FDRR vs. QUS

Last updated Jun 4, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds - FDRR tracks the Fidelity Dividend Index for Rising Rates while QUS tracks the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 5 years, FDRR returned 12.34%/yr vs 11.08%/yr for QUS. Their correlation of 0.90 suggests significant overlap in exposure. FDRR charges 0.29%/yr vs 0.15%/yr for QUS.

Performance

FDRR vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) and SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDRR achieves a 10.01% return, which is significantly higher than QUS's 6.67% return.

FDRR

• 1D: -0.99%
• 1M: 6.39%
• YTD: 10.01%
• 6M: 10.38%
• 1Y: 31.27%
• 3Y*: 21.03%
• 5Y*: 12.34%
• 10Y*: —

QUS

• 1D: -0.43%
• 1M: 2.68%
• YTD: 6.67%
• 6M: 6.93%
• 1Y: 17.65%
• 3Y*: 17.53%
• 5Y*: 11.08%
• 10Y*: 13.67%

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

FDRR vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	10.01%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%
QUS SPDR MSCI USA StrategicFactors ETF	6.67%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	21.67%

Correlation

The correlation between FDRR and QUS is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.90

The correlation between FDRR and QUS has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

FDRR vs. QUS - Sectors Allocation Comparison

Sectors	FDRR	QUS
Technology	34.5%	26.3%
Financial Services	12.0%	14.6%
Communication Services	10.7%	10.2%
Healthcare	9.4%	13.4%
Consumer Cyclical	8.7%	5.8%
Industrials	8.7%	8.6%
Consumer Defensive	4.8%	9.2%
Energy	3.6%	4.6%
Real Estate	2.9%	1.4%
Utilities	2.4%	3.6%
Basic Materials	2.2%	2.3%

Return for Risk

FDRR vs. QUS — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 82
FDRR Sharpe Ratio Rank: 85
FDRR Sortino Ratio Rank: 86
FDRR Omega Ratio Rank: 84
FDRR Calmar Ratio Rank: 73
FDRR Martin Ratio Rank: 79

QUS

QUS Risk / Return Rank: 57
QUS Sharpe Ratio Rank: 56
QUS Sortino Ratio Rank: 58
QUS Omega Ratio Rank: 55
QUS Calmar Ratio Rank: 52
QUS Martin Ratio Rank: 63

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.

FDRR vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) and SPDR MSCI USA StrategicFactors ETF (QUS). 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.

	FDRR	QUS	Difference
Sharpe ratio Return per unit of total volatility	2.85	1.95	+0.90
Sortino ratio Return per unit of downside risk	3.96	2.81	+1.16
Omega ratio Gain probability vs. loss probability	1.52	1.35	+0.17
Calmar ratio Return relative to maximum drawdown	3.69	2.59	+1.10
Martin ratio Return relative to average drawdown	15.70	11.54	+4.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDRR vs. QUS - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.85, which is higher than the QUS Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FDRR and QUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDRR	QUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	1.95	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.78	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.77	+0.04

Drawdowns

FDRR vs. QUS - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, which is greater than QUS's maximum drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for FDRR and QUS.

Drawdown Indicators

	FDRR	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-33.78%	-2.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-6.85%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-13.94%	-4.10%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-22.30%	+1.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-1.15%	-0.50%	-0.65%
Average Drawdown Average peak-to-trough decline	-4.00%	-3.70%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.53%	+0.47%

Volatility

FDRR vs. QUS - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) has a higher volatility of 3.08% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 1.78%. This indicates that FDRR's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDRR	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	1.78%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	8.31%	6.66%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	9.09%	+1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	14.33%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	16.42%	+0.46%

FDRR vs. QUS - Expense Ratio Comparison

FDRR has a 0.29% expense ratio, which is higher than QUS's 0.15% expense ratio.

Dividends

FDRR vs. QUS - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.10%, more than QUS's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDRR Fidelity Dividend ETF for Rising Rates	2.10%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%	0.00%
QUS SPDR MSCI USA StrategicFactors ETF	1.31%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%

Frequently Asked Questions

Can I hold both FDRR and QUS in my portfolio?

FDRR and QUS have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or QUS?

FDRR has higher volatility (3.08%) compared to QUS (1.78%). In terms of maximum drawdown, FDRR dropped -36.52% vs QUS's -33.78%.

Which ETF is better, FDRR or QUS?

On 5-year performance, FDRR leads with 12.34% vs 11.08% for QUS. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or QUS?

Over the 5-year period, FDRR has performed better with a 12.34% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or QUS?

QUS is cheaper with a 0.15% expense ratio, compared with 0.29% for FDRR.

Which ETF pays a higher dividend yield, FDRR or QUS?

FDRR has the higher dividend yield at 2.10%, compared with 1.31% for QUS.

What is the main difference between FDRR and QUS?

FDRR tracks Fidelity Dividend Index for Rising Rates, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.29% for FDRR and 0.15% for QUS.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.85 vs 1.95), 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.