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IJJ vs. QVAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJJ vs. QVAL

Last updated Jun 26, 2026

IJJ (iShares S&P Mid-Cap 400 Value ETF) and QVAL (Alpha Architect U.S. Quantitative Value ETF) are both Mid Cap Value Equities funds. IJJ is passively managed, while QVAL is actively managed. Over the past 10 years, IJJ returned 11.30%/yr vs 12.48%/yr for QVAL. Their correlation of 0.87 suggests significant overlap in exposure. IJJ charges 0.18%/yr vs 0.28%/yr for QVAL.

Performance

IJJ vs. QVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P Mid-Cap 400 Value ETF (IJJ) and Alpha Architect U.S. Quantitative Value ETF (QVAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IJJ achieves a 12.50% return, which is significantly lower than QVAL's 15.25% return. Over the past 10 years, IJJ has underperformed QVAL with an annualized return of 11.30%, while QVAL has yielded a comparatively higher 12.48% annualized return.

IJJ

1D
0.90%
1M
3.60%
YTD
12.50%
6M
10.69%
1Y
22.58%
3Y*
14.51%
5Y*
8.54%
10Y*
11.30%

QVAL

1D
0.16%
1M
0.86%
YTD
15.25%
6M
13.28%
1Y
30.62%
3Y*
20.65%
5Y*
12.21%
10Y*
12.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJJ vs. QVAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJJ
iShares S&P Mid-Cap 400 Value ETF		12.50%7.27%11.63%15.24%-7.11%30.45%3.56%25.66%-12.06%12.04%
QVAL
Alpha Architect U.S. Quantitative Value ETF		15.25%10.98%12.21%28.40%-11.80%34.40%-5.93%24.06%-17.28%25.59%

Correlation

The correlation between IJJ and QVAL is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.87

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.88

Correlation (10Y)
Calculated over the trailing 10-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2016

0.87

The correlation between IJJ and QVAL has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

IJJ vs. QVAL - Sectors Allocation Comparison

Sectors
IJJ
QVAL

Financial Services

21.4%

-

Industrials

18.7%
14.1%

Consumer Cyclical

13.9%
23.8%

Technology

10.2%
8.3%

Real Estate

9.6%
2.0%

Energy

6.8%
16.1%

Basic Materials

6.3%
6.0%

Consumer Defensive

4.9%
9.8%

Utilities

4.0%
2.0%

Healthcare

3.8%
13.9%

Communication Services

0.5%
6.0%

Financial Services

IJJ
21.4%
QVAL

-

Industrials

IJJ
18.7%
QVAL
14.1%

Consumer Cyclical

IJJ
13.9%
QVAL
23.8%

Technology

IJJ
10.2%
QVAL
8.3%

Real Estate

IJJ
9.6%
QVAL
2.0%

Energy

IJJ
6.8%
QVAL
16.1%

Basic Materials

IJJ
6.3%
QVAL
6.0%

Consumer Defensive

IJJ
4.9%
QVAL
9.8%

Utilities

IJJ
4.0%
QVAL
2.0%

Healthcare

IJJ
3.8%
QVAL
13.9%

Communication Services

IJJ
0.5%
QVAL
6.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P Mid-Cap 400 Value ETF

Alpha Architect U.S. Quantitative Value ETF

Often compared with IJJ:
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Often compared with QVAL:
QVAL vs. AVUVQVAL vs. VLUEQVAL vs. QQQQVAL vs. SNPEQVAL vs. VTVQVAL vs. VFLOQVAL vs. VBR

Return for Risk

IJJ vs. QVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJJ
IJJ Risk / Return Rank: 4949
Overall Rank
IJJ Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IJJ Sortino Ratio Rank: 5252
Sortino Ratio Rank
IJJ Omega Ratio Rank: 4646
Omega Ratio Rank
IJJ Calmar Ratio Rank: 5050
Calmar Ratio Rank
IJJ Martin Ratio Rank: 5050
Martin Ratio Rank
QVAL
QVAL Risk / Return Rank: 8080
Overall Rank
QVAL Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QVAL Sortino Ratio Rank: 8383
Sortino Ratio Rank
QVAL Omega Ratio Rank: 6969
Omega Ratio Rank
QVAL Calmar Ratio Rank: 9191
Calmar Ratio Rank
QVAL Martin Ratio Rank: 8282
Martin Ratio Rank
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.

IJJ vs. QVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P Mid-Cap 400 Value ETF (IJJ) and Alpha Architect U.S. Quantitative Value ETF (QVAL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

IJJQVALDifference
Sharpe ratioReturn per unit of total volatility
1.47
2.10

-0.62

Sortino ratioReturn per unit of downside risk
2.22
3.21

-0.99

Omega ratioGain probability vs. loss probability

1.26

1.36

-0.10

Calmar ratioReturn relative to maximum drawdown

2.14

5.10

-2.95

Martin ratioReturn relative to average drawdown

7.40

14.23

-6.82

IJJ vs. QVAL - Sharpe Ratio Comparison

The current IJJ Sharpe Ratio is 1.47, which is comparable to the QVAL Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IJJ and QVAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IJJ vs. QVAL - Drawdown Comparison

The maximum IJJ drawdown since its inception was -58.00%, which is greater than QVAL's maximum drawdown of -51.49%. Use the drawdown chart below to compare losses from any high point for IJJ and QVAL.

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Drawdown Indicators

IJJQVALDifference

Max Drawdown

Largest peak-to-trough decline

-58.00%

-51.49%

-6.51%

Max Drawdown (1Y)

Largest decline over 1 year

-10.59%

-6.04%

-4.55%

Max Drawdown (3Y)

Largest decline over 3 years

-22.68%

-21.41%

-1.27%

Max Drawdown (5Y)

Largest decline over 5 years

-22.68%

-27.17%

+4.49%

Max Drawdown (10Y)

Largest decline over 10 years

-46.11%

-51.49%

+5.38%

Current Drawdown

Current decline from peak

0.00%

-1.47%

+1.47%

Average Drawdown

Average peak-to-trough decline

-7.92%

-7.76%

-0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.06%

2.16%

+0.90%

Volatility

IJJ vs. QVAL - Volatility Comparison

iShares S&P Mid-Cap 400 Value ETF (IJJ) has a higher volatility of 3.94% compared to Alpha Architect U.S. Quantitative Value ETF (QVAL) at 3.73%. This indicates that IJJ's price experiences larger fluctuations and is considered to be riskier than QVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJJQVALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.94%

3.73%

+0.21%

Volatility (6M)

Calculated over the trailing 6-month period

10.88%

10.21%

+0.67%

Volatility (1Y)

Calculated over the trailing 1-year period

15.43%

14.72%

+0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.52%

21.64%

-2.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.01%

22.77%

-0.76%

IJJ vs. QVAL - Expense Ratio Comparison

IJJ has a 0.18% expense ratio, which is lower than QVAL's 0.28% expense ratio.

Dividends

IJJ vs. QVAL - Dividend Comparison

IJJ's dividend yield for the trailing twelve months is around 1.59%, more than QVAL's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
IJJ
iShares S&P Mid-Cap 400 Value ETF		1.59%1.79%1.81%1.68%1.97%1.62%1.78%1.70%2.01%1.52%1.67%1.83%
QVAL
Alpha Architect U.S. Quantitative Value ETF		1.15%1.44%1.72%1.76%2.00%1.23%1.86%1.99%1.64%1.08%1.30%0.00%

Frequently Asked Questions

IJJ and QVAL have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IJJ has higher volatility (3.94%) compared to QVAL (3.73%). In terms of maximum drawdown, IJJ dropped -58.00% vs QVAL's -51.49%.

On 10-year performance, QVAL leads with 12.48% vs 11.30% for IJJ. On fees, IJJ is cheaper at 0.18% per year. On volatility, QVAL has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QVAL has performed better with a 12.48% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJJ is cheaper with a 0.18% expense ratio, compared with 0.28% for QVAL.

IJJ has the higher dividend yield at 1.59%, compared with 1.15% for QVAL.

They also come from different issuers: iShares and Alpha Architect. Their fees differ too: 0.18% for IJJ and 0.28% for QVAL.

QVAL currently has the higher Sharpe Ratio (2.10 vs 1.47), 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.

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