BROL vs. QWLD

Last updated Jul 8, 2026

BROL (Baron Risk Optimized Large Cap ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds. BROL is actively managed, while QWLD is passively managed. Their correlation of 0.85 suggests significant overlap in exposure. BROL charges 0.45%/yr vs 0.30%/yr for QWLD.

Performance

BROL vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Risk Optimized Large Cap ETF (BROL) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BROL

• 1D: -0.63%
• 1M: 4.15%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QWLD

• 1D: -0.07%
• 1M: 2.32%
• 6M: 6.61%
• YTD: 8.05%
• 1Y: 16.16%
• 3Y*: 16.45%
• 5Y*: 10.22%
• 10Y*: 11.87%

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

BROL vs. QWLD - Yearly Performance Comparison

	2026 (YTD)
BROL Baron Risk Optimized Large Cap ETF	2.61%
QWLD SPDR MSCI World StrategicFactors ETF	1.04%

Correlation

The correlation between BROL and QWLD is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.85

Return for Risk

BROL vs. QWLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BROL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QWLD

QWLD Risk / Return Rank: 58
QWLD Sharpe Ratio Rank: 60
QWLD Sortino Ratio Rank: 61
QWLD Omega Ratio Rank: 58
QWLD Calmar Ratio Rank: 50
QWLD Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BROL vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Risk Optimized Large Cap ETF (BROL) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

	BROL	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.67	—
Sortino ratio: Return per unit of downside risk	—	2.39	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.12	—
Martin ratio: Return relative to average drawdown	—	9.09	—

Drawdowns

BROL vs. QWLD - Drawdown Comparison

The maximum BROL drawdown since its inception was -4.67%, smaller than the maximum QWLD drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for BROL and QWLD.

Drawdown Indicators

	BROL	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-4.67%	-31.89%	+27.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.66%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	-0.63%	-0.07%	-0.56%
Average Drawdown Average peak-to-trough decline	-1.43%	-3.68%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.78%	—

Volatility

Volatility by Period

	BROL	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.17%	9.73%	+7.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.17%	13.54%	+3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	15.13%	+2.04%

BROL vs. QWLD - Expense Ratio Comparison

BROL has a 0.45% expense ratio, which is higher than QWLD's 0.30% expense ratio.

Dividends

BROL vs. QWLD - Dividend Comparison

BROL has not paid dividends to shareholders, while QWLD's dividend yield for the trailing twelve months is around 1.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BROL Baron Risk Optimized Large Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QWLD SPDR MSCI World StrategicFactors ETF	1.81%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%

Frequently Asked Questions

Can I hold both BROL and QWLD in my portfolio?

BROL and QWLD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BROL or QWLD?

On fees, QWLD is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BROL or QWLD?

QWLD is cheaper with a 0.30% expense ratio, compared with 0.45% for BROL.

Which ETF pays a higher dividend yield, BROL or QWLD?

QWLD has the higher dividend yield at 1.81%, compared with 0.00% for BROL.

What is the main difference between BROL and QWLD?

They also come from different issuers: Baron Capital and State Street. Their fees differ too: 0.45% for BROL and 0.30% for QWLD.