A sound investment process and strong management team underpin iShares Morningstar Mid-Cap Growth ETF's Morningstar Medalist Rating of Gold. The portfolio maintains a sizable cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy's investment process inspires confidence and earns a High Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it has maintained an underweight position in volatility exposure and an overweight in yield exposure compared with category peers. Low volatility exposure is attributed to stocks with a lower standard deviation of returns. And a high yield exposure is rooted in holding high dividend-paying or buyback stocks. The strategy’s management team earns an Above Average People Pillar rating. The strategy's parent organization earns the firm an Above Average Parent Pillar rating. People Pillar and Parent Pillar ratings for this strategy are indirectly assigned by a Morningstar analyst rather than algorithmically derived. Please see the notes following each pillar section for more details. The details of assigning methods can be found in each pillar section.

Analyst Rating

Trane Technologies plc

CrowdStrike

TransDigm

Constellation Energy Corp

Workday

Edwards Lifesciences

Marvell Technology

DexCom

Autodesk

Hilton Worldwide Holdings

Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category index on a risk-adjusted basis over the long term. iShares Morningstar Mid-Cap Growth ETF earns a High Process Pillar rating. The largest contributor to the rating is that this fund tracks an index. Historical data, such as Morningstar's Active/Passive Barometer, finds that passively managed funds have generally outperformed their active counterparts, especially over longer time horizons. Excellent risk-adjusted performance also bolsters the rating. This can be seen in the fund's five-year alpha calculated relative to the category average, which suggests that the process was successful over that period. The firm's five-year retention rate of 92% strengthens the process as well.

The investment strategy as stated in the fund's prospectus is:  The investment seeks to track the investment results of the Morningstar® U.S. Mid Cap Broad Growth IndexSM composed of mid-capitalization U.S. equities that exhibit growth characteristics.  The fund will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The underlying index measures the performance of U.S. stocks issued by mid-capitalization companies that have exhibited above-average "growth" characteristics as determined by Morningstar and Inc.'s proprietary index methodology. 

 The portfolio is overweight in industrials and real estate relative to the category average by 5.4 and 4.4 percentage points, respectively. The sectors with low exposure compared to category peers are healthcare and consumer cyclical, underweight the average by 7.8 and 3.3 percentage points of assets, respectively. The strategy owns 310 securities and its assets are more dispersed than peers in the category. In particular, 11.2% of the fund’s assets are concentrated in the top 10 fund holdings, compared to the category’s 26.1% average. And finally, in terms of portfolio turnover, looking at year-over-year movements, 43% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.

High

Process

iShares’s equity team is strong compared with others in the industry, resulting in an Above Average People Pillar rating. There are three managers listed on the fund: Paul Whitehead, Jennifer Hsui, Greg Savage. Experience on the team is abundant, with 18 years of average portfolio management experience. Together, they manage a total of 257 strategies, with solid long-term prospects. The strategies average a Silver asset-weighted Morningstar Medalist Rating, indicating a position to deliver positive alpha relative to the category median in aggregate.  

 Note: This People Pillar rating is indirectly assigned by an analyst. Morningstar analysts evaluate the People Pillar for passive products at the brand level and may also differentiate by asset class. There is at least one other passive strategy at the firm that is covered by a Morningstar analyst, so the People Pillar rating of the fund is inherited from the rating that the Morningstar analyst assigned to investment vehicles under the same brand name.

Above Average

People

BlackRock offers compelling options across asset classes and vehicles. It earns an Above Average rating for Parent. 
The firm’s approximately USD 8 trillion in assets under management, as of Sept. 30, 2022, gives it unparalleled scale and influence. It is a market-leading index fund provider globally, and its iShares exchange-traded fund franchise offers a low-cost lineup of core funds that investors can use to build a well-diversified portfolio for dirt cheap. The firm can be more adventurous in its ETF launches than some peers, so not everything it launches is appropriate for the masses. As a result, it is likely to have more ETF closures than peers that stick to the basic building blocks.  
The firm’s active fixed-income and multi-asset efforts also stand out as some of the best in the industry. Those benefit from BlackRock’s commitment to building a first-class risk management system via its Aladdin analytics software. The software is also available for sale to other firms and has proved to be a popular option for competitors, a testament to its usefulness. 
More recently, the firm has shifted its focus to ESG offerings and incorporating ESG across its investment lineup, leading to a political backlash in the United States.
BlackRock isn’t the best at everything it tries to do, but retail investors, financial advisors, and large institutions could all build robust portfolios using BlackRock’s products.

Parent

iShares Morningstar Mid-Cap Growth ETF

IMCG tracks a market cap-weighted index of US mid-cap stocks companies selected based on their growth characteristics.

Designed to provide broad exposure to the Mid Cap Growth segment of the US equity market, the iShares Morningstar Mid-Cap Growth ETF (IMCG) is a passively managed exchange traded fund launched on 06/28/2004.

Should iShares Morningstar Mid-Cap Growth ETF (IMCG) Be on Your Investing Radar?

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iShares Morningstar Mid-Cap Growth ETF is a passively managed fund that invests in growth-oriented mid-cap companies. Mid-cap stocks offer a balance of growth and stability, making them attractive for portfolio diversification. IMCG has a diverse portfolio with significant allocations in the information technology, industrials, and healthcare sectors.

IMCG: A Great Way To Access Mid-Caps

IMCG generates low yield, but strong total return both over the short-run and in the long-run. It posted double-digit annual total returns over the past 10 years. More than half of IMCG's assets are invested in industrial and ICT sectors. A large part of its investments is in the companies working on cloud technology. IMCG has a balanced mix in its investments in usual stocks that most funds invest in, as well as stocks that operate in perceived high-growth technologies.

IMCG: A Mid-Cap Fund With A Balanced Mix Of Investments

For investors seeking momentum, iShares Morningstar Mid-Cap Growth ETF IMCG is probably on radar. The fund just hit a 52-week high and is up 27.6% from its 52-week low price of $48.44/share.

Mid-Cap Growth ETF (IMCG) Hits New 52-Week High

IMCG has a lot of tech exposures, but they're not the kind that are as well positioned as a rate pivot play. We aren't 100% convinced the Fed will pivot at all, but the banking crisis is likely to lead to credit tightening that should be a big difference-maker for demand.

IMCG: Not So Well Placed For Potential Fed Pivot

Should iShares Morningstar MidCap Growth ETF (IMCG) Be on Your Investing Radar?

IMCG has a fundamentals-driven strategy, with the Morningstar US Mid Cap Broad Growth Index lying at its crux. IMCG offers an interesting large-caps-heavy mix with a weighted-average forward revenue growth rate of about 17.5% and large exposure to highly profitable companies.

IMCG: Large-Cap Exposure Means Higher Quality, Expensive Valuation

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News for iShares Morningstar Mid-Cap Growth ETF ETF (IMCG)