IQLT vs. AVES
IQLT (iShares MSCI Intl Quality Factor ETF) and AVES (Avantis Emerging Markets Value ETF) are both exchange-traded funds - IQLT is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net), while AVES is a Emerging Markets Equities fund actively managed by Avantis. IQLT is passively managed, while AVES is actively managed. Over the past 3 years, IQLT returned 13.90%/yr vs 16.57%/yr for AVES. A 0.77 correlation means they provide meaningful diversification when combined. IQLT charges 0.30%/yr vs 0.36%/yr for AVES.
Performance
IQLT vs. AVES - Performance Comparison
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Returns By Period
In the year-to-date period, IQLT achieves a 10.81% return, which is significantly higher than AVES's 9.94% return.
IQLT
- 1D
- 1.14%
- 1M
- 0.57%
- 6M
- 8.08%
- YTD
- 10.81%
- 1Y
- 18.92%
- 3Y*
- 13.90%
- 5Y*
- 7.74%
- 10Y*
- 9.70%
- ALL TIME*
- 8.55%
AVES
- 1D
- 2.25%
- 1M
- -6.96%
- 6M
- 5.23%
- YTD
- 9.94%
- 1Y
- 18.59%
- 3Y*
- 16.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.56%
IQLT vs. AVES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IQLT iShares MSCI Intl Quality Factor ETF | 10.81% | 25.42% | 1.54% | 18.73% | -15.22% | 4.68% |
AVES Avantis Emerging Markets Value ETF | 9.94% | 30.49% | 4.50% | 16.79% | -16.04% | 0.95% |
Correlation
The correlation between IQLT and AVES is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.77 |
The correlation between IQLT and AVES has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
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Return for Risk
IQLT vs. AVES — Risk / Return Rank
IQLT
AVES
IQLT vs. AVES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Intl Quality Factor ETF (IQLT) and Avantis Emerging Markets Value ETF (AVES). 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.
| IQLT | AVES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.45 | +0.38 |
| Martin ratioReturn relative to average drawdown | 6.95 | 4.69 | +2.26 |
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Drawdowns
IQLT vs. AVES - Drawdown Comparison
The maximum IQLT drawdown since its inception was -32.21%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for IQLT and AVES.
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Drawdown Indicators
| IQLT | AVES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.21% | -27.40% | -4.81% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -12.90% | +2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -18.50% | +5.32% |
Max Drawdown (5Y)Largest decline over 5 years | -30.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.21% | — | — |
Current DrawdownCurrent decline from peak | -0.72% | -7.50% | +6.78% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -7.65% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 3.97% | -1.24% |
Volatility
IQLT vs. AVES - Volatility Comparison
The current volatility for iShares MSCI Intl Quality Factor ETF (IQLT) is 3.98%, while Avantis Emerging Markets Value ETF (AVES) has a volatility of 7.21%. This indicates that IQLT experiences smaller price fluctuations and is considered to be less risky than AVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQLT | AVES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 7.21% | -3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 17.55% | -4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.17% | 19.59% | -4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 17.42% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 17.42% | -0.66% |
IQLT vs. AVES - Expense Ratio Comparison
IQLT has a 0.30% expense ratio, which is lower than AVES's 0.36% expense ratio.
Dividends
IQLT vs. AVES - Dividend Comparison
IQLT's dividend yield for the trailing twelve months is around 2.41%, less than AVES's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVES Avantis Emerging Markets Value ETF | 2.54% | 3.17% | 4.09% | 3.96% | 3.70% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IQLT iShares MSCI Intl Quality Factor ETF | 2.41% | 2.33% | 2.87% | 2.27% | 3.14% | 2.24% | 1.61% | 2.28% | 2.72% | 2.36% | 2.91% | 2.78% |
Frequently Asked Questions
IQLT and AVES have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVES has higher volatility (7.21%) compared to IQLT (3.98%). In terms of maximum drawdown, IQLT dropped -32.21% vs AVES's -27.40%.
On 3-year performance, AVES leads with 16.57% vs 13.90% for IQLT. On fees, IQLT is cheaper at 0.30% per year. On volatility, IQLT has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVES has performed better with a 16.57% return vs 13.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQLT is cheaper with a 0.30% expense ratio, compared with 0.36% for AVES.
AVES has the higher dividend yield at 2.54%, compared with 2.41% for IQLT.
IQLT is categorized as Foreign Large Cap Equities, while AVES is Emerging Markets Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.30% for IQLT and 0.36% for AVES.
IQLT currently has the higher Sharpe Ratio (1.25 vs 0.95), 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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