TPHD vs. IMCV

Last updated Jun 4, 2026

TPHD (Timothy Plan High Dividend Stock ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds - TPHD tracks the Victory US Large Cap High Dividend Volatility Weighted BRI Index while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Over the past 5 years, TPHD returned 8.52%/yr vs 8.69%/yr for IMCV. Their correlation of 0.92 suggests significant overlap in exposure. TPHD charges 0.52%/yr vs 0.06%/yr for IMCV.

Performance

TPHD vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan High Dividend Stock ETF (TPHD) 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, TPHD achieves a 8.56% return, which is significantly lower than IMCV's 9.96% return.

TPHD

• 1D: 0.03%
• 1M: -1.27%
• YTD: 8.56%
• 6M: 7.69%
• 1Y: 13.23%
• 3Y*: 13.21%
• 5Y*: 8.52%
• 10Y*: —

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)

TPHD vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TPHD Timothy Plan High Dividend Stock ETF	8.56%	8.28%	12.14%	8.86%	-1.91%	27.98%	-1.30%	10.35%
IMCV iShares Morningstar Mid-Cap ETF	9.96%	13.52%	12.28%	11.89%	-6.98%	33.56%	-4.11%	8.44%

Correlation

The correlation between TPHD and IMCV is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.92

The correlation between TPHD and IMCV has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

TPHD vs. IMCV - Sectors Allocation Comparison

Sectors	TPHD	IMCV
Utilities	24.1%	10.0%
Industrials	18.3%	12.1%
Energy	15.4%	12.5%
Financial Services	12.6%	15.6%
Consumer Cyclical	8.9%	8.7%
Technology	8.8%	9.1%
Basic Materials	5.3%	6.5%
Consumer Defensive	4.2%	8.9%
Healthcare	2.5%	8.5%
Communication Services	0.0%	2.5%
Real Estate	0.0%	5.6%

Return for Risk

TPHD vs. IMCV — Risk / Return Rank

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

TPHD

TPHD Risk / Return Rank: 38
TPHD Sharpe Ratio Rank: 35
TPHD Sortino Ratio Rank: 36
TPHD Omega Ratio Rank: 33
TPHD Calmar Ratio Rank: 44
TPHD Martin Ratio Rank: 39

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.

TPHD vs. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan High Dividend Stock ETF (TPHD) 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.

	TPHD	IMCV	Difference
Sharpe ratio: Return per unit of total volatility	1.27	2.02	-0.75
Sortino ratio: Return per unit of downside risk	1.92	2.94	-1.02
Omega ratio: Gain probability vs. loss probability	1.22	1.36	-0.13
Calmar ratio: Return relative to maximum drawdown	2.19	3.41	-1.22
Martin ratio: Return relative to average drawdown	6.20	12.72	-6.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPHD vs. IMCV - Sharpe Ratio Comparison

The current TPHD Sharpe Ratio is 1.27, which is lower than the IMCV Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of TPHD 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

	TPHD	IMCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	2.02	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.53	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.47	+0.04

Drawdowns

TPHD vs. IMCV - Drawdown Comparison

The maximum TPHD drawdown since its inception was -41.71%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for TPHD and IMCV.

Drawdown Indicators

	TPHD	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-41.71%	-64.74%	+23.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-6.90%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-15.89%	-18.63%	+2.74%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-19.87%	+3.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.33%	—
Current Drawdown Current decline from peak	-3.25%	-0.21%	-3.04%
Average Drawdown Average peak-to-trough decline	-4.73%	-8.42%	+3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.85%	+0.29%

Volatility

TPHD vs. IMCV - Volatility Comparison

Timothy Plan High Dividend Stock ETF (TPHD) and iShares Morningstar Mid-Cap ETF (IMCV) have volatilities of 2.60% and 2.56%, 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

	TPHD	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	2.56%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.35%	8.00%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	10.48%	11.63%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	16.63%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	19.66%	-0.03%

TPHD vs. IMCV - Expense Ratio Comparison

TPHD has a 0.52% expense ratio, which is higher than IMCV's 0.06% expense ratio.

Dividends

TPHD vs. IMCV - Dividend Comparison

TPHD's dividend yield for the trailing twelve months is around 2.00%, 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%
TPHD Timothy Plan High Dividend Stock ETF	2.00%	2.10%	2.09%	2.19%	2.38%	1.86%	2.38%	1.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TPHD and IMCV in my portfolio?

TPHD and IMCV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPHD or IMCV?

TPHD has higher volatility (2.60%) compared to IMCV (2.56%). In terms of maximum drawdown, TPHD dropped -41.71% vs IMCV's -64.74%.

Which ETF is better, TPHD or IMCV?

On 5-year performance, IMCV leads with 8.69% vs 8.52% for TPHD. On fees, IMCV is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPHD or IMCV?

Over the 5-year period, IMCV has performed better with a 8.69% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPHD or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.52% for TPHD.

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

TPHD has the higher dividend yield at 2.00%, compared with 1.94% for IMCV.

What is the main difference between TPHD and IMCV?

TPHD tracks Victory US Large Cap High Dividend Volatility Weighted BRI Index, while IMCV tracks Morningstar US Mid Cap Broad Value Index. They also come from different issuers: Timothy Plan and iShares. Their fees differ too: 0.52% for TPHD and 0.06% for IMCV.

Which has better risk-adjusted returns?

IMCV currently has the higher Sharpe Ratio (2.02 vs 1.27), 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.