AQLT vs. GVAL

Last updated Jun 4, 2026

AQLT (iShares MSCI Global Quality Factor ETF) and GVAL (Cambria Global Value ETF) are both Global Equities funds. AQLT is passively managed, while GVAL is actively managed. Over the past year, AQLT returned 29.00% vs 39.69% for GVAL. A 0.66 correlation means they provide meaningful diversification when combined. AQLT charges 0.20%/yr vs 0.64%/yr for GVAL.

Performance

AQLT vs. GVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Quality Factor ETF (AQLT) and Cambria Global Value ETF (GVAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQLT achieves a 12.40% return, which is significantly lower than GVAL's 14.37% return.

AQLT

• 1D: -0.37%
• 1M: 4.34%
• YTD: 12.40%
• 6M: 12.67%
• 1Y: 29.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GVAL

• 1D: -1.24%
• 1M: 3.64%
• YTD: 14.37%
• 6M: 15.35%
• 1Y: 39.69%
• 3Y*: 26.42%
• 5Y*: 13.14%
• 10Y*: 10.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AQLT vs. GVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AQLT iShares MSCI Global Quality Factor ETF	12.40%	17.65%	-3.14%
GVAL Cambria Global Value ETF	14.37%	55.87%	-2.18%

Correlation

The correlation between AQLT and GVAL is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.66

The correlation between AQLT and GVAL has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

Return for Risk

AQLT vs. GVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQLT

AQLT Risk / Return Rank: 64
AQLT Sharpe Ratio Rank: 66
AQLT Sortino Ratio Rank: 67
AQLT Omega Ratio Rank: 64
AQLT Calmar Ratio Rank: 55
AQLT Martin Ratio Rank: 67

GVAL

GVAL Risk / Return Rank: 77
GVAL Sharpe Ratio Rank: 83
GVAL Sortino Ratio Rank: 80
GVAL Omega Ratio Rank: 81
GVAL Calmar Ratio Rank: 69
GVAL Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQLT vs. GVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Quality Factor ETF (AQLT) and Cambria Global Value ETF (GVAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AQLT	GVAL	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.75	-0.57
Sortino ratio: Return per unit of downside risk	3.08	3.64	-0.55
Omega ratio: Gain probability vs. loss probability	1.39	1.49	-0.10
Calmar ratio: Return relative to maximum drawdown	2.73	3.47	-0.74
Martin ratio: Return relative to average drawdown	12.25	13.33	-1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQLT vs. GVAL - Sharpe Ratio Comparison

The current AQLT Sharpe Ratio is 2.18, which is comparable to the GVAL Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of AQLT and GVAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AQLT	GVAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	2.75	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.35	+0.74

Drawdowns

AQLT vs. GVAL - Drawdown Comparison

The maximum AQLT drawdown since its inception was -16.84%, smaller than the maximum GVAL drawdown of -46.82%. Use the drawdown chart below to compare losses from any high point for AQLT and GVAL.

Drawdown Indicators

	AQLT	GVAL	Difference
Max Drawdown Largest peak-to-trough decline	-16.84%	-46.82%	+29.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-11.50%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.82%	—
Current Drawdown Current decline from peak	-0.37%	-1.24%	+0.87%
Average Drawdown Average peak-to-trough decline	-2.32%	-13.88%	+11.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.99%	-0.62%

Volatility

AQLT vs. GVAL - Volatility Comparison

The current volatility for iShares MSCI Global Quality Factor ETF (AQLT) is 3.54%, while Cambria Global Value ETF (GVAL) has a volatility of 5.10%. This indicates that AQLT experiences smaller price fluctuations and is considered to be less risky than GVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQLT	GVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	5.10%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	12.72%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	14.52%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	18.46%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	19.21%	-2.22%

AQLT vs. GVAL - Expense Ratio Comparison

AQLT has a 0.20% expense ratio, which is lower than GVAL's 0.64% expense ratio.

Dividends

AQLT vs. GVAL - Dividend Comparison

AQLT's dividend yield for the trailing twelve months is around 0.93%, less than GVAL's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AQLT iShares MSCI Global Quality Factor ETF	0.93%	1.05%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GVAL Cambria Global Value ETF	2.83%	2.93%	4.75%	6.12%	5.05%	2.97%	1.90%	2.84%	4.65%	2.00%	2.54%	2.11%

Frequently Asked Questions

Can I hold both AQLT and GVAL in my portfolio?

AQLT and GVAL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AQLT or GVAL?

GVAL has higher volatility (5.10%) compared to AQLT (3.54%). In terms of maximum drawdown, AQLT dropped -16.84% vs GVAL's -46.82%.

Which ETF is better, AQLT or GVAL?

On 1-year performance, GVAL leads with 39.69% vs 29.00% for AQLT. On fees, AQLT is cheaper at 0.20% per year. On volatility, AQLT has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AQLT or GVAL?

Over the 1-year period, GVAL has performed better with a 39.69% return vs 29.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AQLT or GVAL?

AQLT is cheaper with a 0.20% expense ratio, compared with 0.64% for GVAL.

Which ETF pays a higher dividend yield, AQLT or GVAL?

GVAL has the higher dividend yield at 2.83%, compared with 0.93% for AQLT.

What is the main difference between AQLT and GVAL?

They also come from different issuers: iShares and Cambria. Their fees differ too: 0.20% for AQLT and 0.64% for GVAL.

Which has better risk-adjusted returns?

GVAL currently has the higher Sharpe Ratio (2.75 vs 2.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.