MGV vs. ILCV

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Mega Cap Value ETF (MGV) and iShares Morningstar Value ETF (ILCV).

MGV and ILCV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MGV is a passively managed fund by Vanguard that tracks the performance of the MSCI US Large Cap Value Index. It was launched on Dec 17, 2007. ILCV is a passively managed fund by iShares that tracks the performance of the Morningstar US Large-Mid Cap Broad Value Index. It was launched on Jun 28, 2004. Both MGV and ILCV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MGV vs. ILCV - Performance Comparison

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

MGV vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGV Vanguard Mega Cap Value ETF	3.25%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%
ILCV iShares Morningstar Value ETF	-0.92%	18.79%	17.03%	14.43%	-7.02%	26.71%	-0.84%	25.19%	-6.24%	15.00%

Returns By Period

In the year-to-date period, MGV achieves a 3.25% return, which is significantly higher than ILCV's -0.92% return. Over the past 10 years, MGV has outperformed ILCV with an annualized return of 12.05%, while ILCV has yielded a comparatively lower 10.99% annualized return.

MGV

• 1D: 1.63%
• 1M: -4.81%
• YTD: 3.25%
• 6M: 6.43%
• 1Y: 14.96%
• 3Y*: 15.48%
• 5Y*: 11.32%
• 10Y*: 12.05%

ILCV

• 1D: 1.96%
• 1M: -4.49%
• YTD: -0.92%
• 6M: 4.39%
• 1Y: 16.47%
• 3Y*: 15.74%
• 5Y*: 10.84%
• 10Y*: 10.99%

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

MGV vs. ILCV - Expense Ratio Comparison

MGV has a 0.07% 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%.

MGV

Vanguard Mega Cap Value ETF

ILCV

iShares Morningstar Value ETF

Return for Risk

MGV vs. ILCV — Risk / Return Rank

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

MGV

MGV Risk / Return Rank: 64
MGV Sharpe Ratio Rank: 62
MGV Sortino Ratio Rank: 61
MGV Omega Ratio Rank: 64
MGV Calmar Ratio Rank: 64
MGV Martin Ratio Rank: 69

ILCV

ILCV Risk / Return Rank: 66
ILCV Sharpe Ratio Rank: 64
ILCV Sortino Ratio Rank: 64
ILCV Omega Ratio Rank: 68
ILCV Calmar Ratio Rank: 61
ILCV Martin Ratio Rank: 72

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.

MGV vs. ILCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value ETF (MGV) 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.

	MGV	ILCV	Difference
Sharpe ratio Return per unit of total volatility	1.03	1.08	-0.05
Sortino ratio Return per unit of downside risk	1.48	1.57	-0.09
Omega ratio Gain probability vs. loss probability	1.22	1.24	-0.02
Calmar ratio Return relative to maximum drawdown	1.50	1.50	0.00
Martin ratio Return relative to average drawdown	6.54	7.14	-0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGV vs. ILCV - Sharpe Ratio Comparison

The current MGV Sharpe Ratio is 1.03, which is comparable to the ILCV Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of MGV and ILCV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MGV	ILCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	1.08	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.76	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.66	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.44	+0.01

Correlation

The correlation between MGV and ILCV is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MGV vs. ILCV - Dividend Comparison

MGV's dividend yield for the trailing twelve months is around 2.06%, more than ILCV's 1.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGV Vanguard Mega Cap Value ETF	2.06%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%
ILCV iShares Morningstar Value ETF	1.77%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%

Drawdowns

MGV vs. ILCV - Drawdown Comparison

The maximum MGV drawdown since its inception was -55.87%, roughly equal to the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for MGV and ILCV.

Drawdown Indicators

	MGV	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-58.63%	+2.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-11.82%	+0.91%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-18.58%	+2.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.41%	-35.53%	+0.12%
Current Drawdown Current decline from peak	-4.89%	-4.72%	-0.17%
Average Drawdown Average peak-to-trough decline	-7.76%	-9.39%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.48%	+0.02%

Volatility

MGV vs. ILCV - Volatility Comparison

Vanguard Mega Cap Value ETF (MGV) and iShares Morningstar Value ETF (ILCV) have volatilities of 3.65% and 3.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGV	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	3.81%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.48%	7.65%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	15.31%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	14.26%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	16.68%	-0.34%