IMCV — iShares Morningstar Mid-Cap Value ETF
Long live record
Full long-run factor record
What IMCV Is
IMCV (iShares Morningstar Mid-Cap Value ETF) from IShares is a US equity ETF with $1.0B in assets, regressed on the FF6 US over 265 months. The fund tilts toward size (smb) (β=0.25); tilts toward value (hml) (β=0.35); tilts toward profitability (rmw) (β=0.16); tilts toward investment (cma) (β=0.17). Backtested-simulation excess return is +7.33% annualized; the in-sample realized excess was +8.19%.
Why IMCV Ranks This Way
- Backtested relative Sharpe is 1.04, above the market's 1.00 benchmark.
- Realized relative Sharpe is 0.74 over the fund's 265-month live sample.
- Strongest non-market tilts point toward value (hml) (β=0.35) and toward size (smb) (β=0.25).
- Dividend valuation is 13% richer than its historical median (113 on the 100 scale).
This fund is classified as US Equity because that factor set produced the strongest accepted fit. Backtested figures use the winning model's full factor history (1963-Jul → 2026-Aug, 758 months), while the betas themselves are estimated over the fund-overlap window (265 months).
| Factor | β | t-stat | Backtested % | Realized % |
|---|---|---|---|---|
| Size (SMB) | 0.251 | 8.16 | +0.53% | -0.03% |
| Value (HML) | 0.351 | 11.67 | +1.18% | -0.15% |
| Profitability (RMW) | 0.158 | 4.45 | +0.47% | +0.43% |
| Investment (CMA) | 0.172 | 3.75 | +0.50% | +0.00% |
| Momentum (UMD) | -0.106 | -6.02 | -0.76% | -0.19% |
| Non-Market Factor Contribution · combined non-market series | +1.88% | -0.02% | ||
| Alpha (intercept) | — | -0.83 | -0.70% | |
| Smart-Beta Net · combined non-market series + alpha | +1.16% | -0.72% | ||
| + Mkt-RF contribution · market | 0.969 | 54.47 | +6.03% | +9.29% |
| = Total excess return | +7.33% | +8.19% | ||
| + Rf base (%) | 4.44% → 11.77% total | 1.73% → 9.92% total | ||
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<iframe src="https://verifiedbeta.com/embed/us/IMCV/waterfall/" width="720" height="540" style="border:0;" loading="lazy"></iframe>Factor-Similar ETFs
Matches share at least one verified factor exposure with IMCV. They are ranked by modeled factor tracking error: the annualized volatility of their factor-return difference, not a return gap or forecast. Both funds use the same 36-month fitting window; a longer factor-volatility check also limits each match to 3% annualized. How matching works.
Showing the closest 12; the full cluster page includes every qualifying match.
FAQ
What does this IMCV ETF page measure?
This page evaluates IMCV using factor regressions, relative Sharpe, valuation, and peer context. It is designed for ETF due diligence rather than quote tracking.
Why can Backtested Sim. and Realized differ?
Both views use the same estimated betas. The difference is the return window: Backtested Sim. applies them to the full factor history, while Realized applies them only during the fund's live sample.
Why might a high-return fund still look weak here?
A fund can post strong raw returns and still look unattractive on this screen if its non-market factor capture is weak, its implementation drag is high, or its volatility-adjusted return profile is weaker than the market.
How should US investors use this page?
Use it as a starting point for ETF selection: check whether the fund's live behavior, valuation, and peer context match its stated strategy.
Factor decomposition shows what IMCV's historical betas would have earned under each scenario — not a forecast, not investment advice. Backtested simulation assumes loadings stay fixed across the long sample, which is unrealistic for any real-world fund. Use this as one input to ETF due diligence, not a substitute for it.
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