ILCV vs. VMRXX
ILCV (iShares Morningstar Value ETF) and VMRXX (Vanguard Cash Reserves Federal Money Market Fund Admiral Shares) are both funds - ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index, while VMRXX is a Money Market fund actively managed by Vanguard. ILCV is passively managed, while VMRXX is actively managed. Over the past 5 years, ILCV returned 12.21%/yr vs 3.09%/yr for VMRXX. At a 0.06 correlation, their price movements are largely independent. ILCV charges 0.04%/yr vs 0.10%/yr for VMRXX.
Performance
ILCV vs. VMRXX - Performance Comparison
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Returns By Period
In the year-to-date period, ILCV achieves a 10.57% return, which is significantly higher than VMRXX's 1.80% 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%
VMRXX
- 1D
- 0.00%
- 1M
- 0.30%
- 6M
- 1.80%
- YTD
- 1.80%
- 1Y
- 3.91%
- 3Y*
- 4.39%
- 5Y*
- 3.09%
- 10Y*
- —
- ALL TIME*
- 3.00%
ILCV vs. VMRXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ILCV iShares Morningstar Value ETF | 10.57% | 18.79% | 17.03% | 14.43% | -7.02% | 8.74% |
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares | 1.80% | 4.25% | 4.84% | 4.65% | 0.00% | 0.01% |
Correlation
The correlation between ILCV and VMRXX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 25, 2021 | 0.06 |
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Return for Risk
ILCV vs. VMRXX — Risk / Return Rank
ILCV
VMRXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ILCV vs. VMRXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). 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 | VMRXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | — | — |
| Martin ratioReturn relative to average drawdown | 15.71 | — | — |
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Drawdowns
ILCV vs. VMRXX - Drawdown Comparison
The maximum ILCV drawdown since its inception was -58.63%, which is greater than VMRXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ILCV and VMRXX.
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Drawdown Indicators
| ILCV | VMRXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | 0.00% | -58.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | 0.00% | -6.55% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | 0.00% | -14.95% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | 0.00% | -18.58% |
Max Drawdown (10Y)Largest decline over 10 years | -35.53% | — | — |
Current DrawdownCurrent decline from peak | -1.01% | 0.00% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -9.27% | 0.00% | -9.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 0.00% | +1.60% |
Volatility
ILCV vs. VMRXX - Volatility Comparison
iShares Morningstar Value ETF (ILCV) has a higher volatility of 2.36% compared to Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) at 0.29%. This indicates that ILCV's price experiences larger fluctuations and is considered to be riskier than VMRXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ILCV | VMRXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 0.29% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 0.72% | +6.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 1.10% | +8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 1.09% | +13.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 1.07% | +15.56% |
ILCV vs. VMRXX - Expense Ratio Comparison
ILCV has a 0.04% expense ratio, which is lower than VMRXX's 0.10% 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. VMRXX - Dividend Comparison
ILCV's dividend yield for the trailing twelve months is around 1.58%, less than VMRXX's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VMRXX Vanguard Cash Reserves Federal Money Market Fund Admiral Shares | 3.83% | 4.15% | 4.71% | 4.54% | 0.00% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ILCV and VMRXX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCV has higher volatility (2.36%) compared to VMRXX (0.29%). In terms of maximum drawdown, ILCV dropped -58.63% vs VMRXX's 0.00%.
VMRXX currently has the higher Sharpe Ratio (3.67 vs 2.52), 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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