IVAL vs. EEMV

Last updated Jun 28, 2026

IVAL (Alpha Architect International Quantitative Value ETF) and EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) are both exchange-traded funds - IVAL is a Foreign Large Cap Equities fund actively managed by Alpha Architect, while EEMV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index. IVAL is actively managed, while EEMV is passively managed. Over the past 10 years, IVAL returned 8.51%/yr vs 6.64%/yr for EEMV. A 0.65 correlation means they provide meaningful diversification when combined. IVAL charges 0.39%/yr vs 0.25%/yr for EEMV.

Performance

IVAL vs. EEMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect International Quantitative Value ETF (IVAL) and iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVAL achieves a 10.35% return, which is significantly lower than EEMV's 16.72% return. Over the past 10 years, IVAL has outperformed EEMV with an annualized return of 8.51%, while EEMV has yielded a comparatively lower 6.64% annualized return.

IVAL

• 1D: 0.30%
• 1M: -2.47%
• YTD: 10.35%
• 6M: 10.02%
• 1Y: 26.22%
• 3Y*: 18.08%
• 5Y*: 8.20%
• 10Y*: 8.51%

EEMV

• 1D: -0.74%
• 1M: -0.78%
• YTD: 16.72%
• 6M: 15.97%
• 1Y: 21.24%
• 3Y*: 13.87%
• 5Y*: 5.57%
• 10Y*: 6.64%

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

IVAL vs. EEMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVAL Alpha Architect International Quantitative Value ETF	10.35%	34.92%	-0.71%	20.61%	-10.06%	-0.22%	-4.94%	21.26%	-22.50%	31.03%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	16.72%	13.45%	7.98%	7.75%	-13.94%	5.05%	6.90%	7.83%	-5.81%	27.28%

Correlation

The correlation between IVAL and EEMV is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 17, 2014	0.65

The correlation between IVAL and EEMV has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

IVAL vs. EEMV - Sectors Allocation Comparison

Sectors	IVAL	EEMV
Industrials	28.1%	6.6%
Consumer Cyclical	26.3%	6.2%
Basic Materials	12.0%	2.9%
Energy	9.9%	3.6%
Consumer Defensive	7.9%	5.6%
Communication Services	7.8%	10.1%
Healthcare	4.2%	5.4%
Technology	4.0%	36.5%
Financial Services	-	18.0%
Real Estate	-	0.6%
Utilities	-	4.4%

Return for Risk

IVAL vs. EEMV — Risk / Return Rank

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

IVAL

IVAL Risk / Return Rank: 59
IVAL Sharpe Ratio Rank: 62
IVAL Sortino Ratio Rank: 61
IVAL Omega Ratio Rank: 60
IVAL Calmar Ratio Rank: 58
IVAL Martin Ratio Rank: 54

EEMV

EEMV Risk / Return Rank: 48
EEMV Sharpe Ratio Rank: 43
EEMV Sortino Ratio Rank: 41
EEMV Omega Ratio Rank: 51
EEMV Calmar Ratio Rank: 52
EEMV Martin Ratio Rank: 52

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.

IVAL vs. EEMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect International Quantitative Value ETF (IVAL) and iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV). 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.

	IVAL	EEMV	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.38	+0.41
Sortino ratio: Return per unit of downside risk	2.53	1.94	+0.59
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.04
Calmar ratio: Return relative to maximum drawdown	2.47	2.28	+0.19
Martin ratio: Return relative to average drawdown	8.30	8.09	+0.21

IVAL vs. EEMV - Sharpe Ratio Comparison

The current IVAL Sharpe Ratio is 1.79, which is comparable to the EEMV Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of IVAL and EEMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IVAL vs. EEMV - Drawdown Comparison

The maximum IVAL drawdown since its inception was -46.09%, which is greater than EEMV's maximum drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for IVAL and EEMV.

Drawdown Indicators

	IVAL	EEMV	Difference
Max Drawdown Largest peak-to-trough decline	-46.09%	-31.56%	-14.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-9.22%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	-12.47%	-2.45%
Max Drawdown (5Y) Largest decline over 5 years	-29.24%	-21.90%	-7.34%
Max Drawdown (10Y) Largest decline over 10 years	-46.09%	-31.56%	-14.53%
Current Drawdown Current decline from peak	-5.45%	-3.69%	-1.76%
Average Drawdown Average peak-to-trough decline	-11.95%	-7.95%	-4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	2.59%	+0.75%

Volatility

IVAL vs. EEMV - Volatility Comparison

The current volatility for Alpha Architect International Quantitative Value ETF (IVAL) is 4.11%, while iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a volatility of 8.51%. This indicates that IVAL experiences smaller price fluctuations and is considered to be less risky than EEMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVAL	EEMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	8.51%	-4.40%
Volatility (6M) Calculated over the trailing 6-month period	12.43%	14.18%	-1.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.60%	15.20%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	12.36%	+5.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	13.97%	+4.66%

IVAL vs. EEMV - Expense Ratio Comparison

IVAL has a 0.39% expense ratio, which is higher than EEMV's 0.25% expense ratio.

Dividends

IVAL vs. EEMV - Dividend Comparison

IVAL's dividend yield for the trailing twelve months is around 1.58%, less than EEMV's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	2.19%	2.65%	3.50%	2.75%	1.93%	2.14%	2.45%	2.63%	2.46%	2.34%	2.79%	2.55%
IVAL Alpha Architect International Quantitative Value ETF	1.58%	2.75%	3.60%	5.15%	8.00%	3.95%	2.07%	2.51%	2.93%	1.73%	2.02%	1.86%

Frequently Asked Questions

Can I hold both IVAL and EEMV in my portfolio?

IVAL and EEMV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVAL or EEMV?

EEMV has higher volatility (8.51%) compared to IVAL (4.11%). In terms of maximum drawdown, IVAL dropped -46.09% vs EEMV's -31.56%.

Which ETF is better, IVAL or EEMV?

On 10-year performance, IVAL leads with 8.51% vs 6.64% for EEMV. On fees, EEMV is cheaper at 0.25% per year. On volatility, IVAL has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVAL or EEMV?

Over the 10-year period, IVAL has performed better with a 8.51% return vs 6.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVAL or EEMV?

EEMV is cheaper with a 0.25% expense ratio, compared with 0.39% for IVAL.

Which ETF pays a higher dividend yield, IVAL or EEMV?

EEMV has the higher dividend yield at 2.19%, compared with 1.58% for IVAL.

What is the main difference between IVAL and EEMV?

IVAL is categorized as Foreign Large Cap Equities, while EEMV is Emerging Markets Equities. They also come from different issuers: Alpha Architect and iShares. Their fees differ too: 0.39% for IVAL and 0.25% for EEMV.

Which has better risk-adjusted returns?

IVAL currently has the higher Sharpe Ratio (1.79 vs 1.38), 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.