ILCV vs. EDIV

Last updated Jul 21, 2026

ILCV (iShares Morningstar Value ETF) and EDIV (SPDR S&P Emerging Markets Dividend ETF) are both exchange-traded funds - ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index, while EDIV is a Emerging Markets Equities fund tracking the S&P Emerging Markets Dividend Opportunities Index. Both are passively managed. Over the past 10 years, ILCV returned 11.48%/yr vs 8.40%/yr for EDIV. A 0.61 correlation means they provide meaningful diversification when combined. ILCV charges 0.04%/yr vs 0.49%/yr for EDIV.

Performance

ILCV vs. EDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Value ETF (ILCV) and SPDR S&P Emerging Markets Dividend ETF (EDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILCV achieves a 10.57% return, which is significantly higher than EDIV's 9.11% return. Over the past 10 years, ILCV has outperformed EDIV with an annualized return of 11.48%, while EDIV has yielded a comparatively lower 8.40% annualized return.

ILCV

• 1D: -0.36%
• 1M: 2.42%
• 6M: 8.38%
• YTD: 10.57%
• 1Y: 25.05%
• 3Y*: 17.20%
• 5Y*: 12.21%
• 10Y*: 11.48%
• ALL TIME*: 8.66%

EDIV

• 1D: -0.52%
• 1M: 1.79%
• 6M: 6.50%
• YTD: 9.11%
• 1Y: 13.09%
• 3Y*: 16.35%
• 5Y*: 12.20%
• 10Y*: 8.40%
• ALL TIME*: 3.21%

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

ILCV vs. EDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCV iShares Morningstar Value ETF	10.57%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	25.19%	-6.24%	15.00%
EDIV SPDR S&P Emerging Markets Dividend ETF	9.11%	16.45%	12.75%	41.91%	-15.31%	11.21%	-9.95%	11.80%	-6.16%	28.20%

Correlation

The correlation between ILCV and EDIV is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011	0.61

The correlation between ILCV and EDIV shifts across timeframes, from 0.50 (3 years) to 0.61 (all time), reflecting how their relationship changes across market environments.

ILCV vs. EDIV - Sectors Allocation Comparison

Sectors	ILCV	EDIV
Technology	22.6%	9.7%
Financial Services	18.3%	30.3%
Healthcare	12.6%	1.4%
Communication Services	9.9%	14.0%
Consumer Cyclical	9.6%	11.9%
Consumer Defensive	7.3%	13.2%
Industrials	6.8%	9.2%
Energy	5.5%	3.2%
Utilities	3.4%	2.4%
Basic Materials	2.1%	1.5%
Real Estate	1.9%	3.3%

Return for Risk

ILCV vs. EDIV — Risk / Return Rank

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

ILCV

ILCV Risk / Return Rank: 91
ILCV Sharpe Ratio Rank: 92
ILCV Sortino Ratio Rank: 92
ILCV Omega Ratio Rank: 91
ILCV Calmar Ratio Rank: 88
ILCV Martin Ratio Rank: 91

EDIV

EDIV Risk / Return Rank: 36
EDIV Sharpe Ratio Rank: 38
EDIV Sortino Ratio Rank: 37
EDIV Omega Ratio Rank: 37
EDIV Calmar Ratio Rank: 33
EDIV Martin Ratio Rank: 33

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.

ILCV vs. EDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and SPDR S&P Emerging Markets Dividend ETF (EDIV). 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	EDIV	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.03	+1.49
Sortino ratio: Return per unit of downside risk	3.56	1.52	+2.04
Omega ratio: Gain probability vs. loss probability	1.46	1.19	+0.26
Calmar ratio: Return relative to maximum drawdown	3.84	1.27	+2.57
Martin ratio: Return relative to average drawdown	15.71	3.70	+12.01

ILCV vs. EDIV - Sharpe Ratio Comparison

The current ILCV Sharpe Ratio is 2.52, which is higher than the EDIV Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of ILCV and EDIV, 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. EDIV - Drawdown Comparison

The maximum ILCV drawdown since its inception was -58.63%, which is greater than EDIV's maximum drawdown of -53.36%. Use the drawdown chart below to compare losses from any high point for ILCV and EDIV.

Drawdown Indicators

	ILCV	EDIV	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-53.36%	-5.27%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-10.36%	+3.81%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-13.84%	-1.11%
Max Drawdown (5Y) Largest decline over 5 years	-18.58%	-28.32%	+9.74%
Max Drawdown (10Y) Largest decline over 10 years	-35.53%	-40.76%	+5.23%
Current Drawdown Current decline from peak	-1.01%	-1.64%	+0.63%
Average Drawdown Average peak-to-trough decline	-9.27%	-19.23%	+9.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	3.54%	-1.94%

Volatility

ILCV vs. EDIV - Volatility Comparison

The current volatility for iShares Morningstar Value ETF (ILCV) is 2.36%, while SPDR S&P Emerging Markets Dividend ETF (EDIV) has a volatility of 3.83%. This indicates that ILCV experiences smaller price fluctuations and is considered to be less risky than EDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCV	EDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	3.83%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	11.05%	-3.71%
Volatility (1Y) Calculated over the trailing 1-year period	10.00%	12.80%	-2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	13.94%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	17.30%	-0.67%

ILCV vs. EDIV - Expense Ratio Comparison

ILCV has a 0.04% expense ratio, which is lower than EDIV's 0.49% expense ratio.

Dividends

ILCV vs. EDIV - Dividend Comparison

ILCV's dividend yield for the trailing twelve months is around 1.58%, less than EDIV's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDIV SPDR S&P Emerging Markets Dividend ETF	4.16%	4.69%	3.94%	4.26%	4.94%	3.84%	3.52%	3.83%	3.41%	2.99%	4.94%	5.33%
ILCV iShares Morningstar Value ETF	1.58%	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 EDIV in my portfolio?

ILCV and EDIV have a correlation of 0.58, 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 EDIV?

EDIV has higher volatility (3.83%) compared to ILCV (2.36%). In terms of maximum drawdown, ILCV dropped -58.63% vs EDIV's -53.36%.

Which ETF is better, ILCV or EDIV?

On 10-year performance, ILCV leads with 11.48% vs 8.40% for EDIV. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCV or EDIV?

Over the 10-year period, ILCV has performed better with a 11.48% return vs 8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCV or EDIV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.49% for EDIV.

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

EDIV has the higher dividend yield at 4.16%, compared with 1.58% for ILCV.

What is the main difference between ILCV and EDIV?

ILCV is categorized as Large Cap Value Equities, while EDIV is Emerging Markets Equities. ILCV tracks Morningstar US Large-Mid Cap Broad Value Index, while EDIV tracks S&P Emerging Markets Dividend Opportunities Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.04% for ILCV and 0.49% for EDIV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.52 vs 1.03), 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.