IMCV vs. CGDV

Last updated Jun 9, 2026

IMCV (iShares Morningstar Mid-Cap ETF) and CGDV (Capital Group Dividend Value ETF) are both exchange-traded funds - IMCV is a Mid Cap Value Equities fund tracking the Morningstar US Mid Cap Broad Value Index, while CGDV is a Large Cap Value Equities fund actively managed by Capital Group. IMCV is passively managed, while CGDV is actively managed. Over the past 3 years, IMCV returned 16.05%/yr vs 24.27%/yr for CGDV. Their correlation of 0.85 suggests significant overlap in exposure. IMCV charges 0.06%/yr vs 0.33%/yr for CGDV.

Performance

IMCV vs. CGDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCV) and Capital Group Dividend Value ETF (CGDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IMCV having a 9.75% return and CGDV slightly higher at 10.15%.

IMCV

• 1D: -0.41%
• 1M: 1.84%
• YTD: 9.75%
• 6M: 11.34%
• 1Y: 22.85%
• 3Y*: 16.05%
• 5Y*: 8.79%
• 10Y*: 10.39%

CGDV

• 1D: 0.13%
• 1M: 1.46%
• YTD: 10.15%
• 6M: 10.88%
• 1Y: 27.58%
• 3Y*: 24.27%
• 5Y*: —
• 10Y*: —

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

IMCV vs. CGDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IMCV iShares Morningstar Mid-Cap ETF	9.75%	13.52%	12.28%	11.89%	-2.60%
CGDV Capital Group Dividend Value ETF	10.15%	25.50%	20.10%	28.81%	-2.89%

Correlation

The correlation between IMCV and CGDV 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	0.79
Correlation (All Time) Calculated using the full available price history since Feb 25, 2022	0.85

The correlation between IMCV and CGDV shifts across timeframes, from 0.67 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

IMCV vs. CGDV - Sectors Allocation Comparison

Sectors	IMCV	CGDV
Financial Services	15.6%	6.8%
Energy	12.5%	3.8%
Industrials	12.1%	13.2%
Utilities	10.0%	2.1%
Technology	9.1%	34.1%
Consumer Defensive	8.9%	5.5%
Consumer Cyclical	8.7%	10.6%
Healthcare	8.5%	11.5%
Basic Materials	6.5%	2.9%
Real Estate	5.6%	1.1%
Communication Services	2.5%	8.4%

Return for Risk

IMCV vs. CGDV — Risk / Return Rank

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

IMCV

IMCV Risk / Return Rank: 69
IMCV Sharpe Ratio Rank: 67
IMCV Sortino Ratio Rank: 71
IMCV Omega Ratio Rank: 64
IMCV Calmar Ratio Rank: 73
IMCV Martin Ratio Rank: 73

CGDV

CGDV Risk / Return Rank: 76
CGDV Sharpe Ratio Rank: 81
CGDV Sortino Ratio Rank: 80
CGDV Omega Ratio Rank: 81
CGDV Calmar Ratio Rank: 63
CGDV Martin Ratio Rank: 77

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. CGDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and Capital Group Dividend Value ETF (CGDV). 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	CGDV	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.34	-0.37
Sortino ratio: Return per unit of downside risk	2.87	3.20	-0.33
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	3.32	2.84	+0.48
Martin ratio: Return relative to average drawdown	12.40	13.37	-0.98
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. CGDV - Sharpe Ratio Comparison

The current IMCV Sharpe Ratio is 1.97, which is comparable to the CGDV Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of IMCV and CGDV, 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	CGDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.34	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
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	1.21	-0.73

Drawdowns

IMCV vs. CGDV - Drawdown Comparison

The maximum IMCV drawdown since its inception was -64.74%, which is greater than CGDV's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for IMCV and CGDV.

Drawdown Indicators

	IMCV	CGDV	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-21.82%	-42.92%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-9.75%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-18.63%	-14.28%	-4.35%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.33%	—	—
Current Drawdown Current decline from peak	-1.07%	-2.22%	+1.15%
Average Drawdown Average peak-to-trough decline	-8.41%	-3.61%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.07%	-0.22%

Volatility

IMCV vs. CGDV - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCV) is 2.35%, while Capital Group Dividend Value ETF (CGDV) has a volatility of 3.60%. This indicates that IMCV experiences smaller price fluctuations and is considered to be less risky than CGDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCV	CGDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	3.60%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	9.47%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	11.85%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	15.51%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	15.51%	+4.15%

IMCV vs. CGDV - Expense Ratio Comparison

IMCV has a 0.06% expense ratio, which is lower than CGDV's 0.33% expense ratio.

Dividends

IMCV vs. CGDV - Dividend Comparison

IMCV's dividend yield for the trailing twelve months is around 1.94%, more than CGDV's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGDV Capital Group Dividend Value ETF	1.19%	1.29%	1.60%	1.65%	1.36%	0.00%	0.00%	0.00%	0.00%	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 CGDV in my portfolio?

IMCV and CGDV 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, IMCV or CGDV?

CGDV has higher volatility (3.60%) compared to IMCV (2.35%). In terms of maximum drawdown, IMCV dropped -64.74% vs CGDV's -21.82%.

Which ETF is better, IMCV or CGDV?

On 3-year performance, CGDV leads with 24.27% vs 16.05% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCV or CGDV?

Over the 3-year period, CGDV has performed better with a 24.27% return vs 16.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCV or CGDV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.33% for CGDV.

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

IMCV has the higher dividend yield at 1.94%, compared with 1.19% for CGDV.

What is the main difference between IMCV and CGDV?

IMCV is categorized as Mid Cap Value Equities, while CGDV is Large Cap Value Equities. They also come from different issuers: iShares and Capital Group. Their fees differ too: 0.06% for IMCV and 0.33% for CGDV.

Which has better risk-adjusted returns?

CGDV currently has the higher Sharpe Ratio (2.34 vs 1.97), 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.