IVV vs QVAL
iShares Core S&P 500 ETF vs Alpha Architect US Quantitative Value ETF
Quick Verdict
IVV has a lower expense ratio. QVAL delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | QVAL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.28% | |
| AUM | $886.7B | $633M | |
| Dividend Yield | 1.10% | 1.42% | |
| Holdings | 508 | 52 | |
| YTD Return | +12.13% | +25.96% | |
| 1Y Return | +20.37% | +37.47% | |
| 3Y Return (annualized) | +20.91% | +20.24% | |
| 5Y Return (annualized) | +12.59% | +13.24% | |
| Volatility (annualized) | 15.1% | 21.1% | |
| Max Drawdown | -56.5% | -53.3% | |
| Fund Family | iShares by BlackRock (US) | Alpha Architect | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Oct 22, 2014 |
IVV vs QVAL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Alpha Architect US Quantitative Value ETF (QVAL) is a ETF from Alpha Architect. Over the past year IVV returned +20.37% while QVAL returned +37.47%. Year to date, IVV is up 12.13% versus a gain of 25.96% for QVAL.
Over three years, IVV compounded at +20.91% per year against +20.24% for QVAL; over five years the annualized figures are +12.59% and +13.24% respectively. Across the full 12-year window we track, QVAL has the edge at +8.85% annualized vs +6.97%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QVAL has been the more volatile fund, with annualized monthly volatility of 21.1% compared with 15.1% for IVV. 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 -56.5% for IVV and -53.3% for QVAL. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while QVAL charges 0.28%. On a $10,000 position that is $3 vs $28 annually, a gap of $25 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 1.42% for QVAL.
Holdings Overlap
IVV and QVAL share 35 holdings out of 521 unique holdings combined, representing a 2.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or QVAL?
IVV has an expense ratio of 0.03% while QVAL charges 0.28%. IVV is the cheaper option. On a $10,000 investment, that is $25 per year of difference.
Which performed better, IVV or QVAL?
Over the past year IVV returned +20.37% vs +37.47% for QVAL, so QVAL leads on 1-year performance. Over the longest common window we track (12 years), IVV annualized +6.97% vs +8.85% for QVAL. Past performance does not guarantee future results.
Which is riskier, IVV or QVAL?
QVAL has been the more volatile fund at 21.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs QVAL -53.3%.
Should I hold both IVV and QVAL?
IVV and QVAL have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and QVAL?
IVV and QVAL share 35 common holdings with a 2.8% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, IVV or QVAL?
IVV yields 1.10% while QVAL yields 1.42%, so QVAL currently pays the higher dividend yield.
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