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QUAL vs. IVV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUAL vs. IVV

Last updated Jun 23, 2026

QUAL (iShares MSCI USA Quality Factor ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, QUAL returned 14.62%/yr vs 15.75%/yr for IVV. With a 0.96 correlation, they move nearly in lockstep. QUAL charges 0.15%/yr vs 0.03%/yr for IVV.

Performance

QUAL vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality Factor ETF (QUAL) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QUAL achieves a 9.09% return, which is significantly lower than IVV's 9.76% return. Over the past 10 years, QUAL has underperformed IVV with an annualized return of 14.62%, while IVV has yielded a comparatively higher 15.75% annualized return.

QUAL

1D
-0.03%
1M
0.86%
YTD
9.09%
6M
8.41%
1Y
24.05%
3Y*
19.05%
5Y*
11.96%
10Y*
14.62%

IVV

1D
-0.31%
1M
0.09%
YTD
9.76%
6M
9.30%
1Y
26.83%
3Y*
21.37%
5Y*
13.58%
10Y*
15.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUAL vs. IVV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QUAL
iShares MSCI USA Quality Factor ETF		9.09%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-5.70%22.26%
IVV
iShares Core S&P 500 ETF		9.76%17.85%24.93%26.31%-18.16%28.76%18.40%31.07%-4.49%21.75%

Correlation

The correlation between QUAL and IVV is 0.94, 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

0.94

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

0.96

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

0.97

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

0.97

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

0.96

The correlation between QUAL and IVV has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

QUAL vs. IVV - Sectors Allocation Comparison

Sectors
QUAL
IVV

Technology

38.8%
39.0%

Communication Services

11.8%
10.6%

Financial Services

10.8%
11.1%

Consumer Cyclical

9.3%
9.9%

Healthcare

8.7%
8.3%

Industrials

7.2%
7.8%

Consumer Defensive

4.4%
4.5%

Energy

3.2%
3.1%

Utilities

2.1%
2.1%

Basic Materials

1.9%
1.7%

Real Estate

1.8%
1.8%

Technology

QUAL
38.8%
IVV
39.0%

Communication Services

QUAL
11.8%
IVV
10.6%

Financial Services

QUAL
10.8%
IVV
11.1%

Consumer Cyclical

QUAL
9.3%
IVV
9.9%

Healthcare

QUAL
8.7%
IVV
8.3%

Industrials

QUAL
7.2%
IVV
7.8%

Consumer Defensive

QUAL
4.4%
IVV
4.5%

Energy

QUAL
3.2%
IVV
3.1%

Utilities

QUAL
2.1%
IVV
2.1%

Basic Materials

QUAL
1.9%
IVV
1.7%

Real Estate

QUAL
1.8%
IVV
1.8%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Quality Factor ETF

iShares Core S&P 500 ETF

Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. SCHDQUAL vs. GARP
Often compared with IVV:
IVV vs. VOOIVV vs. SPYIVV vs. FXAIXIVV vs. QQQIVV vs. VTIIVV vs. IOOIVV vs. CSPX.L

Return for Risk

QUAL vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUAL
QUAL Risk / Return Rank: 6262
Overall Rank
QUAL Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 6363
Sortino Ratio Rank
QUAL Omega Ratio Rank: 6060
Omega Ratio Rank
QUAL Calmar Ratio Rank: 5656
Calmar Ratio Rank
QUAL Martin Ratio Rank: 6868
Martin Ratio Rank
IVV
IVV Risk / Return Rank: 6969
Overall Rank
IVV Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IVV Sortino Ratio Rank: 6767
Sortino Ratio Rank
IVV Omega Ratio Rank: 6969
Omega Ratio Rank
IVV Calmar Ratio Rank: 6363
Calmar Ratio Rank
IVV Martin Ratio Rank: 7474
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.

QUAL vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) and iShares Core S&P 500 ETF (IVV). 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.

QUALIVVDifference
Sharpe ratioReturn per unit of total volatility
2.00
2.18

-0.17

Sortino ratioReturn per unit of downside risk
2.82
2.93

-0.12

Omega ratioGain probability vs. loss probability

1.35

1.39

-0.04

Calmar ratioReturn relative to maximum drawdown

2.67

3.03

-0.36

Martin ratioReturn relative to average drawdown

12.20

13.61

-1.42

QUAL vs. IVV - Sharpe Ratio Comparison

The current QUAL Sharpe Ratio is 2.00, which is comparable to the IVV Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of QUAL and IVV, 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

QUAL vs. IVV - Drawdown Comparison

The maximum QUAL drawdown since its inception was -34.06%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for QUAL and IVV.

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Drawdown Indicators

QUALIVVDifference

Max Drawdown

Largest peak-to-trough decline

-34.06%

-55.25%

+21.19%

Max Drawdown (1Y)

Largest decline over 1 year

-9.03%

-8.89%

-0.14%

Max Drawdown (3Y)

Largest decline over 3 years

-18.00%

-18.75%

+0.75%

Max Drawdown (5Y)

Largest decline over 5 years

-28.23%

-24.53%

-3.70%

Max Drawdown (10Y)

Largest decline over 10 years

-34.06%

-33.90%

-0.16%

Current Drawdown

Current decline from peak

-1.54%

-1.74%

+0.20%

Average Drawdown

Average peak-to-trough decline

-4.09%

-10.76%

+6.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.98%

0.00%

Volatility

QUAL vs. IVV - Volatility Comparison

The current volatility for iShares MSCI USA Quality Factor ETF (QUAL) is 3.85%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.67%. This indicates that QUAL experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUALIVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

4.67%

-0.82%

Volatility (6M)

Calculated over the trailing 6-month period

9.56%

9.75%

-0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

12.09%

12.41%

-0.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.38%

16.97%

+0.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.13%

18.10%

+0.03%

QUAL vs. IVV - Expense Ratio Comparison

QUAL has a 0.15% expense ratio, which is higher than IVV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QUAL vs. IVV - Dividend Comparison

QUAL's dividend yield for the trailing twelve months is around 0.87%, less than IVV's 1.09% yield.

PositionTTM20252024202320222021202020192018201720162015
IVV
iShares Core S&P 500 ETF		1.09%1.17%1.30%1.44%1.66%1.20%1.57%1.85%2.21%1.75%2.01%2.27%
QUAL
iShares MSCI USA Quality Factor ETF		0.87%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

With a correlation of 0.94, QUAL and IVV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IVV has higher volatility (4.67%) compared to QUAL (3.85%). In terms of maximum drawdown, QUAL dropped -34.06% vs IVV's -55.25%.

On 10-year performance, IVV leads with 15.75% vs 14.62% for QUAL. On fees, IVV is cheaper at 0.03% per year. On volatility, QUAL has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVV has performed better with a 15.75% return vs 14.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IVV is cheaper with a 0.03% expense ratio, compared with 0.15% for QUAL.

IVV has the higher dividend yield at 1.09%, compared with 0.87% for QUAL.

QUAL is categorized as Large Cap Blend Equities, while IVV is S&P 500. QUAL tracks MSCI USA Sector Neutral Quality Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.15% for QUAL and 0.03% for IVV.

IVV currently has the higher Sharpe Ratio (2.18 vs 2.00), 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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