HAGHY vs. QBTS

Last updated Jun 13, 2026

HAGHY (Hensoldt AG) and QBTS (D-Wave Quantum Inc) are both stocks. HAGHY operates in Aerospace & Defense (Industrials), while QBTS operates in Computer Hardware (Technology). Over the past 3 years, HAGHY returned 41.89%/yr vs 123.62%/yr for QBTS. At a 0.06 correlation, their price movements are largely independent.

Performance

HAGHY vs. QBTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hensoldt AG (HAGHY) and D-Wave Quantum Inc (QBTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAGHY achieves a 1.44% return, which is significantly higher than QBTS's -10.63% return.

HAGHY

• 1D: -5.73%
• 1M: 0.63%
• YTD: 1.44%
• 6M: 2.37%
• 1Y: -19.30%
• 3Y*: 41.89%
• 5Y*: —
• 10Y*: —

QBTS

• 1D: -1.89%
• 1M: 9.00%
• YTD: -10.63%
• 6M: -10.46%
• 1Y: 47.17%
• 3Y*: 123.62%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HAGHY vs. QBTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HAGHY Hensoldt AG	1.44%	144.40%	31.10%	15.83%	-2.05%
QBTS D-Wave Quantum Inc	-10.63%	211.31%	854.44%	-38.88%	-83.96%

Correlation

The correlation between HAGHY and QBTS is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	0.06

Fundamentals

Market Cap HAGHY : $20.71B QBTS : $8.59B
EPS HAGHY : €0.08 QBTS : -$1.08
PS Ratio HAGHY : 3.80 QBTS : 637.12
PB Ratio HAGHY : 18.28 QBTS : 7.64
Total Revenue (TTM) HAGHY : €2.55B QBTS : $12.44M
Gross Profit (TTM) HAGHY : €535.68M QBTS : $8.25M
EBITDA (TTM) HAGHY : €413.05M QBTS : -$399.03M

Return for Risk

HAGHY vs. QBTS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HAGHY

HAGHY Risk / Return Rank: 28
HAGHY Sharpe Ratio Rank: 27
HAGHY Sortino Ratio Rank: 28
HAGHY Omega Ratio Rank: 28
HAGHY Calmar Ratio Rank: 27
HAGHY Martin Ratio Rank: 29

QBTS

QBTS Risk / Return Rank: 60
QBTS Sharpe Ratio Rank: 58
QBTS Sortino Ratio Rank: 67
QBTS Omega Ratio Rank: 62
QBTS Calmar Ratio Rank: 58
QBTS Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HAGHY vs. QBTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hensoldt AG (HAGHY) and D-Wave Quantum Inc (QBTS). 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.

	HAGHY	QBTS	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	0.44	-0.79
Sortino ratio: Return per unit of downside risk	-0.16	1.48	-1.64
Omega ratio: Gain probability vs. loss probability	0.98	1.16	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.45	0.67	-1.12
Martin ratio: Return relative to average drawdown	-0.74	1.16	-1.91

HAGHY vs. QBTS - Sharpe Ratio Comparison

The current HAGHY Sharpe Ratio is -0.35, which is lower than the QBTS Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of HAGHY and QBTS, 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

HAGHY vs. QBTS - Drawdown Comparison

The maximum HAGHY drawdown since its inception was -42.91%, smaller than the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for HAGHY and QBTS.

Drawdown Indicators

	HAGHY	QBTS	Difference
Max Drawdown Largest peak-to-trough decline	-42.91%	-96.67%	+53.76%
Max Drawdown (1Y) Largest decline over 1 year	-42.91%	-71.01%	+28.10%
Max Drawdown (3Y) Largest decline over 3 years	-42.91%	-79.17%	+36.26%
Current Drawdown Current decline from peak	-34.77%	-47.81%	+13.04%
Average Drawdown Average peak-to-trough decline	-20.42%	-65.66%	+45.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.00%	40.64%	-14.64%

Volatility

HAGHY vs. QBTS - Volatility Comparison

The current volatility for Hensoldt AG (HAGHY) is 17.33%, while D-Wave Quantum Inc (QBTS) has a volatility of 42.66%. This indicates that HAGHY experiences smaller price fluctuations and is considered to be less risky than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAGHY	QBTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.33%	42.66%	-25.33%
Volatility (6M) Calculated over the trailing 6-month period	40.88%	76.89%	-36.01%
Volatility (1Y) Calculated over the trailing 1-year period	55.56%	108.46%	-52.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.61%	150.99%	-94.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.61%	150.99%	-94.38%

Dividends

HAGHY vs. QBTS - Dividend Comparison

HAGHY's dividend yield for the trailing twelve months is around 0.74%, while QBTS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
HAGHY Hensoldt AG	0.74%	0.63%	1.20%	1.19%	1.10%
QBTS D-Wave Quantum Inc	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both HAGHY and QBTS in my portfolio?

HAGHY and QBTS have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAGHY or QBTS?

QBTS has higher volatility (42.66%) compared to HAGHY (17.33%). In terms of maximum drawdown, HAGHY dropped -42.91% vs QBTS's -96.67%.

Which has better risk-adjusted returns?

QBTS currently has the higher Sharpe Ratio (0.44 vs -0.35), 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.