Which returned more over the last year, FVAL or QUAL?

In the year to Oct 9, 2026, with distributions reinvested, FVAL returned +20.9% and QUAL +17.1%.

Which is cheaper, FVAL or QUAL?

Neither: FVAL and QUAL both charge 0.15% a year. Fees come from each fund's prospectus.

How much do FVAL and QUAL overlap with the S&P 500?

By their latest filed holdings, 92% of FVAL and 97% of QUAL by weight is stocks the S&P 500 already holds.

Compare their flows Ask IQ about these two funds

FVAL vs QUAL: Differences, Returns & Fees

FVAL and QUAL hold 31% of their weight in the same names, and FVAL returned +20.9% over the year. Net assets: $1.4bn on Sep 30, 2026 for Fidelity Value Factor ETF, and $49.0bn on Oct 9, 2026 for iShares MSCI USA Quality Factor ETF.

Both cost 0.15% a year; their one-year returns differ by 3.8 points; QUAL is far larger, $47.7bn against $1.4bn.

FVAL vs QUAL: Differences, Returns & Fees
	FVAL	QUAL
Expense ratio	0.15%	0.15%
Net assets, as of Sep 30, 2026	$1.4bn	$47.7bn
Total return, 1 year	+20.9%	+17.1%
What it tracks	Fidelity U.S. Value Factor Index	MSCI USA Sector Neutral Quality Index ?
Holdings in common	31%
Top ten holdings, share of the fund	42.3%	45.7%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 9, 2026.

+20.9%

FVAL total return, 1 year

+17.1%

QUAL total return, 1 year

0.15%

FVAL expense ratio

0.15%

QUAL expense ratio

What they hold in common

By the books each fund has filed, FVAL and QUAL hold 31% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Oct 9, 2026.

50%

half

31% in common

Positions both hold, largest shared weight first

Holding FVAL QUAL

APPLE INC 7.24% 7.03%

NVIDIA CORP 7.71% 6.49%

MICROSOFT CORP 5.65% 8.01%

ALPHABET INC 5.63% 1.97%

META PLATFORMS INC 1.96% 4.62%

VISA INC 1.45% 3.24%

EXXONMOBIL HOLDINGS CORP 1.11% 2.31%

WALMART INC 0.95% 0.96%

ADOBE INC 0.70% 0.92%

GILEAD SCIENCES INC 0.62% 0.69%

AUTOMATIC DATA PROCESSING INC 0.59% 1.16%

ACCENTURE PLC 0.57% 0.84%

Only in FVAL

AMAZON.COM INC 4.39%

BROADCOM INC 3.42%

MICRON TECHNOLOGY INC 2.67%

BERKSHIRE HATHAWAY INC DEL 1.86%

ELI LILLY and CO 1.76%

JOHNSON and JOHNSON 1.36%

UNITEDHEALTH GROUP INC 1.19%

BANK OF AMERICA CORPORATION 1.17%

Only in QUAL

LAM RESEARCH 3.69%

ELI LILLY 3.65%

TJX 3.41%

APPLIED MATERIAL INC 3.01%

KLA 2.57%

MASTERCARD CLASS A 2.28%

JOHNSON & JOHNSON 2.04%

BERKSHIRE HATHAWAY INC CLASS B 1.81%

Check overlap with more funds →

On the same fields

FVAL

Fidelity Value Factor ETF

QUAL

iShares MSCI USA Quality Factor ETF

Where it sits Stock ETF Stock ETF

Issuer Fidelity iShares

What it is Tracks an index Tracks the MSCI USA Quality Factor

Total return, 1 year +20.9% +17.1%

Expense ratio 0.15% 0.15%

Already in the S&P 500 91.8% 97.2%

Holdings 124 119

Net assets, FVAL as of Sep 30, 2026 and QUAL as of Oct 9, 2026 $1.4bn $49.0bn

FVAL and QUAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About FVAL

FVAL tracks an index. Over the year to Oct 9, 2026 it returned +20.9% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 124 positions, with the top ten at 42.3%.

About QUAL

QUAL tracks the MSCI USA Quality Factor. Over the year to Oct 9, 2026 it returned +17.1% with distributions reinvested. By its holdings published by its issuer for Oct 9, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 119 positions, with the top ten at 45.7%.

Questions people ask

Which returned more over the last year, FVAL or QUAL?: In the year to Oct 9, 2026, with distributions reinvested, FVAL returned +20.9% and QUAL +17.1%.
Which is cheaper, FVAL or QUAL?: Neither: FVAL and QUAL both charge 0.15% a year. Fees come from each fund's prospectus.
How much do FVAL and QUAL overlap with the S&P 500?: By their latest filed holdings, 92% of FVAL and 97% of QUAL by weight is stocks the S&P 500 already holds.

Other comparisons

FVAL vs IWB FVAL vs VV FVAL vs SCHB CGDV vs FVAL QLC vs QUAL QUAL vs SPHB KLMN vs QUAL QUAL vs SPUS

FVAL on its own →QUAL on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

FVAL filings on SEC EDGAR ↗FVAL prospectus with the expense ratio (SEC) ↗Fidelity website ↗QUAL filings on SEC EDGAR ↗QUAL prospectus with the expense ratio (SEC) ↗iShares page for QUAL ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FVAL against QUAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/fval-vs-qual

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.