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IVAL vs. IDEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVAL vs. IDEV

Last updated Aug 2, 2026
Documentation

IVAL (Alpha Architect International Quantitative Value ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds. IVAL is actively managed, while IDEV is passively managed. Over the past 5 years, IVAL returned 9.92%/yr vs 9.25%/yr for IDEV. Their correlation of 0.85 means they have usually moved in the same direction. IVAL charges 0.39%/yr vs 0.05%/yr for IDEV.

Performance

IVAL vs. IDEV - Performance Comparison

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

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Returns By Period

In the year-to-date period, IVAL achieves a 16.85% return, which is significantly higher than IDEV's 11.37% return.

IVAL

1D
-2.03%
1M
4.21%
6M
9.40%
YTD
16.85%
1Y
34.16%
3Y*
18.08%
5Y*
9.92%
10Y*
8.16%
ALL TIME*
6.66%

IDEV

1D
-0.72%
1M
1.04%
6M
6.43%
YTD
11.37%
1Y
25.30%
3Y*
16.97%
5Y*
9.25%
10Y*
—
ALL TIME*
9.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IDEV

iShares Core MSCI International Developed Markets ETF
$135.88M$124.12M$125.37M

IVAL

Alpha Architect International Quantitative Value ETF
$389.83K$422.74K$617.49K

IVAL vs. IDEV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVAL
Alpha Architect International Quantitative Value ETF		16.85%34.92%-0.71%20.61%-10.06%-0.22%-4.94%21.26%-22.50%19.54%
IDEV
iShares Core MSCI International Developed Markets ETF		11.37%32.56%4.54%17.36%-14.99%13.00%8.32%23.12%-14.10%17.43%

Correlation

The correlation between IVAL and IDEV is 0.82, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.82

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2017

0.85

The correlation between IVAL and IDEV has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

IVAL vs. IDEV - Sectors Allocation Comparison

Sectors
IVAL
IDEV

Industrials

22.0%
18.4%

Consumer Cyclical

21.7%
7.6%

Basic Materials

17.9%
7.5%

Energy

14.2%
5.0%

Consumer Defensive

10.2%
6.0%

Technology

6.1%
11.9%

Healthcare

4.1%
8.7%

Communication Services

4.0%
3.9%

Financial Services

-

24.8%

Real Estate

-

2.6%

Utilities

-

3.5%

Industrials

IVAL
22.0%
IDEV
18.4%

Consumer Cyclical

IVAL
21.7%
IDEV
7.6%

Basic Materials

IVAL
17.9%
IDEV
7.5%

Energy

IVAL
14.2%
IDEV
5.0%

Consumer Defensive

IVAL
10.2%
IDEV
6.0%

Technology

IVAL
6.1%
IDEV
11.9%

Healthcare

IVAL
4.1%
IDEV
8.7%

Communication Services

IVAL
4.0%
IDEV
3.9%

Financial Services

IVAL

-

IDEV
24.8%

Real Estate

IVAL

-

IDEV
2.6%

Utilities

IVAL

-

IDEV
3.5%

Compare stocks, funds, or ETFs

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

Alpha Architect International Quantitative Value ETF

iShares Core MSCI International Developed Markets ETF

Often compared with IVAL:
IVAL vs. IMOMIVAL vs. IPACIVAL vs. AVDVIVAL vs. DGSIVAL vs. AVESIVAL vs. VSSIVAL vs. FNDE
Often compared with IDEV:
IDEV vs. VYMIIDEV vs. VEAIDEV vs. IEFAIDEV vs. IXUSIDEV vs. SCHFIDEV vs. FDEVIDEV vs. VEU

Return for Risk

IVAL vs. IDEV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IVAL
IVAL Risk / Return Rank: 8686
Overall Rank
IVAL Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
IVAL Sortino Ratio Rank: 9090
Sortino Ratio Rank
IVAL Omega Ratio Rank: 8989
Omega Ratio Rank
IVAL Calmar Ratio Rank: 8484
Calmar Ratio Rank
IVAL Martin Ratio Rank: 8080
Martin Ratio Rank
IDEV
IDEV Risk / Return Rank: 7171
Overall Rank
IDEV Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IDEV Sortino Ratio Rank: 7373
Sortino Ratio Rank
IDEV Omega Ratio Rank: 7272
Omega Ratio Rank
IDEV Calmar Ratio Rank: 6565
Calmar Ratio Rank
IDEV Martin Ratio Rank: 7272
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IVAL vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect International Quantitative Value ETF (IVAL) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

IVALIDEVDifference
Sharpe ratioReturn per unit of total volatility
2.28
1.66

+0.62

Sortino ratioReturn per unit of downside risk
3.13
2.34

+0.78

Omega ratioGain probability vs. loss probability

1.40

1.30

+0.11

Calmar ratioReturn relative to maximum drawdown

3.14

2.24

+0.90

Martin ratioReturn relative to average drawdown

10.25

8.85

+1.40

IVAL vs. IDEV - Sharpe Ratio Comparison

The current IVAL Sharpe Ratio is 2.28, which is higher than the IDEV Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of IVAL and IDEV, 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

IVAL vs. IDEV - Drawdown Comparison

The maximum IVAL drawdown since its inception was -46.09%, which is greater than IDEV's maximum drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for IVAL and IDEV.

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Drawdown Indicators

IVALIDEVDifference

Max Drawdown

Largest peak-to-trough decline

-46.09%

-34.77%

-11.32%

Max Drawdown (1Y)

Largest decline over 1 year

-11.24%

-11.20%

-0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-14.92%

-13.41%

-1.51%

Max Drawdown (5Y)

Largest decline over 5 years

-28.51%

-29.15%

+0.64%

Max Drawdown (10Y)

Largest decline over 10 years

-46.09%

—

—

Current Drawdown

Current decline from peak

-2.03%

-0.72%

-1.31%

Average Drawdown

Average peak-to-trough decline

-11.88%

-6.47%

-5.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

2.83%

+0.61%

Volatility

IVAL vs. IDEV - Volatility Comparison

Alpha Architect International Quantitative Value ETF (IVAL) has a higher volatility of 4.97% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 4.44%. This indicates that IVAL's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVALIDEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.97%

4.44%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

12.96%

13.19%

-0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

15.53%

15.21%

+0.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.78%

16.36%

+1.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.61%

17.25%

+1.36%

IVAL vs. IDEV - Expense Ratio Comparison

IVAL has a 0.39% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

IVAL vs. IDEV - Dividend Comparison

IVAL's dividend yield for the trailing twelve months is around 2.61%, less than IDEV's 3.18% yield.

PositionTTM20252024202320222021202020192018201720162015
IDEV
iShares Core MSCI International Developed Markets ETF		3.18%3.40%3.30%3.07%2.69%3.05%2.00%3.18%3.16%1.54%0.00%0.00%
IVAL
Alpha Architect International Quantitative Value ETF		2.61%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

IVAL and IDEV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVAL has higher volatility (4.97%) compared to IDEV (4.44%). In terms of maximum drawdown, IVAL dropped -46.09% vs IDEV's -34.77%.

On 5-year performance, IVAL leads with 9.92% vs 9.25% for IDEV. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IVAL has performed better with a 9.92% return vs 9.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IDEV is cheaper with a 0.05% expense ratio, compared with 0.39% for IVAL.

IDEV has the higher dividend yield at 3.18%, compared with 2.61% for IVAL.

They also come from different issuers: Alpha Architect and iShares. Their fees differ too: 0.39% for IVAL and 0.05% for IDEV.

IVAL currently has the higher Sharpe Ratio (2.28 vs 1.66), 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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