FQAL vs. SPHQ
Compare and contrast key facts about Fidelity Quality Factor ETF (FQAL) and Invesco S&P 500® Quality ETF (SPHQ).
FQAL and SPHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FQAL is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Quality Factor Index. It was launched on Sep 12, 2016. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 High Quality Rankings Index. It was launched on Dec 6, 2005. Both FQAL and SPHQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FQAL or SPHQ.
Key characteristics
| FQAL | SPHQ | |
|---|---|---|
| YTD Return | 5.59% | 9.40% |
| 1Y Return | 24.47% | 27.75% |
| 3Y Return (Ann) | 7.64% | 10.63% |
| 5Y Return (Ann) | 12.01% | 14.11% |
| Sharpe Ratio | 2.05 | 2.27 |
| Daily Std Dev | 11.36% | 11.76% |
| Max Drawdown | -33.71% | -57.83% |
| Current Drawdown | -2.92% | -2.51% |
Correlation
The correlation between FQAL and SPHQ is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FQAL vs. SPHQ - Performance Comparison
In the year-to-date period, FQAL achieves a 5.59% return, which is significantly lower than SPHQ's 9.40% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FQAL vs. SPHQ - Expense Ratio Comparison
FQAL has a 0.29% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Risk-Adjusted Performance
FQAL vs. SPHQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Quality Factor ETF (FQAL) and Invesco S&P 500® Quality ETF (SPHQ). 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.
Dividends
FQAL vs. SPHQ - Dividend Comparison
FQAL's dividend yield for the trailing twelve months is around 1.22%, less than SPHQ's 1.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FQAL Fidelity Quality Factor ETF | 1.22% | 1.35% | 1.52% | 1.17% | 1.46% | 1.55% | 1.73% | 1.53% | 0.43% | 0.00% | 0.00% | 0.00% |
SPHQ Invesco S&P 500® Quality ETF | 1.32% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% | 1.66% | 1.99% |
Drawdowns
FQAL vs. SPHQ - Drawdown Comparison
The maximum FQAL drawdown since its inception was -33.71%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for FQAL and SPHQ. For additional features, visit the drawdowns tool.
Volatility
FQAL vs. SPHQ - Volatility Comparison
The current volatility for Fidelity Quality Factor ETF (FQAL) is 4.04%, while Invesco S&P 500® Quality ETF (SPHQ) has a volatility of 4.46%. This indicates that FQAL experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.