IMCV vs. DVLU
IMCV (iShares Morningstar Mid-Cap ETF) and DVLU (First Trust Dorsey Wright Momentum & 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 DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, IMCV returned 9.60%/yr vs 12.25%/yr for DVLU. Their correlation of 0.85 suggests significant overlap in exposure. IMCV charges 0.06%/yr vs 0.60%/yr for DVLU.
Performance
IMCV vs. DVLU - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IMCV having a 11.06% return and DVLU slightly lower at 10.79%.
IMCV
- 1D
- 0.58%
- 1M
- 1.64%
- YTD
- 11.06%
- 6M
- 10.33%
- 1Y
- 23.30%
- 3Y*
- 16.54%
- 5Y*
- 9.60%
- 10Y*
- 10.80%
DVLU
- 1D
- 0.30%
- 1M
- 4.14%
- YTD
- 10.79%
- 6M
- 8.85%
- 1Y
- 36.17%
- 3Y*
- 21.46%
- 5Y*
- 12.25%
- 10Y*
- —
IMCV vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IMCV iShares Morningstar Mid-Cap ETF | 11.06% | 13.52% | 12.28% | 11.89% | -6.98% | 33.56% | -4.11% | 24.72% | -14.35% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.79% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between IMCV and DVLU is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.85 |
The correlation between IMCV and DVLU has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
IMCV vs. DVLU — Risk / Return Rank
IMCV
DVLU
IMCV vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| IMCV | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 2.97 | +0.42 |
| Martin ratioReturn relative to average drawdown | 12.59 | 10.71 | +1.89 |
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Drawdowns
IMCV vs. DVLU - Drawdown Comparison
The maximum IMCV drawdown since its inception was -64.74%, which is greater than DVLU's maximum drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for IMCV and DVLU.
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Drawdown Indicators
| IMCV | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -53.26% | -11.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -12.24% | +5.34% |
Max Drawdown (3Y)Largest decline over 3 years | -18.63% | -24.86% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -19.87% | -24.86% | +4.99% |
Max Drawdown (10Y)Largest decline over 10 years | -46.33% | — | — |
Current DrawdownCurrent decline from peak | -0.88% | -0.65% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -8.73% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 3.39% | -1.53% |
Volatility
IMCV vs. DVLU - Volatility Comparison
The current volatility for iShares Morningstar Mid-Cap ETF (IMCV) is 3.11%, while First Trust Dorsey Wright Momentum & Value ETF (DVLU) has a volatility of 3.70%. This indicates that IMCV experiences smaller price fluctuations and is considered to be less risky than DVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMCV | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 3.70% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 8.12% | 12.34% | -4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 16.43% | -4.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 21.39% | -4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 25.73% | -6.12% |
IMCV vs. DVLU - Expense Ratio Comparison
IMCV has a 0.06% expense ratio, which is lower than DVLU's 0.60% expense ratio.
Dividends
IMCV vs. DVLU - Dividend Comparison
IMCV's dividend yield for the trailing twelve months is around 1.91%, more than DVLU's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% | 0.00% | 0.00% |
IMCV iShares Morningstar Mid-Cap ETF | 1.91% | 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
IMCV and DVLU have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVLU has higher volatility (3.70%) compared to IMCV (3.11%). In terms of maximum drawdown, IMCV dropped -64.74% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 12.25% vs 9.60% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.25% return vs 9.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMCV is cheaper with a 0.06% expense ratio, compared with 0.60% for DVLU.
IMCV has the higher dividend yield at 1.91%, compared with 0.62% for DVLU.
IMCV is categorized as Mid Cap Value Equities, while DVLU is Momentum. IMCV tracks Morningstar US Mid Cap Broad Value Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.06% for IMCV and 0.60% for DVLU.
DVLU currently has the higher Sharpe Ratio (2.22 vs 1.99), 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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