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QUAL

GradeAChicago Board Options Exchange

iShares MSCI USA Quality Factor ETF

Factor & Screened Index · IShares · Inception 2013-07-15 · SEC filings

$222.44−0.64 (−0.28%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 59 prints from 223.07 to 222.44. Range 221.89 to 223.21. Use the arrow keys to read each point.$222.00$223.0010 AM12 PM2 PM4 PM
Expense ratio
0.15%
Fund size
$47.9B
1Y return
+16.2%
Yield · Last 12 months
0.85%
Holdings
118
Volume · 30D
1.5M sh
NAV per share
$222.96
52W range
low $185.89high $227.32

The ETF.net QUAL Grade

A

81/ 100

Rank 1 of 27 in US Quality Index⁠

Confidence High

Six-pillar profile for QUAL. Scores out of 100: Cost 87, Risk 66, Mission 95, Tradability 88, Holdings 37, Durability 96. Strongest: Durability (96). Weakest: Holdings (37). Leans toward Durability and Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 81 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 87
    Category rank5/27 · top 19%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 95
    Category rank1/19 · top 5%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 66
    Category rank8/27 · top 30%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 88
    Category rank2/27 · top 7%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 37
    Category rank21/27 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 96
    Category rank1/27 · top 4%

Graded as of Sep 22, 2026

Our read on QUAL

ETF.net Research

AQUAL screens US large and mid caps for high return on equity, low debt and steady earnings, then does it sector by sector, so the portfolio stays spread across the market instead of piling into whichever sector looks healthiest.

Stated mandate

The fund tracks an index of U.S. large- and mid-capitalization stocks selected for quality characteristics, including high return on equity, stable earnings, and low debt.

Why people hold it

  1. 01At 0.15%, it undercuts the typical quality-factor fund, where the cohort median sits at 0.29%.
  2. 02Sector neutral by design: companies are ranked on return on equity, leverage and earnings variability against rivals in their own GICS sector.msci.comishares.com
  3. 03Running since 2013, now a $25B-$100B fund that trades actively, with returns that stay close to its index.

Worth knowing

  1. 01About 120 large and mid caps, leaning on the same familiar giants as a broad US index fund. This is a tilt on core equity, not new ground.
  2. 02Sector neutrality cuts both ways: it keeps a foot in every sector rather than stepping away from ones with weak fundamentals.msci.com
  3. 03Cheap, not cheapest. JQUA (0.12%) and VFQY (0.13%) shave a basis point or three off the fee.

QUAL Holdings

As of Sep 22, 2026, 3:49 AM
Asset class
Stocks
Holdings
118
Top-10 weight
45%
Largest holding
MSFT7.7%

Sectors

  • Technology39.8%
  • Financials12.0%
  • Communication10.1%
  • Health Care9.6%
  • Consumer Discr.8.1%
  • Industrials7.4%
  • Cons. Staples4.3%
  • Energy3.4%
  • Utilities2.0%
  • Materials1.8%
  • Real Estate1.6%

Geography

  • United States96.06%
  • Ireland1.50%
  • Switzerland1.19%
  • United Kingdom1.07%
  • Bermuda0.09%
  • Cayman Islands0.09%
The fund’s holdings, weight-ordered — page 1 of 8.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMICROSOFT7.65%7,300,123$3.6B792
002AAPLAPPLE7.27%10,192,408$3.4B707
003NVDANVIDIA6.52%13,812,700$3.1B828
004METAMETA PLATFORMS CLASS A4.44%3,138,531$2.1B683
005LLYELI LILLY3.70%1,510,691$1.7B569
006LRCXLAM RESEARCH3.45%5,646,765$1.6B591
007TJXTJX3.23%11,977,799$1.5B419
008VVISA CLASS A3.20%4,097,723$1.5B550
009AMATAPPLIED MATERIAL INC2.73%2,897,685$1.3B558
010KLACKLA2.40%6,401,025$1.1B506
011XOMEXXONMOBIL HOLDINGS CORP2.31%6,656,134$1.1B501
012MAMASTERCARD CLASS A2.26%1,887,132$1.1B512
013JNJJOHNSON & JOHNSON2.18%3,810,726$1.0B521
014GOOGLALPHABET CLASS A2.02%2,728,185$954M704
015BRK-BBERKSHIRE HATHAWAY INC CLASS B1.85%1,708,697$871M359

Showing 1–15 of 120 holdings

QUAL Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

QUAL$11,617
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. QUAL $11,617. SPY $11,723. Use the arrow keys to read each point.$9,349$10,668$11,988Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for QUAL. Periods over one year show the average yearly return.
PeriodQUAL
Year to date+13.0%
1 month+0.1%
3 months+3.6%
1 year+16.2%
3 years+20.3%per year
5 years+11.8%per year
10 years+14.3%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for QUAL
YearReturn barQUAL
2026 YTD+13.0%
2025+12.7%
2024+22.3%
2023+30.9%
2022−20.5%
2021+26.9%
2020+17.0%

QUAL in the news

QUAL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.85%Last 12 months
Payout per share
$1.89Last 12 months
Last payment
$0.47 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 40 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.35; Jun 27, 2017 $0.39; Sep 26, 2017 $0.34; Dec 21, 2017 $0.38; Mar 22, 2018 $0.38; Jun 26, 2018 $0.38; Sep 26, 2018 $0.37; Dec 17, 2018 $0.41; Mar 20, 2019 $0.35; Jun 17, 2019 $0.45; Sep 24, 2019 $0.37; Dec 16, 2019 $0.44; Mar 25, 2020 $0.41; Jun 15, 2020 $0.36; Sep 23, 2020 $0.44; Dec 14, 2020 $0.41; Mar 25, 2021 $0.54; Jun 10, 2021 $0.38; Sep 24, 2021 $0.42; Dec 13, 2021 $0.41; Mar 24, 2022 $0.38; Jun 9, 2022 $0.42; Sep 26, 2022 $0.53; Dec 13, 2022 $0.48; Mar 23, 2023 $0.37; Jun 7, 2023 $0.38; Sep 26, 2023 $0.51; Dec 20, 2023 $0.45; Dec 28, 2023 $0.10; Mar 21, 2024 $0.37; Jun 11, 2024 $0.35; Sep 25, 2024 $0.54; Dec 17, 2024 $0.55; Mar 18, 2025 $0.39; Jun 16, 2025 $0.39; Sep 16, 2025 $0.47; Dec 16, 2025 $0.61; Mar 17, 2026 $0.42; Jun 15, 2026 $0.39; Sep 15, 2026 $0.47. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 15, 2026Sep 18, 2026$0.47
Jun 15, 2026Jun 18, 2026$0.39
Mar 17, 2026Mar 20, 2026$0.42
Dec 16, 2025Dec 19, 2025$0.61
Sep 16, 2025Sep 19, 2025$0.47
Jun 16, 2025Jun 20, 2025$0.39
Mar 18, 2025Mar 21, 2025$0.39
Dec 17, 2024Dec 20, 2024$0.55
Sep 25, 2024Sep 30, 2024$0.54
Jun 11, 2024Jun 17, 2024$0.35
Mar 21, 2024Mar 27, 2024$0.37
Dec 28, 2023Jan 4, 2024$0.10

QUAL Risk

How much the fund’s monthly returns vary, scaled to a year.
12.3%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.05
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−28.2%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.90
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

QUAL Cost

Expense ratio0.15%
  • The middle half of US Quality Index funds
  • Median 0.38%

2 of the 27 US Quality Index funds charge less.

QUAL costs $15.00 a year on $10,000. The median US Quality Index fund costs $38.00.