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IUQD.L vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUQD.L vs. SPY

Last updated Jun 5, 2026

IUQD.L (iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist)) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - IUQD.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IUQD.L returned 11.94%/yr vs 13.91%/yr for SPY. A 0.58 correlation means they provide meaningful diversification when combined. IUQD.L charges 0.20%/yr vs 0.09%/yr for SPY.

Performance

IUQD.L vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist) (IUQD.L) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IUQD.L achieves a 8.85% return, which is significantly lower than SPY's 11.33% return.

IUQD.L

1D
0.85%
1M
4.85%
YTD
8.85%
6M
9.69%
1Y
21.93%
3Y*
19.75%
5Y*
11.94%
10Y*
—

SPY

1D
0.38%
1M
4.60%
YTD
11.33%
6M
11.25%
1Y
28.50%
3Y*
22.58%
5Y*
13.91%
10Y*
15.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUQD.L vs. SPY - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IUQD.L
iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist)		8.85%12.64%22.37%30.89%-20.80%27.69%16.03%33.32%-7.48%
SPY
State Street SPDR S&P 500 ETF		11.33%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-7.30%

Correlation

The correlation between IUQD.L and SPY is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.62

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Feb 26, 2018

0.58

The correlation between IUQD.L and SPY has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.

IUQD.L vs. SPY - Sectors Allocation Comparison

Sectors
IUQD.L
SPY

Technology

36.5%
35.9%

Financial Services

11.5%
11.8%

Communication Services

11.1%
11.3%

Consumer Cyclical

9.4%
10.3%

Healthcare

9.0%
8.4%

Industrials

8.2%
7.8%

Consumer Defensive

4.9%
4.8%

Energy

4.0%
3.6%

Utilities

1.9%
2.4%

Real Estate

1.8%
1.9%

Basic Materials

1.7%
1.8%

Technology

IUQD.L
36.5%
SPY
35.9%

Financial Services

IUQD.L
11.5%
SPY
11.8%

Communication Services

IUQD.L
11.1%
SPY
11.3%

Consumer Cyclical

IUQD.L
9.4%
SPY
10.3%

Healthcare

IUQD.L
9.0%
SPY
8.4%

Industrials

IUQD.L
8.2%
SPY
7.8%

Consumer Defensive

IUQD.L
4.9%
SPY
4.8%

Energy

IUQD.L
4.0%
SPY
3.6%

Utilities

IUQD.L
1.9%
SPY
2.4%

Real Estate

IUQD.L
1.8%
SPY
1.9%

Basic Materials

IUQD.L
1.7%
SPY
1.8%

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iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist)

State Street SPDR S&P 500 ETF

Often compared with IUQD.L:
IUQD.L vs. XZEW.DEIUQD.L vs. QUALIUQD.L vs. VWRP.LIUQD.L vs. VOOIUQD.L vs. EQQQ.LIUQD.L vs. EUDV.LIUQD.L vs. JREU.L
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

IUQD.L vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUQD.L
IUQD.L Risk / Return Rank: 6161
Overall Rank
IUQD.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
IUQD.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
IUQD.L Omega Ratio Rank: 6060
Omega Ratio Rank
IUQD.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
IUQD.L Martin Ratio Rank: 6565
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7474
Overall Rank
SPY Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPY Omega Ratio Rank: 7575
Omega Ratio Rank
SPY Calmar Ratio Rank: 6666
Calmar Ratio Rank
SPY Martin Ratio Rank: 7878
Martin Ratio Rank
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.

IUQD.L vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist) (IUQD.L) and State Street SPDR S&P 500 ETF (SPY). 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.

IUQD.LSPYDifference
Sharpe ratioReturn per unit of total volatility
1.97
2.42

-0.45

Sortino ratioReturn per unit of downside risk
3.00
3.29

-0.29

Omega ratioGain probability vs. loss probability

1.36

1.44

-0.08

Calmar ratioReturn relative to maximum drawdown

2.64

3.22

-0.58

Martin ratioReturn relative to average drawdown

11.66

14.99

-3.33

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUQD.L vs. SPY - Sharpe Ratio Comparison

The current IUQD.L Sharpe Ratio is 1.97, which is comparable to the SPY Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of IUQD.L and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IUQD.LSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.97

2.42

-0.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.82

-0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.77

0.59

+0.18

Drawdowns

IUQD.L vs. SPY - Drawdown Comparison

The maximum IUQD.L drawdown since its inception was -33.83%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IUQD.L and SPY.

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Drawdown Indicators

IUQD.LSPYDifference

Max Drawdown

Largest peak-to-trough decline

-33.83%

-55.19%

+21.36%

Max Drawdown (1Y)

Largest decline over 1 year

-8.26%

-8.88%

+0.62%

Max Drawdown (3Y)

Largest decline over 3 years

-17.93%

-18.76%

+0.83%

Max Drawdown (5Y)

Largest decline over 5 years

-27.75%

-24.50%

-3.25%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.72%

—

Current Drawdown

Current decline from peak

0.00%

-0.33%

+0.33%

Average Drawdown

Average peak-to-trough decline

-5.46%

-9.05%

+3.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.88%

1.91%

-0.03%

Volatility

IUQD.L vs. SPY - Volatility Comparison

iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist) (IUQD.L) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 2.79% and 2.79%, 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

IUQD.LSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.79%

2.79%

0.00%

Volatility (6M)

Calculated over the trailing 6-month period

8.13%

8.91%

-0.78%

Volatility (1Y)

Calculated over the trailing 1-year period

11.08%

11.82%

-0.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.26%

17.05%

-0.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.56%

17.93%

-0.37%

IUQD.L vs. SPY - Expense Ratio Comparison

IUQD.L has a 0.20% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUQD.L vs. SPY - Dividend Comparison

IUQD.L's dividend yield for the trailing twelve months is around 0.67%, less than SPY's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
IUQD.L
iShares Edge MSCI USA Quality Factor UCITS ETF USD (Dist)		0.67%0.73%0.84%1.05%1.34%0.95%1.21%1.32%1.44%0.00%0.00%0.00%
SPY
State Street SPDR S&P 500 ETF		0.98%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

IUQD.L and SPY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY is cheaper with a 0.09% expense ratio, compared with 0.20% for IUQD.L.

IUQD.L is categorized as Large Cap Blend Equities, while SPY is S&P 500. IUQD.L tracks Russell 1000 TR USD, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IUQD.L and 0.09% for SPY.

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