QUAL vs V: Correlation
iShares MSCI USA Quality Factor ETF (QUAL) and Visa Inc. (V) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QUAL and V?
On 3 years of weekly data the QUAL/V correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.59). The 5-year figure is 0.64, and annualized covariance runs at 157.6 %².
By 3-year correlation, V places #53 of the 106 assets tracked against QUAL. The trailing year gives QUAL the advantage: +19.7% versus +9.2%, a 10.5-point spread. The rolling one-year correlation moved between 0.37 and 0.78 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
QUAL vs V: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | V (Visa Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +9.2% |
| 5-year return | +68.0% | +70.5% |
| Volatility (ann.) | 14.0% | 19.1% |
| Beta vs S&P 500 | 0.93 | 0.72 |
| Max drawdown (3Y) | -18.0% | -20.4% |
| Market cap | – | $708.8B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 0.86% | 0.70% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | Financials |
QUAL is a Large Blend fund from iShares: $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | QUAL | V |
|---|---|---|
| 2022 | -20.5% | -3.4% |
| 2023 | +30.9% | +26.3% |
| 2024 | +22.3% | +22.3% |
| 2025 | +12.7% | +11.8% |
| 2026 | +13.5% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QUAL holds V at a 3.26% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are QUAL and V good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between QUAL and V?
As of 2026-08-27, the correlation of weekly returns between QUAL and V is 0.59 over 3 years, 0.39 over 1 year and 0.64 over 5 years.
Is V a good diversifier for QUAL?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: QUAL correlations · V correlations
