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IMCB vs. VXF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IMCB vs. VXF

Last updated Aug 2, 2026
Documentation

IMCB (iShares Morningstar Mid-Cap ETF) and VXF (Vanguard Extended Market ETF) are both Mid Cap Blend Equities funds - IMCB tracks the IMCB-US - Morningstar U.S. Mid Cap Index while VXF tracks the S&P Completion Index. Both are passively managed. Over the past 10 years, IMCB returned 11.27%/yr vs 11.74%/yr for VXF. Their correlation of 0.93 means they have usually moved in the same direction. IMCB charges 0.04%/yr vs 0.05%/yr for VXF.

Performance

IMCB vs. VXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) and Vanguard Extended Market ETF (VXF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IMCB achieves a 17.87% return, which is significantly higher than VXF's 13.55% return. Both investments have delivered pretty close results over the past 10 years, with IMCB having a 11.27% annualized return and VXF not far ahead at 11.74%.

IMCB

1D
-0.25%
1M
-0.01%
6M
14.48%
YTD
17.87%
1Y
23.21%
3Y*
15.79%
5Y*
9.14%
10Y*
11.27%
ALL TIME*
10.39%

VXF

1D
-0.30%
1M
-2.91%
6M
10.93%
YTD
13.55%
1Y
23.35%
3Y*
16.01%
5Y*
6.11%
10Y*
11.74%
ALL TIME*
9.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IMCB

iShares Morningstar Mid-Cap ETF
$2.94M$3.89M$3.49M

VXF

Vanguard Extended Market ETF
$71.64M$76.55M$103.41M

IMCB vs. VXF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IMCB
iShares Morningstar Mid-Cap ETF		17.87%10.25%15.10%16.37%-16.09%22.81%13.35%31.49%-11.53%19.70%
VXF
Vanguard Extended Market ETF		13.55%11.40%16.89%25.51%-26.52%12.31%32.45%27.96%-9.34%18.06%

Correlation

The correlation between IMCB and VXF is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.93

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.94

Correlation (10Y)
Provides a long-term view across more market conditions.

0.93

Correlation (All Time)
Calculated using the full available price history since Jul 2, 2004

0.93

The correlation between IMCB and VXF has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

IMCB vs. VXF - Sectors Allocation Comparison

Sectors
IMCB
VXF

Industrials

18.4%
19.6%

Technology

17.9%
19.2%

Financial Services

14.1%
13.7%

Consumer Cyclical

9.7%
8.5%

Healthcare

8.8%
13.6%

Energy

7.0%
4.3%

Utilities

6.5%
1.8%

Basic Materials

5.5%
4.7%

Consumer Defensive

5.1%
2.6%

Real Estate

4.5%
5.6%

Communication Services

2.4%
2.8%

Industrials

IMCB
18.4%
VXF
19.6%

Technology

IMCB
17.9%
VXF
19.2%

Financial Services

IMCB
14.1%
VXF
13.7%

Consumer Cyclical

IMCB
9.7%
VXF
8.5%

Healthcare

IMCB
8.8%
VXF
13.6%

Energy

IMCB
7.0%
VXF
4.3%

Utilities

IMCB
6.5%
VXF
1.8%

Basic Materials

IMCB
5.5%
VXF
4.7%

Consumer Defensive

IMCB
5.1%
VXF
2.6%

Real Estate

IMCB
4.5%
VXF
5.6%

Communication Services

IMCB
2.4%
VXF
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Morningstar Mid-Cap ETF

Vanguard Extended Market ETF

Often compared with IMCB:
IMCB vs. IMCGIMCB vs. FSMDXIMCB vs. BKMCIMCB vs. SPMDIMCB vs. VOIMCB vs. IJHIMCB vs. ISCB
Often compared with VXF:
VXF vs. VOOVXF vs. VTIVXF vs. VBVXF vs. VOVXF vs. FZIPXVXF vs. VOTVXF vs. IJR

Return for Risk

IMCB vs. VXF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IMCB
IMCB Risk / Return Rank: 7575
Overall Rank
IMCB Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IMCB Sortino Ratio Rank: 7373
Sortino Ratio Rank
IMCB Omega Ratio Rank: 7070
Omega Ratio Rank
IMCB Calmar Ratio Rank: 7676
Calmar Ratio Rank
IMCB Martin Ratio Rank: 8181
Martin Ratio Rank
VXF
VXF Risk / Return Rank: 5252
Overall Rank
VXF Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
VXF Sortino Ratio Rank: 4949
Sortino Ratio Rank
VXF Omega Ratio Rank: 4545
Omega Ratio Rank
VXF Calmar Ratio Rank: 5858
Calmar Ratio Rank
VXF Martin Ratio Rank: 5959
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IMCB vs. VXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) and Vanguard Extended Market ETF (VXF). 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.

IMCBVXFDifference
Sharpe ratioReturn per unit of total volatility
1.65
1.17

+0.47

Sortino ratioReturn per unit of downside risk
2.35
1.72

+0.62

Omega ratioGain probability vs. loss probability

1.29

1.21

+0.09

Calmar ratioReturn relative to maximum drawdown

2.68

2.04

+0.63

Martin ratioReturn relative to average drawdown

10.73

6.94

+3.79

IMCB vs. VXF - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.65, which is higher than the VXF Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of IMCB and VXF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IMCB vs. VXF - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, roughly equal to the maximum VXF drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for IMCB and VXF.

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Drawdown Indicators

IMCBVXFDifference

Max Drawdown

Largest peak-to-trough decline

-58.80%

-58.03%

-0.77%

Max Drawdown (1Y)

Largest decline over 1 year

-8.05%

-10.21%

+2.16%

Max Drawdown (3Y)

Largest decline over 3 years

-19.80%

-26.92%

+7.12%

Max Drawdown (5Y)

Largest decline over 5 years

-25.15%

-36.39%

+11.24%

Max Drawdown (10Y)

Largest decline over 10 years

-40.99%

-41.72%

+0.73%

Current Drawdown

Current decline from peak

-0.91%

-4.08%

+3.17%

Average Drawdown

Average peak-to-trough decline

-7.68%

-9.50%

+1.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

3.01%

-1.00%

Volatility

IMCB vs. VXF - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 2.32%, while Vanguard Extended Market ETF (VXF) has a volatility of 3.91%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than VXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IMCBVXFDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.32%

3.91%

-1.59%

Volatility (6M)

Calculated over the trailing 6-month period

9.96%

13.29%

-3.33%

Volatility (1Y)

Calculated over the trailing 1-year period

13.10%

17.80%

-4.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.56%

22.38%

-4.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.60%

22.27%

-2.67%

IMCB vs. VXF - Expense Ratio Comparison

IMCB has a 0.04% expense ratio, which is lower than VXF'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. VXF - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, more than VXF's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VXF
Vanguard Extended Market ETF		1.03%1.14%1.09%1.27%1.15%1.13%1.07%1.30%1.66%1.25%1.43%1.35%

Frequently Asked Questions

With a correlation of 0.91, IMCB and VXF 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.

VXF has higher volatility (3.91%) compared to IMCB (2.32%). In terms of maximum drawdown, IMCB dropped -58.80% vs VXF's -58.03%.

On 10-year performance, VXF leads with 11.74% vs 11.27% for IMCB. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VXF has performed better with a 11.74% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

IMCB has the higher dividend yield at 1.21%, compared with 1.03% for VXF.

IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index, while VXF tracks S&P Completion Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.04% for IMCB and 0.05% for VXF.

IMCB currently has the higher Sharpe Ratio (1.65 vs 1.17), 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.

Portfolio Optimizer

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