LAES vs. QBTS

Last updated Jun 9, 2026

LAES (SEALSQ Corp) and QBTS (D-Wave Quantum Inc) are both stocks. Both are in the Technology sector — LAES in Semiconductors, QBTS in Computer Hardware. Over the past 3 years, LAES returned -31.28%/yr vs 125.25%/yr for QBTS. At a 0.36 correlation, their price movements are largely independent.

Performance

LAES vs. QBTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEALSQ Corp (LAES) 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, LAES achieves a -14.81% return, which is significantly lower than QBTS's -1.22% return.

LAES

• 1D: 0.63%
• 1M: 10.27%
• YTD: -14.81%
• 6M: -34.42%
• 1Y: -6.94%
• 3Y*: -31.28%
• 5Y*: —
• 10Y*: —

QBTS

• 1D: 8.30%
• 1M: 14.44%
• YTD: -1.22%
• 6M: -9.18%
• 1Y: 38.72%
• 3Y*: 125.25%
• 5Y*: —
• 10Y*: —

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

LAES vs. QBTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LAES SEALSQ Corp	-14.81%	-38.54%	380.47%	-92.82%
QBTS D-Wave Quantum Inc	-1.22%	211.31%	854.44%	-12.86%

Correlation

The correlation between LAES and QBTS is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since May 24, 2023	0.36

Over the past year, LAES and QBTS have become more correlated (0.63) than their long-term average of 0.36, meaning their price movements have been converging.

Fundamentals

EPS LAES : -$0.43 QBTS : -$1.08
PS Ratio LAES : 10.60 QBTS : 704.19
Total Revenue (TTM) LAES : $35.37M QBTS : $12.44M
Gross Profit (TTM) LAES : $13.21M QBTS : $8.25M
EBITDA (TTM) LAES : -$41.81M QBTS : -$399.03M

Return for Risk

LAES vs. QBTS — Risk / Return Rank

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

LAES

LAES Risk / Return Rank: 43
LAES Sharpe Ratio Rank: 40
LAES Sortino Ratio Rank: 50
LAES Omega Ratio Rank: 47
LAES Calmar Ratio Rank: 39
LAES Martin Ratio Rank: 39

QBTS

QBTS Risk / Return Rank: 57
QBTS Sharpe Ratio Rank: 55
QBTS Sortino Ratio Rank: 65
QBTS Omega Ratio Rank: 58
QBTS Calmar Ratio Rank: 55
QBTS Martin Ratio Rank: 53

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.

LAES vs. QBTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEALSQ Corp (LAES) 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.

	LAES	QBTS	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	0.36	-0.42
Sortino ratio: Return per unit of downside risk	0.78	1.39	-0.61
Omega ratio: Gain probability vs. loss probability	1.08	1.15	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.10	0.55	-0.64
Martin ratio: Return relative to average drawdown	-0.16	0.96	-1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LAES vs. QBTS - Sharpe Ratio Comparison

The current LAES Sharpe Ratio is -0.06, which is lower than the QBTS Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of LAES 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.

Sharpe Ratios by Period

	LAES	QBTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	0.36	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.28	0.19	-0.46

Drawdowns

LAES vs. QBTS - Drawdown Comparison

The maximum LAES drawdown since its inception was -98.44%, roughly equal to the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for LAES and QBTS.

Drawdown Indicators

	LAES	QBTS	Difference
Max Drawdown Largest peak-to-trough decline	-98.44%	-96.67%	-1.77%
Max Drawdown (1Y) Largest decline over 1 year	-72.68%	-71.01%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-98.07%	-79.17%	-18.90%
Current Drawdown Current decline from peak	-85.34%	-42.32%	-43.02%
Average Drawdown Average peak-to-trough decline	-84.70%	-65.80%	-18.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.96%	40.50%	+2.46%

Volatility

LAES vs. QBTS - Volatility Comparison

The current volatility for SEALSQ Corp (LAES) is 28.36%, while D-Wave Quantum Inc (QBTS) has a volatility of 42.76%. This indicates that LAES 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

	LAES	QBTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.36%	42.76%	-14.40%
Volatility (6M) Calculated over the trailing 6-month period	66.00%	76.88%	-10.88%
Volatility (1Y) Calculated over the trailing 1-year period	110.53%	108.49%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	170.27%	151.19%	+19.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	170.27%	151.19%	+19.08%

Dividends

LAES vs. QBTS - Dividend Comparison

Neither LAES nor QBTS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both LAES and QBTS in my portfolio?

LAES and QBTS have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LAES or QBTS?

QBTS has higher volatility (42.76%) compared to LAES (28.36%). In terms of maximum drawdown, LAES dropped -98.44% vs QBTS's -96.67%.

Which has better risk-adjusted returns?

QBTS currently has the higher Sharpe Ratio (0.36 vs -0.06), 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.