IMCV vs. IMCB

Last updated Aug 4, 2026

IMCV (iShares Morningstar Mid-Cap ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both exchange-traded funds - IMCV is a Mid Cap Value Equities fund tracking the Morningstar US Mid Cap Broad Value Index, while IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index. Both are passively managed. Over the past 10 years, IMCV returned 10.76%/yr vs 11.25%/yr for IMCB. Their correlation of 0.90 means they have usually moved in the same direction. IMCV charges 0.06%/yr vs 0.04%/yr for IMCB.

Performance

IMCV vs. IMCB - Performance Comparison

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

Returns By Period

In the year-to-date period, IMCV achieves a 17.54% return, which is significantly lower than IMCB's 19.07% return. Both investments have delivered pretty close results over the past 10 years, with IMCV having a 10.76% annualized return and IMCB not far ahead at 11.25%.

IMCV

• 1D: 0.47%
• 1M: 2.86%
• 6M: 13.16%
• YTD: 17.54%
• 1Y: 28.34%
• 3Y*: 16.56%
• 5Y*: 11.15%
• 10Y*: 10.76%
• ALL TIME*: 9.94%

IMCB

• 1D: 1.01%
• 1M: 1.00%
• 6M: 14.82%
• YTD: 19.07%
• 1Y: 24.45%
• 3Y*: 17.04%
• 5Y*: 9.36%
• 10Y*: 11.25%
• ALL TIME*: 10.44%

*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)
IMCB iShares Morningstar Mid-Cap ETF	$3.07M	$3.70M	$3.21M
IMCV iShares Morningstar Mid-Cap ETF	$2.47M	$2.33M	$2.03M

IMCV vs. IMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCV iShares Morningstar Mid-Cap ETF	17.54%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-10.93%	12.60%
IMCB iShares Morningstar Mid-Cap ETF	19.07%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	19.70%

Correlation

The correlation between IMCV and IMCB is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004	0.90

The correlation between IMCV and IMCB has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

IMCV vs. IMCB - Sectors Allocation Comparison

Sectors	IMCV	IMCB
Financial Services	17.7%	14.1%
Industrials	11.6%	18.4%
Energy	11.4%	7.0%
Healthcare	10.3%	8.8%
Utilities	10.1%	6.5%
Technology	9.3%	17.9%
Consumer Defensive	8.6%	5.1%
Consumer Cyclical	8.4%	9.7%
Real Estate	5.5%	4.5%
Basic Materials	4.8%	5.5%
Communication Services	2.4%	2.4%

Return for Risk

IMCV vs. IMCB — Risk / Return Rank

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

IMCV

IMCV Risk / Return Rank: 92
IMCV Sharpe Ratio Rank: 92
IMCV Sortino Ratio Rank: 93
IMCV Omega Ratio Rank: 91
IMCV Calmar Ratio Rank: 91
IMCV Martin Ratio Rank: 91

IMCB

IMCB Risk / Return Rank: 80
IMCB Sharpe Ratio Rank: 79
IMCB Sortino Ratio Rank: 80
IMCB Omega Ratio Rank: 78
IMCB Calmar Ratio Rank: 81
IMCB Martin Ratio Rank: 85

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. IMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and iShares Morningstar Mid-Cap ETF (IMCB). 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	IMCB	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.89	+0.59
Sortino ratio: Return per unit of downside risk	3.58	2.66	+0.92
Omega ratio: Gain probability vs. loss probability	1.44	1.34	+0.10
Calmar ratio: Return relative to maximum drawdown	4.12	3.05	+1.07
Martin ratio: Return relative to average drawdown	15.79	12.23	+3.56

IMCV vs. IMCB - Sharpe Ratio Comparison

The current IMCV Sharpe Ratio is 2.47, which is higher than the IMCB Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of IMCV and IMCB, 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. IMCB - Drawdown Comparison

The maximum IMCV drawdown since its inception was -64.74%, which is greater than IMCB's maximum drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for IMCV and IMCB.

Drawdown Indicators

	IMCV	IMCB	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-58.80%	-5.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-8.05%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-18.63%	-19.80%	+1.17%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-25.15%	+5.28%
Max Drawdown (10Y) Largest decline over 10 years	-46.33%	-40.99%	-5.34%
Current Drawdown Current decline from peak	-0.75%	0.00%	-0.75%
Average Drawdown Average peak-to-trough decline	-8.36%	-7.68%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	2.00%	-0.20%

Volatility

IMCV vs. IMCB - Volatility Comparison

iShares Morningstar Mid-Cap ETF (IMCV) has a higher volatility of 2.99% compared to iShares Morningstar Mid-Cap ETF (IMCB) at 2.51%. This indicates that IMCV's price experiences larger fluctuations and is considered to be riskier than IMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCV	IMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	2.51%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	9.95%	-1.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	13.05%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	17.57%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	19.61%	-0.06%

IMCV vs. IMCB - Expense Ratio Comparison

IMCV has a 0.06% expense ratio, which is higher than IMCB's 0.04% expense ratio. However, 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. IMCB - Dividend Comparison

IMCV's dividend yield for the trailing twelve months is around 1.80%, more than IMCB's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.20%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%
IMCV iShares Morningstar Mid-Cap ETF	1.80%	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 IMCB in my portfolio?

IMCV and IMCB have a correlation of 0.85, 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 IMCB?

IMCV has higher volatility (2.99%) compared to IMCB (2.51%). In terms of maximum drawdown, IMCV dropped -64.74% vs IMCB's -58.80%.

Which ETF is better, IMCV or IMCB?

On 10-year performance, IMCB leads with 11.25% vs 10.76% for IMCV. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCV or IMCB?

Over the 10-year period, IMCB has performed better with a 11.25% return vs 10.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCV or IMCB?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.06% for IMCV.

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

IMCV has the higher dividend yield at 1.80%, compared with 1.20% for IMCB.

What is the main difference between IMCV and IMCB?

IMCV is categorized as Mid Cap Value Equities, while IMCB is Mid Cap Blend Equities. IMCV tracks Morningstar US Mid Cap Broad Value Index, while IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index. Their fees differ too: 0.06% for IMCV and 0.04% for IMCB.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.47 vs 1.89), 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.