QUA016Factor HubQuality FactorsMedium
Audit Quality Factor
Blends audit opinion, fee changes and auditor reputation into a report-credibility score.
Formula
AuditQual = AuditOpinion * FeeChange * FirmRankPerformance (Top-30 equal-weight long, monthly rebalance)
Annualized return
9.31%
Sharpe ratio
0.56
Max drawdown
-31.26%
Total return
143.49%
Cumulative performance（2016-09 … 2026-08）
2016 -5.1%2017 -15.5%2018 -3.9%2019 +22.6%2020 +46.4%2021 +8.3%2022 +30.8%2023 -6.0%2024 +1.9%2025 +19.5%2026 +8.5%
Current top-30 holdings
| # | Ticker | Company | Score |
|---|---|---|---|
| 1 | ORCL | Oracle | 1.200 |
| 2 | KLAC | KLA | 1.032 |
| 3 | PANW | Palo Alto Networks | 1.032 |
| 4 | GILD | Gilead Sciences | 1.032 |
| 5 | AAPL | Apple | 1.000 |
| 6 | MSFT | Microsoft | 1.000 |
| 7 | NVDA | NVIDIA | 1.000 |
| 8 | AVGO | Broadcom | 1.000 |
| 9 | GOOGL | Alphabet | 1.000 |
| 10 | META | Meta Platforms | 1.000 |
| 11 | AMZN | Amazon | 1.000 |
| 12 | TSLA | Tesla | 1.000 |
| 13 | WMT | Walmart | 1.000 |
| 14 | LLY | Eli Lilly | 1.000 |
| 15 | UNH | UnitedHealth | 1.000 |
| 16 | NVO | Novo Nordisk | 1.000 |
| 17 | BRK.B | Berkshire Hathaway | 1.000 |
| 18 | JPM | JPMorgan Chase | 1.000 |
| 19 | V | Visa | 1.000 |
| 20 | MA | Mastercard | 1.000 |
| 21 | CRM | Salesforce | 0.860 |
| 22 | ADBE | Adobe | 0.860 |
| 23 | AMD | Advanced Micro Devices | 0.860 |
| 24 | INTU | Intuit | 0.860 |
| 25 | QCOM | Qualcomm | 0.860 |
| 26 | TXN | Texas Instruments | 0.860 |
| 27 | AMAT | Applied Materials | 0.860 |
| 28 | MU | Micron Technology | 0.860 |
| 29 | LRCX | Lam Research | 0.860 |
| 30 | ADI | Analog Devices | 0.860 |
Holdings computed by the exact formula above at the latest month-end observation on the deterministic research panel (2026-08).
Data export
Exports include formulas, performance statistics, the 120-month series and current holdings — everything needed to replicate results locally.