QVAL vs SPY
Comparison between ALPHA ARCHITECT U.S. QUANTITATIVE VALUE ETF (QVAL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed QVAL, delivering a return of +13.8% compared to +12.7%
QVAL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
QVAL
$530M
Winner
SPY
$784B
Expense Ratio
QVAL
0.28%
Winner
SPY
0.09%
Max Drawdown
Winner
QVAL
53.34%
SPY
56.47%
Sharpe Ratio
Winner
QVAL
1.70
SPY
1.56
5Y Beta
Winner
QVAL
0.83
SPY
1.00
P/E Ratio
Winner
QVAL
12.42
SPY
28.29
Forward P/E
Winner
QVAL
10.92
SPY
21.75
PEG Ratio
QVAL
0.25
SPY
N/A
5Y Dividends CAGR
Winner
QVAL
8.34%
SPY
5.43%
5Y EPS CAGR
QVAL
19.23%
Winner
SPY
25.98%
Debt to Equity
Winner
QVAL
-217.81%
SPY
30.79%
P/S Ratio
Winner
QVAL
0.98
SPY
3.79
P/B Ratio
Winner
QVAL
2.26
SPY
5.67
QVAL vs SPY - Holdings Comparison
QVAL and SPY have 35 common holdings. Overlap is 2.86%
QVAL's top 25 holdings weight is 51.66%. SPY's top 25 holdings weight is 52.46%.
| Rank | QVAL | SPY |
|---|---|---|
| #1 | TAYLOR MORRISON HOME CORP (TMHC) - 2.45% | NVIDIA CORP (NVDA) - 8.30% |
| #2 | TD SYNNEX CORP (SNX) - 2.27% | APPLE INC (AAPL) - 7.09% |
| #3 | HP INC (HPQ) - 2.21% | MICROSOFT CORP (MSFT) - 5.02% |
| #4 | HF SINCLAIR CORP (DINO) - 2.16% | AMAZON.COM INC (AMZN) - 3.84% |
| #5 | VALERO ENERGY CORP (VLO) - 2.14% | BROADCOM INC (AVGO) - 3.50% |
| #6 | MARATHON PETROLEUM CORP (MPC) - 2.10% | ALPHABET INC CLASS A (GOOGL) - 3.23% |
| #7 | APA CORP (APA) - 2.08% | ALPHABET INC CLASS C (GOOG) - 2.57% |
| #8 | MUELLER INDUSTRIES INC (MLI) - 2.07% | META PLATFORMS INC CLASS A (META) - 2.00% |
| #9 | UNITED PARCEL SERVICE INC CLASS B (UPS) - 2.06% | MICRON TECHNOLOGY INC (MU) - 1.84% |
| #10 | CONOCOPHILLIPS (COP) - 2.05% | TESLA INC (TSLA) - 1.83% |
| #11 | FIRST SOLAR INC (FSLR) - 2.04% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.32% |
| #12 | NEWMONT CORP (NEM) - 2.03% | ADVANCED MICRO DEVICES INC (AMD) - 1.30% |
| #13 | D.R. HORTON INC (DHI) - 2.03% | ELI LILLY AND CO (LLY) - 1.29% |
| #14 | EDISON INTERNATIONAL (EIX) - 2.02% | JPMORGAN CHASE & CO (JPM) - 1.24% |
| #15 | PULTEGROUP INC (PHM) - 2.02% | EXXON MOBIL CORP (XOM) - 0.96% |
| #16 | LAS VEGAS SANDS CORP (LVS) - 2.01% | JOHNSON & JOHNSON (JNJ) - 0.82% |
| #17 | RANGE RESOURCES CORP (RRC) - 2.00% | VISA INC CLASS A (V) - 0.82% |
| #18 | SNAP-ON INC (SNA) - 2.00% | INTEL CORP (INTC) - 0.78% |
| #19 | VERIZON COMMUNICATIONS INC (VZ) - 2.00% | CISCO SYSTEMS INC (CSCO) - 0.77% |
| #20 | COMCAST CORP CLASS A (CMCSA) - 2.00% | WALMART INC (WMT) - 0.76% |
| #21 | BRINKER INTERNATIONAL INC (EAT) - 1.99% | COSTCO WHOLESALE CORP (COST) - 0.65% |
| #22 | ADT INC (ADT) - 1.99% | CATERPILLAR INC (CAT) - 0.65% |
| #23 | AT&T INC (T) - 1.99% | ORACLE CORP (ORCL) - 0.64% |
| #24 | EQT CORP (EQT) - 1.98% | LAM RESEARCH CORP (LRCX) - 0.64% |
| #25 | CARNIVAL CORPORATION LTD (CCL) - 1.97% | APPLIED MATERIALS INC (AMAT) - 0.60% |
| Total Holdings | 53 | 505 |
QVAL vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
QVAL
+7.10%
SPY
+2.12%
3M
QVAL
+11.17%
Winner
SPY
+13.14%
6M
Winner
QVAL
+14.56%
SPY
+11.52%
1Y
Winner
QVAL
+30.53%
SPY
+26.68%
5Y(CAGR)
QVAL
+12.74%
Winner
SPY
+13.75%
10Y(CAGR)
QVAL
+12.02%
Winner
SPY
+15.65%
Max(CAGR)
Winner
QVAL
+11.17%
SPY
+8.56%
QVAL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | QVAL | SPY |
|---|---|---|
| 2026 | +15.14% | +10.80% |
| 2025 | +11.27% | +18.00% |
| 2024 | +12.04% | +25.59% |
| 2023 | +31.82% | +26.72% |
| 2022 | -11.30% | -18.64% |
| 2021 | +34.69% | +30.52% |
| 2020 | -6.12% | +17.28% |
| 2019 | +22.17% | +31.09% |
| 2018 | -18.51% | -5.24% |
| 2017 | +24.51% | +20.78% |
| 2016 | +13.13% | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
QVAL vs SPY Drawdown Comparison
The maximum drawdown for QVAL was -51.47%, occurring on Mar 23, 2020. Recovery took 786 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current QVAL drawdown is -0.67%. The current SPY drawdown is -0.62%.
| Rank | QVAL | SPY |
|---|---|---|
| #1 | -51.47% Jan 26, 2018 - Mar 12, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -27.14% Nov 16, 2021 - Sep 1, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -21.41% Dec 2, 2024 - Oct 1, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -13.23% Mar 21, 2016 - Aug 15, 2016 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -12.04% Jan 4, 2016 - Mar 2, 2016 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -8.14% Sep 14, 2023 - Dec 1, 2023 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -7.57% May 7, 2021 - Aug 11, 2021 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -7.52% Jul 31, 2024 - Sep 19, 2024 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -7.21% Aug 23, 2016 - Nov 11, 2016 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -6.04% Feb 11, 2026 - Apr 9, 2026 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -5.99% Sep 2, 2021 - Oct 22, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.73% May 31, 2024 - Jul 16, 2024 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -5.50% Mar 28, 2024 - May 31, 2024 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -5.06% Oct 3, 2025 - Nov 12, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -5.00% Apr 27, 2017 - Aug 7, 2017 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between QVAL and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
QVAL vs SPY dividend yield comparison.
| Year | QVAL | SPY |
|---|---|---|
| 2026 | 0.37% | 0.24% |
| 2025 | 1.44% | 1.07% |
| 2024 | 1.72% | 1.21% |
| 2023 | 1.76% | 1.40% |
| 2022 | 2.00% | 1.65% |
| 2021 | 1.23% | 1.20% |
| 2020 | 1.86% | 1.52% |
| 2019 | 1.99% | 1.75% |
| 2018 | 1.64% | 2.04% |
| 2017 | 1.08% | 1.80% |
| 2016 | 1.30% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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