IMCV vs SPY
IMCV vs SPY
iShares Morningstar Mid-Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IMCV has a lower expense ratio. IMCV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IMCV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.09% | |
| AUM | $1.1B | $789.1B | |
| Dividend Yield | 1.89% | 1.01% | |
| Holdings | 275 | 505 | |
| YTD Return | +16.11% | +9.93% | |
| 1Y Return | +26.42% | +19.50% | |
| 3Y Return (annualized) | +15.78% | +19.33% | |
| 5Y Return (annualized) | +10.97% | +12.82% | |
| Volatility (annualized) | 17.7% | 15.3% | |
| Max Drawdown | -66.5% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 28, 2004 | Jan 22, 1993 |
IMCV vs SPY Performance
iShares Morningstar Mid-Cap Value ETF (IMCV) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IMCV returned +26.42% while SPY returned +19.50%. Year to date, IMCV is up 16.11% versus a gain of 9.93% for SPY.
Over three years, IMCV compounded at +15.78% per year against +19.33% for SPY; over five years the annualized figures are +10.97% and +12.82% respectively. Across the full 22-year window we track, SPY has the edge at +8.74% annualized vs +7.95%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IMCV has been the more volatile fund, with annualized monthly volatility of 17.7% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -66.5% for IMCV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IMCV charges 0.06% per year while SPY charges 0.09%. On a $10,000 position that is $6 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, IMCV currently yields 1.89% against 1.01% for SPY.
Holdings Overlap
IMCV and SPY share 225 holdings out of 549 unique holdings combined, representing a 13.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IMCV | Weight in SPY | Difference |
|---|---|---|---|
| PNC | 1.46% | 0.16% | 1.30% |
| USB | 1.40% | 0.15% | 1.25% |
| ADP | 1.38% | 0.15% | 1.23% |
| ELV | Pro | Pro | Pro |
| MMM | Pro | Pro | Pro |
| UPS | Pro | Pro | Pro |
| VLO | Pro | Pro | Pro |
| MDLZ | Pro | Pro | Pro |
| CI | Pro | Pro | Pro |
| TRV | Pro | Pro | Pro |
See all 10 holdings IMCV shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, IMCV or SPY?
IMCV has an expense ratio of 0.06% while SPY charges 0.09%. IMCV is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, IMCV or SPY?
Over the past year IMCV returned +26.42% vs +19.50% for SPY, so IMCV leads on 1-year performance. Over the longest common window we track (22 years), IMCV annualized +7.95% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, IMCV or SPY?
IMCV has been the more volatile fund at 17.7% annualized versus 15.3% for SPY. Worst drawdown: IMCV -66.5% vs SPY -56.5%.
Should I hold both IMCV and SPY?
IMCV and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IMCV and SPY?
IMCV and SPY share 225 common holdings with a 13.4% weight overlap. Combined, they hold 549 unique securities.
Which pays a higher dividend, IMCV or SPY?
IMCV yields 1.89% while SPY yields 1.01%, so IMCV currently pays the higher dividend yield.
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