iShares Morningstar Value ETF
ILCV
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- iShares Morningstar Value ETF (ILCV) is an exchange-traded fund that seeks to track the investment results of an index composed of large-, mid-, and small-capitalization U.S. equities exhibiting value characteristics, as selected by Morningstar's proprietary methodology. The fund offers investors exposure to undervalued stocks across sectors including financials, industrials, consumer discretionary, and healthcare; it employs a passive management strategy with a focus on price-to-earnings, price-to-book, and other value metrics for stock selection and weighting. Managed by BlackRock Institutional Trust Company, N.A., ILCV operates primarily in the U.S. equity market, targeting long-term investors seeking value-oriented returns with low turnover and expense ratio of approximately 0.03%. Launched in 2000 as part of the iShares family, the ETF is domiciled in the United States with administrative headquarters aligned to BlackRock's operations in Wilmington, Delaware. Geographically, it invests exclusively in U.S.-listed securities, providing domestic market exposure without international allocations. The fund holds hundreds of holdings, with top positions typically in established value names like Berkshire Hathaway, JPMorgan Chase, and Exxon Mobil, rebalanced periodically to reflect index changes. In recent developments, ILCV benefited from Morningstar's 2023 methodology enhancements to its value indexes, improving factor purity and reducing style drift; BlackRock announced expanded iShares suite integrations in late 2024, enhancing liquidity and trading efficiency for value ETFs amid market rotations toward value stocks. No major acquisitions or name changes occurred, but the fund saw asset inflows exceeding 20% year-over-year as of mid-2025, reflecting investor shifts post-2024 equity market dynamics. It remains a core offering under BlackRock's iShares brand, with no subsidiaries or parent alterations noted.