IMCV vs. TPHD

Last updated Jun 4, 2026

IMCV (iShares Morningstar Mid-Cap ETF) and TPHD (Timothy Plan High Dividend Stock ETF) are both Mid Cap Value Equities funds - IMCV tracks the Morningstar US Mid Cap Broad Value Index while TPHD tracks the Victory US Large Cap High Dividend Volatility Weighted BRI Index. Both are passively managed. Over the past 5 years, IMCV returned 8.69%/yr vs 8.52%/yr for TPHD. Their correlation of 0.92 suggests significant overlap in exposure. IMCV charges 0.06%/yr vs 0.52%/yr for TPHD.

Performance

IMCV vs. TPHD - Performance Comparison

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

Returns By Period

In the year-to-date period, IMCV achieves a 9.96% return, which is significantly higher than TPHD's 8.56% return.

IMCV

• 1D: -0.21%
• 1M: 2.12%
• YTD: 9.96%
• 6M: 11.32%
• 1Y: 23.41%
• 3Y*: 16.66%
• 5Y*: 8.69%
• 10Y*: 10.40%

TPHD

• 1D: 0.03%
• 1M: -1.27%
• YTD: 8.56%
• 6M: 7.69%
• 1Y: 13.23%
• 3Y*: 13.21%
• 5Y*: 8.52%
• 10Y*: —

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

IMCV vs. TPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IMCV iShares Morningstar Mid-Cap ETF	9.96%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	8.44%
TPHD Timothy Plan High Dividend Stock ETF	8.56%	8.28%	12.14%	8.86%	-1.91%	27.98%	-1.30%	10.35%

Correlation

The correlation between IMCV and TPHD is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.92

The correlation between IMCV and TPHD has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

IMCV vs. TPHD - Sectors Allocation Comparison

Sectors	IMCV	TPHD
Financial Services	15.6%	12.6%
Energy	12.5%	15.4%
Industrials	12.1%	18.3%
Utilities	10.0%	24.1%
Technology	9.1%	8.8%
Consumer Defensive	8.9%	4.2%
Consumer Cyclical	8.7%	8.9%
Healthcare	8.5%	2.5%
Basic Materials	6.5%	5.3%
Real Estate	5.6%	0.0%
Communication Services	2.5%	0.0%

Return for Risk

IMCV vs. TPHD — Risk / Return Rank

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

IMCV

IMCV Risk / Return Rank: 63
IMCV Sharpe Ratio Rank: 59
IMCV Sortino Ratio Rank: 62
IMCV Omega Ratio Rank: 58
IMCV Calmar Ratio Rank: 68
IMCV Martin Ratio Rank: 69

TPHD

TPHD Risk / Return Rank: 38
TPHD Sharpe Ratio Rank: 35
TPHD Sortino Ratio Rank: 36
TPHD Omega Ratio Rank: 33
TPHD Calmar Ratio Rank: 44
TPHD Martin Ratio Rank: 39

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. TPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) and Timothy Plan High Dividend Stock ETF (TPHD). 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	TPHD	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.27	+0.75
Sortino ratio: Return per unit of downside risk	2.94	1.92	+1.02
Omega ratio: Gain probability vs. loss probability	1.36	1.22	+0.13
Calmar ratio: Return relative to maximum drawdown	3.41	2.19	+1.22
Martin ratio: Return relative to average drawdown	12.72	6.20	+6.51
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. TPHD - Sharpe Ratio Comparison

The current IMCV Sharpe Ratio is 2.02, which is higher than the TPHD Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of IMCV and TPHD, 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	TPHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	1.27	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.59	-0.06
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	0.51	-0.04

Drawdowns

IMCV vs. TPHD - Drawdown Comparison

The maximum IMCV drawdown since its inception was -64.74%, which is greater than TPHD's maximum drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for IMCV and TPHD.

Drawdown Indicators

	IMCV	TPHD	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-41.71%	-23.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-6.08%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.63%	-15.89%	-2.74%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-16.54%	-3.33%
Max Drawdown (10Y) Largest decline over 10 years	-46.33%	—	—
Current Drawdown Current decline from peak	-0.21%	-3.25%	+3.04%
Average Drawdown Average peak-to-trough decline	-8.42%	-4.73%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.14%	-0.29%

Volatility

IMCV vs. TPHD - Volatility Comparison

iShares Morningstar Mid-Cap ETF (IMCV) and Timothy Plan High Dividend Stock ETF (TPHD) have volatilities of 2.56% and 2.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCV	TPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	2.60%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	7.35%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	10.48%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	14.60%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	19.63%	+0.03%

IMCV vs. TPHD - Expense Ratio Comparison

IMCV has a 0.06% expense ratio, which is lower than TPHD's 0.52% expense ratio.

Dividends

IMCV vs. TPHD - Dividend Comparison

IMCV's dividend yield for the trailing twelve months is around 1.94%, less than TPHD's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TPHD Timothy Plan High Dividend Stock ETF	2.00%	2.10%	2.09%	2.19%	2.38%	1.86%	2.38%	1.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IMCV and TPHD in my portfolio?

IMCV and TPHD have a correlation of 0.88, 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 TPHD?

TPHD has higher volatility (2.60%) compared to IMCV (2.56%). In terms of maximum drawdown, IMCV dropped -64.74% vs TPHD's -41.71%.

Which ETF is better, IMCV or TPHD?

On 5-year performance, IMCV leads with 8.69% vs 8.52% for TPHD. On fees, IMCV is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMCV or TPHD?

Over the 5-year period, IMCV has performed better with a 8.69% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMCV or TPHD?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.52% for TPHD.

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

TPHD has the higher dividend yield at 2.00%, compared with 1.94% for IMCV.

What is the main difference between IMCV and TPHD?

IMCV tracks Morningstar US Mid Cap Broad Value Index, while TPHD tracks Victory US Large Cap High Dividend Volatility Weighted BRI Index. They also come from different issuers: iShares and Timothy Plan. Their fees differ too: 0.06% for IMCV and 0.52% for TPHD.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.02 vs 1.27), 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.