MDLV vs. ILCV

Last updated Jun 5, 2026

MDLV (Morgan Dempsey Large Cap Value ETF) and ILCV (iShares Morningstar Value ETF) are both Large Cap Value Equities funds. MDLV is actively managed, while ILCV is passively managed. Over the past 3 years, MDLV returned 13.07%/yr vs 19.11%/yr for ILCV. A 0.78 correlation means they provide meaningful diversification when combined. MDLV charges 0.58%/yr vs 0.04%/yr for ILCV.

Performance

MDLV vs. ILCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Dempsey Large Cap Value ETF (MDLV) 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, MDLV achieves a 10.95% return, which is significantly higher than ILCV's 8.79% return.

MDLV

• 1D: 0.67%
• 1M: 2.12%
• YTD: 10.95%
• 6M: 11.88%
• 1Y: 21.29%
• 3Y*: 13.07%
• 5Y*: —
• 10Y*: —

ILCV

• 1D: 0.97%
• 1M: 2.91%
• YTD: 8.79%
• 6M: 8.78%
• 1Y: 28.28%
• 3Y*: 19.11%
• 5Y*: 11.63%
• 10Y*: 11.69%

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

MDLV vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MDLV Morgan Dempsey Large Cap Value ETF	10.95%	13.30%	10.16%	0.68%
ILCV iShares Morningstar Value ETF	8.79%	18.79%	17.03%	13.63%

Correlation

The correlation between MDLV and ILCV is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023	0.78

The correlation between MDLV and ILCV has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.

MDLV vs. ILCV - Sectors Allocation Comparison

Sectors	MDLV	ILCV
Utilities	15.2%	3.5%
Industrials	15.0%	8.8%
Financial Services	14.9%	16.5%
Energy	14.4%	6.0%
Technology	9.3%	23.8%
Consumer Defensive	8.2%	7.6%
Healthcare	7.9%	11.5%
Communication Services	6.4%	8.0%
Consumer Cyclical	3.9%	9.5%
Basic Materials	2.6%	2.4%
Real Estate	2.2%	2.0%

Return for Risk

MDLV vs. ILCV — Risk / Return Rank

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

MDLV

MDLV Risk / Return Rank: 80
MDLV Sharpe Ratio Rank: 77
MDLV Sortino Ratio Rank: 81
MDLV Omega Ratio Rank: 72
MDLV Calmar Ratio Rank: 88
MDLV Martin Ratio Rank: 81

ILCV

ILCV Risk / Return Rank: 86
ILCV Sharpe Ratio Rank: 87
ILCV Sortino Ratio Rank: 89
ILCV Omega Ratio Rank: 86
ILCV Calmar Ratio Rank: 83
ILCV Martin Ratio Rank: 86

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.

MDLV vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Dempsey Large Cap Value ETF (MDLV) 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.

	MDLV	ILCV	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.89	-0.45
Sortino ratio: Return per unit of downside risk	3.56	4.07	-0.51
Omega ratio: Gain probability vs. loss probability	1.42	1.53	-0.11
Calmar ratio: Return relative to maximum drawdown	5.01	4.34	+0.68
Martin ratio: Return relative to average drawdown	15.75	17.95	-2.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDLV vs. ILCV - Sharpe Ratio Comparison

The current MDLV Sharpe Ratio is 2.44, which is comparable to the ILCV Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of MDLV 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

	MDLV	ILCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.89	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.46	+0.62

Drawdowns

MDLV vs. ILCV - Drawdown Comparison

The maximum MDLV drawdown since its inception was -10.71%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for MDLV and ILCV.

Drawdown Indicators

	MDLV	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-10.71%	-58.63%	+47.92%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-6.55%	+2.28%
Max Drawdown (3Y) Largest decline over 3 years	-10.71%	-14.95%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.53%	—
Current Drawdown Current decline from peak	-0.42%	0.00%	-0.42%
Average Drawdown Average peak-to-trough decline	-2.29%	-9.32%	+7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	1.58%	-0.22%

Volatility

MDLV vs. ILCV - Volatility Comparison

Morgan Dempsey Large Cap Value ETF (MDLV) has a higher volatility of 2.83% compared to iShares Morningstar Value ETF (ILCV) at 2.06%. This indicates that MDLV'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

	MDLV	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	2.06%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	6.58%	7.03%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	8.77%	9.85%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.51%	14.22%	-3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.51%	16.66%	-6.15%

MDLV vs. ILCV - Expense Ratio Comparison

MDLV has a 0.58% expense ratio, which is higher than ILCV's 0.04% expense ratio.

Dividends

MDLV vs. ILCV - Dividend Comparison

MDLV's dividend yield for the trailing twelve months is around 2.78%, more than ILCV's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCV iShares Morningstar Value ETF	1.61%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%
MDLV Morgan Dempsey Large Cap Value ETF	2.78%	3.00%	2.78%	2.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDLV and ILCV in my portfolio?

MDLV and ILCV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDLV or ILCV?

MDLV has higher volatility (2.83%) compared to ILCV (2.06%). In terms of maximum drawdown, MDLV dropped -10.71% vs ILCV's -58.63%.

Which ETF is better, MDLV or ILCV?

On 3-year performance, ILCV leads with 19.11% vs 13.07% for MDLV. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDLV or ILCV?

Over the 3-year period, ILCV has performed better with a 19.11% return vs 13.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDLV or ILCV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.58% for MDLV.

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

MDLV has the higher dividend yield at 2.78%, compared with 1.61% for ILCV.

What is the main difference between MDLV and ILCV?

They also come from different issuers: Morgan Dempsey and iShares. Their fees differ too: 0.58% for MDLV and 0.04% for ILCV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.89 vs 2.44), 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.