QVAL vs. VBR

Last updated Jun 23, 2026

QVAL (Alpha Architect U.S. Quantitative Value ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - QVAL is a Mid Cap Value Equities fund actively managed by Alpha Architect, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. QVAL is actively managed, while VBR is passively managed. Over the past 10 years, QVAL returned 11.91%/yr vs 11.02%/yr for VBR. Their correlation of 0.87 suggests significant overlap in exposure. QVAL charges 0.28%/yr vs 0.05%/yr for VBR.

Performance

QVAL vs. VBR - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QVAL having a 14.07% return and VBR slightly lower at 13.42%. Over the past 10 years, QVAL has outperformed VBR with an annualized return of 11.91%, while VBR has yielded a comparatively lower 11.02% 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%

VBR

• 1D: 0.18%
• 1M: 2.65%
• YTD: 13.42%
• 6M: 11.41%
• 1Y: 27.72%
• 3Y*: 16.95%
• 5Y*: 8.85%
• 10Y*: 11.02%

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

QVAL vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VBR Vanguard Small-Cap Value ETF	13.42%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between QVAL and VBR is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.87

The correlation between QVAL and VBR has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

QVAL vs. VBR - Sectors Allocation Comparison

Sectors	QVAL	VBR
Consumer Cyclical	23.8%	12.5%
Energy	16.1%	4.3%
Industrials	14.1%	17.4%
Healthcare	13.9%	8.3%
Consumer Defensive	9.8%	4.0%
Technology	8.3%	12.1%
Communication Services	6.0%	2.8%
Basic Materials	6.0%	6.0%
Utilities	2.0%	4.6%
Real Estate	2.0%	10.5%
Financial Services	-	17.5%

Return for Risk

QVAL vs. VBR — Risk / Return Rank

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

QVAL

QVAL Risk / Return Rank: 70
QVAL Sharpe Ratio Rank: 62
QVAL Sortino Ratio Rank: 71
QVAL Omega Ratio Rank: 56
QVAL Calmar Ratio Rank: 88
QVAL Martin Ratio Rank: 74

VBR

VBR Risk / Return Rank: 59
VBR Sharpe Ratio Rank: 56
VBR Sortino Ratio Rank: 58
VBR Omega Ratio Rank: 52
VBR Calmar Ratio Rank: 65
VBR Martin Ratio Rank: 63

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. VBR - Risk-Adjusted Trends Comparison

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

	QVAL	VBR	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.82	+0.17
Sortino ratio: Return per unit of downside risk	3.07	2.67	+0.40
Omega ratio: Gain probability vs. loss probability	1.34	1.31	+0.02
Calmar ratio: Return relative to maximum drawdown	4.86	3.14	+1.72
Martin ratio: Return relative to average drawdown	13.62	11.11	+2.51

QVAL vs. VBR - Sharpe Ratio Comparison

The current QVAL Sharpe Ratio is 1.99, which is comparable to the VBR Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of QVAL and VBR, 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

QVAL vs. VBR - Drawdown Comparison

The maximum QVAL drawdown since its inception was -51.49%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for QVAL and VBR.

Drawdown Indicators

	QVAL	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-51.49%	-61.98%	+10.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-8.85%	+2.81%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	-24.19%	+2.78%
Max Drawdown (5Y) Largest decline over 5 years	-27.17%	-24.19%	-2.98%
Max Drawdown (10Y) Largest decline over 10 years	-51.49%	-45.28%	-6.21%
Current Drawdown Current decline from peak	-2.48%	-1.03%	-1.45%
Average Drawdown Average peak-to-trough decline	-7.77%	-8.25%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.50%	-0.35%

Volatility

QVAL vs. VBR - Volatility Comparison

Alpha Architect U.S. Quantitative Value ETF (QVAL) and Vanguard Small-Cap Value ETF (VBR) have volatilities of 3.99% and 3.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QVAL	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	3.97%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	10.66%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	15.33%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.64%	19.73%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	21.75%	+1.05%

QVAL vs. VBR - Expense Ratio Comparison

QVAL has a 0.28% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

QVAL vs. VBR - Dividend Comparison

QVAL's dividend yield for the trailing twelve months is around 1.16%, less than VBR's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VBR Vanguard Small-Cap Value ETF	1.73%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both QVAL and VBR in my portfolio?

QVAL and VBR have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QVAL or VBR?

QVAL has higher volatility (3.99%) compared to VBR (3.97%). In terms of maximum drawdown, QVAL dropped -51.49% vs VBR's -61.98%.

Which ETF is better, QVAL or VBR?

On 10-year performance, QVAL leads with 11.91% vs 11.02% for VBR. On fees, VBR is cheaper at 0.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVAL or VBR?

Over the 10-year period, QVAL has performed better with a 11.91% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVAL or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 0.28% for QVAL.

Which ETF pays a higher dividend yield, QVAL or VBR?

VBR has the higher dividend yield at 1.73%, compared with 1.16% for QVAL.

What is the main difference between QVAL and VBR?

QVAL is categorized as Mid Cap Value Equities, while VBR is Small Cap Value Equities. They also come from different issuers: Alpha Architect and Vanguard. Their fees differ too: 0.28% for QVAL and 0.05% for VBR.

Which has better risk-adjusted returns?

QVAL currently has the higher Sharpe Ratio (1.99 vs 1.82), 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.