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LRGF vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LRGF vs. QUAL

Last updated Aug 2, 2026
Documentation

LRGF (iShares U.S. Equity Factor ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both exchange-traded funds - LRGF is a Large Cap Blend Equities fund tracking the STOXX U.S. Equity Factor Index, while QUAL is a Quality Factor fund tracking the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 10 years, LRGF returned 13.82%/yr vs 14.15%/yr for QUAL. Their correlation of 0.92 means they have usually moved in the same direction. LRGF charges 0.08%/yr vs 0.15%/yr for QUAL.

Performance

LRGF vs. QUAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Equity Factor ETF (LRGF) and iShares MSCI USA Quality Factor ETF (QUAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, LRGF achieves a 10.17% return, which is significantly lower than QUAL's 10.86% return. Both investments have delivered pretty close results over the past 10 years, with LRGF having a 13.82% annualized return and QUAL not far ahead at 14.15%.

LRGF

1D
0.71%
1M
1.00%
6M
9.84%
YTD
10.17%
1Y
19.37%
3Y*
19.82%
5Y*
13.36%
10Y*
13.82%
ALL TIME*
12.32%

QUAL

1D
0.18%
1M
0.41%
6M
8.77%
YTD
10.86%
1Y
21.43%
3Y*
17.38%
5Y*
11.11%
10Y*
14.15%
ALL TIME*
13.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

LRGF

iShares U.S. Equity Factor ETF
$10.71M$10.50M$11.75M

QUAL

iShares MSCI USA Quality Factor ETF
$216.39M$244.32M$382.94M

LRGF vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LRGF
iShares U.S. Equity Factor ETF		10.17%16.48%26.59%25.85%-14.77%25.01%11.11%26.11%-9.66%21.13%
QUAL
iShares MSCI USA Quality Factor ETF		10.86%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-5.70%22.26%

Correlation

The correlation between LRGF and QUAL is 0.93, 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.

0.93

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

0.95

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

0.96

Correlation (10Y)
Provides a long-term view across more market conditions.

0.94

Correlation (All Time)
Calculated using the full available price history since Apr 30, 2015

0.92

The correlation between LRGF and QUAL has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

LRGF vs. QUAL - Sectors Allocation Comparison

Sectors
LRGF
QUAL

Technology

37.3%
40.2%

Financial Services

11.7%
10.9%

Consumer Cyclical

10.5%
9.0%

Communication Services

10.0%
10.3%

Healthcare

9.4%
9.2%

Industrials

8.3%
7.4%

Consumer Defensive

4.9%
4.3%

Energy

3.1%
2.9%

Utilities

2.0%
2.1%

Basic Materials

1.8%
1.9%

Real Estate

1.1%
1.7%

Technology

LRGF
37.3%
QUAL
40.2%

Financial Services

LRGF
11.7%
QUAL
10.9%

Consumer Cyclical

LRGF
10.5%
QUAL
9.0%

Communication Services

LRGF
10.0%
QUAL
10.3%

Healthcare

LRGF
9.4%
QUAL
9.2%

Industrials

LRGF
8.3%
QUAL
7.4%

Consumer Defensive

LRGF
4.9%
QUAL
4.3%

Energy

LRGF
3.1%
QUAL
2.9%

Utilities

LRGF
2.0%
QUAL
2.1%

Basic Materials

LRGF
1.8%
QUAL
1.9%

Real Estate

LRGF
1.1%
QUAL
1.7%

Compare stocks, funds, or ETFs

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

iShares U.S. Equity Factor ETF

iShares MSCI USA Quality Factor ETF

Often compared with LRGF:
LRGF vs. VOOLRGF vs. INTFLRGF vs. SPYLRGF vs. FNDALRGF vs. JQUALRGF vs. VVLRGF vs. ITOT
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

LRGF vs. QUAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
LRGF
LRGF Risk / Return Rank: 5757
Overall Rank
LRGF Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
LRGF Sortino Ratio Rank: 5656
Sortino Ratio Rank
LRGF Omega Ratio Rank: 5454
Omega Ratio Rank
LRGF Calmar Ratio Rank: 5656
Calmar Ratio Rank
LRGF Martin Ratio Rank: 6464
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 7272
Overall Rank
QUAL Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 7474
Sortino Ratio Rank
QUAL Omega Ratio Rank: 7171
Omega Ratio Rank
QUAL Calmar Ratio Rank: 6565
Calmar Ratio Rank
QUAL Martin Ratio Rank: 7979
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.

LRGF vs. QUAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Equity Factor ETF (LRGF) and iShares MSCI USA Quality Factor ETF (QUAL). 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.

LRGFQUALDifference
Sharpe ratioReturn per unit of total volatility
1.36
1.65

-0.29

Sortino ratioReturn per unit of downside risk
1.91
2.36

-0.44

Omega ratioGain probability vs. loss probability

1.24

1.29

-0.05

Calmar ratioReturn relative to maximum drawdown

1.97

2.25

-0.28

Martin ratioReturn relative to average drawdown

7.67

10.08

-2.41

LRGF vs. QUAL - Sharpe Ratio Comparison

The current LRGF Sharpe Ratio is 1.36, which is comparable to the QUAL Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of LRGF and QUAL, 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

LRGF vs. QUAL - Drawdown Comparison

The maximum LRGF drawdown since its inception was -36.03%, which is greater than QUAL's maximum drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for LRGF and QUAL.

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Drawdown Indicators

LRGFQUALDifference

Max Drawdown

Largest peak-to-trough decline

-36.03%

-34.06%

-1.97%

Max Drawdown (1Y)

Largest decline over 1 year

-8.92%

-9.03%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-19.44%

-18.00%

-1.44%

Max Drawdown (5Y)

Largest decline over 5 years

-21.62%

-28.23%

+6.61%

Max Drawdown (10Y)

Largest decline over 10 years

-36.03%

-34.06%

-1.97%

Current Drawdown

Current decline from peak

-1.01%

-0.61%

-0.40%

Average Drawdown

Average peak-to-trough decline

-4.50%

-4.07%

-0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.29%

2.01%

+0.28%

Volatility

LRGF vs. QUAL - Volatility Comparison

iShares U.S. Equity Factor ETF (LRGF) has a higher volatility of 3.52% compared to iShares MSCI USA Quality Factor ETF (QUAL) at 2.88%. This indicates that LRGF's price experiences larger fluctuations and is considered to be riskier than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LRGFQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.52%

2.88%

+0.64%

Volatility (6M)

Calculated over the trailing 6-month period

10.08%

9.72%

+0.36%

Volatility (1Y)

Calculated over the trailing 1-year period

12.89%

12.33%

+0.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.09%

17.38%

-0.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.30%

18.09%

+0.21%

LRGF vs. QUAL - Expense Ratio Comparison

LRGF has a 0.08% expense ratio, which is lower than QUAL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LRGF vs. QUAL - Dividend Comparison

LRGF's dividend yield for the trailing twelve months is around 1.08%, more than QUAL's 0.86% yield.

PositionTTM20252024202320222021202020192018201720162015
LRGF
iShares U.S. Equity Factor ETF		1.08%1.16%1.23%1.49%1.78%1.05%1.35%1.76%3.27%1.68%1.56%0.83%
QUAL
iShares MSCI USA Quality Factor ETF		0.86%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%

Frequently Asked Questions

With a correlation of 0.93, LRGF and QUAL 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.

LRGF has higher volatility (3.52%) compared to QUAL (2.88%). In terms of maximum drawdown, LRGF dropped -36.03% vs QUAL's -34.06%.

On 10-year performance, QUAL leads with 14.15% vs 13.82% for LRGF. On fees, LRGF is cheaper at 0.08% per year. On volatility, QUAL has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QUAL has performed better with a 14.15% return vs 13.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LRGF is cheaper with a 0.08% expense ratio, compared with 0.15% for QUAL.

LRGF has the higher dividend yield at 1.08%, compared with 0.86% for QUAL.

LRGF is categorized as Large Cap Blend Equities, while QUAL is Quality Factor. LRGF tracks STOXX U.S. Equity Factor Index, while QUAL tracks MSCI USA Sector Neutral Quality Index. Their fees differ too: 0.08% for LRGF and 0.15% for QUAL.

QUAL currently has the higher Sharpe Ratio (1.65 vs 1.36), 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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