iShares MSCI USA Quality Factor ETF (QUAL) Performance
QUAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +12.9% since Dec 31, 2025
- 1 year
- +14.7% total return
- 5 years
- +11.0% a year
- 10 years
- +14.5% a year
- Since first price
- +13.6% a year since 2013
QUAL trailing returns vs SPY, QQQ, AGG
| Period | QUAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.3% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.4% | +3.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.6% | +8.2% | +7.8% | +8.4% | −1.5% |
| YTD | +12.9% | +12.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.7% | +13.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +74.7%+20.4%/yr | +69.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +68.5%+11.0%/yr | +59.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +288.8%+14.5%/yr | +236.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionJul 18, 2013 | +441.5%+13.6%/yr | +344.3% | — | — | — |
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: QUAL vs SPY
From Jul 18, 2013: QUAL grew to $54,145, SPY to $56,260.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QUAL returns by calendar year
10 of 12 full years positive. Best 2019 (+33.9%), worst 2022 (−20.5%). 2026 is year to date.
QUAL annual returns table
| Year | QUAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +12.9% | −9.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.7% | −18.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +22.3% | −7.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +30.9% | −8.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.5% | −27.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.9% | −7.4% | +28.7% | +27.4% | −1.8% |
| 2020 | +17.0% | −34.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +33.9% | −6.9% | +31.2% | +39.0% | +8.5% |
| 2018 | −5.7% | −20.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +22.3% | −2.8% | +21.7% | +32.7% | +3.6% |
| 2016 | +9.2% | −7.6% | +12.0% | +7.1% | +2.4% |
| 2015 | +5.4% | −11.5% | +1.2% | +9.4% | +0.5% |
| 2014 | +11.7% | −6.6% | +13.5% | +19.2% | +6.0% |
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.
QUAL largest drawdowns
Now 2.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −34.1% | Mar 23, 2020 | Aug 12, 2020 | 33 days | 6 months |
| Dec 29, 2021 | −28.2% | Oct 14, 2022 | Dec 11, 2023 | 9 months | 1.9 years |
| Sep 21, 2018 | −20.5% | Dec 24, 2018 | Apr 5, 2019 | 3 months | 6 months |
| Dec 4, 2024 | −18.0% | Apr 8, 2025 | Jul 23, 2025 | 4 months | 8 months |
| Jul 20, 2015 | −11.5% | Aug 25, 2015 | Oct 28, 2015 | 36 days | 3 months |
| Nov 3, 2015 | −11.2% | Feb 11, 2016 | Apr 1, 2016 | 3 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QUAL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +20.2% | +12.3% | +14.3% | +13.7% |
| Volatility (annualized) | 11.8% | 16.0% | 15.6% | 14.6% |
| Sharpe ratio | 1.27 | 0.59 | 0.79 | 0.84 |
| Sortino ratio | 2.27 | 0.89 | 1.22 | 1.33 |
| Best month | +8.6% | +9.2% | +12.3% | +12.3% |
| Worst month | −6.2% | −9.8% | −11.4% | −11.4% |
| Best 12 months | +37.6% | +37.6% | +52.7% | +52.7% |
| Worst 12 months | +5.1% | −20.5% | −20.5% | −20.5% |
| Positive months | 75% | 65% | 68% | 66% |
| Beta vs S&P 500 | 0.90 | 1.00 | 1.00 | — |
| Correlation with S&P 500 | 0.95 | 0.98 | 0.98 | — |
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.
QUAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 148 | −20.5% | +14.3% | +52.7% | 89% |
| 3-year (a year) | 124 | +5.6% | +12.3% | +25.8% | 100% |
| 5-year (a year) | 100 | +6.9% | +12.7% | +18.6% | 100% |
| 10-year (a year) | 40 | +11.1% | +13.2% | +14.6% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
QUAL performance overview
iShares MSCI USA Quality Factor ETF (QUAL) returned +14.7% over the past year and +14.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +13.6% a year, turning $10,000 into about $54,145. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −34.1%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. QUAL finished 10 of its 12 full calendar years with a gain; the best year was 2019 (+33.9%) and the worst 2022 (−20.5%). Volatility has been 14.6% a year.
Related: QUAL chart, QUAL holdings, QUAL dividends, QUAL valuation. See the QUAL overview for the latest quote and fund facts.
QUAL performance FAQ
What is the QUAL return over the past year?
QUAL returned +14.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.6%.
What is the average annual return of QUAL?
QUAL has returned +11.0% a year over 5 years, +14.5% a year over 10 years, +13.6% a year since July 18, 2013 (total return, distributions reinvested).
How much would $10,000 invested in QUAL be worth?
$10,000 invested in QUAL at its first recorded close on July 18, 2013 would be worth about $54,145 on October 23, 2026 with distributions reinvested.
What was the worst year for QUAL?
The worst calendar year was 2022, with a total return of −20.5%. The best was 2019 at +33.9%.
What is the biggest drawdown of QUAL?
The largest peak-to-trough decline was −34.1% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 12, 2020, 5 months after the bottom.
How volatile is QUAL?
Over the past 3 years QUAL had an annualized volatility of 11.8% and a Sharpe ratio of 1.27 (excess return over 1–3 month T-bills per unit of risk).