IMCV vs. AUSF

Last updated Jun 4, 2026

IMCV (iShares Morningstar Mid-Cap ETF) and AUSF (Global X Adaptive U.S. Factor ETF) are both Mid Cap Value Equities funds - IMCV tracks the Morningstar US Mid Cap Broad Value Index while AUSF tracks the Adaptive Wealth Strategies U.S. Factor Index. Both are passively managed. Over the past 5 years, IMCV returned 8.69%/yr vs 12.71%/yr for AUSF. Their correlation of 0.90 suggests significant overlap in exposure. IMCV charges 0.06%/yr vs 0.27%/yr for AUSF.

Performance

IMCV vs. AUSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCV) and Global X Adaptive U.S. Factor ETF (AUSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCV achieves a 9.96% return, which is significantly higher than AUSF's 6.72% return.

IMCV

• 1D: -0.21%
• 1M: 2.12%
• YTD: 9.96%
• 6M: 11.32%
• 1Y: 23.41%
• 3Y*: 16.66%
• 5Y*: 8.69%
• 10Y*: 10.40%

AUSF

• 1D: -0.43%
• 1M: 0.23%
• YTD: 6.72%
• 6M: 7.67%
• 1Y: 15.11%
• 3Y*: 20.14%
• 5Y*: 12.71%
• 10Y*: —

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

IMCV vs. AUSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IMCV iShares Morningstar Mid-Cap ETF	9.96%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-14.72%
AUSF Global X Adaptive U.S. Factor ETF	6.72%	13.69%	16.05%	22.26%	-0.18%	27.48%	1.27%	24.06%	-10.79%

Correlation

The correlation between IMCV and AUSF is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018	0.90

The correlation between IMCV and AUSF has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

IMCV vs. AUSF - Sectors Allocation Comparison

Sectors	IMCV	AUSF
Financial Services	15.6%	18.7%
Energy	12.5%	5.2%
Industrials	12.1%	11.7%
Utilities	10.0%	4.0%
Technology	9.1%	13.5%
Consumer Defensive	8.9%	8.5%
Consumer Cyclical	8.7%	7.8%
Healthcare	8.5%	12.0%
Basic Materials	6.5%	4.0%
Real Estate	5.6%	4.1%
Communication Services	2.5%	10.6%

Return for Risk

IMCV vs. AUSF — Risk / Return Rank

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

IMCV

IMCV Risk / Return Rank: 63
IMCV Sharpe Ratio Rank: 59
IMCV Sortino Ratio Rank: 62
IMCV Omega Ratio Rank: 58
IMCV Calmar Ratio Rank: 68
IMCV Martin Ratio Rank: 69

AUSF

AUSF Risk / Return Rank: 44
AUSF Sharpe Ratio Rank: 42
AUSF Sortino Ratio Rank: 43
AUSF Omega Ratio Rank: 39
AUSF Calmar Ratio Rank: 52
AUSF Martin Ratio Rank: 45

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.

IMCV vs. AUSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and Global X Adaptive U.S. Factor ETF (AUSF). 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.

	IMCV	AUSF	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.50	+0.52
Sortino ratio: Return per unit of downside risk	2.94	2.18	+0.75
Omega ratio: Gain probability vs. loss probability	1.36	1.26	+0.10
Calmar ratio: Return relative to maximum drawdown	3.41	2.60	+0.81
Martin ratio: Return relative to average drawdown	12.72	7.54	+5.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMCV vs. AUSF - Sharpe Ratio Comparison

The current IMCV Sharpe Ratio is 2.02, which is higher than the AUSF Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of IMCV and AUSF, 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

	IMCV	AUSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.50	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.94	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.65	-0.17

Drawdowns

IMCV vs. AUSF - Drawdown Comparison

The maximum IMCV drawdown since its inception was -64.74%, which is greater than AUSF's maximum drawdown of -44.25%. Use the drawdown chart below to compare losses from any high point for IMCV and AUSF.

Drawdown Indicators

	IMCV	AUSF	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-44.25%	-20.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-5.84%	-1.06%
Max Drawdown (3Y) Largest decline over 3 years	-18.63%	-12.29%	-6.34%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-14.23%	-5.64%
Max Drawdown (10Y) Largest decline over 10 years	-46.33%	—	—
Current Drawdown Current decline from peak	-0.21%	-2.26%	+2.05%
Average Drawdown Average peak-to-trough decline	-8.42%	-4.22%	-4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.01%	-0.16%

Volatility

IMCV vs. AUSF - Volatility Comparison

iShares Morningstar Mid-Cap ETF (IMCV) has a higher volatility of 2.56% compared to Global X Adaptive U.S. Factor ETF (AUSF) at 2.41%. This indicates that IMCV's price experiences larger fluctuations and is considered to be riskier than AUSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCV	AUSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	2.41%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	6.65%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	10.14%	+1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	13.65%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	19.07%	+0.59%

IMCV vs. AUSF - Expense Ratio Comparison

IMCV has a 0.06% expense ratio, which is lower than AUSF's 0.27% 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

IMCV vs. AUSF - Dividend Comparison

IMCV's dividend yield for the trailing twelve months is around 1.94%, less than AUSF's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSF Global X Adaptive U.S. Factor ETF	2.76%	2.78%	2.63%	1.83%	2.51%	2.22%	2.95%	4.02%	1.46%	0.00%	0.00%	0.00%
IMCV iShares Morningstar Mid-Cap ETF	1.94%	2.23%	2.36%	2.30%	2.36%	1.86%	2.61%	2.45%	2.61%	1.87%	2.09%	2.29%

Frequently Asked Questions

Can I hold both IMCV and AUSF in my portfolio?

IMCV and AUSF have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCV or AUSF?

IMCV has higher volatility (2.56%) compared to AUSF (2.41%). In terms of maximum drawdown, IMCV dropped -64.74% vs AUSF's -44.25%.

Which ETF is better, IMCV or AUSF?

On 5-year performance, AUSF leads with 12.71% vs 8.69% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, AUSF has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCV or AUSF?

Over the 5-year period, AUSF has performed better with a 12.71% return vs 8.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCV or AUSF?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.27% for AUSF.

Which ETF pays a higher dividend yield, IMCV or AUSF?

AUSF has the higher dividend yield at 2.76%, compared with 1.94% for IMCV.

What is the main difference between IMCV and AUSF?

IMCV tracks Morningstar US Mid Cap Broad Value Index, while AUSF tracks Adaptive Wealth Strategies U.S. Factor Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.06% for IMCV and 0.27% for AUSF.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.02 vs 1.50), 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.