%
2.5%

Utilities

0.9%
1.3%

Energy

0.7%
6.6%

Technology

ILCG
54.1%
MFUS
25.8%

Industrials

ILCG
10.9%
MFUS
12.5%

Communication Services

ILCG
9.7%
MFUS
4.6%

Consumer Cyclical

ILCG
9.2%
MFUS
9.3%

Healthcare

ILCG
5.3%
MFUS
14.7%

Financial Services

ILCG
4.7%
MFUS
11.3%

Consumer Defensive

ILCG
1.6%
MFUS
9.3%

Real Estate

ILCG
1.5%
MFUS
2.0%

Basic Materials

ILCG
1.4%
MFUS
2.5%

Utilities

ILCG
0.9%
MFUS
1.3%

Energy

ILCG
0.7%
MFUS
6.6%

Compare stocks, funds, or ETFs

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

iShares Morningstar Growth ETF

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

Often compared with ILCG:
ILCG vs. SCHGILCG vs. IUSGILCG vs. VUGILCG vs. ILCBILCG vs. QQQILCG vs. VOOILCG vs. MGK
Often compared with MFUS:
MFUS vs. RWLMFUS vs. FNDXMFUS vs. VOOVMFUS vs. AVUSMFUS vs. SPYMFUS vs. AVLVMFUS vs. DGRW

Return for Risk

ILCG vs. MFUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ILCG
ILCG Risk / Return Rank: 3333
Overall Rank
ILCG Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
ILCG Sortino Ratio Rank: 3434
Sortino Ratio Rank
ILCG Omega Ratio Rank: 3333
Omega Ratio Rank
ILCG Calmar Ratio Rank: 3131
Calmar Ratio Rank
ILCG Martin Ratio Rank: 3434
Martin Ratio Rank
MFUS
MFUS Risk / Return Rank: 9090
Overall Rank
MFUS Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
MFUS Sortino Ratio Rank: 9090
Sortino Ratio Rank
MFUS Omega Ratio Rank: 8989
Omega Ratio Rank
MFUS Calmar Ratio Rank: 9191
Calmar Ratio Rank
MFUS Martin Ratio Rank: 9191
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ILCG vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Growth ETF (ILCG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

ILCGMFUSDifference
Sharpe ratioReturn per unit of total volatility
0.87
2.29

-1.42

Sortino ratioReturn per unit of downside risk
1.28
3.28

-2.00

Omega ratioGain probability vs. loss probability

1.16

1.41

-0.25

Calmar ratioReturn relative to maximum drawdown

1.04

4.08

-3.04

Martin ratioReturn relative to average drawdown

3.30

15.40

-12.10

ILCG vs. MFUS - Sharpe Ratio Comparison

The current ILCG Sharpe Ratio is 0.87, which is lower than the MFUS Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of ILCG and MFUS, 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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Drawdowns

ILCG vs. MFUS - Drawdown Comparison

The maximum ILCG drawdown since its inception was -52.98%, which is greater than MFUS's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for ILCG and MFUS.

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Drawdown Indicators

ILCGMFUSDifference

Max Drawdown

Largest peak-to-trough decline

-52.98%

-35.21%

-17.77%

Max Drawdown (1Y)

Largest decline over 1 year

-15.65%

-6.39%

-9.26%

Max Drawdown (3Y)

Largest decline over 3 years

-23.10%

-15.39%

-7.71%

Max Drawdown (5Y)

Largest decline over 5 years

-35.38%

-18.22%

-17.16%

Max Drawdown (10Y)

Largest decline over 10 years

-35.38%

—

—

Current Drawdown

Current decline from peak

-5.15%

-2.18%

-2.97%

Average Drawdown

Average peak-to-trough decline

-8.20%

-3.95%

-4.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

1.69%

+3.23%

Volatility

ILCG vs. MFUS - Volatility Comparison

iShares Morningstar Growth ETF (ILCG) has a higher volatility of 6.33% compared to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) at 2.92%. This indicates that ILCG's price experiences larger fluctuations and is considered to be riskier than MFUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ILCGMFUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.33%

2.92%

+3.41%

Volatility (6M)

Calculated over the trailing 6-month period

15.61%

9.12%

+6.49%

Volatility (1Y)

Calculated over the trailing 1-year period

18.74%

11.41%

+7.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.39%

15.02%

+7.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.71%

17.28%

+4.43%

ILCG vs. MFUS - Expense Ratio Comparison

ILCG has a 0.04% expense ratio, which is lower than MFUS's 0.30% expense ratio.

Dividends

ILCG vs. MFUS - Dividend Comparison

ILCG's dividend yield for the trailing twelve months is around 0.42%, less than MFUS's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
ILCG
iShares Morningstar Growth ETF		0.42%0.47%0.50%0.69%0.75%0.34%0.28%0.54%0.81%0.89%0.95%0.99%
MFUS
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF		1.37%1.54%1.45%1.96%2.07%1.35%1.72%1.89%1.69%1.01%0.00%0.00%

Frequently Asked Questions

ILCG and MFUS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ILCG has higher volatility (6.33%) compared to MFUS (2.92%). In terms of maximum drawdown, ILCG dropped -52.98% vs MFUS's -35.21%.

On 5-year performance, MFUS leads with 13.05% vs 11.74% for ILCG. On fees, ILCG is cheaper at 0.04% per year. On volatility, MFUS has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MFUS has performed better with a 13.05% return vs 11.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ILCG is cheaper with a 0.04% expense ratio, compared with 0.30% for MFUS.

MFUS has the higher dividend yield at 1.37%, compared with 0.42% for ILCG.

ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross, while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.04% for ILCG and 0.30% for MFUS.

MFUS currently has the higher Sharpe Ratio (2.29 vs 0.87), 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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