IMCB vs. IDEV

Last updated Jun 14, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both exchange-traded funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index, while IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, IMCB returned 8.79%/yr vs 8.52%/yr for IDEV. A 0.78 correlation means they provide meaningful diversification when combined. IMCB charges 0.04%/yr vs 0.05%/yr for IDEV.

Performance

IMCB vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCB achieves a 15.22% return, which is significantly higher than IDEV's 9.59% return.

IMCB

• 1D: 1.00%
• 1M: 5.50%
• YTD: 15.22%
• 6M: 14.34%
• 1Y: 24.76%
• 3Y*: 16.91%
• 5Y*: 8.79%
• 10Y*: 11.53%

IDEV

• 1D: 0.42%
• 1M: 2.88%
• YTD: 9.59%
• 6M: 11.02%
• 1Y: 23.58%
• 3Y*: 17.03%
• 5Y*: 8.52%
• 10Y*: —

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

IMCB vs. IDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCB iShares Morningstar Mid-Cap ETF	15.22%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	13.84%
IDEV iShares Core MSCI International Developed Markets ETF	9.59%	32.56%	4.54%	17.36%	-14.99%	13.00%	8.32%	23.12%	-14.10%	17.43%

Correlation

The correlation between IMCB and IDEV is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017	0.78

The correlation between IMCB and IDEV has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

IMCB vs. IDEV - Sectors Allocation Comparison

Sectors	IMCB	IDEV
Technology	22.6%	11.1%
Industrials	18.5%	18.8%
Financial Services	11.9%	24.0%
Consumer Cyclical	9.1%	7.7%
Healthcare	7.9%	8.5%
Energy	6.7%	5.4%
Utilities	6.0%	3.4%
Basic Materials	5.3%	8.3%
Consumer Defensive	5.1%	5.8%
Real Estate	4.3%	2.7%
Communication Services	2.5%	4.3%

Return for Risk

IMCB vs. IDEV — Risk / Return Rank

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

IMCB

IMCB Risk / Return Rank: 63
IMCB Sharpe Ratio Rank: 61
IMCB Sortino Ratio Rank: 61
IMCB Omega Ratio Rank: 58
IMCB Calmar Ratio Rank: 66
IMCB Martin Ratio Rank: 70

IDEV

IDEV Risk / Return Rank: 48
IDEV Sharpe Ratio Rank: 48
IDEV Sortino Ratio Rank: 48
IDEV Omega Ratio Rank: 47
IDEV Calmar Ratio Rank: 45
IDEV Martin Ratio Rank: 52

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.

IMCB vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

	IMCB	IDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.48	+0.30
Sortino ratio: Return per unit of downside risk	2.50	2.11	+0.39
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.92	1.99	+0.93
Martin ratio: Return relative to average drawdown	11.45	7.76	+3.69

IMCB vs. IDEV - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.77, which is comparable to the IDEV Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of IMCB and IDEV, 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

IMCB vs. IDEV - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, which is greater than IDEV's maximum drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for IMCB and IDEV.

Drawdown Indicators

	IMCB	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-34.77%	-24.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-11.20%	+3.15%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-13.41%	-6.39%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-29.15%	+4.00%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.37%	+0.11%
Average Drawdown Average peak-to-trough decline	-7.72%	-6.55%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.87%	-0.82%

Volatility

IMCB vs. IDEV - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 4.70%, while iShares Core MSCI International Developed Markets ETF (IDEV) has a volatility of 5.30%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCB	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	5.30%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	12.73%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	15.07%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	16.35%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	17.29%	+2.38%

IMCB vs. IDEV - Expense Ratio Comparison

IMCB has a 0.04% expense ratio, which is lower than IDEV's 0.05% 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

IMCB vs. IDEV - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, less than IDEV's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDEV iShares Core MSCI International Developed Markets ETF	3.11%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%	0.00%	0.00%
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%

Frequently Asked Questions

Can I hold both IMCB and IDEV in my portfolio?

IMCB and IDEV have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCB or IDEV?

IDEV has higher volatility (5.30%) compared to IMCB (4.70%). In terms of maximum drawdown, IMCB dropped -58.80% vs IDEV's -34.77%.

Which ETF is better, IMCB or IDEV?

On 5-year performance, IMCB leads with 8.79% vs 8.52% for IDEV. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCB or IDEV?

Over the 5-year period, IMCB has performed better with a 8.79% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCB or IDEV?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.05% for IDEV.

Which ETF pays a higher dividend yield, IMCB or IDEV?

IDEV has the higher dividend yield at 3.11%, compared with 1.21% for IMCB.

What is the main difference between IMCB and IDEV?

IMCB is categorized as Mid Cap Blend Equities, while IDEV is Foreign Large Cap Equities. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while IDEV tracks MSCI World ex USA Investable Market Index. Their fees differ too: 0.04% for IMCB and 0.05% for IDEV.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.77 vs 1.48), 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.