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QUAL vs QVML: Differences, Returns & Fees

QUAL and QVML hold 45% of their weight in the same names, and QVML returned +17.8% over the year. Net assets on Oct 9, 2026: $49.0bn for iShares MSCI USA Quality Factor ETF and $1.7bn for Invesco S&P 500 QVM Multi-factor ETF.

QVML costs 0.04 points a year less; their one-year returns differ by 0.7 points; QUAL is far larger, $49.0bn against $1.7bn.

QUAL vs QVML: Differences, Returns & Fees
QUALQVML
Expense ratio0.15%0.11%
Net assets$49.0bn$1.7bn
Total return, 1 year+17.1%+17.8%
What it tracksMSCI USA Sector Neutral Quality Index ?S&P 500 Quality, Value & Momentum Top 90% Multi-Factor Index
Holdings in common45%
Holdings datedOct 9, 2026Oct 10, 2026
Top ten holdings, share of the fund45.7%42.2%

Holdings in common uses holdings dated Oct 9, 2026.

+17.1%
QUAL total return, 1 year
+17.8%
QVML total return, 1 year
0.15%
QUAL expense ratio
0.11%
QVML expense ratio

What they hold in common

By the books each fund has filed, QUAL and QVML hold 45% 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 Oct 9, 2026.

half

45% in common

Positions both hold, largest shared weight first
Holding QUAL QVML
APPLE 7.03% 8.12%
MICROSOFT 8.01% 6.74%
NVIDIA 6.49% 8.97%
ALPHABET CLASS A 1.97% 4.57%
BERKSHIRE HATHAWAY INC CLASS B 1.81% 1.59%
ELI LILLY 3.65% 1.59%
EXXONMOBIL HOLDINGS CORP 2.31% 1.14%
VISA CLASS A 3.24% 1.14%
JOHNSON & JOHNSON 2.04% 1.04%
MASTERCARD CLASS A 2.28% 0.87%
WALMART 0.96% 0.81%
COSTCO WHOLESALE CORP 1.07% 0.75%
Only in QUAL
META PLATFORMS CLASS A 4.62%
ALPHABET CLASS C 1.54%
GILEAD SCIENCES 0.69%
MOTOROLA SOLUTIONS INC 0.40%
AMERICAN WATER WORKS 0.27%
TEXAS PACIFIC LAND 0.11%
COEUR MINING 0.10%
FABRINET 0.10%
Only in QVML
Amazon.com Inc 4.43%
Broadcom Inc 2.87%
Micron Technology Inc 1.79%
Advanced Micro Devices Inc 1.48%
JPMorgan Chase & Co 1.48%
Cisco Systems Inc 0.79%
Intel Corp 0.72%
Palo Alto Networks Inc 0.65%

Check overlap with more funds →

On the same fields

QUAL
iShares MSCI USA Quality Factor ETF
QVML
Invesco S&P 500 QVM Multi-factor ETF
Where it sits Stock ETF Stock ETF
Issuer iShares Invesco
What it is Tracks the MSCI USA Quality Factor Tracks an index
Total return, 1 year +17.1% +17.8%
Expense ratio 0.15% 0.11%
Already in the S&P 500 97.2% 99.6%
Holdings 119 438
Net assets $49.0bn $1.7bn

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

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%.

About QVML

QVML tracks an index. Over the year to Oct 9, 2026 it returned +17.8% with distributions reinvested. The prospectus expense ratio is 0.11% a year. By its holdings published by its issuer for Oct 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 438 positions, with the top ten at 42.2%.

Questions people ask

Which returned more over the last year, QUAL or QVML?
In the year to Oct 9, 2026, with distributions reinvested, QUAL returned +17.1% and QVML +17.8%.
Which is cheaper, QUAL or QVML?
QVML is cheaper, by 0.04 percentage points a year. That is about $4 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do QUAL and QVML overlap with the S&P 500?
By their latest filed holdings, 97% of QUAL and 100% of QVML by weight is stocks the S&P 500 already holds.
Other comparisons
QUAL vs VTIQUAL vs SPYQUAL vs VOOBAFE vs QUALDIA vs QVMLDYNF vs QVMLCGDV vs QVMLDGRW vs QVML
QUAL on its own →QVML on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
QUAL filings on SEC EDGAR ↗QUAL prospectus with the expense ratio (SEC) ↗iShares page for QUAL ↗QVML filings on SEC EDGAR ↗QVML prospectus with the expense ratio (SEC) ↗Invesco page for QVML ↗

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

Open data

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