AIRR vs. QSR

Last updated Aug 2, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) is Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while QSR (Restaurant Brands International Inc.) is a stock. Over the past 10 years, AIRR returned 20.11%/yr vs 8.56%/yr for QSR. Their 0.36 correlation means their historical movements had little consistent relationship.

Performance

AIRR vs. QSR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and Restaurant Brands International Inc. (QSR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRR achieves a 19.12% return, which is significantly higher than QSR's 10.44% return. Over the past 10 years, AIRR has outperformed QSR with an annualized return of 20.11%, while QSR has yielded a comparatively lower 8.56% annualized return.

AIRR

• 1D: 1.59%
• 1M: -7.04%
• 6M: 6.28%
• YTD: 19.12%
• 1Y: 37.54%
• 3Y*: 29.02%
• 5Y*: 23.37%
• 10Y*: 20.11%
• ALL TIME*: 15.59%

QSR

• 1D: -0.43%
• 1M: -1.03%
• 6M: 12.49%
• YTD: 10.44%
• 1Y: 12.85%
• 3Y*: 2.88%
• 5Y*: 5.27%
• 10Y*: 8.56%
• ALL TIME*: 9.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIRR First Trust RBA American Industrial Renaissance ETF	$86.28M	$88.15M	$93.52M
QSR Restaurant Brands International Inc.	$146.87M	$201.15M	$244.46M

AIRR vs. QSR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIRR First Trust RBA American Industrial Renaissance ETF	19.12%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%
QSR Restaurant Brands International Inc.	10.44%	8.64%	-13.80%	24.64%	10.72%	2.72%	-0.34%	25.61%	-12.15%	30.69%

Correlation

The correlation between AIRR and QSR is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (5Y) Shows whether the relationship held over a longer period.	0.34
Correlation (10Y) Provides a long-term view across more market conditions.	0.35
Correlation (All Time) Calculated using the full available price history since Dec 15, 2014	0.36

The correlation between AIRR and QSR shifts across timeframes, from -0.02 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AIRR vs. QSR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIRR

AIRR Risk / Return Rank: 54
AIRR Sharpe Ratio Rank: 51
AIRR Sortino Ratio Rank: 50
AIRR Omega Ratio Rank: 46
AIRR Calmar Ratio Rank: 57
AIRR Martin Ratio Rank: 64

QSR

QSR Risk / Return Rank: 62
QSR Sharpe Ratio Rank: 64
QSR Sortino Ratio Rank: 57
QSR Omega Ratio Rank: 56
QSR Calmar Ratio Rank: 67
QSR Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIRR vs. QSR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and Restaurant Brands International Inc. (QSR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIRR	QSR	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.55	+0.68
Sortino ratio: Return per unit of downside risk	1.77	0.90	+0.87
Omega ratio: Gain probability vs. loss probability	1.21	1.11	+0.10
Calmar ratio: Return relative to maximum drawdown	2.01	1.06	+0.95
Martin ratio: Return relative to average drawdown	7.71	2.19	+5.52

AIRR vs. QSR - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 1.23, which is higher than the QSR Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of AIRR and QSR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIRR vs. QSR - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, smaller than the maximum QSR drawdown of -63.03%. Use the drawdown chart below to compare losses from any high point for AIRR and QSR.

Drawdown Indicators

	AIRR	QSR	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-63.03%	+20.66%
Max Drawdown (1Y) Largest decline over 1 year	-17.18%	-12.45%	-4.73%
Max Drawdown (3Y) Largest decline over 3 years	-27.95%	-24.53%	-3.42%
Max Drawdown (5Y) Largest decline over 5 years	-27.95%	-27.41%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	-42.37%	-63.03%	+20.66%
Current Drawdown Current decline from peak	-12.16%	-8.54%	-3.62%
Average Drawdown Average peak-to-trough decline	-7.46%	-12.00%	+4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	6.01%	-1.53%

Volatility

AIRR vs. QSR - Volatility Comparison

First Trust RBA American Industrial Renaissance ETF (AIRR) has a higher volatility of 10.08% compared to Restaurant Brands International Inc. (QSR) at 8.37%. This indicates that AIRR's price experiences larger fluctuations and is considered to be riskier than QSR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRR	QSR	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.08%	8.37%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	22.37%	18.97%	+3.40%
Volatility (1Y) Calculated over the trailing 1-year period	28.07%	24.07%	+4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.72%	22.81%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.47%	27.54%	-1.07%

Dividends

AIRR vs. QSR - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.09%, less than QSR's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.09%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
QSR Restaurant Brands International Inc.	3.43%	3.63%	3.56%	2.82%	3.34%	3.49%	3.40%	3.14%	3.44%	1.27%	1.30%	1.18%

Frequently Asked Questions

Can I hold both AIRR and QSR in my portfolio?

AIRR and QSR have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRR or QSR?

AIRR has higher volatility (10.08%) compared to QSR (8.37%). In terms of maximum drawdown, AIRR dropped -42.37% vs QSR's -63.03%.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (1.23 vs 0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.