IVAL vs. CAPE
Compare and contrast key facts about Alpha Architect International Quantitative Value ETF (IVAL) and iPath Shiller CAPE ETN (CAPE).
IVAL and CAPE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVAL is an actively managed fund by Alpha Architect. It was launched on Dec 16, 2014. CAPE is a passively managed fund by Barclays Capital that tracks the performance of the Shiller Barclays CAPE US Core Sector Index. It was launched on Oct 10, 2012.
Performance
IVAL vs. CAPE - Performance Comparison
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IVAL vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IVAL Alpha Architect International Quantitative Value ETF | 8.42% | 34.92% | -0.71% | 20.61% | -11.47% |
CAPE iPath Shiller CAPE ETN | -4.29% | 9.10% | 14.40% | 27.65% | -15.28% |
Returns By Period
In the year-to-date period, IVAL achieves a 8.42% return, which is significantly higher than CAPE's -4.29% return.
IVAL
- 1D
- 2.88%
- 1M
- -7.11%
- YTD
- 8.42%
- 6M
- 14.13%
- 1Y
- 37.22%
- 3Y*
- 17.52%
- 5Y*
- 8.19%
- 10Y*
- 7.75%
CAPE
- 1D
- 2.22%
- 1M
- -7.33%
- YTD
- -4.29%
- 6M
- -4.53%
- 1Y
- 2.96%
- 3Y*
- 12.22%
- 5Y*
- —
- 10Y*
- —
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IVAL vs. CAPE - Expense Ratio Comparison
IVAL has a 0.39% expense ratio, which is lower than CAPE's 0.45% expense ratio.
Return for Risk
IVAL vs. CAPE — Risk / Return Rank
IVAL
CAPE
IVAL vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect International Quantitative Value ETF (IVAL) and iPath Shiller CAPE ETN (CAPE). 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.
| IVAL | CAPE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.13 | 0.20 | +1.93 |
Sortino ratioReturn per unit of downside risk | 2.85 | 0.40 | +2.44 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.05 | +0.36 |
Calmar ratioReturn relative to maximum drawdown | 3.24 | 0.37 | +2.87 |
Martin ratioReturn relative to average drawdown | 12.61 | 1.50 | +11.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IVAL | CAPE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 0.20 | +1.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.39 | -0.06 |
Correlation
The correlation between IVAL and CAPE is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IVAL vs. CAPE - Dividend Comparison
IVAL's dividend yield for the trailing twelve months is around 2.77%, more than CAPE's 1.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVAL Alpha Architect International Quantitative Value ETF | 2.77% | 2.75% | 3.60% | 5.15% | 8.00% | 3.95% | 2.07% | 2.51% | 2.93% | 1.73% | 2.02% | 1.86% |
CAPE iPath Shiller CAPE ETN | 1.46% | 1.39% | 1.23% | 1.01% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
IVAL vs. CAPE - Drawdown Comparison
The maximum IVAL drawdown since its inception was -46.09%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for IVAL and CAPE.
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Drawdown Indicators
| IVAL | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.09% | -22.07% | -24.02% |
Max Drawdown (1Y)Largest decline over 1 year | -11.24% | -10.89% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -31.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.09% | — | — |
Current DrawdownCurrent decline from peak | -7.11% | -7.33% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -12.12% | -5.00% | -7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.71% | +0.18% |
Volatility
IVAL vs. CAPE - Volatility Comparison
Alpha Architect International Quantitative Value ETF (IVAL) has a higher volatility of 7.41% compared to iPath Shiller CAPE ETN (CAPE) at 5.09%. This indicates that IVAL's price experiences larger fluctuations and is considered to be riskier than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVAL | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 5.09% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 8.01% | +3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 15.07% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 17.14% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 17.14% | +1.77% |