IMCG vs. DFVEX

Last updated Jun 3, 2026

IMCG (iShares Morningstar Mid-Cap Growth ETF) and DFVEX (DFA U.S. Vector Equity Fund) are both funds - IMCG is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Broad Growth Index, while DFVEX is a Mid Cap Value Equities fund managed by Dimensional. Over the past 10 years, IMCG returned 14.49%/yr vs 12.18%/yr for DFVEX. Their correlation of 0.86 suggests significant overlap in exposure. IMCG charges 0.06%/yr vs 0.28%/yr for DFVEX.

Performance

IMCG vs. DFVEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap Growth ETF (IMCG) and DFA U.S. Vector Equity Fund (DFVEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCG achieves a 20.36% return, which is significantly higher than DFVEX's 11.74% return. Over the past 10 years, IMCG has outperformed DFVEX with an annualized return of 14.49%, while DFVEX has yielded a comparatively lower 12.18% annualized return.

IMCG

• 1D: 1.73%
• 1M: 8.63%
• YTD: 20.36%
• 6M: 19.45%
• 1Y: 25.02%
• 3Y*: 19.02%
• 5Y*: 8.90%
• 10Y*: 14.49%

DFVEX

• 1D: 0.15%
• 1M: 3.50%
• YTD: 11.74%
• 6M: 13.07%
• 1Y: 29.52%
• 3Y*: 18.46%
• 5Y*: 10.36%
• 10Y*: 12.18%

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

IMCG vs. DFVEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCG iShares Morningstar Mid-Cap Growth ETF	20.36%	6.55%	18.14%	20.73%	-25.79%	15.39%	45.64%	35.70%	-3.68%	25.57%
DFVEX DFA U.S. Vector Equity Fund	11.74%	13.66%	14.36%	17.60%	-9.96%	32.10%	7.53%	26.11%	-13.24%	14.15%

Correlation

The correlation between IMCG and DFVEX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006	0.86

The correlation between IMCG and DFVEX has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

Return for Risk

IMCG vs. DFVEX — Risk / Return Rank

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

IMCG

IMCG Risk / Return Rank: 48
IMCG Sharpe Ratio Rank: 46
IMCG Sortino Ratio Rank: 46
IMCG Omega Ratio Rank: 43
IMCG Calmar Ratio Rank: 49
IMCG Martin Ratio Rank: 55

DFVEX

DFVEX Risk / Return Rank: 71
DFVEX Sharpe Ratio Rank: 72
DFVEX Sortino Ratio Rank: 71
DFVEX Omega Ratio Rank: 62
DFVEX Calmar Ratio Rank: 75
DFVEX Martin Ratio Rank: 74

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.

IMCG vs. DFVEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap Growth ETF (IMCG) and DFA U.S. Vector Equity Fund (DFVEX). 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.

	IMCG	DFVEX	Difference
Sharpe ratio Return per unit of total volatility	1.62	2.47	-0.85
Sortino ratio Return per unit of downside risk	2.31	3.52	-1.21
Omega ratio Gain probability vs. loss probability	1.28	1.44	-0.16
Calmar ratio Return relative to maximum drawdown	2.48	3.42	-0.94
Martin ratio Return relative to average drawdown	9.66	14.14	-4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMCG vs. DFVEX - Sharpe Ratio Comparison

The current IMCG Sharpe Ratio is 1.62, which is lower than the DFVEX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of IMCG and DFVEX, 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

	IMCG	DFVEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.47	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.57	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.61	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.42	+0.12

Drawdowns

IMCG vs. DFVEX - Drawdown Comparison

The maximum IMCG drawdown since its inception was -58.96%, smaller than the maximum DFVEX drawdown of -62.71%. Use the drawdown chart below to compare losses from any high point for IMCG and DFVEX.

Drawdown Indicators

	IMCG	DFVEX	Difference
Max Drawdown Largest peak-to-trough decline	-58.96%	-62.71%	+3.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.17%	-8.45%	-1.72%
Max Drawdown (3Y) Largest decline over 3 years	-21.92%	-21.20%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-35.08%	-21.20%	-13.88%
Max Drawdown (10Y) Largest decline over 10 years	-35.08%	-42.20%	+7.12%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.22%	-9.12%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.04%	+0.57%

Volatility

IMCG vs. DFVEX - Volatility Comparison

iShares Morningstar Mid-Cap Growth ETF (IMCG) has a higher volatility of 4.62% compared to DFA U.S. Vector Equity Fund (DFVEX) at 2.96%. This indicates that IMCG's price experiences larger fluctuations and is considered to be riskier than DFVEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCG	DFVEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	2.96%	+1.66%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	8.97%	+3.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	12.20%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.17%	18.22%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	20.15%	+0.37%

IMCG vs. DFVEX - Expense Ratio Comparison

IMCG has a 0.06% expense ratio, which is lower than DFVEX's 0.28% expense ratio.

Dividends

IMCG vs. DFVEX - Dividend Comparison

IMCG's dividend yield for the trailing twelve months is around 0.65%, less than DFVEX's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFVEX DFA U.S. Vector Equity Fund	1.08%	0.91%	1.26%	3.33%	4.94%	9.56%	1.28%	2.98%	4.09%	4.41%	3.46%	4.59%
IMCG iShares Morningstar Mid-Cap Growth ETF	0.65%	0.78%	0.78%	0.85%	0.91%	0.41%	0.09%	0.30%	0.35%	0.45%	0.52%	0.38%

Frequently Asked Questions

Can I hold both IMCG and DFVEX in my portfolio?

IMCG and DFVEX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCG or DFVEX?

IMCG has higher volatility (4.62%) compared to DFVEX (2.96%). In terms of maximum drawdown, IMCG dropped -58.96% vs DFVEX's -62.71%.

Which has better risk-adjusted returns?

DFVEX currently has the higher Sharpe Ratio (2.47 vs 1.62), 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.