QVAL
Alpha Architect US Quantitative Value ETF
ValueShares US Quantitative Value ETF is an exchange-traded fund incorporated in the USA. This is an actively managed ETF and does not track an index. The ETF holds mid to large-cap US stocks and will invest in approximately 50 of the top U.S. equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a quarterly rebalance schedule.
US
EQUITY
Active
MANAGEMENT STYLE
383.8 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | Alpha Architect LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 22, 2014 |
| Assets (mns) | $384 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NEXTRACKER, INC. CLASS A | 2.2 % |
| UNITED CONTINENTAL HOLDINGS | 2.1 % |
| SCHLUMBERGER LTD | 2.1 % |
| HALOZYME THERAPEUTICS INC | 2.1 % |
| GENERAL MOTORS CO | 2.1 % |
| CF INDUSTRIES HOLDINGS INC | 2.1 % |
| WESCO INTERNATIONAL INC | 2.1 % |
| ALCOA CORP. | 2.1 % |
| EASTMAN CHEMICAL COMPANY | 2.1 % |
| SYNNEX CORP | 2.1 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 200 |
| Wgt avg mkt cap (mns) | $31,419 |
| Large cap (>$10bn) | 63.9% |
| Mid cap ($2-10bn) | 35.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.6 % |
 |
BRITAIN | 2.0 % |
 |
IRELAND | 2.0 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -1.4% | 2.7% | 12.8% | 13.8% | 14.5% | 5.2% | -- | 5.5% |
| Dividend Yield | 0.6% | 1.5% | 1.8% | 2.1% | 2.0% | 1.8% | -- | 1.7% |
| Total Returns | -0.8% | 4.1% | 14.6% | 15.9% | 16.5% | 7.0% | -- | 7.3% | Ann. Volatility | 25.2% | 21.0% | 18.5% | 21.8% | 22.2% | 23.2% | -- | 22.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 68% |
| MSCI EAFE | 0.91 | 48% |
| MSCI Emg Mkts | 0.50 | 15% |
Liquidity Measures
| Avg. volume (000) | 22 |
| ADV traded (mns) | $1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.14% |
Technical Indicators
| Recent close | $44.52 |
| 30d moving avg. | $43.92 |
| Annualized volatility | 21.7% |
| Relative strength (RSI) | 55 |
| Short interest | 0.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FLOW | Global X U.S. Cash Flow Kings 100 ETF | 25.5% | -14 bp | +11.4% |
| CALF | Pacer US Small Cap Cash Cows 100 ETF | 22.5% | +20 bp | +11.1% |
| ECML | Euclidean Fundamental Value ETF | 20.8% | +56 bp | +11.7% |
| VFLO | VictoryShares Free Cash Flow ETF | 19.6% | 0 bp | +10.6% |
| COWS | Amplify Cash Flow Dividend Leaders ETF | 18.9% | -39 bp | +12.1% |
| LYLD | Cambria Large Cap Shareholder Yield ETF | 17.9% | +20 bp | +9.6% |
| SMRI | Bushido Capital US Equity ETF | 16.0% | +32 bp | +9.6% |
| COWZ | Pacer US Cash Cows 100 ETF | 15.2% | +10 bp | +9.4% |
| SYLD | Cambria Shareholder Yield ETF | 14.0% | +20 bp | +11.8% |
| SPVM | Invesco S&P 500 Value with Momentum ETF | 13.5% | 0 bp | +8.0% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/14/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
QVAL
9.7%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 965 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.3%. QVAL's ALTAR Score™ is approximately
1.7 standard deviations
above
the category average. This places QVAL in the 96th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QVALSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (39 bp) Percentile rank | 25 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QVAL | 39.0 | 0.0 | 39 |
| Peer Avg. | 54.6 | 28.4 | 83.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .