FLRG vs. IUS

Last updated Aug 3, 2026

FLRG (Fidelity U.S. Multifactor ETF) and IUS (Invesco RAFI Strategic US ETF) are both Large Cap Blend Equities funds - FLRG tracks the Fidelity U.S. Multifactor Index while IUS tracks the Invesco Strategic US Index. Both are passively managed. Over the past 5 years, FLRG returned 11.92%/yr vs 14.35%/yr for IUS. Their correlation of 0.90 means they have usually moved in the same direction. FLRG charges 0.15%/yr vs 0.19%/yr for IUS.

Performance

FLRG vs. IUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity U.S. Multifactor ETF (FLRG) and Invesco RAFI Strategic US ETF (IUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLRG achieves a 10.29% return, which is significantly lower than IUS's 19.71% return.

FLRG

• 1D: 0.16%
• 1M: 1.69%
• 6M: 8.30%
• YTD: 10.29%
• 1Y: 17.72%
• 3Y*: 17.69%
• 5Y*: 11.92%
• 10Y*: —
• ALL TIME*: 15.43%

IUS

• 1D: 0.43%
• 1M: 2.30%
• 6M: 15.22%
• YTD: 19.71%
• 1Y: 34.78%
• 3Y*: 19.28%
• 5Y*: 14.35%
• 10Y*: —
• ALL TIME*: 15.51%

*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)
FLRG Fidelity U.S. Multifactor ETF	$441.29K	$669.16K	$816.00K
IUS Invesco RAFI Strategic US ETF	$4.30M	$3.35M	$3.41M

FLRG vs. IUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLRG Fidelity U.S. Multifactor ETF	10.29%	13.92%	23.36%	18.31%	-10.98%	29.36%	9.90%
IUS Invesco RAFI Strategic US ETF	19.71%	16.94%	16.51%	20.79%	-8.34%	32.17%	13.87%

Correlation

The correlation between FLRG and IUS is 0.84, 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.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.88
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 17, 2020	0.90

The correlation between FLRG and IUS has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

FLRG vs. IUS - Sectors Allocation Comparison

Sectors	FLRG	IUS
Technology	37.5%	21.7%
Financial Services	12.1%	9.6%
Consumer Cyclical	9.9%	11.2%
Healthcare	9.7%	15.4%
Communication Services	9.2%	11.2%
Industrials	7.7%	9.0%
Consumer Defensive	4.7%	7.6%
Energy	4.2%	8.5%
Basic Materials	2.1%	3.1%
Real Estate	2.0%	0.6%
Utilities	1.1%	1.4%

Return for Risk

FLRG vs. IUS — Risk / Return Rank

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

FLRG

FLRG Risk / Return Rank: 68
FLRG Sharpe Ratio Rank: 68
FLRG Sortino Ratio Rank: 67
FLRG Omega Ratio Rank: 67
FLRG Calmar Ratio Rank: 66
FLRG Martin Ratio Rank: 71

IUS

IUS Risk / Return Rank: 96
IUS Sharpe Ratio Rank: 97
IUS Sortino Ratio Rank: 96
IUS Omega Ratio Rank: 95
IUS Calmar Ratio Rank: 95
IUS Martin Ratio Rank: 96

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.

FLRG vs. IUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity U.S. Multifactor ETF (FLRG) and Invesco RAFI Strategic US ETF (IUS). 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.

	FLRG	IUS	Difference
Sharpe ratio: Return per unit of total volatility	1.54	3.11	-1.56
Sortino ratio: Return per unit of downside risk	2.19	4.22	-2.03
Omega ratio: Gain probability vs. loss probability	1.28	1.57	-0.29
Calmar ratio: Return relative to maximum drawdown	2.29	5.38	-3.09
Martin ratio: Return relative to average drawdown	8.67	22.90	-14.23

FLRG vs. IUS - Sharpe Ratio Comparison

The current FLRG Sharpe Ratio is 1.54, which is lower than the IUS Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of FLRG and IUS, 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

FLRG vs. IUS - Drawdown Comparison

The maximum FLRG drawdown since its inception was -19.64%, smaller than the maximum IUS drawdown of -34.67%. Use the drawdown chart below to compare losses from any high point for FLRG and IUS.

Drawdown Indicators

	FLRG	IUS	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-34.67%	+15.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-6.15%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-16.53%	-15.61%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	-18.72%	-0.92%
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-3.67%	-3.80%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	1.44%	+0.45%

Volatility

FLRG vs. IUS - Volatility Comparison

Fidelity U.S. Multifactor ETF (FLRG) and Invesco RAFI Strategic US ETF (IUS) have volatilities of 2.52% and 2.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRG	IUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	2.51%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.18%	7.88%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.62%	10.67%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.20%	14.99%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	17.92%	-2.99%

FLRG vs. IUS - Expense Ratio Comparison

FLRG has a 0.15% expense ratio, which is lower than IUS's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLRG vs. IUS - Dividend Comparison

FLRG's dividend yield for the trailing twelve months is around 1.37%, more than IUS's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLRG Fidelity U.S. Multifactor ETF	1.37%	1.42%	1.42%	1.39%	1.62%	1.36%	1.47%	0.00%	0.00%
IUS Invesco RAFI Strategic US ETF	1.24%	1.48%	1.52%	1.72%	1.78%	1.46%	1.74%	1.77%	0.73%

Frequently Asked Questions

Can I hold both FLRG and IUS in my portfolio?

FLRG and IUS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLRG or IUS?

FLRG has higher volatility (2.52%) compared to IUS (2.51%). In terms of maximum drawdown, FLRG dropped -19.64% vs IUS's -34.67%.

Which ETF is better, FLRG or IUS?

On 5-year performance, IUS leads with 14.35% vs 11.92% for FLRG. On fees, FLRG is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLRG or IUS?

Over the 5-year period, IUS has performed better with a 14.35% return vs 11.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLRG or IUS?

FLRG is cheaper with a 0.15% expense ratio, compared with 0.19% for IUS.

Which ETF pays a higher dividend yield, FLRG or IUS?

FLRG has the higher dividend yield at 1.37%, compared with 1.24% for IUS.

What is the main difference between FLRG and IUS?

FLRG tracks Fidelity U.S. Multifactor Index, while IUS tracks Invesco Strategic US Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.15% for FLRG and 0.19% for IUS.

Which has better risk-adjusted returns?

IUS currently has the higher Sharpe Ratio (3.11 vs 1.54), 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.