IUSV vs. MGV

Last updated Jun 5, 2026

IUSV (iShares Core S&P U.S. Value ETF) and MGV (Vanguard Mega Cap Value ETF) are both Large Cap Value Equities funds - IUSV tracks the S&P 900 Value Index while MGV tracks the CRSP US Mega Cap Value Index. Both are passively managed. Over the past 10 years, IUSV returned 12.06%/yr vs 12.84%/yr for MGV. With a 0.96 correlation, they move nearly in lockstep. IUSV charges 0.04%/yr vs 0.05%/yr for MGV.

Performance

IUSV vs. MGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Value ETF (IUSV) and Vanguard Mega Cap Value ETF (MGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSV achieves a 8.61% return, which is significantly lower than MGV's 14.01% return. Over the past 10 years, IUSV has underperformed MGV with an annualized return of 12.06%, while MGV has yielded a comparatively higher 12.84% annualized return.

IUSV

• 1D: 0.91%
• 1M: 2.22%
• YTD: 8.61%
• 6M: 9.11%
• 1Y: 22.73%
• 3Y*: 16.12%
• 5Y*: 10.67%
• 10Y*: 12.06%

MGV

• 1D: 0.77%
• 1M: 4.80%
• YTD: 14.01%
• 6M: 14.90%
• 1Y: 28.63%
• 3Y*: 19.33%
• 5Y*: 12.10%
• 10Y*: 12.84%

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

IUSV vs. MGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSV iShares Core S&P U.S. Value ETF	8.61%	12.85%	12.18%	21.73%	-5.40%	25.22%	1.56%	31.47%	-9.21%	15.09%
MGV Vanguard Mega Cap Value ETF	14.01%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%

Correlation

The correlation between IUSV and MGV is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 28, 2007	0.96

The correlation between IUSV and MGV has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

IUSV vs. MGV - Sectors Allocation Comparison

Sectors	IUSV	MGV
Technology	20.8%	14.2%
Financial Services	15.0%	23.9%
Industrials	11.2%	13.7%
Consumer Cyclical	11.1%	3.7%
Healthcare	11.0%	16.6%
Consumer Defensive	8.8%	11.9%
Energy	7.2%	6.6%
Utilities	4.3%	2.6%
Real Estate	3.7%	1.2%
Basic Materials	3.6%	2.4%
Communication Services	3.1%	3.4%

Return for Risk

IUSV vs. MGV — Risk / Return Rank

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

IUSV

IUSV Risk / Return Rank: 72
IUSV Sharpe Ratio Rank: 71
IUSV Sortino Ratio Rank: 72
IUSV Omega Ratio Rank: 70
IUSV Calmar Ratio Rank: 73
IUSV Martin Ratio Rank: 74

MGV

MGV Risk / Return Rank: 87
MGV Sharpe Ratio Rank: 88
MGV Sortino Ratio Rank: 90
MGV Omega Ratio Rank: 87
MGV Calmar Ratio Rank: 84
MGV Martin Ratio Rank: 84

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.

IUSV vs. MGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Value ETF (IUSV) and Vanguard Mega Cap Value ETF (MGV). 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.

	IUSV	MGV	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.93	-0.64
Sortino ratio: Return per unit of downside risk	3.20	4.16	-0.95
Omega ratio: Gain probability vs. loss probability	1.41	1.53	-0.12
Calmar ratio: Return relative to maximum drawdown	3.59	4.48	-0.89
Martin ratio: Return relative to average drawdown	13.74	17.05	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSV vs. MGV - Sharpe Ratio Comparison

The current IUSV Sharpe Ratio is 2.29, which is comparable to the MGV Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of IUSV and MGV, 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

	IUSV	MGV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.93	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.90	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.79	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.48	+0.12

Drawdowns

IUSV vs. MGV - Drawdown Comparison

The maximum IUSV drawdown since its inception was -56.88%, roughly equal to the maximum MGV drawdown of -55.87%. Use the drawdown chart below to compare losses from any high point for IUSV and MGV.

Drawdown Indicators

	IUSV	MGV	Difference
Max Drawdown Largest peak-to-trough decline	-56.88%	-55.87%	-1.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-6.42%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-13.18%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-17.95%	-16.54%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	-37.54%	-35.41%	-2.13%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.29%	-7.69%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.68%	-0.02%

Volatility

IUSV vs. MGV - Volatility Comparison

The current volatility for iShares Core S&P U.S. Value ETF (IUSV) is 2.13%, while Vanguard Mega Cap Value ETF (MGV) has a volatility of 2.37%. This indicates that IUSV experiences smaller price fluctuations and is considered to be less risky than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSV	MGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	2.37%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	7.49%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.00%	9.85%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	13.57%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	16.33%	+0.74%

IUSV vs. MGV - Expense Ratio Comparison

IUSV has a 0.04% expense ratio, which is lower than MGV's 0.05% 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

IUSV vs. MGV - Dividend Comparison

IUSV's dividend yield for the trailing twelve months is around 1.67%, less than MGV's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSV iShares Core S&P U.S. Value ETF	1.67%	1.78%	2.15%	1.75%	2.22%	1.87%	2.40%	2.19%	2.67%	1.93%	4.44%	7.63%
MGV Vanguard Mega Cap Value ETF	1.87%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%

Frequently Asked Questions

Can I hold both IUSV and MGV in my portfolio?

With a correlation of 0.90, IUSV and MGV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IUSV or MGV?

MGV has higher volatility (2.37%) compared to IUSV (2.13%). In terms of maximum drawdown, IUSV dropped -56.88% vs MGV's -55.87%.

Which ETF is better, IUSV or MGV?

On 10-year performance, MGV leads with 12.84% vs 12.06% for IUSV. On fees, IUSV is cheaper at 0.04% per year. On volatility, IUSV has been the lower-risk option at 2.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUSV or MGV?

Over the 10-year period, MGV has performed better with a 12.84% return vs 12.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUSV or MGV?

IUSV is cheaper with a 0.04% expense ratio, compared with 0.05% for MGV.

Which ETF pays a higher dividend yield, IUSV or MGV?

MGV has the higher dividend yield at 1.87%, compared with 1.67% for IUSV.

What is the main difference between IUSV and MGV?

IUSV tracks S&P 900 Value Index, while MGV tracks CRSP US Mega Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.04% for IUSV and 0.05% for MGV.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.93 vs 2.29), 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.