IQSM vs. TUSA
Compare and contrast key facts about IQ Candriam U.S. Mid Cap Equity ETF (IQSM) and First Trust Total US Market AlphaDEX ETF (TUSA).
IQSM and TUSA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IQSM is a passively managed fund by IndexIQ that tracks the performance of the IQ Candriam ESG U.S. Mid Cap Equity Index - Benchmark TR Net. It was launched on Oct 24, 2022. TUSA is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Total US Market Index. It was launched on Dec 5, 2006. Both IQSM and TUSA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IQSM vs. TUSA - Performance Comparison
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IQSM vs. TUSA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IQSM IQ Candriam U.S. Mid Cap Equity ETF | 1.34% | 7.97% | 9.15% | 15.82% | 2.29% |
TUSA First Trust Total US Market AlphaDEX ETF | 7.05% | 13.64% | 11.12% | 11.75% | 3.29% |
Returns By Period
In the year-to-date period, IQSM achieves a 1.34% return, which is significantly lower than TUSA's 7.05% return.
IQSM
- 1D
- 0.82%
- 1M
- -5.15%
- YTD
- 1.34%
- 6M
- 3.59%
- 1Y
- 15.47%
- 3Y*
- 10.22%
- 5Y*
- —
- 10Y*
- —
TUSA
- 1D
- -0.28%
- 1M
- -4.01%
- YTD
- 7.05%
- 6M
- 9.20%
- 1Y
- 19.97%
- 3Y*
- 14.76%
- 5Y*
- 7.51%
- 10Y*
- 11.03%
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IQSM vs. TUSA - Expense Ratio Comparison
IQSM has a 0.15% expense ratio, which is lower than TUSA's 0.70% expense ratio.
Return for Risk
IQSM vs. TUSA — Risk / Return Rank
IQSM
TUSA
IQSM vs. TUSA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IQ Candriam U.S. Mid Cap Equity ETF (IQSM) and First Trust Total US Market AlphaDEX ETF (TUSA). 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.
| IQSM | TUSA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 1.12 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.20 | 1.69 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.56 | -0.42 |
Martin ratioReturn relative to average drawdown | 4.83 | 6.97 | -2.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IQSM | TUSA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 1.12 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.43 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.32 | +0.27 |
Correlation
The correlation between IQSM and TUSA is 0.85, 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.
Dividends
IQSM vs. TUSA - Dividend Comparison
IQSM's dividend yield for the trailing twelve months is around 1.17%, less than TUSA's 1.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQSM IQ Candriam U.S. Mid Cap Equity ETF | 1.17% | 1.18% | 1.22% | 1.11% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TUSA First Trust Total US Market AlphaDEX ETF | 1.65% | 1.59% | 2.05% | 2.15% | 2.31% | 0.72% | 0.99% | 1.13% | 1.14% | 0.79% | 1.24% | 0.95% |
Drawdowns
IQSM vs. TUSA - Drawdown Comparison
The maximum IQSM drawdown since its inception was -23.66%, smaller than the maximum TUSA drawdown of -56.53%. Use the drawdown chart below to compare losses from any high point for IQSM and TUSA.
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Drawdown Indicators
| IQSM | TUSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.66% | -56.53% | +32.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -12.98% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.47% | — |
Current DrawdownCurrent decline from peak | -5.47% | -4.01% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -9.92% | +4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.91% | +0.39% |
Volatility
IQSM vs. TUSA - Volatility Comparison
IQ Candriam U.S. Mid Cap Equity ETF (IQSM) has a higher volatility of 6.35% compared to First Trust Total US Market AlphaDEX ETF (TUSA) at 2.78%. This indicates that IQSM's price experiences larger fluctuations and is considered to be riskier than TUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQSM | TUSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 2.78% | +3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.35% | 9.68% | +1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.51% | 17.98% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 17.64% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 20.14% | -2.09% |