# QVAL alternatives: 8 similar ETFs compared

> ETFs similar to QVAL, closest first, with each fund's fee, what it tracks, and returns and worst drops on the same dates as QVAL. Updated daily.

The ETFs most like QVAL are VBR, IJS and IWD. None of them holds exactly what QVAL holds, so each is a looser match.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- 8 funds can stand in for QVAL: 8 related funds.
- QVAL charges 0.28% a year (about $28 on $10,000). The cheapest alternative here, VTV, charges 0.03%.
- VBR moved most like QVAL: a daily correlation of 0.90 over about the last five years.
- Returns and drops for each pair use the same dates for both funds.

## QVAL alternatives at a glance

Each fund below can stand in for QVAL, closest first. "Related" funds make a different bet that often moves the same way.

| ETF | How close | Yearly fee | Fee on $10,000 | Tracks |
| --- | --- | --- | --- | --- |
| **QVAL** | This fund | 0.28% | $28 | No index |
| [VBR](https://tactfolio.com/etf/VBR.md) | Related fund | 0.05% | $5 | Morningstar US Small Cap Value Index |
| [IJS](https://tactfolio.com/etf/IJS.md) | Related fund | 0.18% | $18 | S&P SmallCap 600 Value Index |
| [IWD](https://tactfolio.com/etf/IWD.md) | Related fund | 0.18% | $18 | Russell 1000 Value Index |
| [IWN](https://tactfolio.com/etf/IWN.md) | Related fund | 0.24% | $24 | Russell 2000 Value Index |
| [SCHV](https://tactfolio.com/etf/SCHV.md) | Related fund | 0.04% | $4 | Dow Jones U.S. Large-Cap Value Total Stock Market Index |
| [VTV](https://tactfolio.com/etf/VTV.md) | Related fund | 0.03% | $3 | Morningstar US Large Cap Value Index |
| [IVE](https://tactfolio.com/etf/IVE.md) | Related fund | 0.18% | $18 | S&P 500 Value Index |
| [SPYV](https://tactfolio.com/etf/SPYV.md) | Related fund | 0.04% | $4 | S&P 500 Value Index |

Fees come from each fund company, checked on the dates shown on each fund's page.

## How QVAL and its alternatives did over the same dates

Each row measures the alternative and QVAL on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

| ETF | Moves with QVAL | Per year | QVAL per year | Worst drop | QVAL worst drop | Since |
| --- | --- | --- | --- | --- | --- | --- |
| [VBR](https://tactfolio.com/etf/VBR.md) | 0.90 | 9.8% | 9.7% | −45.3% | −51.5% | October 2014 |
| [IJS](https://tactfolio.com/etf/IJS.md) | 0.86 | 9.2% | 9.7% | −47.7% | −51.5% | October 2014 |
| [IWD](https://tactfolio.com/etf/IWD.md) | 0.85 | 10.7% | 9.7% | −38.5% | −51.5% | October 2014 |
| [IWN](https://tactfolio.com/etf/IWN.md) | 0.85 | 8.9% | 9.7% | −46.1% | −51.5% | October 2014 |
| [SCHV](https://tactfolio.com/etf/SCHV.md) | 0.84 | 10.6% | 9.7% | −37.1% | −51.5% | October 2014 |
| [VTV](https://tactfolio.com/etf/VTV.md) | 0.83 | 11.8% | 9.7% | −36.8% | −51.5% | October 2014 |
| [IVE](https://tactfolio.com/etf/IVE.md) | 0.83 | 10.9% | 9.7% | −37.0% | −51.5% | October 2014 |
| [SPYV](https://tactfolio.com/etf/SPYV.md) | 0.82 | 11.0% | 9.7% | −36.9% | −51.5% | October 2014 |

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## Each QVAL alternative, compared

### VBR: Vanguard Morningstar Small-Cap Value ETF

VBR is a looser match. It holds small US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.05% a year, about $5 on $10,000, against $28 for QVAL. It held 820 stocks, against 50 for QVAL.

From October 2014 to October 2026, VBR returned about 9.8% a year and QVAL returned about 9.7% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the [VBR fund page](https://tactfolio.com/etf/VBR.md) for its returns by year and worst drop.

### IJS: iShares S&P Small-Cap 600 Value ETF

IJS is a looser match. It holds small US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.18% a year, about $18 on $10,000, against $28 for QVAL. It held 480 stocks, against 50 for QVAL.

From October 2014 to October 2026, IJS returned about 9.2% a year and QVAL returned about 9.7% a year. Over about the last five years they moved together on most days (correlation 0.86).

Read the [IJS fund page](https://tactfolio.com/etf/IJS.md) for its returns by year and worst drop.

### IWD: iShares Russell 1000 Value ETF

IWD is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.18% a year, about $18 on $10,000, against $28 for QVAL. It held 870 stocks, against 50 for QVAL.

From October 2014 to October 2026, IWD returned about 10.7% a year and QVAL returned about 9.7% a year. Over about the last five years they moved together on most days (correlation 0.85).

Read the [IWD fund page](https://tactfolio.com/etf/IWD.md) for its returns by year and worst drop.

### IWN: iShares Russell 2000 Value ETF

IWN is a looser match. It holds small US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.24% a year, about $24 on $10,000, against $28 for QVAL. It held 1,410 stocks, against 50 for QVAL.

From October 2014 to October 2026, IWN returned about 8.9% a year and QVAL returned about 9.7% a year. Over about the last five years they moved together on most days (correlation 0.85).

Read the [IWN fund page](https://tactfolio.com/etf/IWN.md) for its returns by year and worst drop.

### SCHV: Schwab U.S. Large-Cap Value ETF

SCHV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.04% a year, about $4 on $10,000, against $28 for QVAL. It held 555 stocks, against 50 for QVAL.

From October 2014 to October 2026, SCHV returned about 10.6% a year and QVAL returned about 9.7% a year. Over about the last five years they often moved together, but not always (correlation 0.84).

Read the [SCHV fund page](https://tactfolio.com/etf/SCHV.md) for its returns by year and worst drop.

### VTV: Vanguard Morningstar Value ETF

VTV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.03% a year, about $3 on $10,000, against $28 for QVAL. It held 298 stocks, against 50 for QVAL.

From October 2014 to October 2026, VTV returned about 11.8% a year and QVAL returned about 9.7% a year. Over about the last five years they often moved together, but not always (correlation 0.83).

Read the [VTV fund page](https://tactfolio.com/etf/VTV.md) for its returns by year and worst drop.

### IVE: iShares S&P 500 Value ETF

IVE is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.18% a year, about $18 on $10,000, against $28 for QVAL. It held 436 stocks, against 50 for QVAL.

From October 2014 to October 2026, IVE returned about 10.9% a year and QVAL returned about 9.7% a year. Over about the last five years they often moved together, but not always (correlation 0.83).

Read the [IVE fund page](https://tactfolio.com/etf/IVE.md) for its returns by year and worst drop.

### SPYV: State Street SPDR Portfolio S&P 500 Value ETF

SPYV is a looser match. It holds large US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap.

It charges 0.04% a year, about $4 on $10,000, against $28 for QVAL. It held 435 stocks, against 50 for QVAL.

From October 2014 to October 2026, SPYV returned about 11.0% a year and QVAL returned about 9.7% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the [SPYV fund page](https://tactfolio.com/etf/SPYV.md) for its returns by year and worst drop.

## QVAL versions from other fund companies

Some people keep all their funds with one company. Here is the closest fund to QVAL from each other company on this page:

- **Vanguard:** [VBR](https://tactfolio.com/etf/VBR.md), Vanguard Morningstar Small-Cap Value ETF (related fund, 0.05% a year)
- **iShares (BlackRock):** [IJS](https://tactfolio.com/etf/IJS.md), iShares S&P Small-Cap 600 Value ETF (related fund, 0.18% a year)
- **Schwab:** [SCHV](https://tactfolio.com/etf/SCHV.md), Schwab U.S. Large-Cap Value ETF (related fund, 0.04% a year)
- **SPDR (State Street):** [SPYV](https://tactfolio.com/etf/SPYV.md), State Street SPDR Portfolio S&P 500 Value ETF (related fund, 0.04% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company's index mutual fund, are not listed here.

## How to choose between QVAL and its alternatives

- **What it tracks.** A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
- **The fee.** The difference is often small. On $10,000, QVAL costs about $28 a year. VTV costs about $3.
- **History.** An older fund has been through more bad markets, so you can see how far it fell.
- **What you already own.** Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

## Swapping QVAL to harvest a tax loss

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a "substantially identical" security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as VBR, IJS or IWD, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in [Publication 550](https://www.irs.gov/publications/p550).

## Test QVAL and its alternatives in a backtest

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add QVAL and VBR, and see how each would have done on the same dates, or how a mix of both would have done.

## The details

Alternatives are picked from facts, not from returns. First come funds that track the same index as QVAL. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like QVAL over about the last five years come first. Returns and worst drops use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with QVAL only on days both traded. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What ETF is most similar to QVAL?

VBR is the closest. VBR is a looser match. It holds small US companies that look cheap compared with their earnings and assets, while QVAL holds a small set of US stocks picked by rules for looking cheap. Over about the last five years they moved together on most days.

### Is there a cheaper alternative to QVAL?

Yes. VTV charges 0.03% a year, SCHV charges 0.04% a year and SPYV charges 0.04% a year, against 0.28% for QVAL. On $10,000 that is about $3 a year instead of $28.

### Is QVAL or VBR better?

Neither is better for everyone. From October 2014 to October 2026, QVAL returned about 9.7% a year and VBR returned about 9.8% a year. QVAL charges 0.28% a year and VBR charges 0.05%. Past returns do not tell you what comes next.

### What if I had put $10,000 in QVAL 10 years ago?

It would have grown to about $32,444 by October 16, 2026, with dividends reinvested. That is about 12.5% a year. Past returns do not tell you what comes next.

## Sources

- [Alpha Architect: Alpha Architect U.S. Quantitative Value ETF fund page](https://funds.alphaarchitect.com/qval/)
- [Vanguard: Vanguard Morningstar Small-Cap Value ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vbr)
- [iShares (BlackRock): iShares S&P Small-Cap 600 Value ETF fund page](https://www.ishares.com/us/products/239775/ishares-s-p-small-cap-600-value-etf)
- [iShares (BlackRock): iShares Russell 1000 Value ETF fund page](https://www.ishares.com/us/products/239708/ishares-russell-1000-value-etf)
- [iShares (BlackRock): iShares Russell 2000 Value ETF fund page](https://www.ishares.com/us/products/239712/ishares-russell-2000-value-etf)
- [Schwab: Schwab U.S. Large-Cap Value ETF fund page](https://www.sec.gov/Archives/edgar/data/1454889/000110465926020698/tm266454-4_497k.htm)
- [Vanguard: Vanguard Morningstar Value ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vtv)
- [iShares (BlackRock): iShares S&P 500 Value ETF fund page](https://www.ishares.com/us/products/239728/ishares-s-p-500-value-etf)
- [SPDR (State Street): State Street SPDR Portfolio S&P 500 Value ETF fund page](https://www.ssga.com/us/en/intermediary/etfs/state-street-spdr-portfolio-sp-500-value-etf-spyv)
- [IRS Publication 550: wash sales](https://www.irs.gov/publications/p550)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.