LCAP vs QUAL: Differences, Returns & Fees
LCAP and QUAL hold 34% of their weight in the same names, and LCAP returned +17.7% over the year. Net assets: $1.9bn on Oct 8, 2026 for Principal Capital Appreciation Select ETF, and $49.0bn on Oct 9, 2026 for iShares MSCI USA Quality Factor ETF.
QUAL costs 0.14 points a year less; their one-year returns differ by 0.6 points; QUAL is far larger, $48.8bn against $1.9bn.
| LCAP | QUAL | |
|---|---|---|
| Expense ratio | 0.29% | 0.15% |
| Net assets, as of Oct 8, 2026 | $1.9bn | $48.8bn |
| Total return, 1 year | +17.7% | +17.1% |
| What it tracks | No index, actively managed | MSCI USA Sector Neutral Quality Index ? |
| Holdings in common | 34% | |
| Top ten holdings, share of the fund | 42.0% | 45.7% |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.
What they hold in common
By the books each fund has filed, LCAP and QUAL hold 34% 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 Jun 30, 2026 and Oct 9, 2026.
half
34% in common
On the same fields
LCAP and QUAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About LCAP
LCAP is actively managed and tracks no index. The prospectus expense ratio is 0.29% a year. By its holdings filed for Jun 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 54 positions, with the top ten at 42.0%.
Over the year to Oct 9, 2026 it returned +17.7% with distributions reinvested, against +16.6% for its benchmark, the Russell 1000 Index.
About QUAL
QUAL tracks the MSCI USA Quality Factor. Over the year to Oct 9, 2026 it returned +17.1% with distributions reinvested. The prospectus expense ratio is 0.15% a year. 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, LCAP or QUAL?
- In the year to Oct 9, 2026, with distributions reinvested, LCAP returned +17.7% and QUAL +17.1%.
- Which is cheaper, LCAP or QUAL?
- QUAL is cheaper, by 0.14 percentage points a year. That is about $14 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, LCAP against QUAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/lcap-vs-qual
ETFIQ. (Oct 9, 2026). LCAP against QUAL. Retrieved from https://etfiq.com/compare/any/lcap-vs-qual
[LCAP against QUAL (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/any/lcap-vs-qual)
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