IVAL
Alpha Architect International Quantitative Value ETF
ValueShares International Quantitative Value ETF is an actively managed exchange traded fund incorporated in the USA. The ETF holds mid to large-cap developed markets (excluding U.S. and Canada) stocks and will invest in approximately 50 of the top equity securities as determined by its quantitative value system. The ETF weights the holdings equally and follows a semi-annual rebalance schedule.
International
EQUITY
Active
MANAGEMENT STYLE
$ 210.4 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Alpha Architect LLC |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 16, 2014 |
| Assets (mns) | $210 |
| Expense ratio | 49 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 +
| KOMATSU LTD | 2.3 % |
| MAKITA CORP | 2.3 % |
| HITACHI CONSTRUCTION MACHINE | 2.2 % |
| TOYODA GOSEI CO LTD | 2.2 % |
| AIR FRANCE-KLM | 2.2 % |
| DEUTSCHE TELEKOM AG | 2.2 % |
| MILLICOM INTL CELLULAR S.A. | 2.1 % |
| HENKEL AG & CO KGAA VORZUG | 2.1 % |
| IMPERIAL TOBACCO GROUP PLC | 2.1 % |
| GALP ENERGIA SGPS SA-B SHRS | 2.1 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 197 |
| Wgt avg mkt cap (mns) | $19,428 |
| Large cap (>$10bn) | 50.8% |
| Mid cap ($2-10bn) | 46.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 97.1% |
| Emerging mkts. | 1.8% |
Country Exposure
 |
JAPAN | 45.7 % |
 |
AUSTRALIA | 13.5 % |
 |
GERMANY | 8.6 % |
 |
BRITAIN | 5.9 % |
 |
FRANCE | 4.2 % |
 |
NORWAY | 4.0 % |
 |
LUXEMBOURG | 3.8 % |
 |
PORTUGAL | 2.1 % |
 |
ITALY | 2.0 % |
 |
SWEDEN | 2.0 % |
Historical Performance
Standardized Performance (as of 01/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.8% | 37.6% | 14.7% | 12.2% | 4.2% | 4.1% | -- | 2.6% |
| Dividend Yield | 0.0% | 4.2% | 3.8% | 4.5% | 5.0% | 3.7% | -- | 3.4% |
| Total Returns | 6.8% | 41.8% | 18.4% | 16.7% | 9.2% | 7.8% | -- | 6.1% | Ann. Volatility | 11.9% | 16.2% | 15.8% | 15.6% | 17.4% | 18.9% | -- | 18.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.61 | 51% |
| MSCI EAFE | 0.92 | 87% |
| MSCI Emg Mkts | 0.68 | 56% |
Liquidity Measures
| Avg. volume (000) | 18 |
| ADV traded (mns) | $1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.14% |
Technical Indicators
| 30d moving avg. (EMA) | $33.02 |
| Relative strength (RSI) | 73 |
| MACD/Signal | 0.83/0.68 |
| Bollinger Bands (Upper/Lower) | $35.18/$31.49 |
| Short interest (% of AUM) | 0.1% |
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. IVAL |
Expenses vs. IVAL |
ALTAR Score™ vs. IVAL |
|---|---|---|---|---|
| JIVE | JPMorgan International Value ETF | 23.8% | +6 bp | +0.8% |
| FJP | First Trust Japan AlphaDEX Fund | 17.0% | +31 bp | -1.7% |
| ICOW | Pacer Developed Markets International Cash Cows 100 ETF | 16.6% | +16 bp | +0.1% |
| IDOG | ALPS International Sector Dividend Dogs ETF | 13.6% | +1 bp | +1.2% |
| RODM | Hartford Multifactor Developed Markets (ex-US) ETF | 10.7% | -20 bp | -0.5% |
| JHID | John Hancock International High Dividend ETF | 10.7% | -3 bp | +0.1% |
| FDT | First Trust Developed Markets ex-US AlphaDEX Fund | 10.4% | +31 bp | -1.2% |
| AIRL | Themes Airlines ETF | 10.1% | -14 bp | +0.3% |
Risk and Returns: IVAL 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 2/10/2026
Peer Group Comparison Sample data. Subscribe for access.
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™
IVAL
8.1%
Cat. Avg
6.2%
ALTAR Score™ Calculation
Category Overview
There are 333 funds in the International Equity category, with an average ALTAR Score™
of 6.2% and a standard deviation of
1.5%. IVAL's ALTAR Score™ is approximately
1.3 standard deviations
above
the category average. This places IVAL in the 91st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
IVALSELL
U/W
HOLD
O/W
BUY