IMCV vs. NIXT
IMCV (iShares Morningstar Mid-Cap ETF) and NIXT (Research Affiliates Deletions ETF) are both Mid Cap Value Equities funds - IMCV tracks the Morningstar US Mid Cap Broad Value Index while NIXT tracks the Research Affiliates Deletions Index. Both are passively managed. Over the past year, IMCV returned 28.34% vs 42.33% for NIXT. Their correlation of 0.81 means they have usually moved in the same direction. IMCV charges 0.06%/yr vs 0.09%/yr for NIXT.
Performance
IMCV vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, IMCV achieves a 17.54% return, which is significantly lower than NIXT's 29.37% return.
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%
NIXT
- 1D
- 2.41%
- 1M
- 2.99%
- 6M
- 23.66%
- YTD
- 29.37%
- 1Y
- 42.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.47M | $2.33M | $2.03M | |
| $87.68K | $73.92K | $68.31K |
IMCV vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IMCV iShares Morningstar Mid-Cap ETF | 17.54% | 13.52% | 1.27% |
NIXT Research Affiliates Deletions ETF | 29.37% | 4.94% | 4.60% |
Correlation
The correlation between IMCV and NIXT is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.81 |
The correlation between IMCV and NIXT has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
IMCV vs. NIXT — Risk / Return Rank
IMCV
NIXT
IMCV vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and Research Affiliates Deletions ETF (NIXT). 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 | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.34 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 3.63 | +0.49 |
| Martin ratioReturn relative to average drawdown | 15.79 | 14.20 | +1.59 |
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Drawdowns
IMCV vs. NIXT - Drawdown Comparison
The maximum IMCV drawdown since its inception was -64.74%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for IMCV and NIXT.
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Drawdown Indicators
| IMCV | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -27.75% | -36.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -11.71% | +4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -18.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.33% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | 0.00% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -8.36% | -5.55% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 2.99% | -1.19% |
Volatility
IMCV vs. NIXT - Volatility Comparison
The current volatility for iShares Morningstar Mid-Cap ETF (IMCV) is 2.99%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.74%. This indicates that IMCV experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMCV | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 5.74% | -2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 14.75% | -6.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.54% | 20.85% | -9.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.52% | 23.01% | -6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 23.01% | -3.46% |
IMCV vs. NIXT - Expense Ratio Comparison
IMCV has a 0.06% expense ratio, which is lower than NIXT's 0.09% 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. NIXT - Dividend Comparison
IMCV's dividend yield for the trailing twelve months is around 1.80%, more than NIXT's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NIXT Research Affiliates Deletions ETF | 1.27% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IMCV and NIXT have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.74%) compared to IMCV (2.99%). In terms of maximum drawdown, IMCV dropped -64.74% vs NIXT's -27.75%.
On 1-year performance, NIXT leads with 42.33% vs 28.34% for IMCV. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 42.33% return vs 28.34%. 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 0.09% for NIXT.
IMCV has the higher dividend yield at 1.80%, compared with 1.27% for NIXT.
IMCV tracks Morningstar US Mid Cap Broad Value Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: iShares and Alpha Architect. Their fees differ too: 0.06% for IMCV and 0.09% for NIXT.
IMCV currently has the higher Sharpe Ratio (2.47 vs 2.04), 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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