LEAD vs. QUS

Last updated Aug 2, 2026

LEAD (Siren DIVCON Leaders Dividend ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds - LEAD tracks the Siren DIVCON Leaders Dividend Index while QUS tracks the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 10 years, LEAD returned 14.17%/yr vs 13.56%/yr for QUS. Their correlation of 0.84 means they have usually moved in the same direction. LEAD charges 0.43%/yr vs 0.15%/yr for QUS.

Performance

LEAD vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren DIVCON Leaders Dividend ETF (LEAD) and SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEAD achieves a 13.06% return, which is significantly higher than QUS's 9.32% return. Both investments have delivered pretty close results over the past 10 years, with LEAD having a 14.17% annualized return and QUS not far behind at 13.56%.

LEAD

• 1D: 0.00%
• 1M: -1.57%
• 6M: 8.09%
• YTD: 13.06%
• 1Y: 19.57%
• 3Y*: 15.45%
• 5Y*: 11.12%
• 10Y*: 14.17%
• ALL TIME*: 14.29%

QUS

• 1D: 0.33%
• 1M: 0.45%
• 6M: 7.38%
• YTD: 9.32%
• 1Y: 18.81%
• 3Y*: 16.09%
• 5Y*: 10.75%
• 10Y*: 13.56%
• ALL TIME*: 12.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QUS SPDR MSCI USA StrategicFactors ETF	$2.96M	$4.90M	$3.46M

LEAD vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEAD Siren DIVCON Leaders Dividend ETF	13.06%	15.52%	10.32%	26.25%	-18.16%	29.69%	23.41%	33.75%	-6.63%	24.89%
QUS SPDR MSCI USA StrategicFactors ETF	9.32%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	21.67%

Correlation

The correlation between LEAD and QUS is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016	0.84

The correlation between LEAD and QUS shifts across timeframes, from 0.69 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

LEAD vs. QUS - Sectors Allocation Comparison

Sectors	LEAD	QUS
Technology	41.5%	28.4%
Industrials	33.3%	8.1%
Financial Services	15.8%	15.7%
Consumer Defensive	4.0%	8.3%
Healthcare	2.1%	14.4%
Consumer Cyclical	1.8%	5.7%
Energy	1.5%	3.3%
Communication Services	0.1%	8.2%
Basic Materials	-	2.2%
Real Estate	-	1.6%
Utilities	-	3.9%

Return for Risk

LEAD vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LEAD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QUS

QUS Risk / Return Rank: 81
QUS Sharpe Ratio Rank: 83
QUS Sortino Ratio Rank: 83
QUS Omega Ratio Rank: 82
QUS Calmar Ratio Rank: 74
QUS Martin Ratio Rank: 84

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.

LEAD vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren DIVCON Leaders Dividend ETF (LEAD) and 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.

	LEAD	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.93	-0.72
Sortino ratio: Return per unit of downside risk	1.71	2.73	-1.02
Omega ratio: Gain probability vs. loss probability	1.22	1.35	-0.13
Calmar ratio: Return relative to maximum drawdown	2.27	2.60	-0.32
Martin ratio: Return relative to average drawdown	8.28	11.58	-3.30

LEAD vs. QUS - Sharpe Ratio Comparison

The current LEAD Sharpe Ratio is 1.21, which is lower than the QUS Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of LEAD 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.

Drawdowns

LEAD vs. QUS - Drawdown Comparison

The maximum LEAD drawdown since its inception was -32.19%, roughly equal to the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for LEAD and QUS.

Drawdown Indicators

	LEAD	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-32.19%	-33.78%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-8.65%	-6.85%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-13.94%	-3.92%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	-22.30%	-2.63%
Max Drawdown (10Y) Largest decline over 10 years	-32.19%	-33.78%	+1.59%
Current Drawdown Current decline from peak	-6.25%	-0.26%	-5.99%
Average Drawdown Average peak-to-trough decline	-4.41%	-3.66%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.53%	+0.84%

Volatility

LEAD vs. QUS - Volatility Comparison

Siren DIVCON Leaders Dividend ETF (LEAD) has a higher volatility of 6.62% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 2.37%. This indicates that LEAD'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.

Volatility by Period

	LEAD	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	2.37%	+4.25%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	6.94%	+6.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	9.24%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.68%	14.32%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	16.39%	+2.36%

LEAD vs. QUS - Expense Ratio Comparison

LEAD has a 0.43% expense ratio, which is higher than QUS's 0.15% expense ratio.

Dividends

LEAD vs. QUS - Dividend Comparison

LEAD has not paid dividends to shareholders, while QUS's dividend yield for the trailing twelve months is around 1.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEAD Siren DIVCON Leaders Dividend ETF	0.58%	0.70%	0.93%	1.13%	1.27%	1.79%	0.81%	1.32%	1.38%	0.97%	1.38%	0.00%
QUS SPDR MSCI USA StrategicFactors ETF	1.28%	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

Can I hold both LEAD and QUS in my portfolio?

LEAD and QUS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LEAD or QUS?

LEAD has higher volatility (6.62%) compared to QUS (2.37%). In terms of maximum drawdown, LEAD dropped -32.19% vs QUS's -33.78%.

Which ETF is better, LEAD or QUS?

On 10-year performance, LEAD leads with 14.17% vs 13.56% for QUS. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LEAD or QUS?

Over the 10-year period, LEAD has performed better with a 14.17% return vs 13.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LEAD or QUS?

QUS is cheaper with a 0.15% expense ratio, compared with 0.43% for LEAD.

Which ETF pays a higher dividend yield, LEAD or QUS?

QUS has the higher dividend yield at 1.28%, compared with 0.58% for LEAD.

What is the main difference between LEAD and QUS?

LEAD tracks Siren DIVCON Leaders Dividend Index, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). They also come from different issuers: SRN Advisors and State Street. Their fees differ too: 0.43% for LEAD and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.93 vs 1.21), 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.