FVALvsQDEFETF Comparison
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Fidelity Value Factor ETF (FVAL) belongs to the US Large Cap Value segment. Northern Trust Quality Dividend Defensive ETF (QDEF) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Healthcare. FVAL is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.4% for QDEF. FVAL is up 14.23% year-to-date (YTD) with +$104M in YTD flows. QDEF performs worse with 12.28% YTD performance, and +$4M in YTD flows. Run a side-by-side ETF comparison of FVAL and QDEF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FVAL vs QDEF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FVAL QDEF | -0.88%-0.73% | +3.49%+3.15% | +14.23%+12.28% | +21.40%+15.45% | +73.59%+70.31% | +80.27%+80.46% |
| Flows | FVAL QDEF | +$20M-$2M | +$52M-$8M | +$104M+$4M | +$111M+$12M | +$361M+$18M | +$485M-$97M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FVAL QDEF | +10.35%+8.38% | +12.05%+9.86% | +14.30%+12.04% | +16.43%+13.97% |
| Max drawdown | FVAL QDEF | -2.66%-2.36% | -8.88%-6.99% | -18.14%-14.47% | -23.38%-21.30% |
| Max drawdown duration | FVAL QDEF | 24d17d | 72d66d | 131d191d | 702d566d |
Trading data
FVAL | QDEF | |
Last sale 9/15/2026 at 7:55 PM | $81.84 | $90.14 |
| Previous close 09/15/2026 | $82.32 | $90.36 |
| Consolidated volume 09/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FVAL | QDEF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 7:55 PM
Live
Closed
FVAL | QDEF | |
|---|---|---|
| Last price | $81.84 | $90.14 |
| 1D performance | -0.58% | -0.24% |
| AuM | $1.37 B | $552.78 M |
| E/R | 0.15% | 0.4% |
Characteristics
FVAL | QDEF | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | Northern Trust |
| Benchmark | Fidelity U.S. Value Factor Index | Northern Trust Quality Dividend Defensive Index |
| N° of holdings | 124 | 133 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 12, 2016 | December 14, 2012 |
| ESG | No | No |
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Exposure
Countries
FVAL
USA
97.99%
Other
2.01%
QDEF
USA
96.57%
Other
3.43%
Sectors
FVAL
Technology
39.97%
Finance
15.9%
Healthcare
10.76%
Industrials
8.83%
Consumer Non-Cycl.
8.76%
Other
15.78%
QDEF
Technology
39.07%
Finance
16.13%
Healthcare
10.34%
Consumer Non-Cycl.
9.59%
Other
24.86%
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Diversification
FVAL
Total weight of top 15 holdings out of 15
47.86%
QDEF
Total weight of top 15 holdings out of 15
46.38%
Top 15 holdings
Data as of July 31, 2026
FVAL
Apple, Inc.
8.01%
NVIDIA Corp.
7.60%
Alphabet, Inc.
5.31%
Microsoft Corp.
4.81%
Amazon.com, Inc.
3.75%
Broadcom Inc.
3.35%
Micron Technology, Inc.
2.69%
Meta Platforms, Inc.
2.11%
Berkshire Hathaway, Inc.
1.87%
Eli Lilly & Co.
1.86%
Visa, Inc.
1.46%
Johnson & Johnson
1.42%
UnitedHealth Group, Inc.
1.23%
AbbVie, Inc.
1.20%
Bank of America Corp.
1.19%
QDEF
Apple, Inc.
8.26%
NVIDIA Corp.
6.35%
Broadcom Inc.
4.64%
Microsoft Corp.
4.02%
AbbVie, Inc.
3.01%
Johnson & Johnson
2.74%
Alphabet, Inc.
2.42%
Procter & Gamble Co.
2.33%
Cisco Systems, Inc.
2.25%
JPMorgan Chase & Co.
2.09%
Philip Morris International, Inc.
2.06%
Alphabet, Inc.
1.96%
KLA Corp.
1.68%
Lam Research Corp.
1.35%
The TJX Cos., Inc.
1.21%
Frequently asked questions about FVAL and QDEF
How have the FVAL and QDEF ETFs performed in 2026?
As of September 15, 2026, FVAL is up 14.23% year-to-date (YTD), while QDEF has returned 12.28%. That puts FVAL better performer ahead so far this year.
Which ETF is attracting more investor money: FVAL or QDEF?
Year-to-date, the FVAL ETF saw +$104M in flows, compared to +$4M for QDEF.
Which ETF is more volatile: FVAL or QDEF?
Over the past year, FVAL had a volatility of 12.05%, while QDEF experienced 9.86%.
Which ETF is bigger: FVAL or QDEF?
As of September 15, 2026, FVAL holds $1.37 B in assets under management (AUM), while QDEF manages $552.78 M.
What sectors do the FVAL and QDEF ETFs invest in?
FVAL leans toward sectors like Technology, Finance and Healthcare. Meanwhile, QDEF focuses on Technology, Finance and Healthcare.
What are the top holdings of the FVAL ETF and QDEF ETF?
FVAL top holdings include Apple, Inc., NVIDIA Corp. and Alphabet, Inc.. QDEF holds in its top three: Apple, Inc., NVIDIA Corp. and Broadcom Inc..
Which ETF is more diversified: FVAL or QDEF?
FVAL holds 124 securities with 47.86% of its assets in the top 15. QDEF has 134 securities and a top 15 weight of 46.38%.
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