IVAL vs. QQQ

Last updated Jun 3, 2026

IVAL (Alpha Architect International Quantitative Value ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - IVAL is a Foreign Large Cap Equities fund actively managed by Alpha Architect, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. IVAL is actively managed, while QQQ is passively managed. Over the past 10 years, IVAL returned 8.07%/yr vs 21.97%/yr for QQQ. A 0.54 correlation means they provide meaningful diversification when combined. IVAL charges 0.39%/yr vs 0.18%/yr for QQQ.

Performance

IVAL vs. QQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, IVAL achieves a 13.85% return, which is significantly lower than QQQ's 21.62% return. Over the past 10 years, IVAL has underperformed QQQ with an annualized return of 8.07%, while QQQ has yielded a comparatively higher 21.97% annualized return.

IVAL

• 1D: 0.74%
• 1M: 2.92%
• YTD: 13.85%
• 6M: 17.68%
• 1Y: 31.25%
• 3Y*: 20.10%
• 5Y*: 8.74%
• 10Y*: 8.07%

QQQ

• 1D: 0.46%
• 1M: 10.68%
• YTD: 21.62%
• 6M: 20.27%
• 1Y: 43.30%
• 3Y*: 28.89%
• 5Y*: 18.43%
• 10Y*: 21.97%

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

IVAL vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVAL Alpha Architect International Quantitative Value ETF	13.85%	34.92%	-0.71%	20.61%	-10.06%	-0.22%	-4.94%	21.26%	-22.50%	31.03%
QQQ Invesco QQQ ETF	21.62%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between IVAL and QQQ is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 18, 2014	0.54

The correlation between IVAL and QQQ has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

IVAL vs. QQQ - Sectors Allocation Comparison

Sectors	IVAL	QQQ
Industrials	28.5%	2.8%
Consumer Cyclical	23.5%	12.3%
Basic Materials	21.2%	1.1%
Energy	11.6%	0.6%
Consumer Defensive	7.4%	7.7%
Technology	3.9%	53.8%
Communication Services	2.1%	15.8%
Healthcare	1.8%	4.2%
Financial Services	-	0.2%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

IVAL vs. QQQ — 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: 60
IVAL Sortino Ratio Rank: 60
IVAL Omega Ratio Rank: 60
IVAL Calmar Ratio Rank: 58
IVAL Martin Ratio Rank: 58

QQQ

QQQ Risk / Return Rank: 77
QQQ Sharpe Ratio Rank: 83
QQQ Sortino Ratio Rank: 78
QQQ Omega Ratio Rank: 77
QQQ Calmar Ratio Rank: 73
QQQ Martin Ratio Rank: 74

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect International Quantitative Value ETF (IVAL) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio Return per unit of total volatility	2.04	2.73	-0.69
Sortino ratio Return per unit of downside risk	2.87	3.55	-0.68
Omega ratio Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio Return relative to maximum drawdown	2.92	3.71	-0.79
Martin ratio Return relative to average drawdown	10.32	14.30	-3.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVAL vs. QQQ - Sharpe Ratio Comparison

The current IVAL Sharpe Ratio is 2.04, which is comparable to the QQQ Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of IVAL and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVAL	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.73	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.83	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.99	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.41	-0.07

Drawdowns

IVAL vs. QQQ - Drawdown Comparison

The maximum IVAL drawdown since its inception was -46.09%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for IVAL and QQQ.

Drawdown Indicators

	IVAL	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-46.09%	-82.97%	+36.88%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-11.96%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	-22.77%	+7.85%
Max Drawdown (5Y) Largest decline over 5 years	-31.01%	-35.12%	+4.11%
Max Drawdown (10Y) Largest decline over 10 years	-46.09%	-35.12%	-10.97%
Current Drawdown Current decline from peak	-2.45%	0.00%	-2.45%
Average Drawdown Average peak-to-trough decline	-12.00%	-32.79%	+20.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.11%	+0.07%

Volatility

IVAL vs. QQQ - Volatility Comparison

The current volatility for Alpha Architect International Quantitative Value ETF (IVAL) is 3.96%, while Invesco QQQ ETF (QQQ) has a volatility of 4.48%. This indicates that IVAL experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVAL	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	4.48%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	12.11%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.39%	15.95%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	22.39%	-4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	22.30%	-3.46%

IVAL vs. QQQ - Expense Ratio Comparison

IVAL has a 0.39% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

IVAL vs. QQQ - Dividend Comparison

IVAL's dividend yield for the trailing twelve months is around 2.64%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVAL Alpha Architect International Quantitative Value ETF	2.64%	2.75%	3.60%	5.15%	8.00%	3.95%	2.07%	2.51%	2.93%	1.73%	2.02%	1.86%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both IVAL and QQQ in my portfolio?

IVAL and QQQ have a correlation of 0.45, 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 QQQ?

QQQ has higher volatility (4.48%) compared to IVAL (3.96%). In terms of maximum drawdown, IVAL dropped -46.09% vs QQQ's -82.97%.

Which ETF is better, IVAL or QQQ?

On 10-year performance, QQQ leads with 21.97% vs 8.07% for IVAL. On fees, QQQ is cheaper at 0.18% per year. On volatility, IVAL has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVAL or QQQ?

Over the 10-year period, QQQ has performed better with a 21.97% return vs 8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVAL or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for IVAL.

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

IVAL has the higher dividend yield at 2.64%, compared with 0.38% for QQQ.

What is the main difference between IVAL and QQQ?

IVAL is categorized as Foreign Large Cap Equities, while QQQ is Nasdaq-100. They also come from different issuers: Alpha Architect and Invesco. Their fees differ too: 0.39% for IVAL and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.73 vs 2.04), 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.