ILCV vs. DFLV

Last updated Aug 6, 2026

ILCV (iShares Morningstar Value ETF) and DFLV (Dimensional US Large Cap Value ETF) are both Large Cap Value Equities funds. ILCV is passively managed, while DFLV is actively managed. Over the past 3 years, ILCV returned 18.85%/yr vs 18.72%/yr for DFLV. Their correlation of 0.92 means they have usually moved in the same direction. ILCV charges 0.04%/yr vs 0.22%/yr for DFLV.

Performance

ILCV vs. DFLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Value ETF (ILCV) and Dimensional US Large Cap Value ETF (DFLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILCV achieves a 14.55% return, which is significantly lower than DFLV's 21.70% return.

ILCV

• 1D: -0.19%
• 1M: 3.58%
• 6M: 10.71%
• YTD: 14.55%
• 1Y: 30.45%
• 3Y*: 18.85%
• 5Y*: 12.66%
• 10Y*: 11.95%
• ALL TIME*: 8.81%

DFLV

• 1D: -0.13%
• 1M: 3.77%
• 6M: 13.78%
• YTD: 21.70%
• 1Y: 34.69%
• 3Y*: 18.72%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFLV Dimensional US Large Cap Value ETF	$28.52M	$29.26M	$30.59M
ILCV iShares Morningstar Value ETF	$1.88M	$2.23M	$2.51M

ILCV vs. DFLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ILCV iShares Morningstar Value ETF	14.55%	18.79%	17.03%	14.43%	-1.18%
DFLV Dimensional US Large Cap Value ETF	21.70%	15.90%	12.88%	12.31%	-0.94%

Correlation

The correlation between ILCV and DFLV is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (All Time) Calculated using the full available price history since Dec 7, 2022	0.92

The correlation between ILCV and DFLV shifts across timeframes, from 0.81 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

ILCV vs. DFLV - Sectors Allocation Comparison

Sectors	ILCV	DFLV
Technology	22.6%	11.4%
Financial Services	18.3%	22.2%
Healthcare	12.6%	14.5%
Communication Services	9.9%	4.7%
Consumer Cyclical	9.6%	7.4%
Consumer Defensive	7.3%	4.4%
Industrials	6.8%	13.5%
Energy	5.5%	14.4%
Utilities	3.4%	-
Basic Materials	2.1%	6.8%
Real Estate	1.9%	0.4%

Return for Risk

ILCV vs. DFLV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ILCV

ILCV Risk / Return Rank: 94
ILCV Sharpe Ratio Rank: 96
ILCV Sortino Ratio Rank: 95
ILCV Omega Ratio Rank: 95
ILCV Calmar Ratio Rank: 92
ILCV Martin Ratio Rank: 94

DFLV

DFLV Risk / Return Rank: 95
DFLV Sharpe Ratio Rank: 96
DFLV Sortino Ratio Rank: 95
DFLV Omega Ratio Rank: 95
DFLV Calmar Ratio Rank: 96
DFLV Martin Ratio Rank: 96

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.

ILCV vs. DFLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and Dimensional US Large Cap Value ETF (DFLV). 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.

	ILCV	DFLV	Difference
Sharpe ratio: Return per unit of total volatility	3.06	3.12	-0.06
Sortino ratio: Return per unit of downside risk	4.31	4.32	0.00
Omega ratio: Gain probability vs. loss probability	1.56	1.57	-0.01
Calmar ratio: Return relative to maximum drawdown	4.67	6.36	-1.69
Martin ratio: Return relative to average drawdown	19.55	23.54	-3.99

ILCV vs. DFLV - Sharpe Ratio Comparison

The current ILCV Sharpe Ratio is 3.06, which is comparable to the DFLV Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of ILCV and DFLV, 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

ILCV vs. DFLV - Drawdown Comparison

The maximum ILCV drawdown since its inception was -58.63%, which is greater than DFLV's maximum drawdown of -16.80%. Use the drawdown chart below to compare losses from any high point for ILCV and DFLV.

Drawdown Indicators

	ILCV	DFLV	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-16.80%	-41.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-5.48%	-1.07%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-16.80%	+1.85%
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	-0.19%	-0.13%	-0.06%
Average Drawdown Average peak-to-trough decline	-9.25%	-2.95%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.48%	+0.08%

Volatility

ILCV vs. DFLV - Volatility Comparison

iShares Morningstar Value ETF (ILCV) has a higher volatility of 3.06% compared to Dimensional US Large Cap Value ETF (DFLV) at 2.53%. This indicates that ILCV's price experiences larger fluctuations and is considered to be riskier than DFLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCV	DFLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.53%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	7.43%	8.02%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	9.98%	11.16%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.17%	14.06%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	14.06%	+2.57%

ILCV vs. DFLV - Expense Ratio Comparison

ILCV has a 0.04% expense ratio, which is lower than DFLV's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ILCV vs. DFLV - Dividend Comparison

ILCV's dividend yield for the trailing twelve months is around 1.53%, more than DFLV's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFLV Dimensional US Large Cap Value ETF	1.34%	1.61%	1.65%	1.72%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ILCV iShares Morningstar Value ETF	1.53%	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

Can I hold both ILCV and DFLV in my portfolio?

ILCV and DFLV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILCV or DFLV?

ILCV has higher volatility (3.06%) compared to DFLV (2.53%). In terms of maximum drawdown, ILCV dropped -58.63% vs DFLV's -16.80%.

Which ETF is better, ILCV or DFLV?

On 3-year performance, ILCV leads with 18.85% vs 18.72% for DFLV. On fees, ILCV is cheaper at 0.04% per year. On volatility, DFLV has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCV or DFLV?

Over the 3-year period, ILCV has performed better with a 18.85% return vs 18.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCV or DFLV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.22% for DFLV.

Which ETF pays a higher dividend yield, ILCV or DFLV?

ILCV has the higher dividend yield at 1.53%, compared with 1.34% for DFLV.

What is the main difference between ILCV and DFLV?

They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.04% for ILCV and 0.22% for DFLV.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (3.12 vs 3.06), 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.