IMCB vs. IVLU

Last updated Jun 14, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and IVLU (iShares MSCI International Value Factor 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 IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index. Both are passively managed. Over the past 10 years, IMCB returned 11.53%/yr vs 11.63%/yr for IVLU. A 0.68 correlation means they provide meaningful diversification when combined. IMCB charges 0.04%/yr vs 0.30%/yr for IVLU.

Performance

IMCB vs. IVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) and iShares MSCI International Value Factor ETF (IVLU). 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 IVLU's 12.96% return. Both investments have delivered pretty close results over the past 10 years, with IMCB having a 11.53% annualized return and IVLU not far ahead at 11.63%.

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%

IVLU

• 1D: 0.56%
• 1M: 2.48%
• YTD: 12.96%
• 6M: 14.33%
• 1Y: 35.32%
• 3Y*: 23.53%
• 5Y*: 14.06%
• 10Y*: 11.63%

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

IMCB vs. IVLU - 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%	19.70%
IVLU iShares MSCI International Value Factor ETF	12.96%	46.09%	6.76%	20.07%	-5.73%	15.60%	-4.50%	15.60%	-15.10%	23.10%

Correlation

The correlation between IMCB and IVLU is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jul 15, 2015	0.68

The correlation between IMCB and IVLU has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

IMCB vs. IVLU - Sectors Allocation Comparison

Sectors	IMCB	IVLU
Technology	22.6%	10.6%
Industrials	18.5%	18.8%
Financial Services	11.9%	26.5%
Consumer Cyclical	9.1%	7.6%
Healthcare	7.9%	9.0%
Energy	6.7%	5.5%
Utilities	6.0%	3.6%
Basic Materials	5.3%	7.4%
Consumer Defensive	5.1%	6.0%
Real Estate	4.3%	1.4%
Communication Services	2.5%	3.7%

Return for Risk

IMCB vs. IVLU — 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

IVLU

IVLU Risk / Return Rank: 73
IVLU Sharpe Ratio Rank: 78
IVLU Sortino Ratio Rank: 77
IVLU Omega Ratio Rank: 76
IVLU Calmar Ratio Rank: 67
IVLU 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.

IMCB vs. IVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) and iShares MSCI International Value Factor ETF (IVLU). 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	IVLU	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.17	-0.40
Sortino ratio: Return per unit of downside risk	2.50	2.98	-0.48
Omega ratio: Gain probability vs. loss probability	1.31	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	2.92	2.90	+0.02
Martin ratio: Return relative to average drawdown	11.45	11.01	+0.44

IMCB vs. IVLU - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.77, which is comparable to the IVLU Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of IMCB and IVLU, 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. IVLU - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, which is greater than IVLU's maximum drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for IMCB and IVLU.

Drawdown Indicators

	IMCB	IVLU	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-41.85%	-16.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-11.69%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-15.48%	-4.32%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-26.04%	+0.89%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	-41.85%	+0.86%
Current Drawdown Current decline from peak	-0.26%	-0.53%	+0.27%
Average Drawdown Average peak-to-trough decline	-7.72%	-8.57%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	3.09%	-1.04%

Volatility

IMCB vs. IVLU - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 4.70%, while iShares MSCI International Value Factor ETF (IVLU) has a volatility of 5.44%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than IVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCB	IVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	5.44%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	12.85%	-2.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	15.65%	-2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	16.58%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	17.66%	+2.01%

IMCB vs. IVLU - Expense Ratio Comparison

IMCB has a 0.04% expense ratio, which is lower than IVLU's 0.30% expense ratio.

Dividends

IMCB vs. IVLU - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, less than IVLU's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IVLU iShares MSCI International Value Factor ETF	3.28%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%

Frequently Asked Questions

Can I hold both IMCB and IVLU in my portfolio?

IMCB and IVLU have a correlation of 0.67, 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 IVLU?

IVLU has higher volatility (5.44%) compared to IMCB (4.70%). In terms of maximum drawdown, IMCB dropped -58.80% vs IVLU's -41.85%.

Which ETF is better, IMCB or IVLU?

On 10-year performance, IVLU leads with 11.63% vs 11.53% for IMCB. 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 IVLU?

Over the 10-year period, IVLU has performed better with a 11.63% return vs 11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCB or IVLU?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.30% for IVLU.

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

IVLU has the higher dividend yield at 3.28%, compared with 1.21% for IMCB.

What is the main difference between IMCB and IVLU?

IMCB is categorized as Mid Cap Blend Equities, while IVLU is Foreign Large Cap Equities. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while IVLU tracks MSCI World ex USA Enhanced Value Index. Their fees differ too: 0.04% for IMCB and 0.30% for IVLU.

Which has better risk-adjusted returns?

IVLU currently has the higher Sharpe Ratio (2.17 vs 1.77), 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.