AQLT vs. SPY
AQLT (iShares MSCI Global Quality Factor ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - AQLT is a Global Equities fund tracking the MSCI ACWI Quality Index (Net), while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, AQLT returned 29.00% vs 27.98% for SPY. Their correlation of 0.93 suggests significant overlap in exposure. AQLT charges 0.20%/yr vs 0.09%/yr for SPY.
Performance
AQLT vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, AQLT achieves a 12.40% return, which is significantly higher than SPY's 10.91% return.
AQLT
- 1D
- -0.37%
- 1M
- 4.34%
- YTD
- 12.40%
- 6M
- 12.67%
- 1Y
- 29.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.70%
- 1M
- 5.05%
- YTD
- 10.91%
- 6M
- 10.91%
- 1Y
- 27.98%
- 3Y*
- 22.35%
- 5Y*
- 13.83%
- 10Y*
- 15.49%
AQLT vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AQLT iShares MSCI Global Quality Factor ETF | 12.40% | 17.65% | -3.14% |
SPY State Street SPDR S&P 500 ETF | 10.91% | 17.72% | -2.69% |
Correlation
The correlation between AQLT and SPY is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024 | 0.93 |
The correlation between AQLT and SPY has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
AQLT vs. SPY — Risk / Return Rank
AQLT
SPY
AQLT vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Quality Factor ETF (AQLT) and State Street SPDR S&P 500 ETF (SPY). 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.
| AQLT | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.43 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 3.16 | -0.44 |
| Martin ratioReturn relative to average drawdown | 12.25 | 14.72 | -2.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AQLT | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 2.38 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.59 | +0.51 |
Drawdowns
AQLT vs. SPY - Drawdown Comparison
The maximum AQLT drawdown since its inception was -16.84%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AQLT and SPY.
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Drawdown Indicators
| AQLT | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -55.19% | +38.35% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -8.88% | -1.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.70% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -9.05% | +6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 1.91% | +0.46% |
Volatility
AQLT vs. SPY - Volatility Comparison
iShares MSCI Global Quality Factor ETF (AQLT) has a higher volatility of 3.54% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that AQLT's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQLT | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 2.84% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 8.90% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.39% | 11.83% | +1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 17.05% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 17.94% | -0.95% |
AQLT vs. SPY - Expense Ratio Comparison
AQLT has a 0.20% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AQLT vs. SPY - Dividend Comparison
AQLT's dividend yield for the trailing twelve months is around 0.93%, less than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQLT iShares MSCI Global Quality Factor ETF | 0.93% | 1.05% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
With a correlation of 0.93, AQLT and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AQLT has higher volatility (3.54%) compared to SPY (2.84%). In terms of maximum drawdown, AQLT dropped -16.84% vs SPY's -55.19%.
On 1-year performance, AQLT leads with 29.00% vs 27.98% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AQLT has performed better with a 29.00% return vs 27.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.20% for AQLT.
SPY has the higher dividend yield at 0.98%, compared with 0.93% for AQLT.
AQLT is categorized as Global Equities, while SPY is S&P 500. AQLT tracks MSCI ACWI Quality Index (Net), while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for AQLT and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.38 vs 2.18), 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.
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