IMCV vs. FTEC

Last updated Aug 2, 2026

IMCV (iShares Morningstar Mid-Cap ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - IMCV is a Mid Cap Value Equities fund tracking the Morningstar US Mid Cap Broad Value Index, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, IMCV returned 10.97%/yr vs 23.84%/yr for FTEC. Their 0.58 correlation means they have sometimes moved together and sometimes differently. IMCV charges 0.06%/yr vs 0.08%/yr for FTEC.

Performance

IMCV vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCV) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCV achieves a 17.00% return, which is significantly lower than FTEC's 20.47% return. Over the past 10 years, IMCV has underperformed FTEC with an annualized return of 10.97%, while FTEC has yielded a comparatively higher 23.84% annualized return.

IMCV

• 1D: -0.19%
• 1M: 2.38%
• 6M: 13.07%
• YTD: 17.00%
• 1Y: 27.75%
• 3Y*: 15.77%
• 5Y*: 10.87%
• 10Y*: 10.97%
• ALL TIME*: 9.92%

FTEC

• 1D: -0.35%
• 1M: -1.38%
• 6M: 21.39%
• YTD: 20.47%
• 1Y: 35.19%
• 3Y*: 26.88%
• 5Y*: 18.05%
• 10Y*: 23.84%
• ALL TIME*: 21.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTEC Fidelity MSCI Information Technology Index ETF	$82.97M	$78.72M	$94.67M
IMCV iShares Morningstar Mid-Cap ETF	$2.44M	$2.33M	$2.03M

IMCV vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCV iShares Morningstar Mid-Cap ETF	17.00%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-10.93%	12.60%
FTEC Fidelity MSCI Information Technology Index ETF	20.47%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between IMCV and FTEC is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (10Y) Provides a long-term view across more market conditions.	0.54
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.58

Over the past year, the correlation between IMCV and FTEC has dropped to 0.25 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

IMCV vs. FTEC - Sectors Allocation Comparison

Sectors	IMCV	FTEC
Financial Services	17.7%	0.5%
Industrials	11.6%	0.3%
Energy	11.4%	0.3%
Healthcare	10.3%	-
Utilities	10.1%	-
Technology	9.3%	98.6%
Consumer Defensive	8.6%	-
Consumer Cyclical	8.4%	0.1%
Real Estate	5.5%	-
Basic Materials	4.8%	0.0%
Communication Services	2.4%	0.5%

Return for Risk

IMCV vs. FTEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IMCV

IMCV Risk / Return Rank: 90
IMCV Sharpe Ratio Rank: 91
IMCV Sortino Ratio Rank: 92
IMCV Omega Ratio Rank: 89
IMCV Calmar Ratio Rank: 90
IMCV Martin Ratio Rank: 91

FTEC

FTEC Risk / Return Rank: 52
FTEC Sharpe Ratio Rank: 55
FTEC Sortino Ratio Rank: 52
FTEC Omega Ratio Rank: 51
FTEC Calmar Ratio Rank: 56
FTEC Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IMCV vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and Fidelity MSCI Information Technology Index ETF (FTEC). 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	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.31	+0.98
Sortino ratio: Return per unit of downside risk	3.33	1.83	+1.51
Omega ratio: Gain probability vs. loss probability	1.40	1.23	+0.18
Calmar ratio: Return relative to maximum drawdown	3.84	1.97	+1.88
Martin ratio: Return relative to average drawdown	14.72	5.31	+9.41

IMCV vs. FTEC - Sharpe Ratio Comparison

The current IMCV Sharpe Ratio is 2.29, which is higher than the FTEC Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of IMCV and FTEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IMCV vs. FTEC - Drawdown Comparison

The maximum IMCV drawdown since its inception was -64.74%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for IMCV and FTEC.

Drawdown Indicators

	IMCV	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-34.95%	-29.79%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-16.26%	+9.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.63%	-27.30%	+8.67%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-34.95%	+15.08%
Max Drawdown (10Y) Largest decline over 10 years	-46.33%	-34.95%	-11.38%
Current Drawdown Current decline from peak	-1.21%	-10.03%	+8.82%
Average Drawdown Average peak-to-trough decline	-8.36%	-5.59%	-2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	6.02%	-4.22%

Volatility

IMCV vs. FTEC - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCV) is 3.23%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 8.49%. This indicates that IMCV experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCV	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	8.49%	-5.26%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	20.19%	-12.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	24.35%	-12.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	25.87%	-9.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	24.98%	-5.43%

IMCV vs. FTEC - Expense Ratio Comparison

IMCV has a 0.06% expense ratio, which is lower than FTEC's 0.08% 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. FTEC - Dividend Comparison

IMCV's dividend yield for the trailing twelve months is around 1.81%, more than FTEC's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.37%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
IMCV iShares Morningstar Mid-Cap ETF	1.81%	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 FTEC in my portfolio?

IMCV and FTEC have a correlation of 0.25, 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 FTEC?

FTEC has higher volatility (8.49%) compared to IMCV (3.23%). In terms of maximum drawdown, IMCV dropped -64.74% vs FTEC's -34.95%.

Which ETF is better, IMCV or FTEC?

On 10-year performance, FTEC leads with 23.84% vs 10.97% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 3.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCV or FTEC?

Over the 10-year period, FTEC has performed better with a 23.84% return vs 10.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCV or FTEC?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.08% for FTEC.

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

IMCV has the higher dividend yield at 1.81%, compared with 0.37% for FTEC.

What is the main difference between IMCV and FTEC?

IMCV is categorized as Mid Cap Value Equities, while FTEC is Technology Equities. IMCV tracks Morningstar US Mid Cap Broad Value Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.06% for IMCV and 0.08% for FTEC.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.29 vs 1.31), 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.