IMCG vs. IVOG
IMCG (iShares Morningstar Mid-Cap Growth ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both Mid Cap Growth Equities funds - IMCG tracks the Morningstar US Mid Cap Broad Growth Index while IVOG tracks the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, IMCG returned 14.25%/yr vs 11.06%/yr for IVOG. Their correlation of 0.90 suggests significant overlap in exposure. IMCG charges 0.06%/yr vs 0.10%/yr for IVOG.
Performance
IMCG vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, IMCG achieves a 21.17% return, which is significantly higher than IVOG's 16.96% return. Over the past 10 years, IMCG has outperformed IVOG with an annualized return of 14.25%, while IVOG has yielded a comparatively lower 11.06% annualized return.
IMCG
- 1D
- -0.77%
- 1M
- 2.14%
- 6M
- 16.73%
- YTD
- 21.17%
- 1Y
- 21.16%
- 3Y*
- 16.67%
- 5Y*
- 7.98%
- 10Y*
- 14.25%
IVOG
- 1D
- -1.05%
- 1M
- -1.65%
- 6M
- 11.10%
- YTD
- 16.96%
- 1Y
- 23.29%
- 3Y*
- 14.86%
- 5Y*
- 8.21%
- 10Y*
- 11.06%
IMCG vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMCG iShares Morningstar Mid-Cap Growth ETF | 21.17% | 6.55% | 18.14% | 20.73% | -25.79% | 15.39% | 45.64% | 35.70% | -3.68% | 25.57% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 16.96% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between IMCG and IVOG is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.90 |
The correlation between IMCG and IVOG has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
IMCG vs. IVOG — Risk / Return Rank
IMCG
IVOG
IMCG vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap Growth ETF (IMCG) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.
| IMCG | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.41 | -0.32 |
| Martin ratioReturn relative to average drawdown | 7.95 | 9.23 | -1.29 |
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Drawdowns
IMCG vs. IVOG - Drawdown Comparison
The maximum IMCG drawdown since its inception was -58.96%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for IMCG and IVOG.
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Drawdown Indicators
| IMCG | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.96% | -39.32% | -19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -9.69% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -21.92% | -25.61% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -35.08% | -29.31% | -5.77% |
Max Drawdown (10Y)Largest decline over 10 years | -35.08% | -39.32% | +4.24% |
Current DrawdownCurrent decline from peak | -1.84% | -3.90% | +2.06% |
Average DrawdownAverage peak-to-trough decline | -9.18% | -5.85% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.53% | +0.14% |
Volatility
IMCG vs. IVOG - Volatility Comparison
iShares Morningstar Mid-Cap Growth ETF (IMCG) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) have volatilities of 5.75% and 5.56%, 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.
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Volatility by Period
| IMCG | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 5.56% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.04% | 13.92% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 17.90% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.39% | 20.72% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.55% | 20.59% | -0.04% |
IMCG vs. IVOG - Expense Ratio Comparison
IMCG has a 0.06% expense ratio, which is lower than IVOG's 0.10% 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
IMCG vs. IVOG - Dividend Comparison
IMCG's dividend yield for the trailing twelve months is around 0.62%, more than IVOG's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCG iShares Morningstar Mid-Cap Growth ETF | 0.62% | 0.78% | 0.78% | 0.85% | 0.91% | 0.41% | 0.09% | 0.30% | 0.35% | 0.45% | 0.52% | 0.38% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
Frequently Asked Questions
With a correlation of 0.92, IMCG and IVOG 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.
IMCG has higher volatility (5.75%) compared to IVOG (5.56%). In terms of maximum drawdown, IMCG dropped -58.96% vs IVOG's -39.32%.
On 10-year performance, IMCG leads with 14.25% vs 11.06% for IVOG. On fees, IMCG is cheaper at 0.06% per year. On volatility, IVOG has been the lower-risk option at 5.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IMCG has performed better with a 14.25% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMCG is cheaper with a 0.06% expense ratio, compared with 0.10% for IVOG.
IMCG has the higher dividend yield at 0.62%, compared with 0.55% for IVOG.
IMCG tracks Morningstar US Mid Cap Broad Growth Index, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.06% for IMCG and 0.10% for IVOG.
IVOG currently has the higher Sharpe Ratio (1.31 vs 1.26), 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.
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