At a glance
IMCG charges 0.06% a year, below the 0.15% average of the 8 funds most like it (the 3rd cheapest of 9). It has $3.92B in assets, the 4th largest of that group; it paid 0.65% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +14.6% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +22.3% a year. At its worst it fell 31.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 27 months after the low. Its ten largest positions make up 12.0% of the fund, out of 260 in all.
The short version
iShares Morningstar Mid-Cap Growth ETF (IMCG) is a BlackRock index fund. It tracks the Morningstar US Mid Cap Broad Growth Index, which holds about 260 mid-sized US companies whose earnings and sales are growing faster than average. Its 0.06% expense ratio is well below the 0.15% average of similar funds and just under the 0.07% charged by Vanguard Mid-Cap Growth ETF. The trade-off is a bumpier ride: it lost 25.85% in 2022.
Price history
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IMCG +14.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IMCG official prospectus, to Dec 31, 2025 | — | +6.75% | — | +5.42% | +12.71% | — |
| Morningstar US Market Index index, same period | — | +17.35% | — | +13.29% | +14.40% | — |
| IMCG price data to Oct 27, 2026 | +19.8% | +14.6% | +22.3% | +6.4% | — | +8.6% |
- Over the year to Oct 27, 2026, IMCG returned +14.6%, 4th of 9 among similar funds.
- Its 5-year annualized return was +6.4%.
- Its worst full calendar year was 2022 (-25.8%); its best was 2023 (+20.7%).
- The deepest fall in its price history was 35.1% (Nov 16, 2021 to Oct 14, 2022), recovered by Oct 14, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +19.8% | — |
| 2025 | +6.6% | +6.75% |
| 2024 | +18.1% | +17.99% |
| 2023 | +20.7% | +20.82% |
| 2022 | -25.8% | -25.85% |
| 2021 | — | +15.39% |
| 2020 | — | +45.65% |
| 2019 | — | +35.61% |
| 2018 | — | -3.39% |
| 2017 | — | +25.37% |
| 2016 | — | +6.26% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Mar 26, 2021 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Mar 26, 2021 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 30.7% over that stretch · deepest drop along the way 31.3%, back to its old high 26.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4100 | |
| 2025 | $0.6300 | +6.8% |
| 2024 | $0.5900 | +9.3% |
| 2023 | $0.5400 | +8.0% |
| 2022 | $0.5000 |
What's inside
As of Jul 31, 2026, the fund held 260 securities; the ten largest made up 12% of assets.
| Holding | Weight | |
|---|---|---|
| Fortinet, Inc. | 1.38% | |
| Snowflake, Inc. | 1.36% | |
| Freeport-McMoRan, Inc. | 1.23% | |
| Johnson Controls International plc | 1.23% | |
| Cloudflare, Inc. | 1.21% | |
| Cummins, Inc. | 1.19% | |
| Datadog, Inc. | 1.14% | |
| Dell Technologies, Inc. | 1.12% | |
| Royal Caribbean Cruises Ltd. | 1.09% | |
| Aon plc | 1.06% | |
| DoorDash, Inc. | 1.01% | |
| O'Reilly Automotive, Inc. | 1.01% | |
| Motorola Solutions, Inc. | 1.00% | |
| Moody's Corp. | 0.99% | |
| Hilton Worldwide Holdings, Inc. | 0.97% |
By country
United States 92.15%Ireland 3.87%Liberia 1.09%Cayman Islands 0.67%Singapore 0.54%By asset type
Stocks 99.8%By sector
Sectors of the companies held, for the 65.6% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $147.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.28%, +5.13%, -3.15%.
How it works
IMCG follows the Morningstar US Mid Cap Broad Growth Index. Morningstar, Inc. builds the index and is independent of BlackRock. Morningstar starts with a broad index that covers about 99.5% of the value of publicly traded US stocks. It defines mid-caps as stocks that generally rank between the 70th and 90th percentile by market value (share price times shares outstanding). It then labels each stock as growth, blend or value. Growth stocks have higher-than-average past and forecast growth in earnings, sales, book value and cash flow.
Each stock's weight depends on the value of its shares that the public can buy, so bigger companies count for more. Still, no single stock dominates. As of July 31, 2026, the largest holding, Fortinet, was about 1.4% of assets, and the top 10 together made up about 12%. Stocks leave the index when they grow too large, shrink or lose their growth label. That keeps trading fairly active: portfolio turnover was 45%.
BlackRock uses representative sampling. This means the fund may hold a sample of index stocks chosen to match the index's overall profile instead of owning every one. At least 80% of net assets must be in index stocks. The fund may use derivatives such as stock index futures, which were a tiny share of assets on July 31, 2026. It may also lend out up to one-third of its assets.
What it really costs
- IMCG charges 0.06% a year, versus an average of 0.15% for the similar funds below (3rd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $6 in the first year and $77 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IMCG | $6 | $19 | $34 | $77 |
In a retirement portfolio
It focuses on faster-growing mid-sized companies and has swung more than the overall market, so it fits better as a smaller add-on than as a portfolio's foundation.
IMCG adds a tilt toward faster-growing mid-sized companies for 0.06% a year. In the SEC's standard example of $10,000 invested, that comes to about $77 over 10 years. The catch is volatility. This page has no fund figures for the 2008 crisis or the 2020 crash itself, though the fund gained 45.65% over calendar 2020. In the 2022 bear market it fell 31.3%. It didn't get back above its January 2022 high until August 2024. Its deepest drop since March 2021 was 35.1%, and it took 24 months to recover from its October 2022 low. Its worst calendar year was 2022, when it fell 25.85%. Selling shares to cover spending during a stretch like that would lock in losses. Income is small: the yield was 0.65% as of October 27, 2026, paid quarterly. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Cost-conscious investors seeking mid-cap growth stocks: the 0.06% expense ratio is below the 0.15% peer average and Vanguard Mid-Cap Growth's 0.07%.
- Long-term investors who can sit through sharp drops, like the 25.85% loss in 2022, in exchange for owning faster-growing mid-sized companies.
- Investors who want their money spread out: about 260 stocks as of July 31, 2026, with the top 10 making up only about 12%.
Look elsewhere if
- Investors seeking income: the yield was just 0.65% as of October 27, 2026, paid quarterly.
- Investors who may need to sell during a downturn: the fund took about two years to recover from its October 2022 low.
- Investors who want all mid-sized companies, not just growth stocks: iShares Morningstar Mid-Cap ETF (IMCB) and Vanguard Mid-Cap ETF (VO) each charge 0.04%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IMCG this fund | — | 0.06% | $3.92B | +14.6% | +22.3% |
| IMCB iShares Morningstar Mid-Cap ETF | 64% | 0.04% | $1.66B | +18.7% | +22.2% |
| VO Vanguard Mid-Cap ETF | 55% | 0.04% | $224.06B | +15.5% | +20.7% |
| IWR iShares Russell Midcap ETF | 47% | 0.19% | $56.98B | +16.6% | +19.3% |
| VOT Vanguard Mid-Cap Growth ETF | 46% | 0.07% | $34.82B | -0.4% | +17.4% |
| GSEW Goldman Sachs Equal Weight U.S. Large Cap E… | 42% | 0.09% | $2.08B | +13.5% | +21.4% |
| SIZE iShares MSCI USA Size Factor ETF | 41% | 0.15% | $428.8M | +12.2% | +19.6% |
| EUSA iShares MSCI USA Equal Weighted ETF | 40% | 0.09% | $1.93B | +12.3% | +19.6% |
Questions investors ask
What does IMCG invest in?
IMCG holds mid-sized US companies that Morningstar classifies as growth stocks, meaning their past and forecast growth in earnings, sales, book value and cash flow is above average. As of July 31, 2026, it held about 260 stocks. The largest were Fortinet, Snowflake, Freeport-McMoRan, Johnson Controls and Cloudflare, each about 1.2% to 1.4% of assets. The prospectus says industrials and technology companies made up a significant portion of the index as of April 30, 2026.
What is the expense ratio of IMCG?
IMCG's expense ratio is 0.06%, according to its prospectus filed August 21, 2026. Similar funds average 0.15%, and Vanguard Mid-Cap Growth ETF (VOT) charges 0.07%. The SEC's standard example assumes $10,000 invested with a 5% annual return. On that basis, total costs would be about $6 after one year, $34 after five years and $77 after 10 years.
IMCG vs VOT: what's the difference?
Both funds hold US mid-cap growth stocks for low fees, but their portfolios differ. In the latest N-PORT reports, only about 46% of their holdings overlapped. IMCG charges 0.06% and VOT 0.07%. Their one-year returns were far apart: 14.6% for IMCG through October 27, 2026, against 1.3% for VOT through October 29, 2026. VOT is much larger, with $34.8 billion in net assets as of June 30, 2026. IMCG had $3.9 billion as of July 31, 2026.
Does IMCG pay dividends?
Yes, IMCG pays dividends every quarter, but the payments are small. Its yield over the past 12 months was 0.65% as of October 27, 2026, or about $0.62 per share. That's common for growth-focused stock funds, because fast-growing companies often reinvest their profits instead of paying them out. Investors who want regular income are likely to find more of it in dividend-focused funds.
How has IMCG performed over the long term?
According to its prospectus, IMCG returned 12.71% a year over the 10 years through December 31, 2025. The broad Morningstar US Market Index returned 14.4% a year over the same period. Over five years, the fund returned 5.42% a year against 13.29% for that index. Results swung widely along the way. The fund gained 45.65% in 2020 and lost 25.85% in 2022. Its strongest quarter was up 34.59%, and its weakest was down 19.07%.