Data as of Oct 28, 2026.
IWD vs QUAL: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWD returned +27.5% to QUAL's +13.1%; 33% of their weight is in the same names.
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Net assets: $83.0bn on Oct 27, 2026 for iShares Russell 1000 Value ETF, and $48.2bn on Oct 28, 2026 for iShares MSCI USA Quality Factor ETF.
Pair scorecard
QUAL costs 0.03 points a year less; their one-year returns differ by 14.4 points; IWD is 1.8 times larger.
| Measure | IWD | QUAL |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.5% | +13.1% |
| Benchmark | ||
| What it tracks | Russell 1000 Value Index | MSCI USA Sector Neutral Quality Index |
| Cost and size | ||
| Expense ratio | 0.18% | 0.15% |
| Net assets, as of Oct 26, 2026 | $84.8bn | $48.3bn |
| Holdings | ||
| Holdings in common | 33% | |
| Top ten holdings, share of the fund | 29.6% | 44.5% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jul 26, 2013 to Oct 23, 2026 · 691 weekly returnsEach against its own benchmark: IWD against VONV, Oct 1, 2010 to Oct 23, 2026; QUAL against MLRG, Jul 26, 2013 to Oct 23, 2026.
QUAL returned more: +444.7% to +288.9%. IWD and QUAL swung about the same: 16.0% and 16.2%. QUAL fell less at its worst: −31.4% to −35.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWD | QUAL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +288.9% | +444.7% | QUAL | Price change plus distributions, reinvested. |
| Annualized | +10.8% | +13.6% | QUAL | Total return as a yearly rate. |
| Price return | +192.4% | +346.8% | QUAL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.0% | 16.2% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.4% | 11.2% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.6% | −31.4% | QUAL | Deepest fall from a high to the low after it. |
| Upside capture | 100.0% | 98.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.2% | 98.8% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 0.97 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.95 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.60 | 0.75 | QUAL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.84 | 1.09 | QUAL | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.110 | 0.126 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.30 | 0.43 | QUAL | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VONV | MLRG | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | +0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.23 | 0.59 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.6% to +0.5% | −1.4% to +2.6% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.08 | 0.06 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.1% | 3.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 691 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWD and QUAL hold 33% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
33% in common
Only in one fund ↓
Side by side
IWD and QUAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWD and QUAL do different jobs. What does each one do in a portfolio?
- What each follows. IWD follows Russell 1000 Value Index and QUAL follows MSCI USA Sector Neutral Quality Index.
- Holdings in common. 33% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWD returned +27.5% and QUAL +13.1% with distributions reinvested, a gap of 14.4 points.
Data as of Oct 28, 2026.
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IWD
IWD tracks the Russell 1000 value. Over the year to Oct 28, 2026 it returned +27.5% with distributions reinvested, against +27.7% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 29.6%.
QUAL
QUAL tracks the MSCI USA Quality Factor. Over the year to Oct 28, 2026 it returned +13.1% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 119 positions, with the top ten at 44.5%.
Questions people ask
- Which returned more over the last year, IWD or QUAL?
- In the year to Oct 28, 2026, with distributions reinvested, IWD returned +27.5% and QUAL +13.1%.
- Which is cheaper, IWD or QUAL?
- QUAL is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. 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.
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ETFIQ, IWD against QUAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwd-vs-qual
ETFIQ. (Oct 28, 2026). IWD against QUAL. Retrieved from https://etfiq.com/compare/any/iwd-vs-qual
[IWD against QUAL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwd-vs-qual)
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