IVOG vs. IMCG
IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both Mid Cap Growth Equities funds - IVOG tracks the S&P MidCap 400 Growth Index while IMCG tracks the Morningstar US Mid Cap Broad Growth Index. Both are passively managed. Over the past 10 years, IVOG returned 10.91%/yr vs 14.11%/yr for IMCG. Their correlation of 0.90 means they have usually moved in the same direction. IVOG charges 0.10%/yr vs 0.06%/yr for IMCG.
Performance
IVOG vs. IMCG - Performance Comparison
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Returns By Period
In the year-to-date period, IVOG achieves a 15.87% return, which is significantly lower than IMCG's 19.44% return. Over the past 10 years, IVOG has underperformed IMCG with an annualized return of 10.91%, while IMCG has yielded a comparatively higher 14.11% annualized return.
IVOG
- 1D
- -0.07%
- 1M
- -2.89%
- 6M
- 11.25%
- YTD
- 15.87%
- 1Y
- 22.81%
- 3Y*
- 13.84%
- 5Y*
- 7.47%
- 10Y*
- 10.91%
- ALL TIME*
- 12.22%
IMCG
- 1D
- -0.08%
- 1M
- -2.22%
- 6M
- 16.42%
- YTD
- 19.44%
- 1Y
- 19.29%
- 3Y*
- 15.82%
- 5Y*
- 7.06%
- 10Y*
- 14.11%
- ALL TIME*
- 11.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.72M | $8.89M | $9.03M | |
| $2.19M | $2.83M | $3.26M |
IVOG vs. IMCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 15.87% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
IMCG iShares Morningstar Mid-Cap Growth ETF | 19.44% | 6.55% | 18.14% | 20.73% | -25.79% | 15.39% | 45.64% | 35.70% | -3.68% | 25.57% |
Correlation
The correlation between IVOG and IMCG is 0.93, 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. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.90 |
The correlation between IVOG and IMCG has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
IVOG vs. IMCG — Risk / Return Rank
IVOG
IMCG
IVOG vs. IMCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) and iShares Morningstar Mid-Cap Growth ETF (IMCG). 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.
| IVOG | IMCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 1.70 | +0.50 |
| Martin ratioReturn relative to average drawdown | 7.98 | 6.41 | +1.57 |
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Drawdowns
IVOG vs. IMCG - Drawdown Comparison
The maximum IVOG drawdown since its inception was -39.32%, smaller than the maximum IMCG drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for IVOG and IMCG.
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Drawdown Indicators
| IVOG | IMCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.32% | -58.96% | +19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -10.17% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -25.61% | -21.92% | -3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -35.08% | +5.77% |
Max Drawdown (10Y)Largest decline over 10 years | -39.32% | -35.08% | -4.24% |
Current DrawdownCurrent decline from peak | -4.80% | -3.25% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -9.17% | +3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.70% | -0.03% |
Volatility
IVOG vs. IMCG - Volatility Comparison
Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a higher volatility of 4.23% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 3.48%. This indicates that IVOG's price experiences larger fluctuations and is considered to be riskier than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOG | IMCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.48% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 14.04% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.93% | 16.92% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.70% | 20.36% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 20.55% | +0.06% |
IVOG vs. IMCG - Expense Ratio Comparison
IVOG has a 0.10% expense ratio, which is higher than IMCG's 0.06% 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
IVOG vs. IMCG - Dividend Comparison
IVOG's dividend yield for the trailing twelve months is around 0.56%, less than IMCG's 0.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCG iShares Morningstar Mid-Cap Growth ETF | 0.63% | 0.78% | 0.78% | 0.85% | 0.91% | 0.41% | 0.09% | 0.30% | 0.35% | 0.45% | 0.52% | 0.38% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.56% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
Frequently Asked Questions
With a correlation of 0.93, IVOG and IMCG 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.
IVOG has higher volatility (4.23%) compared to IMCG (3.48%). In terms of maximum drawdown, IVOG dropped -39.32% vs IMCG's -58.96%.
On 10-year performance, IMCG leads with 14.11% vs 10.91% for IVOG. On fees, IMCG is cheaper at 0.06% per year. On volatility, IMCG has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IMCG has performed better with a 14.11% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMCG is cheaper with a 0.06% expense ratio, compared with 0.10% for IVOG.
IMCG has the higher dividend yield at 0.63%, compared with 0.56% for IVOG.
IVOG tracks S&P MidCap 400 Growth Index, while IMCG tracks Morningstar US Mid Cap Broad Growth Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for IVOG and 0.06% for IMCG.
IVOG currently has the higher Sharpe Ratio (1.20 vs 1.02), 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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