Alpha Architect International Quantitative… (IVAL) Performance
IVAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +18.9% since Dec 31, 2025
- 1 year
- +23.1% total return
- 5 years
- +11.2% a year
- 10 years
- +7.6% a year
- Since first price
- +6.6% a year since 2014
IVAL trailing returns vs SPY, QQQ, AGG
| Period | IVAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.6% | −0.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +5.4% | +4.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.8% | +5.9% | +7.8% | +8.4% | −1.5% |
| YTD | +18.9% | +16.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +23.1% | +19.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +81.3%+21.9%/yr | +64.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +70.3%+11.2%/yr | +33.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +107.6%+7.6%/yr | +44.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionDec 17, 2014 | +114.1%+6.6%/yr | +45.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IVAL vs SPY
From Dec 17, 2014: IVAL grew to $21,415, SPY to $45,960.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IVAL returns by calendar year
5 of 11 full years positive. Best 2025 (+34.9%), worst 2018 (−22.5%). 2026 is year to date.
IVAL annual returns table
| Year | IVAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +18.9% | −11.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.9% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | −0.7% | −14.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.7% | −9.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.1% | −27.1% | −18.2% | −32.6% | −13.0% |
| 2021 | −0.2% | −15.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −4.9% | −40.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +21.3% | −16.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −22.5% | −29.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +31.0% | −4.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +9.5% | −13.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −3.6% | −19.6% | +1.2% | +9.4% | +0.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IVAL largest drawdowns
Now 1.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 24, 2018 | −46.1% | Mar 23, 2020 | Mar 19, 2025 | 2.2 years | 7.1 years |
| May 18, 2015 | −25.8% | Feb 11, 2016 | Feb 16, 2017 | 9 months | 1.8 years |
| Mar 19, 2025 | −13.1% | Apr 8, 2025 | Apr 28, 2025 | 20 days | 40 days |
| Feb 27, 2026 | −11.2% | Mar 20, 2026 | Jul 29, 2026 | 21 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IVAL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +19.1% | +11.2% | +7.6% | +6.5% |
| Volatility (annualized) | 13.6% | 17.3% | 17.5% | 17.3% |
| Sharpe ratio | 1.04 | 0.50 | 0.38 | 0.34 |
| Sortino ratio | 1.77 | 0.74 | 0.54 | 0.49 |
| Best month | +9.3% | +11.6% | +11.9% | +11.9% |
| Worst month | −7.1% | −14.0% | −17.1% | −17.1% |
| Best 12 months | +52.0% | +52.0% | +52.0% | +52.0% |
| Worst 12 months | −2.3% | −23.1% | −23.5% | −23.5% |
| Positive months | 72% | 62% | 60% | 59% |
| Beta vs S&P 500 | 0.46 | 0.75 | 0.85 | — |
| Correlation with S&P 500 | 0.42 | 0.67 | 0.74 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IVAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 131 | −23.5% | +6.1% | +52.0% | 59% |
| 3-year (a year) | 107 | −7.8% | +3.7% | +21.8% | 75% |
| 5-year (a year) | 83 | −6.5% | +3.6% | +11.3% | 75% |
| 10-year (a year) | 23 | +2.7% | +6.3% | +9.0% | 100% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
IVAL performance overview
Alpha Architect International Quantitative… (IVAL) returned +23.1% over the past year and +7.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +6.6% a year, turning $10,000 into about $21,415. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −46.1%, from Jan 24, 2018 to Mar 23, 2020, and it took 5.0 years to get back to the old high. IVAL finished 5 of its 11 full calendar years with a gain; the best year was 2025 (+34.9%) and the worst 2018 (−22.5%). Volatility has been 17.3% a year.
Related: IVAL chart, IVAL holdings, IVAL dividends. See the IVAL overview for the latest quote and fund facts.
IVAL performance FAQ
What is the IVAL return over the past year?
IVAL returned +23.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 19.4%.
What is the average annual return of IVAL?
IVAL has returned +11.2% a year over 5 years, +7.6% a year over 10 years, +6.6% a year since December 17, 2014 (total return, distributions reinvested).
How much would $10,000 invested in IVAL be worth?
$10,000 invested in IVAL at its first recorded close on December 17, 2014 would be worth about $21,415 on October 23, 2026 with distributions reinvested.
What was the worst year for IVAL?
The worst calendar year was 2018, with a total return of −22.5%. The best was 2025 at +34.9%.
What is the biggest drawdown of IVAL?
The largest peak-to-trough decline was −46.1% between January 24, 2018 and March 23, 2020. It recovered to the old high on March 19, 2025, 5.0 years after the bottom.
How volatile is IVAL?
Over the past 3 years IVAL had an annualized volatility of 13.6% and a Sharpe ratio of 1.04 (excess return over 1–3 month T-bills per unit of risk).