IMCV: ISHARES MORNINGSTAR MID-CAP VALUE ETF
Share-split context: A forward split was recorded on Apr 19, 2021 with coefficient 3. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.
What this ETF is trying to do
The ISHARES MORNINGSTAR MID-CAP VALUE ETF (ticker: IMCV) is designed to invest in mid-sized companies that are considered "value" stocks. Mid-cap companies are generally businesses that are larger than small startups but not as massive as the biggest household names. This ETF provides exposure to a variety of these companies across different industries.
What the numbers show
The data shows that IMCV has experienced growth in both its share price and its total return. It is important to understand the difference between these two: price return only tracks how much the share price moves, while total return includes both price changes and the value of distributions paid out.
Here is a breakdown of the performance:
• Year-to-Date (YTD): The price return is approximately 12.90%, while the total return is approximately 14.50%.
• One-Year: The price return is approximately 15.53%, and the total return is approximately 17.94%.
• Three-Year: The price return is approximately 55.99%, and the total return is approximately 67.05%.
Because this ETF has a history of forward splits, the price-return data is split-adjusted. This means the historical percentages have been adjusted to account for a time when one old share became multiple new shares.
Income and distribution explanation
IMCV provides regular cash distributions to investors. The current distribution yield is approximately 1.96%. This number represents the cash distributions relative to the current ETF price.
The fund usually pays out on a quarterly basis, with 4 payments recorded over the last 12 months. The trailing distributions amount to approximately $1.83 per share. While distributions provide cash income, they are separate from the total return of the investment.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.
However, looking at the price-based evidence, the erosion-risk score is 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.
Top Holdings
The following are the top holdings in the portfolio (note that this list is partial):
• Valero Energy Corp (1.63%)
• Automatic Data Processing Inc (1.50%)
• Phillips 66 (1.49%)
• U.S. Bancorp (1.32%)
• PNC Financial Services Group Inc (1.30%)
• 3M Co (1.24%)
• Hewlett Packard Enterprise Co (1.24%)
• Elevance Health Inc (1.19%)
• Regeneron Pharmaceuticals Inc (1.10%)
• The Travelers Companies Inc (1.09%)
Holdings can change over time. This data was updated on October 8, 2026.
Pros
• The ETF has shown positive price returns and total returns over the one-year and three-year periods.
• The erosion-risk score suggests no significant price erosion has been detected.
Cons
• The distribution yield is relatively modest compared to some high-income funds.
• As with all ETFs, the value of the investment can change based on market movements.
Beginner takeaway
IMCV is a mid-cap value ETF that has recently shown growth in both share price and total return. It offers a modest quarterly distribution, but investors should remember that a distribution yield is not the same as total return. Always look at both the price movement and the distributions to understand how an ETF is performing.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | VALERO ENERGY CORP | VLO | 1.63% |
| 2 | AUTOMATIC DATA PROCESSING INC | ADP | 1.50% |
| 3 | PHILLIPS 66 | PSX | 1.49% |
| 4 | U.S. BANCORP | USB | 1.32% |
| 5 | PNC FINANCIAL SERVICES GROUP INC | PNC | 1.30% |
| 6 | 3M CO | MMM | 1.24% |
| 7 | HEWLETT PACKARD ENTERPRISE CO | HPE | 1.24% |
| 8 | ELEVANCE HEALTH INC | ELV | 1.19% |
| 9 | REGENERON PHARMACEUTICALS INC | REGN | 1.10% |
| 10 | THE TRAVELERS COMPANIES INC | TRV | 1.09% |