USXF vs. ILCG

Last updated Jun 4, 2026

USXF (iShares ESG Advanced MSCI USA ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds from iShares - USXF tracks the MSCI USA Choice ESG Screened Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 5 years, USXF returned 15.70%/yr vs 14.95%/yr for ILCG. Their correlation of 0.91 suggests significant overlap in exposure. USXF charges 0.10%/yr vs 0.04%/yr for ILCG.

Performance

USXF vs. ILCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced MSCI USA ETF (USXF) and iShares Morningstar Growth ETF (ILCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USXF achieves a 20.76% return, which is significantly higher than ILCG's 14.48% return.

USXF

• 1D: -0.51%
• 1M: 10.32%
• YTD: 20.76%
• 6M: 21.06%
• 1Y: 35.21%
• 3Y*: 27.38%
• 5Y*: 15.70%
• 10Y*: —

ILCG

• 1D: -1.02%
• 1M: 7.68%
• YTD: 14.48%
• 6M: 14.61%
• 1Y: 29.51%
• 3Y*: 26.55%
• 5Y*: 14.95%
• 10Y*: 18.15%

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

USXF vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USXF iShares ESG Advanced MSCI USA ETF	20.76%	16.97%	26.16%	31.65%	-21.20%	27.14%	24.04%
ILCG iShares Morningstar Growth ETF	14.48%	16.71%	32.82%	40.41%	-31.75%	24.33%	24.00%

Correlation

The correlation between USXF and ILCG is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020	0.91

The correlation between USXF and ILCG has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

USXF vs. ILCG - Sectors Allocation Comparison

Sectors	USXF	ILCG
Technology	56.6%	49.8%
Financial Services	14.3%	6.0%
Industrials	7.7%	8.3%
Consumer Cyclical	6.3%	10.6%
Healthcare	4.6%	5.3%
Real Estate	3.7%	1.4%
Communication Services	2.2%	14.5%
Basic Materials	2.2%	1.1%
Utilities	1.2%	0.8%
Consumer Defensive	0.9%	1.6%
Energy	0.1%	0.5%

Return for Risk

USXF vs. ILCG — Risk / Return Rank

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

USXF

USXF Risk / Return Rank: 66
USXF Sharpe Ratio Rank: 65
USXF Sortino Ratio Rank: 62
USXF Omega Ratio Rank: 62
USXF Calmar Ratio Rank: 69
USXF Martin Ratio Rank: 73

ILCG

ILCG Risk / Return Rank: 46
ILCG Sharpe Ratio Rank: 52
ILCG Sortino Ratio Rank: 49
ILCG Omega Ratio Rank: 50
ILCG Calmar Ratio Rank: 38
ILCG Martin Ratio Rank: 41

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.

USXF vs. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA ETF (USXF) and iShares Morningstar Growth ETF (ILCG). 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.

	USXF	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.82	+0.38
Sortino ratio: Return per unit of downside risk	2.95	2.45	+0.50
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.07
Calmar ratio: Return relative to maximum drawdown	3.47	1.89	+1.58
Martin ratio: Return relative to average drawdown	13.97	6.68	+7.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USXF vs. ILCG - Sharpe Ratio Comparison

The current USXF Sharpe Ratio is 2.20, which is comparable to the ILCG Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of USXF and ILCG, 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

	USXF	ILCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	1.82	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.68	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.59	+0.44

Drawdowns

USXF vs. ILCG - Drawdown Comparison

The maximum USXF drawdown since its inception was -29.54%, smaller than the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for USXF and ILCG.

Drawdown Indicators

	USXF	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-29.54%	-52.98%	+23.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-15.65%	+5.46%
Max Drawdown (3Y) Largest decline over 3 years	-20.93%	-23.10%	+2.17%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-35.38%	+5.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.38%	—
Current Drawdown Current decline from peak	-0.51%	-1.02%	+0.51%
Average Drawdown Average peak-to-trough decline	-6.42%	-8.22%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	4.43%	-1.90%

Volatility

USXF vs. ILCG - Volatility Comparison

iShares ESG Advanced MSCI USA ETF (USXF) has a higher volatility of 5.41% compared to iShares Morningstar Growth ETF (ILCG) at 4.40%. This indicates that USXF's price experiences larger fluctuations and is considered to be riskier than ILCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USXF	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	4.40%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	12.81%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.13%	16.31%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	22.00%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	21.53%	-2.35%

USXF vs. ILCG - Expense Ratio Comparison

USXF has a 0.10% expense ratio, which is higher than ILCG'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%.

Dividends

USXF vs. ILCG - Dividend Comparison

USXF's dividend yield for the trailing twelve months is around 0.80%, more than ILCG's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCG iShares Morningstar Growth ETF	0.40%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%
USXF iShares ESG Advanced MSCI USA ETF	0.80%	0.93%	1.00%	1.21%	1.39%	0.86%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USXF and ILCG in my portfolio?

With a correlation of 0.92, USXF and ILCG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, USXF or ILCG?

USXF has higher volatility (5.41%) compared to ILCG (4.40%). In terms of maximum drawdown, USXF dropped -29.54% vs ILCG's -52.98%.

Which ETF is better, USXF or ILCG?

On 5-year performance, USXF leads with 15.70% vs 14.95% for ILCG. On fees, ILCG is cheaper at 0.04% per year. On volatility, ILCG has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USXF or ILCG?

Over the 5-year period, USXF has performed better with a 15.70% return vs 14.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USXF or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.10% for USXF.

Which ETF pays a higher dividend yield, USXF or ILCG?

USXF has the higher dividend yield at 0.80%, compared with 0.40% for ILCG.

What is the main difference between USXF and ILCG?

USXF tracks MSCI USA Choice ESG Screened Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. Their fees differ too: 0.10% for USXF and 0.04% for ILCG.

Which has better risk-adjusted returns?

USXF currently has the higher Sharpe Ratio (2.20 vs 1.82), 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.