MERDX vs. ILCB
MERDX (Meridian Growth Fund) and ILCB (iShares Morningstar U.S. Equity ETF) are both funds - MERDX is a Small Cap Growth Equities fund managed by Meridian, while ILCB is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Index. Over the past 10 years, MERDX returned 7.26%/yr vs 15.13%/yr for ILCB. Their correlation of 0.82 suggests significant overlap in exposure. MERDX charges 0.85%/yr vs 0.03%/yr for ILCB.
Performance
MERDX vs. ILCB - Performance Comparison
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Returns By Period
In the year-to-date period, MERDX achieves a 6.33% return, which is significantly lower than ILCB's 10.02% return. Over the past 10 years, MERDX has underperformed ILCB with an annualized return of 7.26%, while ILCB has yielded a comparatively higher 15.13% annualized return.
MERDX
- 1D
- 2.31%
- 1M
- 2.47%
- YTD
- 6.33%
- 6M
- 3.49%
- 1Y
- 7.11%
- 3Y*
- 2.58%
- 5Y*
- -2.06%
- 10Y*
- 7.26%
ILCB
- 1D
- -0.40%
- 1M
- 0.36%
- YTD
- 10.02%
- 6M
- 9.47%
- 1Y
- 26.73%
- 3Y*
- 21.60%
- 5Y*
- 13.05%
- 10Y*
- 15.13%
MERDX vs. ILCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MERDX Meridian Growth Fund | 6.33% | -6.25% | 6.42% | 15.29% | -29.13% | 15.58% | 24.93% | 27.67% | -7.30% | 25.64% |
ILCB iShares Morningstar U.S. Equity ETF | 10.02% | 17.70% | 24.96% | 26.91% | -19.48% | 24.07% | 19.40% | 32.68% | -8.51% | 22.09% |
Correlation
The correlation between MERDX and ILCB is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004 | 0.82 |
The correlation between MERDX and ILCB shifts across timeframes, from 0.72 (3 years) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MERDX vs. ILCB — Risk / Return Rank
MERDX
ILCB
MERDX vs. ILCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Meridian Growth Fund (MERDX) and iShares Morningstar U.S. Equity ETF (ILCB). 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.
| MERDX | ILCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.38 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.95 | -2.45 |
| Martin ratioReturn relative to average drawdown | 1.36 | 13.14 | -11.78 |
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Drawdowns
MERDX vs. ILCB - Drawdown Comparison
The maximum MERDX drawdown since its inception was -48.45%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for MERDX and ILCB.
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Drawdown Indicators
| MERDX | ILCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.45% | -51.53% | +3.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -9.09% | -5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -19.05% | -5.27% |
Max Drawdown (5Y)Largest decline over 5 years | -37.93% | -25.47% | -12.46% |
Max Drawdown (10Y)Largest decline over 10 years | -40.64% | -35.30% | -5.34% |
Current DrawdownCurrent decline from peak | -19.98% | -1.66% | -18.32% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -6.23% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.04% | +3.27% |
Volatility
MERDX vs. ILCB - Volatility Comparison
Meridian Growth Fund (MERDX) has a higher volatility of 6.11% compared to iShares Morningstar U.S. Equity ETF (ILCB) at 4.62%. This indicates that MERDX's price experiences larger fluctuations and is considered to be riskier than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MERDX | ILCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.11% | 4.62% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 9.90% | +3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.74% | 12.60% | +5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 17.21% | +4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.36% | 18.21% | +3.15% |
MERDX vs. ILCB - Expense Ratio Comparison
MERDX has a 0.85% expense ratio, which is higher than ILCB's 0.03% expense ratio.
Dividends
MERDX vs. ILCB - Dividend Comparison
MERDX's dividend yield for the trailing twelve months is around 8.49%, more than ILCB's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 0.98% | 1.11% | 1.19% | 1.43% | 1.65% | 1.16% | 1.26% | 2.25% | 2.17% | 1.81% | 1.97% | 2.44% |
MERDX Meridian Growth Fund | 8.49% | 9.03% | 0.24% | 0.00% | 13.80% | 15.49% | 0.88% | 9.15% | 16.44% | 7.07% | 0.57% | 12.17% |
Frequently Asked Questions
MERDX and ILCB have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MERDX has higher volatility (6.11%) compared to ILCB (4.62%). In terms of maximum drawdown, MERDX dropped -48.45% vs ILCB's -51.53%.
ILCB currently has the higher Sharpe Ratio (2.13 vs 0.41), 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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