JPUS vs. ILCV

Last updated Jun 4, 2026

JPUS (JPMorgan Diversified Return US Equity ETF) and ILCV (iShares Morningstar Value ETF) are both exchange-traded funds - JPUS is a Large Cap Blend Equities fund tracking the JPMorgan Diversified Factor US Equity Index, while ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index. Both are passively managed. Over the past 10 years, JPUS returned 11.49%/yr vs 11.68%/yr for ILCV. Their correlation of 0.87 suggests significant overlap in exposure. JPUS charges 0.18%/yr vs 0.04%/yr for ILCV.

Performance

JPUS vs. ILCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Diversified Return US Equity ETF (JPUS) and iShares Morningstar Value ETF (ILCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPUS achieves a 11.55% return, which is significantly higher than ILCV's 7.75% return. Both investments have delivered pretty close results over the past 10 years, with JPUS having a 11.49% annualized return and ILCV not far ahead at 11.68%.

JPUS

• 1D: 0.04%
• 1M: 1.45%
• YTD: 11.55%
• 6M: 11.59%
• 1Y: 20.73%
• 3Y*: 15.97%
• 5Y*: 9.40%
• 10Y*: 11.49%

ILCV

• 1D: -0.44%
• 1M: 2.76%
• YTD: 7.75%
• 6M: 7.41%
• 1Y: 26.58%
• 3Y*: 18.61%
• 5Y*: 11.42%
• 10Y*: 11.68%

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

JPUS vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPUS JPMorgan Diversified Return US Equity ETF	11.55%	11.18%	13.48%	10.98%	-8.47%	29.09%	7.54%	25.50%	-6.14%	20.58%
ILCV iShares Morningstar Value ETF	7.75%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	25.19%	-6.24%	15.00%

Correlation

The correlation between JPUS and ILCV is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015	0.87

The correlation between JPUS and ILCV has been stable across timeframes, ranging from 0.85 to 0.95 - a consistent structural relationship.

JPUS vs. ILCV - Sectors Allocation Comparison

Sectors	JPUS	ILCV
Technology	11.6%	23.8%
Healthcare	11.5%	11.5%
Consumer Defensive	11.3%	7.6%
Real Estate	10.5%	2.0%
Industrials	10.4%	8.8%
Utilities	9.5%	3.5%
Consumer Cyclical	8.6%	9.5%
Financial Services	8.0%	16.5%
Energy	7.3%	6.0%
Basic Materials	6.8%	2.4%
Communication Services	4.5%	8.0%

Return for Risk

JPUS vs. ILCV — Risk / Return Rank

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

JPUS

JPUS Risk / Return Rank: 60
JPUS Sharpe Ratio Rank: 59
JPUS Sortino Ratio Rank: 61
JPUS Omega Ratio Rank: 56
JPUS Calmar Ratio Rank: 60
JPUS Martin Ratio Rank: 66

ILCV

ILCV Risk / Return Rank: 82
ILCV Sharpe Ratio Rank: 82
ILCV Sortino Ratio Rank: 84
ILCV Omega Ratio Rank: 81
ILCV Calmar Ratio Rank: 79
ILCV Martin Ratio Rank: 83

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.

JPUS vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Diversified Return US Equity ETF (JPUS) and iShares Morningstar Value ETF (ILCV). 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.

	JPUS	ILCV	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.72	-0.72
Sortino ratio: Return per unit of downside risk	2.90	3.85	-0.95
Omega ratio: Gain probability vs. loss probability	1.35	1.50	-0.15
Calmar ratio: Return relative to maximum drawdown	3.02	4.08	-1.06
Martin ratio: Return relative to average drawdown	12.12	16.87	-4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPUS vs. ILCV - Sharpe Ratio Comparison

The current JPUS Sharpe Ratio is 2.00, which is comparable to the ILCV Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of JPUS and ILCV, 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

	JPUS	ILCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.72	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.81	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.70	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.46	+0.26

Drawdowns

JPUS vs. ILCV - Drawdown Comparison

The maximum JPUS drawdown since its inception was -38.69%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for JPUS and ILCV.

Drawdown Indicators

	JPUS	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-38.69%	-58.63%	+19.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-6.55%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.96%	-14.95%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	-18.58%	-0.46%
Max Drawdown (10Y) Largest decline over 10 years	-38.69%	-35.53%	-3.16%
Current Drawdown Current decline from peak	-0.01%	-0.60%	+0.59%
Average Drawdown Average peak-to-trough decline	-3.83%	-9.32%	+5.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.58%	+0.14%

Volatility

JPUS vs. ILCV - Volatility Comparison

JPMorgan Diversified Return US Equity ETF (JPUS) has a higher volatility of 2.90% compared to iShares Morningstar Value ETF (ILCV) at 2.01%. This indicates that JPUS's price experiences larger fluctuations and is considered to be riskier than ILCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPUS	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	2.01%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	6.97%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	9.82%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	14.21%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	16.66%	+0.10%

JPUS vs. ILCV - Expense Ratio Comparison

JPUS has a 0.18% expense ratio, which is higher than ILCV'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

JPUS vs. ILCV - Dividend Comparison

JPUS's dividend yield for the trailing twelve months is around 2.04%, more than ILCV's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCV iShares Morningstar Value ETF	1.63%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%
JPUS JPMorgan Diversified Return US Equity ETF	2.04%	2.27%	2.12%	2.26%	2.35%	1.67%	1.94%	2.09%	2.16%	1.25%	0.77%	0.48%

Frequently Asked Questions

Can I hold both JPUS and ILCV in my portfolio?

JPUS and ILCV 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, JPUS or ILCV?

JPUS has higher volatility (2.90%) compared to ILCV (2.01%). In terms of maximum drawdown, JPUS dropped -38.69% vs ILCV's -58.63%.

Which ETF is better, JPUS or ILCV?

On 10-year performance, ILCV leads with 11.68% vs 11.49% for JPUS. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPUS or ILCV?

Over the 10-year period, ILCV has performed better with a 11.68% return vs 11.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPUS or ILCV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.18% for JPUS.

Which ETF pays a higher dividend yield, JPUS or ILCV?

JPUS has the higher dividend yield at 2.04%, compared with 1.63% for ILCV.

What is the main difference between JPUS and ILCV?

JPUS is categorized as Large Cap Blend Equities, while ILCV is Large Cap Value Equities. JPUS tracks JPMorgan Diversified Factor US Equity Index, while ILCV tracks Morningstar US Large-Mid Cap Broad Value Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.18% for JPUS and 0.04% for ILCV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.72 vs 2.00), 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.