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FDRR vs. QUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDRR vs. QUS

Last updated Aug 6, 2026
Documentation

FDRR (Fidelity Dividend ETF for Rising Rates) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds - FDRR tracks the Fidelity Dividend Index for Rising Rates while QUS tracks the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 5 years, FDRR returned 13.18%/yr vs 11.08%/yr for QUS. Their correlation of 0.90 means they have usually moved in the same direction. Both charge a 0.15% expense ratio.

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 State Street SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDRR achieves a 15.67% return, which is significantly higher than QUS's 11.79% return.

FDRR

1D
0.00%
1M
5.51%
6M
12.92%
YTD
15.67%
1Y
28.88%
3Y*
21.47%
5Y*
13.18%
10Y*
—
ALL TIME*
14.06%

QUS

1D
0.02%
1M
2.61%
6M
9.40%
YTD
11.79%
1Y
20.72%
3Y*
17.66%
5Y*
11.08%
10Y*
13.70%
ALL TIME*
12.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FDRR

Fidelity Dividend ETF for Rising Rates
$1.12M$1.06M$1.10M

QUS

State Street SPDR MSCI USA StrategicFactors ETF
$3.07M$4.72M$3.42M

FDRR vs. QUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDRR
Fidelity Dividend ETF for Rising Rates		15.67%21.70%20.24%13.66%-9.73%26.06%8.23%26.86%-3.60%19.29%
QUS
State Street SPDR MSCI USA StrategicFactors ETF		11.79%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, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.82

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.92

Correlation (All Time)
Calculated using the full available price history since Sep 15, 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

35.7%
28.4%

Financial Services

12.4%
15.7%

Healthcare

10.2%
14.4%

Communication Services

9.6%
8.2%

Industrials

9.0%
8.1%

Consumer Cyclical

8.2%
5.7%

Consumer Defensive

4.7%
8.3%

Energy

3.2%
3.3%

Real Estate

2.9%
1.6%

Utilities

2.3%
3.9%

Basic Materials

1.9%
2.2%

Technology

FDRR
35.7%
QUS
28.4%

Financial Services

FDRR
12.4%
QUS
15.7%

Healthcare

FDRR
10.2%
QUS
14.4%

Communication Services

FDRR
9.6%
QUS
8.2%

Industrials

FDRR
9.0%
QUS
8.1%

Consumer Cyclical

FDRR
8.2%
QUS
5.7%

Consumer Defensive

FDRR
4.7%
QUS
8.3%

Energy

FDRR
3.2%
QUS
3.3%

Real Estate

FDRR
2.9%
QUS
1.6%

Utilities

FDRR
2.3%
QUS
3.9%

Basic Materials

FDRR
1.9%
QUS
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Dividend ETF for Rising Rates

State Street SPDR MSCI USA StrategicFactors ETF

Often compared with FDRR:
FDRR vs. FDVVFDRR vs. SCHDFDRR vs. FDLOFDRR vs. FDGFXFDRR vs. NOBLFDRR vs. EQRRFDRR vs. IDRV
Often compared with QUS:
QUS vs. IVVQUS vs. QUALQUS vs. JQUAQUS vs. SPYQUS vs. VOOQUS vs. DGTQUS vs. BERZ

Return for Risk

FDRR vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FDRR
FDRR Risk / Return Rank: 8888
Overall Rank
FDRR Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
FDRR Sortino Ratio Rank: 9191
Sortino Ratio Rank
FDRR Omega Ratio Rank: 9191
Omega Ratio Rank
FDRR Calmar Ratio Rank: 8383
Calmar Ratio Rank
FDRR Martin Ratio Rank: 8585
Martin Ratio Rank
QUS
QUS Risk / Return Rank: 8484
Overall Rank
QUS Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 8787
Sortino Ratio Rank
QUS Omega Ratio Rank: 8686
Omega Ratio Rank
QUS Calmar Ratio Rank: 7676
Calmar Ratio Rank
QUS Martin Ratio Rank: 8585
Martin Ratio Rank
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.

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 State Street 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.

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.

FDRRQUSDifference
Sharpe ratioReturn per unit of total volatility
2.54
2.27

+0.27

Sortino ratioReturn per unit of downside risk
3.53
3.20

+0.34

Omega ratioGain probability vs. loss probability

1.46

1.41

+0.05

Calmar ratioReturn relative to maximum drawdown

3.41

3.04

+0.37

Martin ratioReturn relative to average drawdown

13.50

13.56

-0.06

FDRR vs. QUS - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.54, which is comparable to the QUS Sharpe Ratio of 2.27. 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.

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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.

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Drawdown Indicators

FDRRQUSDifference

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

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.96%

-3.66%

-0.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.14%

1.53%

+0.61%

Volatility

FDRR vs. QUS - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) has a higher volatility of 3.41% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.76%. 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.

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Volatility by Period

FDRRQUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

2.76%

+0.65%

Volatility (6M)

Calculated over the trailing 6-month period

8.97%

7.06%

+1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

11.42%

9.21%

+2.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.01%

14.33%

+0.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.80%

16.40%

+0.40%

FDRR vs. QUS - Expense Ratio Comparison

Both FDRR and QUS have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FDRR vs. QUS - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.02%, more than QUS's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
FDRR
Fidelity Dividend ETF for Rising Rates		2.02%2.21%2.61%2.93%2.75%2.09%2.85%2.89%3.20%2.89%0.61%0.00%
QUS
State Street SPDR MSCI USA StrategicFactors ETF		1.25%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

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.

FDRR has higher volatility (3.41%) compared to QUS (2.76%). In terms of maximum drawdown, FDRR dropped -36.52% vs QUS's -33.78%.

On 5-year performance, FDRR leads with 13.18% vs 11.08% for QUS. Both ETFs have the same 0.15% expense ratio. On volatility, QUS has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FDRR has performed better with a 13.18% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FDRR and QUS have the same expense ratio: 0.15% per year.

FDRR has the higher dividend yield at 2.02%, compared with 1.25% for QUS.

FDRR tracks Fidelity Dividend Index for Rising Rates, while QUS tracks MSCI USA Factor Mix A-Series Capped Index. They also come from different issuers: Fidelity and State Street.

FDRR currently has the higher Sharpe Ratio (2.54 vs 2.27), 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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