FQAL vs IVV
Fidelity Quality Factor ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FQAL | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $1.4B | $907.0B | |
| Dividend Yield | 1.15% | 1.10% | |
| Holdings | 130 | 508 | |
| YTD Return | +12.56% | +12.71% | |
| 1Y Return | +19.37% | +21.89% | |
| 3Y Return (annualized) | +20.54% | +22.08% | |
| 5Y Return (annualized) | +11.62% | +12.96% | |
| Volatility (annualized) | 15.0% | 15.1% | |
| Max Drawdown | -34.1% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Sep 12, 2016 | May 15, 2000 |
FQAL vs IVV Performance
Fidelity Quality Factor ETF (FQAL) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FQAL returned +19.37% while IVV returned +21.89%. Year to date, FQAL is up 12.56% versus a gain of 12.71% for IVV.
Over three years, FQAL compounded at +20.54% per year against +22.08% for IVV; over five years the annualized figures are +11.62% and +12.96% respectively. Across the full 10-year window we track, FQAL has the edge at +13.76% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 15.0% for FQAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.1% for FQAL and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FQAL charges 0.15% per year while IVV charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, FQAL currently yields 1.15% against 1.10% for IVV.
Holdings Overlap
FQAL and IVV share 106 holdings out of 524 unique holdings combined, representing a 51.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FQAL or IVV?
FQAL has an expense ratio of 0.15% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, FQAL or IVV?
Over the past year FQAL returned +19.37% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (10 years), FQAL annualized +13.76% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, FQAL or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 15.0% for FQAL. Worst drawdown: FQAL -34.1% vs IVV -56.5%.
Should I hold both FQAL and IVV?
FQAL and IVV have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FQAL and IVV?
FQAL and IVV share 106 common holdings with a 51.1% weight overlap. Combined, they hold 524 unique securities.
Which pays a higher dividend, FQAL or IVV?
FQAL yields 1.15% while IVV yields 1.10%, so FQAL currently pays the higher dividend yield.
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