What Is the IMCV ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
A low-cost ETF that invests in the US mid-cap value segment. It offers a balanced portfolio built on undervalued, high-quality companies.
SubscribeWhat Is This ETF?
The fund tracks the Morningstar US Mid Cap Broad Value Index and holds mid-sized companies by market capitalization that show clear value characteristics. It provides broad exposure to the mid-cap value market at a low cost.
It complements portfolios weighted toward large caps and suits investors who want both the growth potential typical of mid-cap stocks and the stability of value stocks.
Launched in 2004 by BlackRock (iShares), it is a passively managed (index-tracking) ETF.
How Does It Invest?
| Item | Details |
|---|---|
| Tracked Index | Morningstar US Mid Cap Broad Value Index |
| Management Style | Passive (value stock selection) |
| Rebalancing Frequency | Twice a year |
| Dividend Frequency | Quarterly dividends |
| Total Expense Ratio | 0.06% |
The fund uses a variety of value metrics, including the P/E ratio and P/B ratio, to select undervalued mid-cap stocks within each sector. It adopts a market-cap-weighted approach to replicate the performance of the mid-cap market efficiently, and it is managed so that no single stock carries excessive weight.
- One of the lowest management fees in the industry
- Use of Morningstar's refined value stock selection index
Size and Costs
Assets under management (AUM) stand at $1.3B, and the Expense Ratio is 0.06% per year.
Unlike VTV and IWD shown in the table, which center on large-cap value stocks, IMCV concentrates on the mid-cap space and offers a differentiated diversification effect.
Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe fund combines two traits: mid-cap stocks, which tend to perform relatively well during economic recoveries, and value stocks, which provide stable dividends. Depending on the interest rate environment and the economic cycle, it moves differently from large caps.
As it has come to be seen as a cost-efficient way to gain mid-cap exposure, long-term investment money has been flowing in steadily. Its stable asset base helps it maintain high trading convenience.
Strengths and Weaknesses
The advantage is that it lets you invest in mid-cap value stocks at a low cost, but its volatility can be higher than that of large caps.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products
The VTV, IWD, and IVE listed in the table are representative products of the large-cap value market, while VBR specializes in small-cap value. Direct alternatives to IMCV include Vanguard's VOE and iShares' IWS, and if you want to focus more on dividends, DON is also a good choice. Depending on an investor's portfolio goals, it works well for adjusting the weighting of mid-cap stocks.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VTV | Vanguard Morningstar Value ETF | $227.57 | -0.4% | $196.6B | 0.03% | 1.83% | +23.1% |
 IWD | iShares Russell 1000 Value ETF | $258.58 | -0.3% | $83.4B | 0.18% | 1.37% | +26.7% |
 IVE | iShares S&P 500 Value ETF | $238.33 | -0.6% | $50.9B | 0.18% | 1.51% | +14.3% |
 SPYV | State Street SPDR Portfolio S&P 500 Value ETF | $63.83 | -0.6% | $39.0B | 0.04% | 1.66% | +14.2% |
 VBR | Vanguard Morningstar Small-Cap Value ETF | $245.00 | -0.4% | $37.4B | 0.05% | 1.8% | +18.9% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NEM | Newmont Corp | 0.02% | $107.47 | -1.5% | $111.7B | 12.5 | 0.97% |
| ADP | Automatic Data Processing Inc | 0.01% | $296.01 | -0.9% | $116.9B | 26.2 | 2.36% |
| PNC | PNC Financial Services Group Inc | 0.03% | $229.41 | -1.0% | $91.1B | 12.2 | 3.23% |
| USB | U.S. Bancorp | 0.03% | $59.89 | -1.0% | $93.3B | 11.7 | 3.53% |
| VLO | Valero Energy Corp | 0.01% | $387.65 | +1.6% | $108.1B | 8.7 | 1.24% |
| MMM | 3M Co | 0.01% | $177.05 | -0.7% | $91.5B | 26.4 | 1.78% |
| WMB | Williams Cos Inc | 0.01% | $72.47 | +1.8% | $88.6B | 28.5 | 2.91% |
| FDX | Fedex Corp | 0.01% | $318.02 | -0.1% | $74.5B | 17.2 | 1.5% |
Investor Checkpoints
IMCV is one of the classic choices for mid-cap value investing. Before making an actual investment decision, review the following key points carefully.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Fee Level | Confirm costs are low compared with similar ETFs | Low |
| 📊 Company Size | Check whether you can accept the volatility typical of mid caps | Moderate |
| 📈 Dividend Yield | Check the dividend appeal of the value stock portfolio | Good |
| 🔄 Rebalancing | Understand how often index constituents change | Twice a year |
Mid-cap stocks can be less liquid than large caps, and you should consider the possibility that the value style falls out of favor during a recession. In particular, keep an eye on how interest rate changes affect held sectors such as financials and real estate.
It is a useful product for investors who want low-cost exposure to the US mid-cap value market. It can serve as a tool that complements the stability and profitability of a core portfolio.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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