FQAL vs. GQI

Last updated Aug 2, 2026

FQAL (Fidelity Quality Factor ETF) and GQI (Natixis Gateway Quality Income ETF) are both Quality Factor funds. FQAL is passively managed, while GQI is actively managed. Over the past year, FQAL returned 18.77% vs 22.33% for GQI. Their correlation of 0.90 means they have usually moved in the same direction. FQAL charges 0.29%/yr vs 0.34%/yr for GQI.

Performance

FQAL vs. GQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Quality Factor ETF (FQAL) and Natixis Gateway Quality Income ETF (GQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FQAL having a 9.52% return and GQI slightly higher at 9.82%.

FQAL

• 1D: 0.48%
• 1M: 0.93%
• 6M: 7.92%
• YTD: 9.52%
• 1Y: 18.77%
• 3Y*: 17.90%
• 5Y*: 11.43%
• 10Y*: —
• ALL TIME*: 14.45%

GQI

• 1D: 0.91%
• 1M: 1.51%
• 6M: 7.93%
• YTD: 9.82%
• 1Y: 22.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.45%

*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)
FQAL Fidelity Quality Factor ETF	$3.79M	$3.24M	$3.26M
GQI Natixis Gateway Quality Income ETF	$866.96K	$1.04M	$2.05M

FQAL vs. GQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FQAL Fidelity Quality Factor ETF	9.52%	16.93%	21.92%	2.46%
GQI Natixis Gateway Quality Income ETF	9.82%	15.36%	15.99%	1.60%

Correlation

The correlation between FQAL and GQI is 0.89, 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.	0.89
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.90

The correlation between FQAL and GQI has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

FQAL vs. GQI - Sectors Allocation Comparison

Sectors	FQAL	GQI
Technology	36.7%	37.9%
Financial Services	12.0%	9.9%
Consumer Cyclical	9.6%	11.0%
Industrials	9.4%	8.3%
Communication Services	9.3%	10.3%
Healthcare	9.1%	10.9%
Consumer Defensive	4.4%	6.1%
Energy	3.3%	3.9%
Basic Materials	2.1%	0.7%
Real Estate	2.1%	0.4%
Utilities	2.0%	0.6%

Return for Risk

FQAL vs. GQI — Risk / Return Rank

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

FQAL

FQAL Risk / Return Rank: 66
FQAL Sharpe Ratio Rank: 66
FQAL Sortino Ratio Rank: 66
FQAL Omega Ratio Rank: 65
FQAL Calmar Ratio Rank: 60
FQAL Martin Ratio Rank: 74

GQI

GQI Risk / Return Rank: 86
GQI Sharpe Ratio Rank: 87
GQI Sortino Ratio Rank: 87
GQI Omega Ratio Rank: 86
GQI Calmar Ratio Rank: 81
GQI Martin Ratio Rank: 91

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.

FQAL vs. GQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Quality Factor ETF (FQAL) and Natixis Gateway Quality Income ETF (GQI). 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.

	FQAL	GQI	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.07	-0.56
Sortino ratio: Return per unit of downside risk	2.16	2.92	-0.75
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	2.08	2.98	-0.90
Martin ratio: Return relative to average drawdown	9.21	15.46	-6.26

FQAL vs. GQI - Sharpe Ratio Comparison

The current FQAL Sharpe Ratio is 1.51, which is comparable to the GQI Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of FQAL and GQI, 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

FQAL vs. GQI - Drawdown Comparison

The maximum FQAL drawdown since its inception was -33.71%, which is greater than GQI's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for FQAL and GQI.

Drawdown Indicators

	FQAL	GQI	Difference
Max Drawdown Largest peak-to-trough decline	-33.71%	-16.56%	-17.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-6.96%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-16.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.50%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.12%	-0.30%
Average Drawdown Average peak-to-trough decline	-4.53%	-1.62%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.34%	+0.56%

Volatility

FQAL vs. GQI - Volatility Comparison

Fidelity Quality Factor ETF (FQAL) and Natixis Gateway Quality Income ETF (GQI) have volatilities of 2.43% and 2.49%, 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

	FQAL	GQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.43%	2.49%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.94%	7.65%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.60%	9.99%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	13.01%	+3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	13.01%	+4.48%

FQAL vs. GQI - Expense Ratio Comparison

FQAL has a 0.29% expense ratio, which is lower than GQI's 0.34% expense ratio.

Dividends

FQAL vs. GQI - Dividend Comparison

FQAL's dividend yield for the trailing twelve months is around 1.15%, less than GQI's 8.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FQAL Fidelity Quality Factor ETF	1.15%	1.12%	1.20%	1.35%	1.52%	1.17%	1.46%	1.55%	1.73%	1.53%	0.43%
GQI Natixis Gateway Quality Income ETF	7.83%	8.97%	7.77%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FQAL and GQI in my portfolio?

FQAL and GQI have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FQAL or GQI?

GQI has higher volatility (2.49%) compared to FQAL (2.43%). In terms of maximum drawdown, FQAL dropped -33.71% vs GQI's -16.56%.

Which ETF is better, FQAL or GQI?

On 1-year performance, GQI leads with 22.33% vs 18.77% for FQAL. On fees, FQAL is cheaper at 0.29% 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, FQAL or GQI?

Over the 1-year period, GQI has performed better with a 22.33% return vs 18.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FQAL or GQI?

FQAL is cheaper with a 0.29% expense ratio, compared with 0.34% for GQI.

Which ETF pays a higher dividend yield, FQAL or GQI?

GQI has the higher dividend yield at 7.83%, compared with 1.15% for FQAL.

What is the main difference between FQAL and GQI?

They also come from different issuers: Fidelity and Natixis. Their fees differ too: 0.29% for FQAL and 0.34% for GQI.

Which has better risk-adjusted returns?

GQI currently has the higher Sharpe Ratio (2.07 vs 1.51), 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.