LRND vs. USPX

Last updated Jun 4, 2026

LRND (IQ U.S. Large Cap R&D Leaders ETF) and USPX (Franklin U.S. Equity Index ETF) are both Large Cap Blend Equities funds - LRND tracks the IQ U.S. Large Cap R&D Leaders Index - Benchmark TR Gross while USPX tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 3 years, LRND returned 23.71%/yr vs 22.42%/yr for USPX. Their correlation of 0.92 suggests significant overlap in exposure. LRND charges 0.14%/yr vs 0.03%/yr for USPX.

Performance

LRND vs. USPX - 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 Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LRND achieves a 11.98% return, which is significantly higher than USPX's 10.64% return.

LRND

• 1D: -1.16%
• 1M: 7.42%
• YTD: 11.98%
• 6M: 11.46%
• 1Y: 34.53%
• 3Y*: 23.71%
• 5Y*: —
• 10Y*: —

USPX

• 1D: -0.75%
• 1M: 5.12%
• YTD: 10.64%
• 6M: 10.50%
• 1Y: 27.42%
• 3Y*: 22.42%
• 5Y*: 12.39%
• 10Y*: —

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

LRND vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LRND IQ U.S. Large Cap R&D Leaders ETF	11.98%	20.31%	21.68%	44.13%	-19.33%
USPX Franklin U.S. Equity Index ETF	10.64%	17.78%	24.97%	27.07%	-15.79%

Correlation

The correlation between LRND and USPX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.92

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

LRND vs. USPX - Sectors Allocation Comparison

Sectors	LRND	USPX
Technology	57.8%	35.4%
Communication Services	15.8%	11.5%
Healthcare	10.1%	8.6%
Consumer Cyclical	8.1%	10.1%
Industrials	5.5%	8.4%
Consumer Defensive	1.9%	4.8%
Basic Materials	0.9%	1.7%
Financial Services	0.0%	11.8%
Energy	-	3.6%
Real Estate	-	1.8%
Utilities	-	2.3%

Return for Risk

LRND vs. USPX — Risk / Return Rank

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

LRND

LRND Risk / Return Rank: 62
LRND Sharpe Ratio Rank: 69
LRND Sortino Ratio Rank: 67
LRND Omega Ratio Rank: 65
LRND Calmar Ratio Rank: 51
LRND Martin Ratio Rank: 58

USPX

USPX Risk / Return Rank: 68
USPX Sharpe Ratio Rank: 69
USPX Sortino Ratio Rank: 68
USPX Omega Ratio Rank: 68
USPX Calmar Ratio Rank: 61
USPX Martin Ratio Rank: 73

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.

LRND vs. USPX - 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 Franklin U.S. Equity Index ETF (USPX). 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.

	LRND	USPX	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.28	0.00
Sortino ratio Return per unit of downside risk	3.06	3.12	-0.06
Omega ratio Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio Return relative to maximum drawdown	2.51	3.01	-0.50
Martin ratio Return relative to average drawdown	10.01	13.72	-3.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LRND vs. USPX - Sharpe Ratio Comparison

The current LRND Sharpe Ratio is 2.28, which is comparable to the USPX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of LRND and USPX, 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

	LRND	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.28	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.80	+0.01

Drawdowns

LRND vs. USPX - Drawdown Comparison

The maximum LRND drawdown since its inception was -25.43%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for LRND and USPX.

Drawdown Indicators

	LRND	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-31.21%	+5.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.83%	-9.15%	-4.68%
Max Drawdown (3Y) Largest decline over 3 years	-21.06%	-19.21%	-1.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.21%	—
Current Drawdown Current decline from peak	-1.16%	-0.75%	-0.41%
Average Drawdown Average peak-to-trough decline	-6.24%	-4.44%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.00%	+1.46%

Volatility

LRND vs. USPX - Volatility Comparison

IQ U.S. Large Cap R&D Leaders ETF (LRND) has a higher volatility of 3.73% compared to Franklin U.S. Equity Index ETF (USPX) at 2.87%. This indicates that LRND's price experiences larger fluctuations and is considered to be riskier than USPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LRND	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.87%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	11.84%	9.16%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	12.09%	+3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	16.17%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	15.92%	+4.07%

LRND vs. USPX - Expense Ratio Comparison

LRND has a 0.14% expense ratio, which is higher than USPX's 0.03% 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

LRND vs. USPX - Dividend Comparison

LRND's dividend yield for the trailing twelve months is around 0.49%, less than USPX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LRND IQ U.S. Large Cap R&D Leaders ETF	0.49%	0.67%	0.97%	1.22%	1.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.04%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Frequently Asked Questions

Can I hold both LRND and USPX in my portfolio?

With a correlation of 0.92, LRND and USPX 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.

Which is riskier, LRND or USPX?

LRND has higher volatility (3.73%) compared to USPX (2.87%). In terms of maximum drawdown, LRND dropped -25.43% vs USPX's -31.21%.

Which ETF is better, LRND or USPX?

On 3-year performance, LRND leads with 23.71% vs 22.42% for USPX. On fees, USPX is cheaper at 0.03% per year. On volatility, USPX has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LRND or USPX?

Over the 3-year period, LRND has performed better with a 23.71% return vs 22.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRND or USPX?

USPX is cheaper with a 0.03% expense ratio, compared with 0.14% for LRND.

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

USPX has the higher dividend yield at 1.04%, compared with 0.49% for LRND.

What is the main difference between LRND and USPX?

LRND tracks IQ U.S. Large Cap R&D Leaders Index - Benchmark TR Gross, while USPX tracks Morningstar US Target Market Exposure Index. They also come from different issuers: IndexIQ and Franklin Templeton. Their fees differ too: 0.14% for LRND and 0.03% for USPX.

Which has better risk-adjusted returns?

USPX currently has the higher Sharpe Ratio (2.28 vs 2.28), 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.