FUQIX vs. QUAL
FUQIX (Fidelity SAI U.S. Quality Index Fund) and QUAL (iShares MSCI USA Quality Factor ETF) are both Quality Factor funds. Over the past 10 years, FUQIX returned 15.88%/yr vs 14.15%/yr for QUAL. Their 0.95 correlation means they have historically moved very closely together. FUQIX charges 0.10%/yr vs 0.15%/yr for QUAL.
Performance
FUQIX vs. QUAL - Performance Comparison
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Returns By Period
In the year-to-date period, FUQIX achieves a 9.35% return, which is significantly lower than QUAL's 10.86% return. Over the past 10 years, FUQIX has outperformed QUAL with an annualized return of 15.88%, while QUAL has yielded a comparatively lower 14.15% annualized return.
FUQIX
- 1D
- 1.00%
- 1M
- -0.15%
- 6M
- 9.63%
- YTD
- 9.35%
- 1Y
- 18.96%
- 3Y*
- 18.99%
- 5Y*
- 12.59%
- 10Y*
- 15.88%
- ALL TIME*
- 15.48%
QUAL
- 1D
- 0.18%
- 1M
- 0.41%
- 6M
- 8.77%
- YTD
- 10.86%
- 1Y
- 21.43%
- 3Y*
- 17.38%
- 5Y*
- 11.11%
- 10Y*
- 14.15%
- ALL TIME*
- 13.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $216.39M | $244.32M | $382.94M |
FUQIX vs. QUAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FUQIX Fidelity SAI U.S. Quality Index Fund | 9.35% | 16.76% | 24.32% | 29.63% | -18.09% | 28.28% | 20.67% | 34.66% | -3.39% | 25.77% |
QUAL iShares MSCI USA Quality Factor ETF | 10.86% | 12.65% | 22.29% | 30.88% | -20.50% | 26.94% | 17.04% | 33.89% | -5.70% | 22.26% |
Correlation
The correlation between FUQIX and QUAL is 0.94, 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. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2015 | 0.95 |
The correlation between FUQIX and QUAL has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
FUQIX vs. QUAL — Risk / Return Rank
FUQIX
QUAL
FUQIX vs. QUAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI U.S. Quality Index Fund (FUQIX) and iShares MSCI USA Quality Factor ETF (QUAL). 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.
| FUQIX | QUAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.25 | -0.85 |
| Martin ratioReturn relative to average drawdown | 5.58 | 10.08 | -4.50 |
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Drawdowns
FUQIX vs. QUAL - Drawdown Comparison
The maximum FUQIX drawdown since its inception was -31.19%, smaller than the maximum QUAL drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for FUQIX and QUAL.
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Drawdown Indicators
| FUQIX | QUAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -34.06% | +2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -9.03% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -17.86% | -18.00% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -24.96% | -28.23% | +3.27% |
Max Drawdown (10Y)Largest decline over 10 years | -31.19% | -34.06% | +2.87% |
Current DrawdownCurrent decline from peak | -1.10% | -0.61% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -4.07% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 2.01% | +1.07% |
Volatility
FUQIX vs. QUAL - Volatility Comparison
Fidelity SAI U.S. Quality Index Fund (FUQIX) and iShares MSCI USA Quality Factor ETF (QUAL) have volatilities of 2.99% and 2.88%, 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.
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Volatility by Period
| FUQIX | QUAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 2.88% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 9.72% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 12.33% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 17.38% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 18.09% | +0.16% |
FUQIX vs. QUAL - Expense Ratio Comparison
FUQIX has a 0.10% expense ratio, which is lower than QUAL's 0.15% 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
FUQIX vs. QUAL - Dividend Comparison
FUQIX's dividend yield for the trailing twelve months is around 3.32%, more than QUAL's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FUQIX Fidelity SAI U.S. Quality Index Fund | 3.32% | 3.63% | 12.80% | 2.38% | 1.42% | 8.55% | 9.46% | 13.68% | 2.41% | 3.79% | 1.57% | 0.29% |
QUAL iShares MSCI USA Quality Factor ETF | 0.86% | 0.94% | 1.02% | 1.23% | 1.59% | 1.20% | 1.39% | 1.60% | 2.00% | 1.76% | 1.96% | 1.63% |
Frequently Asked Questions
With a correlation of 0.94, FUQIX and QUAL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FUQIX has higher volatility (2.99%) compared to QUAL (2.88%). In terms of maximum drawdown, FUQIX dropped -31.19% vs QUAL's -34.06%.
QUAL currently has the higher Sharpe Ratio (1.65 vs 1.30), 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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