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IUS vs. QUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUS vs. QUS

Last updated Aug 4, 2026
Documentation

IUS (Invesco RAFI Strategic US ETF) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds - IUS tracks the Invesco Strategic US Index while QUS tracks the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 5 years, IUS returned 14.64%/yr vs 10.91%/yr for QUS. Their correlation of 0.88 means they have usually moved in the same direction. IUS charges 0.19%/yr vs 0.15%/yr for QUS.

Performance

IUS vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI Strategic US ETF (IUS) and State Street SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IUS achieves a 20.93% return, which is significantly higher than QUS's 10.23% return.

IUS

1D
1.02%
1M
3.33%
6M
15.45%
YTD
20.93%
1Y
36.15%
3Y*
20.44%
5Y*
14.64%
10Y*
—
ALL TIME*
15.64%

QUS

1D
0.83%
1M
1.29%
6M
7.60%
YTD
10.23%
1Y
19.80%
3Y*
17.10%
5Y*
10.91%
10Y*
13.54%
ALL TIME*
12.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IUS

Invesco RAFI Strategic US ETF
$4.63M$3.51M$3.40M

QUS

State Street SPDR MSCI USA StrategicFactors ETF
$3.01M$4.81M$3.43M

IUS vs. QUS - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IUS
Invesco RAFI Strategic US ETF		20.93%16.94%16.51%20.79%-8.34%32.17%15.09%29.34%-12.28%
QUS
State Street SPDR MSCI USA StrategicFactors ETF		10.23%14.13%18.99%21.78%-14.15%26.72%12.40%32.45%-10.97%

Correlation

The correlation between IUS and QUS is 0.90, 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.

0.90

Correlation (3Y)
Balances recent behavior with more history.

0.93

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.94

Correlation (All Time)
Calculated using the full available price history since Sep 12, 2018

0.88

The correlation between IUS and QUS has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

IUS vs. QUS - Sectors Allocation Comparison

Sectors
IUS
QUS

Technology

21.7%
28.4%

Healthcare

15.4%
14.4%

Communication Services

11.2%
8.2%

Consumer Cyclical

11.2%
5.7%

Financial Services

9.6%
15.7%

Industrials

9.0%
8.1%

Energy

8.5%
3.3%

Consumer Defensive

7.6%
8.3%

Basic Materials

3.1%
2.2%

Utilities

1.4%
3.9%

Real Estate

0.6%
1.6%

Technology

IUS
21.7%
QUS
28.4%

Healthcare

IUS
15.4%
QUS
14.4%

Communication Services

IUS
11.2%
QUS
8.2%

Consumer Cyclical

IUS
11.2%
QUS
5.7%

Financial Services

IUS
9.6%
QUS
15.7%

Industrials

IUS
9.0%
QUS
8.1%

Energy

IUS
8.5%
QUS
3.3%

Consumer Defensive

IUS
7.6%
QUS
8.3%

Basic Materials

IUS
3.1%
QUS
2.2%

Utilities

IUS
1.4%
QUS
3.9%

Real Estate

IUS
0.6%
QUS
1.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco RAFI Strategic US ETF

State Street SPDR MSCI USA StrategicFactors ETF

Often compared with IUS:
IUS vs. EPSIUS vs. BSIIXIUS vs. IUSGIUS vs. QLVIUS vs. SCHDIUS vs. FMDEIUS vs. XLK
Often compared with QUS:
QUS vs. IVVQUS vs. QUALQUS vs. JQUAQUS vs. SPYQUS vs. VOOQUS vs. DGTQUS vs. BERZ

Return for Risk

IUS vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IUS
IUS Risk / Return Rank: 9696
Overall Rank
IUS Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
IUS Sortino Ratio Rank: 9696
Sortino Ratio Rank
IUS Omega Ratio Rank: 9696
Omega Ratio Rank
IUS Calmar Ratio Rank: 9696
Calmar Ratio Rank
IUS Martin Ratio Rank: 9696
Martin Ratio Rank
QUS
QUS Risk / Return Rank: 8585
Overall Rank
QUS Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 8888
Sortino Ratio Rank
QUS Omega Ratio Rank: 8686
Omega Ratio Rank
QUS Calmar Ratio Rank: 7878
Calmar Ratio Rank
QUS Martin Ratio Rank: 8686
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IUS vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI Strategic US ETF (IUS) and State Street SPDR MSCI USA StrategicFactors ETF (QUS). 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.

IUSQUSDifference
Sharpe ratioReturn per unit of total volatility
3.43
2.16

+1.27

Sortino ratioReturn per unit of downside risk
4.66
3.05

+1.61

Omega ratioGain probability vs. loss probability

1.64

1.39

+0.25

Calmar ratioReturn relative to maximum drawdown

5.91

2.90

+3.00

Martin ratioReturn relative to average drawdown

25.15

12.95

+12.20

IUS vs. QUS - Sharpe Ratio Comparison

The current IUS Sharpe Ratio is 3.43, which is higher than the QUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of IUS and QUS, 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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Drawdowns

IUS vs. QUS - Drawdown Comparison

The maximum IUS drawdown since its inception was -34.67%, roughly equal to the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for IUS and QUS.

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Drawdown Indicators

IUSQUSDifference

Max Drawdown

Largest peak-to-trough decline

-34.67%

-33.78%

-0.89%

Max Drawdown (1Y)

Largest decline over 1 year

-6.15%

-6.85%

+0.70%

Max Drawdown (3Y)

Largest decline over 3 years

-15.61%

-13.94%

-1.67%

Max Drawdown (5Y)

Largest decline over 5 years

-18.72%

-22.30%

+3.58%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.78%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.80%

-3.66%

-0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.44%

1.53%

-0.09%

Volatility

IUS vs. QUS - Volatility Comparison

Invesco RAFI Strategic US ETF (IUS) has a higher volatility of 2.60% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.42%. This indicates that IUS's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSQUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.60%

2.42%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

7.92%

6.97%

+0.95%

Volatility (1Y)

Calculated over the trailing 1-year period

10.60%

9.22%

+1.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.99%

14.32%

+0.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.92%

16.40%

+1.52%

IUS vs. QUS - Expense Ratio Comparison

IUS has a 0.19% expense ratio, which is higher than QUS's 0.15% 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

IUS vs. QUS - Dividend Comparison

IUS's dividend yield for the trailing twelve months is around 1.23%, less than QUS's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
IUS
Invesco RAFI Strategic US ETF		1.23%1.48%1.52%1.72%1.78%1.46%1.74%1.77%0.73%0.00%0.00%0.00%
QUS
State Street SPDR MSCI USA StrategicFactors ETF		1.27%1.38%1.49%1.57%1.68%1.27%1.73%1.81%2.12%1.86%2.07%1.48%

Frequently Asked Questions

With a correlation of 0.90, IUS and QUS 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.

IUS has higher volatility (2.60%) compared to QUS (2.42%). In terms of maximum drawdown, IUS dropped -34.67% vs QUS's -33.78%.

On 5-year performance, IUS leads with 14.64% vs 10.91% for QUS. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IUS has performed better with a 14.64% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUS is cheaper with a 0.15% expense ratio, compared with 0.19% for IUS.

QUS has the higher dividend yield at 1.27%, compared with 1.23% for IUS.

IUS tracks Invesco Strategic US Index, while QUS tracks MSCI USA Factor Mix A-Series Capped Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.19% for IUS and 0.15% for QUS.

IUS currently has the higher Sharpe Ratio (3.43 vs 2.16), 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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