LRND vs. QUS

Last updated Aug 4, 2026

LRND (IQ U.S. Large Cap R&D Leaders ETF) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds - LRND tracks the IQ U.S. Large Cap R&D Leaders Index - Benchmark TR Gross while QUS tracks the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 3 years, LRND returned 21.92%/yr vs 17.10%/yr for QUS. Their correlation of 0.85 means they have usually moved in the same direction. LRND charges 0.14%/yr vs 0.15%/yr for QUS.

Performance

LRND vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ U.S. Large Cap R&D Leaders ETF (LRND) and State Street 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, LRND achieves a 12.76% return, which is significantly higher than QUS's 10.23% return.

LRND

• 1D: 1.97%
• 1M: 3.93%
• 6M: 12.78%
• YTD: 12.76%
• 1Y: 26.47%
• 3Y*: 21.92%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.66%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LRND IQ U.S. Large Cap R&D Leaders ETF	$19.34K	$1.86M	$1.87M
QUS State Street SPDR MSCI USA StrategicFactors ETF	$3.01M	$4.81M	$3.43M

LRND vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LRND IQ U.S. Large Cap R&D Leaders ETF	12.76%	20.31%	21.68%	44.13%	-19.33%
QUS State Street SPDR MSCI USA StrategicFactors ETF	10.23%	14.13%	18.99%	21.78%	-8.71%

Correlation

The correlation between LRND and QUS is 0.67, 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.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.85

The correlation between LRND and QUS shifts across timeframes, from 0.67 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

LRND vs. QUS - Sectors Allocation Comparison

Sectors	LRND	QUS
Technology	60.0%	28.4%
Communication Services	13.8%	8.2%
Healthcare	11.2%	14.4%
Consumer Cyclical	7.1%	5.7%
Industrials	5.3%	8.1%
Consumer Defensive	1.7%	8.3%
Basic Materials	0.9%	2.2%
Financial Services	0.0%	15.7%
Real Estate	0.0%	1.6%
Energy	-	3.3%
Utilities	-	3.9%

Return for Risk

LRND vs. QUS — Risk / Return Rank

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

LRND

LRND Risk / Return Rank: 58
LRND Sharpe Ratio Rank: 64
LRND Sortino Ratio Rank: 61
LRND Omega Ratio Rank: 58
LRND Calmar Ratio Rank: 51
LRND Martin Ratio Rank: 54

QUS

QUS Risk / Return Rank: 85
QUS Sharpe Ratio Rank: 87
QUS Sortino Ratio Rank: 88
QUS Omega Ratio Rank: 86
QUS Calmar Ratio Rank: 78
QUS Martin Ratio Rank: 86

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.

LRND vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ U.S. Large Cap R&D Leaders ETF (LRND) 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.

	LRND	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.16	-0.57
Sortino ratio: Return per unit of downside risk	2.21	3.05	-0.84
Omega ratio: Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	1.92	2.90	-0.98
Martin ratio: Return relative to average drawdown	6.83	12.95	-6.12

LRND vs. QUS - Sharpe Ratio Comparison

The current LRND Sharpe Ratio is 1.60, which is comparable to the QUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of LRND 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

LRND vs. QUS - Drawdown Comparison

The maximum LRND drawdown since its inception was -25.43%, smaller than the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for LRND and QUS.

Drawdown Indicators

	LRND	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-33.78%	+8.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.83%	-6.85%	-6.98%
Max Drawdown (3Y) Largest decline over 3 years	-21.06%	-13.94%	-7.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-0.47%	0.00%	-0.47%
Average Drawdown Average peak-to-trough decline	-6.16%	-3.66%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	1.53%	+2.36%

Volatility

LRND vs. QUS - Volatility Comparison

IQ U.S. Large Cap R&D Leaders ETF (LRND) has a higher volatility of 5.06% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.42%. This indicates that LRND'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

	LRND	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	2.42%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	6.97%	+6.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	9.22%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	14.32%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	16.40%	+3.59%

LRND vs. QUS - Expense Ratio Comparison

LRND has a 0.14% expense ratio, which is lower than QUS'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

LRND vs. QUS - Dividend Comparison

LRND's dividend yield for the trailing twelve months is around 0.41%, less than QUS's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LRND IQ U.S. Large Cap R&D Leaders ETF	0.41%	0.67%	0.97%	1.22%	1.32%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both LRND and QUS in my portfolio?

LRND and QUS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LRND or QUS?

LRND has higher volatility (5.06%) compared to QUS (2.42%). In terms of maximum drawdown, LRND dropped -25.43% vs QUS's -33.78%.

Which ETF is better, LRND or QUS?

On 3-year performance, LRND leads with 21.92% vs 17.10% for QUS. On fees, LRND is cheaper at 0.14% 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.

Which ETF has performed better, LRND or QUS?

Over the 3-year period, LRND has performed better with a 21.92% return vs 17.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRND or QUS?

LRND is cheaper with a 0.14% expense ratio, compared with 0.15% for QUS.

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

QUS has the higher dividend yield at 1.27%, compared with 0.41% for LRND.

What is the main difference between LRND and QUS?

LRND tracks IQ U.S. Large Cap R&D Leaders Index - Benchmark TR Gross, while QUS tracks MSCI USA Factor Mix A-Series Capped Index. They also come from different issuers: IndexIQ and State Street. Their fees differ too: 0.14% for LRND and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (2.16 vs 1.59), 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.