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QVAL vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QVAL vs. QQQ

Last updated Jun 23, 2026

QVAL (Alpha Architect U.S. Quantitative Value ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - QVAL is a Mid Cap Value Equities fund actively managed by Alpha Architect, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. QVAL is actively managed, while QQQ is passively managed. Over the past 10 years, QVAL returned 11.91%/yr vs 22.48%/yr for QQQ. A 0.55 correlation means they provide meaningful diversification when combined. QVAL charges 0.28%/yr vs 0.18%/yr for QQQ.

Performance

QVAL vs. QQQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, QVAL achieves a 14.07% return, which is significantly lower than QQQ's 20.41% return. Over the past 10 years, QVAL has underperformed QQQ with an annualized return of 11.91%, while QQQ has yielded a comparatively higher 22.48% annualized return.

QVAL

1D
-0.02%
1M
0.87%
YTD
14.07%
6M
12.19%
1Y
29.20%
3Y*
20.50%
5Y*
12.32%
10Y*
11.91%

QQQ

1D
-0.25%
1M
2.96%
YTD
20.41%
6M
19.46%
1Y
40.91%
3Y*
27.47%
5Y*
16.94%
10Y*
22.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QVAL vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QVAL
Alpha Architect U.S. Quantitative Value ETF		14.07%10.98%12.21%28.40%-11.80%34.40%-5.93%24.06%-17.28%25.59%
QQQ
Invesco QQQ ETF		20.41%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between QVAL and QQQ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

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

0.48

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

0.56

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

0.55

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2016

0.55

The correlation between QVAL and QQQ shifts across timeframes, from 0.40 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

QVAL vs. QQQ - Sectors Allocation Comparison

Sectors
QVAL
QQQ

Consumer Cyclical

23.8%
11.4%

Energy

16.1%
0.5%

Industrials

14.1%
2.6%

Healthcare

13.9%
3.7%

Consumer Defensive

9.8%
6.4%

Technology

8.3%
58.7%

Communication Services

6.0%
14.3%

Basic Materials

6.0%
1.0%

Utilities

2.0%
1.2%

Real Estate

2.0%
0.1%

Financial Services

-

0.2%

Consumer Cyclical

QVAL
23.8%
QQQ
11.4%

Energy

QVAL
16.1%
QQQ
0.5%

Industrials

QVAL
14.1%
QQQ
2.6%

Healthcare

QVAL
13.9%
QQQ
3.7%

Consumer Defensive

QVAL
9.8%
QQQ
6.4%

Technology

QVAL
8.3%
QQQ
58.7%

Communication Services

QVAL
6.0%
QQQ
14.3%

Basic Materials

QVAL
6.0%
QQQ
1.0%

Utilities

QVAL
2.0%
QQQ
1.2%

Real Estate

QVAL
2.0%
QQQ
0.1%

Financial Services

QVAL

-

QQQ
0.2%

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 U.S. Quantitative Value ETF

Invesco QQQ ETF

Often compared with QVAL:
QVAL vs. AVUVQVAL vs. VLUEQVAL vs. SNPEQVAL vs. VTVQVAL vs. VFLOQVAL vs. VBRQVAL vs. IVV
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

QVAL vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QVAL
QVAL Risk / Return Rank: 7070
Overall Rank
QVAL Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
QVAL Sortino Ratio Rank: 7171
Sortino Ratio Rank
QVAL Omega Ratio Rank: 5656
Omega Ratio Rank
QVAL Calmar Ratio Rank: 8888
Calmar Ratio Rank
QVAL Martin Ratio Rank: 7474
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7272
Overall Rank
QQQ Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7272
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7070
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
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.

QVAL vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Value ETF (QVAL) 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.

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.

QVALQQQDifference
Sharpe ratioReturn per unit of total volatility
1.99
2.33

-0.34

Sortino ratioReturn per unit of downside risk
3.07
3.03

+0.04

Omega ratioGain probability vs. loss probability

1.34

1.41

-0.07

Calmar ratioReturn relative to maximum drawdown

4.86

3.44

+1.42

Martin ratioReturn relative to average drawdown

13.62

12.79

+0.83

QVAL vs. QQQ - Sharpe Ratio Comparison

The current QVAL Sharpe Ratio is 1.99, which is comparable to the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of QVAL 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.

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Drawdowns

QVAL vs. QQQ - Drawdown Comparison

The maximum QVAL drawdown since its inception was -51.49%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QVAL and QQQ.

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Drawdown Indicators

QVALQQQDifference

Max Drawdown

Largest peak-to-trough decline

-51.49%

-82.97%

+31.48%

Max Drawdown (1Y)

Largest decline over 1 year

-6.04%

-11.96%

+5.92%

Max Drawdown (3Y)

Largest decline over 3 years

-21.41%

-22.77%

+1.36%

Max Drawdown (5Y)

Largest decline over 5 years

-27.17%

-35.12%

+7.95%

Max Drawdown (10Y)

Largest decline over 10 years

-51.49%

-35.12%

-16.37%

Current Drawdown

Current decline from peak

-2.48%

-0.99%

-1.49%

Average Drawdown

Average peak-to-trough decline

-7.77%

-32.73%

+24.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

3.21%

-1.06%

Volatility

QVAL vs. QQQ - Volatility Comparison

The current volatility for Alpha Architect U.S. Quantitative Value ETF (QVAL) is 3.99%, while Invesco QQQ ETF (QQQ) has a volatility of 8.47%. This indicates that QVAL 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.

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Volatility by Period

QVALQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

8.47%

-4.48%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

14.20%

-3.99%

Volatility (1Y)

Calculated over the trailing 1-year period

14.74%

17.67%

-2.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.64%

22.64%

-1.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.80%

22.43%

+0.37%

QVAL vs. QQQ - Expense Ratio Comparison

QVAL has a 0.28% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

QVAL vs. QQQ - Dividend Comparison

QVAL's dividend yield for the trailing twelve months is around 1.16%, more than QQQ's 0.49% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.49%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
QVAL
Alpha Architect U.S. Quantitative Value ETF		1.16%1.44%1.72%1.76%2.00%1.23%1.86%1.99%1.64%1.08%1.30%0.00%

Frequently Asked Questions

QVAL and QQQ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (8.47%) compared to QVAL (3.99%). In terms of maximum drawdown, QVAL dropped -51.49% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 22.48% vs 11.91% for QVAL. On fees, QQQ is cheaper at 0.18% per year. On volatility, QVAL has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 22.48% return vs 11.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.28% for QVAL.

QVAL has the higher dividend yield at 1.16%, compared with 0.49% for QQQ.

QVAL is categorized as Mid Cap Value Equities, while QQQ is Nasdaq-100. They also come from different issuers: Alpha Architect and Invesco. Their fees differ too: 0.28% for QVAL and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.33 vs 1.99), 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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