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IUSV vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUSV vs. QUAL

Last updated Jul 22, 2026
Documentation

IUSV (iShares Core S&P U.S. Value ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both exchange-traded funds - IUSV is a Large Cap Value Equities fund tracking the S&P 900 Value Index, while QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 10 years, IUSV returned 11.69%/yr vs 13.99%/yr for QUAL. Their correlation of 0.85 suggests significant overlap in exposure. IUSV charges 0.04%/yr vs 0.15%/yr for QUAL.

Performance

IUSV vs. QUAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Value ETF (IUSV) and iShares MSCI USA Quality Factor ETF (QUAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with IUSV having a 9.86% return and QUAL slightly higher at 10.25%. Over the past 10 years, IUSV has underperformed QUAL with an annualized return of 11.69%, while QUAL has yielded a comparatively higher 13.99% annualized return.

IUSV

1D
0.38%
1M
1.88%
6M
8.77%
YTD
9.86%
1Y
18.99%
3Y*
13.82%
5Y*
11.54%
10Y*
11.69%
ALL TIME*
11.49%

QUAL

1D
0.55%
1M
1.04%
6M
9.75%
YTD
10.25%
1Y
19.40%
3Y*
17.75%
5Y*
11.28%
10Y*
13.99%
ALL TIME*
13.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSV vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUSV
iShares Core S&P U.S. Value ETF		9.86%12.85%12.18%21.73%-5.40%25.22%1.56%31.47%-9.21%15.09%
QUAL
iShares MSCI USA Quality Factor ETF		10.25%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-5.70%22.26%

Correlation

The correlation between IUSV and QUAL is 0.80, 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

0.80

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

0.77

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

0.83

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

0.84

Correlation (All Time)
Calculated using the full available price history since Jul 18, 2013

0.85

The correlation between IUSV and QUAL has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

IUSV vs. QUAL - Sectors Allocation Comparison

Sectors
IUSV
QUAL

Technology

20.9%
40.2%

Financial Services

16.0%
10.9%

Healthcare

11.7%
9.2%

Industrials

10.9%
7.4%

Consumer Cyclical

10.6%
9.0%

Consumer Defensive

8.5%
4.3%

Energy

7.0%
2.9%

Utilities

4.4%
2.1%

Real Estate

3.6%
1.7%

Basic Materials

3.5%
1.9%

Communication Services

2.6%
10.3%

Technology

IUSV
20.9%
QUAL
40.2%

Financial Services

IUSV
16.0%
QUAL
10.9%

Healthcare

IUSV
11.7%
QUAL
9.2%

Industrials

IUSV
10.9%
QUAL
7.4%

Consumer Cyclical

IUSV
10.6%
QUAL
9.0%

Consumer Defensive

IUSV
8.5%
QUAL
4.3%

Energy

IUSV
7.0%
QUAL
2.9%

Utilities

IUSV
4.4%
QUAL
2.1%

Real Estate

IUSV
3.6%
QUAL
1.7%

Basic Materials

IUSV
3.5%
QUAL
1.9%

Communication Services

IUSV
2.6%
QUAL
10.3%

Compare stocks, funds, or ETFs

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

iShares Core S&P U.S. Value ETF

iShares MSCI USA Quality Factor ETF

Often compared with IUSV:
IUSV vs. IUSGIUSV vs. VTVIUSV vs. SPYIUSV vs. VOOIUSV vs. SCHDIUSV vs. VLUEIUSV vs. DGRO
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

IUSV vs. QUAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSV
IUSV Risk / Return Rank: 7979
Overall Rank
IUSV Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
IUSV Sortino Ratio Rank: 7979
Sortino Ratio Rank
IUSV Omega Ratio Rank: 7878
Omega Ratio Rank
IUSV Calmar Ratio Rank: 7878
Calmar Ratio Rank
IUSV Martin Ratio Rank: 8181
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 6565
Overall Rank
QUAL Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 6666
Sortino Ratio Rank
QUAL Omega Ratio Rank: 6363
Omega Ratio Rank
QUAL Calmar Ratio Rank: 5858
Calmar Ratio Rank
QUAL Martin Ratio Rank: 7373
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.

IUSV vs. QUAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Value ETF (IUSV) and iShares MSCI USA Quality Factor ETF (QUAL). 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.

IUSVQUALDifference
Sharpe ratioReturn per unit of total volatility
1.90
1.60

+0.30

Sortino ratioReturn per unit of downside risk
2.67
2.29

+0.39

Omega ratioGain probability vs. loss probability

1.34

1.28

+0.06

Calmar ratioReturn relative to maximum drawdown

3.00

2.16

+0.84

Martin ratioReturn relative to average drawdown

11.39

9.67

+1.72

IUSV vs. QUAL - Sharpe Ratio Comparison

The current IUSV Sharpe Ratio is 1.90, which is comparable to the QUAL Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of IUSV and QUAL, 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

IUSV vs. QUAL - Drawdown Comparison

The maximum IUSV drawdown since its inception was -56.88%, which is greater than QUAL's maximum drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for IUSV and QUAL.

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Drawdown Indicators

IUSVQUALDifference

Max Drawdown

Largest peak-to-trough decline

-56.88%

-34.06%

-22.82%

Max Drawdown (1Y)

Largest decline over 1 year

-6.36%

-9.03%

+2.67%

Max Drawdown (3Y)

Largest decline over 3 years

-17.76%

-18.00%

+0.24%

Max Drawdown (5Y)

Largest decline over 5 years

-17.95%

-28.23%

+10.28%

Max Drawdown (10Y)

Largest decline over 10 years

-37.54%

-34.06%

-3.48%

Current Drawdown

Current decline from peak

-0.79%

-1.15%

+0.36%

Average Drawdown

Average peak-to-trough decline

-6.26%

-4.07%

-2.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.67%

2.01%

-0.34%

Volatility

IUSV vs. QUAL - Volatility Comparison

The current volatility for iShares Core S&P U.S. Value ETF (IUSV) is 2.14%, while iShares MSCI USA Quality Factor ETF (QUAL) has a volatility of 3.13%. This indicates that IUSV experiences smaller price fluctuations and is considered to be less risky than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSVQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.14%

3.13%

-0.99%

Volatility (6M)

Calculated over the trailing 6-month period

7.39%

9.79%

-2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

10.04%

12.20%

-2.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.44%

17.38%

-2.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.99%

18.08%

-1.09%

IUSV vs. QUAL - Expense Ratio Comparison

IUSV has a 0.04% expense ratio, which is lower than QUAL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUSV vs. QUAL - Dividend Comparison

IUSV's dividend yield for the trailing twelve months is around 1.67%, more than QUAL's 0.86% yield.

PositionTTM20252024202320222021202020192018201720162015
IUSV
iShares Core S&P U.S. Value ETF		1.67%1.78%2.15%1.75%2.22%1.87%2.40%2.19%2.67%1.93%4.44%7.63%
QUAL
iShares MSCI USA Quality Factor ETF		0.86%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%

Frequently Asked Questions

IUSV and QUAL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUAL has higher volatility (3.13%) compared to IUSV (2.14%). In terms of maximum drawdown, IUSV dropped -56.88% vs QUAL's -34.06%.

On 10-year performance, QUAL leads with 13.99% vs 11.69% for IUSV. On fees, IUSV is cheaper at 0.04% per year. On volatility, IUSV has been the lower-risk option at 2.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QUAL has performed better with a 13.99% return vs 11.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IUSV is cheaper with a 0.04% expense ratio, compared with 0.15% for QUAL.

IUSV has the higher dividend yield at 1.67%, compared with 0.86% for QUAL.

IUSV is categorized as Large Cap Value Equities, while QUAL is Large Cap Blend Equities. IUSV tracks S&P 900 Value Index, while QUAL tracks MSCI USA Sector Neutral Quality Index. Their fees differ too: 0.04% for IUSV and 0.15% for QUAL.

IUSV currently has the higher Sharpe Ratio (1.90 vs 1.60), 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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