REGL vs. IMCV

Last updated Jun 4, 2026

REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds - REGL tracks the S&P MidCap 400 Dividend Aristocrats Index while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Over the past 10 years, REGL returned 9.12%/yr vs 10.40%/yr for IMCV. Their correlation of 0.87 suggests significant overlap in exposure. REGL charges 0.40%/yr vs 0.06%/yr for IMCV.

Performance

REGL vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and iShares Morningstar Mid-Cap ETF (IMCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REGL achieves a 3.98% return, which is significantly lower than IMCV's 9.96% return. Over the past 10 years, REGL has underperformed IMCV with an annualized return of 9.12%, while IMCV has yielded a comparatively higher 10.40% annualized return.

REGL

• 1D: -0.58%
• 1M: -2.06%
• YTD: 3.98%
• 6M: 4.90%
• 1Y: 9.25%
• 3Y*: 10.42%
• 5Y*: 5.92%
• 10Y*: 9.12%

IMCV

• 1D: -0.21%
• 1M: 2.12%
• YTD: 9.96%
• 6M: 11.32%
• 1Y: 23.41%
• 3Y*: 16.66%
• 5Y*: 8.69%
• 10Y*: 10.40%

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

REGL vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	3.98%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	18.79%	-3.25%	10.17%
IMCV iShares Morningstar Mid-Cap ETF	9.96%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	24.72%	-10.93%	12.60%

Correlation

The correlation between REGL and IMCV is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Feb 6, 2015	0.87

The correlation between REGL and IMCV has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

REGL vs. IMCV - Sectors Allocation Comparison

Sectors	REGL	IMCV
Financial Services	30.0%	15.6%
Industrials	15.1%	12.1%
Utilities	14.5%	10.0%
Consumer Cyclical	9.6%	8.7%
Basic Materials	9.3%	6.5%
Real Estate	7.8%	5.6%
Healthcare	4.5%	8.5%
Consumer Defensive	3.8%	8.9%
Energy	3.4%	12.5%
Technology	2.0%	9.1%
Communication Services	-	2.5%

Return for Risk

REGL vs. IMCV — Risk / Return Rank

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

REGL

REGL Risk / Return Rank: 21
REGL Sharpe Ratio Rank: 20
REGL Sortino Ratio Rank: 21
REGL Omega Ratio Rank: 19
REGL Calmar Ratio Rank: 21
REGL Martin Ratio Rank: 23

IMCV

IMCV Risk / Return Rank: 63
IMCV Sharpe Ratio Rank: 59
IMCV Sortino Ratio Rank: 62
IMCV Omega Ratio Rank: 58
IMCV Calmar Ratio Rank: 68
IMCV Martin Ratio Rank: 69

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.

REGL vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and iShares Morningstar Mid-Cap ETF (IMCV). 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.

	REGL	IMCV	Difference
Sharpe ratio: Return per unit of total volatility	0.70	2.02	-1.32
Sortino ratio: Return per unit of downside risk	1.13	2.94	-1.81
Omega ratio: Gain probability vs. loss probability	1.13	1.36	-0.23
Calmar ratio: Return relative to maximum drawdown	0.96	3.41	-2.45
Martin ratio: Return relative to average drawdown	3.07	12.72	-9.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REGL vs. IMCV - Sharpe Ratio Comparison

The current REGL Sharpe Ratio is 0.70, which is lower than the IMCV Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of REGL and IMCV, 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

	REGL	IMCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	2.02	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.53	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.53	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.47	+0.05

Drawdowns

REGL vs. IMCV - Drawdown Comparison

The maximum REGL drawdown since its inception was -36.37%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for REGL and IMCV.

Drawdown Indicators

	REGL	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-36.37%	-64.74%	+28.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-6.90%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-16.96%	-18.63%	+1.67%
Max Drawdown (5Y) Largest decline over 5 years	-16.96%	-19.87%	+2.91%
Max Drawdown (10Y) Largest decline over 10 years	-36.37%	-46.33%	+9.96%
Current Drawdown Current decline from peak	-5.82%	-0.21%	-5.61%
Average Drawdown Average peak-to-trough decline	-4.08%	-8.42%	+4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	1.85%	+1.17%

Volatility

REGL vs. IMCV - Volatility Comparison

ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) has a higher volatility of 3.65% compared to iShares Morningstar Mid-Cap ETF (IMCV) at 2.56%. This indicates that REGL's price experiences larger fluctuations and is considered to be riskier than IMCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REGL	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	2.56%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	8.00%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	11.63%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	16.63%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	19.66%	-1.33%

REGL vs. IMCV - Expense Ratio Comparison

REGL has a 0.40% expense ratio, which is higher than IMCV's 0.06% expense ratio.

Dividends

REGL vs. IMCV - Dividend Comparison

REGL's dividend yield for the trailing twelve months is around 2.24%, more than IMCV's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCV iShares Morningstar Mid-Cap ETF	1.94%	2.23%	2.36%	2.30%	2.36%	1.86%	2.61%	2.45%	2.61%	1.87%	2.09%	2.29%
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.24%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%

Frequently Asked Questions

Can I hold both REGL and IMCV in my portfolio?

REGL and IMCV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REGL or IMCV?

REGL has higher volatility (3.65%) compared to IMCV (2.56%). In terms of maximum drawdown, REGL dropped -36.37% vs IMCV's -64.74%.

Which ETF is better, REGL or IMCV?

On 10-year performance, IMCV leads with 10.40% vs 9.12% for REGL. On fees, IMCV is cheaper at 0.06% per year. On volatility, IMCV has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, REGL or IMCV?

Over the 10-year period, IMCV has performed better with a 10.40% return vs 9.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REGL or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.40% for REGL.

Which ETF pays a higher dividend yield, REGL or IMCV?

REGL has the higher dividend yield at 2.24%, compared with 1.94% for IMCV.

What is the main difference between REGL and IMCV?

REGL tracks S&P MidCap 400 Dividend Aristocrats Index, while IMCV tracks Morningstar US Mid Cap Broad Value Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.40% for REGL and 0.06% for IMCV.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.02 vs 0.70), 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.