ILCV vs. VOOV

Last updated Jun 4, 2026

ILCV (iShares Morningstar Value ETF) and VOOV (Vanguard S&P 500 Value ETF) are both Large Cap Value Equities funds - ILCV tracks the Morningstar US Large-Mid Cap Broad Value Index while VOOV tracks the S&P 500 Value Index. Both are passively managed. Over the past 10 years, ILCV returned 11.68%/yr vs 11.82%/yr for VOOV. Their correlation of 0.95 suggests significant overlap in exposure. ILCV charges 0.04%/yr vs 0.07%/yr for VOOV.

Performance

ILCV vs. VOOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Value ETF (ILCV) and Vanguard S&P 500 Value ETF (VOOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ILCV having a 7.75% return and VOOV slightly lower at 7.51%. Both investments have delivered pretty close results over the past 10 years, with ILCV having a 11.68% annualized return and VOOV not far ahead at 11.82%.

ILCV

• 1D: -0.44%
• 1M: 2.76%
• YTD: 7.75%
• 6M: 7.41%
• 1Y: 26.58%
• 3Y*: 18.61%
• 5Y*: 11.42%
• 10Y*: 11.68%

VOOV

• 1D: -0.40%
• 1M: 2.22%
• YTD: 7.51%
• 6M: 7.76%
• 1Y: 21.33%
• 3Y*: 15.68%
• 5Y*: 10.64%
• 10Y*: 11.82%

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

ILCV vs. VOOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCV iShares Morningstar Value ETF	7.75%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	25.19%	-6.24%	15.00%
VOOV Vanguard S&P 500 Value ETF	7.51%	13.10%	12.21%	22.15%	-5.37%	24.87%	1.23%	31.75%	-9.09%	15.26%

Correlation

The correlation between ILCV and VOOV is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.95

The correlation between ILCV and VOOV has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

ILCV vs. VOOV - Sectors Allocation Comparison

Sectors	ILCV	VOOV
Technology	23.8%	19.0%
Financial Services	16.5%	15.0%
Healthcare	11.5%	11.6%
Consumer Cyclical	9.5%	11.1%
Industrials	8.8%	11.0%
Communication Services	8.0%	3.3%
Consumer Defensive	7.6%	9.5%
Energy	6.0%	7.6%
Utilities	3.5%	4.6%
Basic Materials	2.4%	3.5%
Real Estate	2.0%	3.4%

Return for Risk

ILCV vs. VOOV — Risk / Return Rank

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

ILCV

ILCV Risk / Return Rank: 82
ILCV Sharpe Ratio Rank: 82
ILCV Sortino Ratio Rank: 84
ILCV Omega Ratio Rank: 81
ILCV Calmar Ratio Rank: 79
ILCV Martin Ratio Rank: 83

VOOV

VOOV Risk / Return Rank: 65
VOOV Sharpe Ratio Rank: 64
VOOV Sortino Ratio Rank: 64
VOOV Omega Ratio Rank: 62
VOOV Calmar Ratio Rank: 67
VOOV Martin Ratio Rank: 69

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. VOOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and Vanguard S&P 500 Value ETF (VOOV). 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.

	ILCV	VOOV	Difference
Sharpe ratio: Return per unit of total volatility	2.72	2.18	+0.54
Sortino ratio: Return per unit of downside risk	3.85	3.04	+0.81
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.11
Calmar ratio: Return relative to maximum drawdown	4.08	3.42	+0.66
Martin ratio: Return relative to average drawdown	16.87	13.04	+3.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ILCV vs. VOOV - Sharpe Ratio Comparison

The current ILCV Sharpe Ratio is 2.72, which is comparable to the VOOV Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of ILCV and VOOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ILCV	VOOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.18	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.74	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.70	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.75	-0.29

Drawdowns

ILCV vs. VOOV - Drawdown Comparison

The maximum ILCV drawdown since its inception was -58.63%, which is greater than VOOV's maximum drawdown of -37.31%. Use the drawdown chart below to compare losses from any high point for ILCV and VOOV.

Drawdown Indicators

	ILCV	VOOV	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-37.31%	-21.32%
Max Drawdown (1Y) Largest decline over 1 year	-6.55%	-6.27%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-17.55%	+2.60%
Max Drawdown (5Y) Largest decline over 5 years	-18.58%	-18.10%	-0.48%
Max Drawdown (10Y) Largest decline over 10 years	-35.53%	-37.31%	+1.78%
Current Drawdown Current decline from peak	-0.60%	-0.52%	-0.08%
Average Drawdown Average peak-to-trough decline	-9.32%	-3.84%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.64%	-0.06%

Volatility

ILCV vs. VOOV - Volatility Comparison

iShares Morningstar Value ETF (ILCV) and Vanguard S&P 500 Value ETF (VOOV) have volatilities of 2.01% and 2.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCV	VOOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	2.01%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	7.06%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.82%	9.83%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	14.45%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	16.95%	-0.29%

ILCV vs. VOOV - Expense Ratio Comparison

ILCV has a 0.04% expense ratio, which is lower than VOOV's 0.07% 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. VOOV - Dividend Comparison

ILCV's dividend yield for the trailing twelve months is around 1.63%, less than VOOV's 1.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCV iShares Morningstar Value ETF	1.63%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%
VOOV Vanguard S&P 500 Value ETF	1.68%	1.76%	2.10%	1.69%	2.19%	1.87%	2.45%	2.10%	2.65%	2.13%	2.24%	2.36%

Frequently Asked Questions

Can I hold both ILCV and VOOV in my portfolio?

With a correlation of 0.96, ILCV and VOOV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ILCV or VOOV?

VOOV has higher volatility (2.01%) compared to ILCV (2.01%). In terms of maximum drawdown, ILCV dropped -58.63% vs VOOV's -37.31%.

Which ETF is better, ILCV or VOOV?

On 10-year performance, VOOV leads with 11.82% vs 11.68% for ILCV. On fees, ILCV is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCV or VOOV?

Over the 10-year period, VOOV has performed better with a 11.82% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCV or VOOV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.07% for VOOV.

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

VOOV has the higher dividend yield at 1.68%, compared with 1.63% for ILCV.

What is the main difference between ILCV and VOOV?

ILCV tracks Morningstar US Large-Mid Cap Broad Value Index, while VOOV tracks S&P 500 Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.04% for ILCV and 0.07% for VOOV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.72 vs 2.18), 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.