QVAL: Alpha Architect U.S. Quantitative Value ETF
Alpha Architect U.S. Quantitative Value ETF (QVAL) is an exchange-traded fund (ETF) run by Alpha Architect. This fund owns about 50 US stocks that a set of rules picks because they look cheap compared with their business profits. It charges 0.28% a year. From October 2014 to October 2026 it returned about 9.7% a year, and its worst drop was −51.5%.
Written by the Tactfolio research team. Fund facts checked October 16, 2026. Prices through October 16, 2026.
- Yearly fee
- 0.28%
- about $28 on $10,000
- Return per year
- 9.7%
- since October 2014
- Worst drop
- −51.5%
- since 2014
- Started trading
- Oct 2014
- Alpha Architect
Key points
- Expense ratio: 0.28% a year (about $28 on $10,000).
- Started trading on October 21, 2014.
- Worst drop since 2014: −51.5%.
- 2 Tactfolio classic strategies hold it.
What does QVAL hold?#
This fund owns about 50 US stocks that a set of rules picks because they look cheap compared with their business profits. Because it owns a small, picked group, its mix can look very different from the S&P 500 and its results can differ a lot from the overall market.
It does not track an index. Its managers choose what it holds. It had 50 holdings as of October 16, 2026, according to Alpha Architect.
| Fact | QVAL |
|---|---|
| Full name | Alpha Architect U.S. Quantitative Value ETF |
| Issuer | Alpha Architect |
| Expense ratio | 0.28% a year |
| Started trading | October 21, 2014 |
| Tracks | No index (actively managed) |
| Type | US stocks, ETF |
| Holdings | 50 holdings as of October 16, 2026 |
| Facts checked | October 16, 2026 on the Alpha Architect fund page |
What is the QVAL expense ratio?#
QVAL charges 0.28% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.28% fee comes to about $28 a year.
You never get a bill for it. The fund takes the fee out of its own value a little each day.
How has QVAL done since 2014?#
From October 2014 to October 2026, QVAL returned about 9.7% a year. Say you put in $10,000 at the start. It would have been worth about $30,446 at the end, with every dividend reinvested.
| Measure | QVAL |
|---|---|
| Total return | 204.5% |
| Return per year (CAGR) | 9.7% |
| Worst drop from a high | −51.5% |
| Volatility (how much it swings) | 21.9% |
| Last 12 months | 38.3% |
| Last 3 years, per year | 21.5% |
| Last 5 years, per year | 13.8% |
| Last 10 years, per year | 12.5% |
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.
QVAL returns by year#
| Year | QVAL return |
|---|---|
| 2026 (part of the year) | 29.2% |
| 2025 | 11.0% |
| 2024 | 12.2% |
| 2023 | 28.4% |
| 2022 | −11.8% |
| 2021 | 34.4% |
| 2020 | −5.9% |
| 2019 | 24.1% |
| 2018 | −17.3% |
| 2017 | 25.6% |
| 2016 | 12.6% |
| 2015 | −13.5% |
| 2014 (part of the year) | 5.3% |
What was QVAL’s worst drop?#
A drawdown is how far a fund falls from its last high point. QVAL’s worst fall was −51.5%, from January 26, 2018 to March 23, 2020. It got back to that high on March 12, 2021.
The chart shows how far below its last high the fund was on each day. Big drops are normal for some funds. They matter because selling during a drop locks in the loss.
Which Tactfolio strategies hold QVAL?#
2 classic strategies hold QVAL at least some of the time. Each is a set of written rules you can open, test and copy.
- Robust Asset Allocation Balanced (Alpha Architect RAA), by Wesley Gray (Alpha Architect), 2014
- Robust Asset Allocation Aggressive (Alpha Architect RAA), by Wesley Gray (Alpha Architect), 2014
How does QVAL compare with similar ETFs?#
Funds that can stand in for QVAL:
- VTV: Vanguard Morningstar Value ETF, 0.03% a year
- SCHV: Schwab U.S. Large-Cap Value ETF, 0.04% a year
- SPYV: State Street SPDR Portfolio S&P 500 Value ETF, 0.04% a year
- IVE: iShares S&P 500 Value ETF, 0.18% a year
See all 8 QVAL alternatives, compared on the same dates as QVAL.
Test QVAL in your own rules#
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, add QVAL, and see how a rule such as “hold it only above its 200-day average” would have done. Strategies run on daily prices and hold US stocks and ETFs only.
The details#
Prices come from Tactfolio’s stored daily prices for QVAL. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns.
Fund facts come from Alpha Architect. We checked them on October 16, 2026. Read what a backtest simulates and how to read drawdown and CAGR for more on these measures.
Common questions#
What is the expense ratio of QVAL?#
QVAL charges 0.28% a year, according to Alpha Architect as of October 16, 2026. That is about $28 a year for every $10,000 you hold.
When did QVAL start trading?#
QVAL started trading on October 21, 2014. It is run by Alpha Architect.
What does QVAL track?#
QVAL does not track an index. Its managers choose what it holds.
How much has QVAL returned per year?#
From October 2014 to October 2026, QVAL returned about 9.7% a year with dividends reinvested. Its worst drop was −51.5%. Past returns do not tell you what it will do next.
Which strategies use QVAL?#
2 of Tactfolio’s classic strategies hold QVAL, including Robust Asset Allocation Balanced (Alpha Architect RAA), Robust Asset Allocation Aggressive (Alpha Architect RAA).