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OUSA vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OUSA vs. QUAL

Last updated Aug 2, 2026
Documentation

OUSA (OShares U.S. Quality Dividend ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both Quality Factor funds - OUSA tracks the O'Shares US Quality Dividend Index while QUAL tracks the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 10 years, OUSA returned 10.36%/yr vs 14.15%/yr for QUAL. Their correlation of 0.88 means they have usually moved in the same direction. OUSA charges 0.48%/yr vs 0.15%/yr for QUAL.

Performance

OUSA vs. QUAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Quality Dividend ETF (OUSA) 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, OUSA achieves a 6.53% return, which is significantly lower than QUAL's 10.86% return. Over the past 10 years, OUSA has underperformed QUAL with an annualized return of 10.36%, while QUAL has yielded a comparatively higher 14.15% annualized return.

OUSA

1D
0.11%
1M
1.87%
6M
4.63%
YTD
6.53%
1Y
15.60%
3Y*
12.64%
5Y*
8.87%
10Y*
10.36%
ALL TIME*
10.68%

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)

OUSA

OShares U.S. Quality Dividend ETF
$914.72K$1.31M$1.45M

QUAL

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

OUSA vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OUSA
OShares U.S. Quality Dividend ETF		6.53%10.23%17.09%13.44%-9.33%23.75%6.96%25.03%-3.11%18.81%
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 OUSA and QUAL is 0.65, 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.

0.65

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

0.79

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

0.84

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

0.87

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2015

0.88

Over the past year, the correlation between OUSA and QUAL has dropped to 0.65 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

OUSA vs. QUAL - Sectors Allocation Comparison

Sectors
OUSA
QUAL

Technology

23.7%
40.2%

Financial Services

18.6%
10.9%

Healthcare

15.1%
9.2%

Consumer Cyclical

13.1%
9.0%

Industrials

11.9%
7.4%

Communication Services

10.3%
10.3%

Consumer Defensive

7.4%
4.3%

Basic Materials

-

1.9%

Energy

-

2.9%

Real Estate

-

1.7%

Utilities

-

2.1%

Technology

OUSA
23.7%
QUAL
40.2%

Financial Services

OUSA
18.6%
QUAL
10.9%

Healthcare

OUSA
15.1%
QUAL
9.2%

Consumer Cyclical

OUSA
13.1%
QUAL
9.0%

Industrials

OUSA
11.9%
QUAL
7.4%

Communication Services

OUSA
10.3%
QUAL
10.3%

Consumer Defensive

OUSA
7.4%
QUAL
4.3%

Basic Materials

OUSA

-

QUAL
1.9%

Energy

OUSA

-

QUAL
2.9%

Real Estate

OUSA

-

QUAL
1.7%

Utilities

OUSA

-

QUAL
2.1%

Compare stocks, funds, or ETFs

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

OShares U.S. Quality Dividend ETF

iShares MSCI USA Quality Factor ETF

Often compared with OUSA:
OUSA vs. SCHDOUSA vs. SPYOUSA vs. VYMOUSA vs. JEPIOUSA vs. NOBLOUSA vs. VTIOUSA vs. DIA
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

OUSA vs. QUAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
OUSA
OUSA Risk / Return Rank: 5959
Overall Rank
OUSA Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
OUSA Sortino Ratio Rank: 6868
Sortino Ratio Rank
OUSA Omega Ratio Rank: 6060
Omega Ratio Rank
OUSA Calmar Ratio Rank: 5050
Calmar Ratio Rank
OUSA Martin Ratio Rank: 5353
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.

OUSA vs. QUAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Quality Dividend ETF (OUSA) 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.

OUSAQUALDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.65

-0.20

Sortino ratioReturn per unit of downside risk
2.22
2.36

-0.14

Omega ratioGain probability vs. loss probability

1.26

1.29

-0.03

Calmar ratioReturn relative to maximum drawdown

1.78

2.25

-0.47

Martin ratioReturn relative to average drawdown

6.23

10.08

-3.85

OUSA vs. QUAL - Sharpe Ratio Comparison

The current OUSA Sharpe Ratio is 1.46, which is comparable to the QUAL Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of OUSA 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

OUSA vs. QUAL - Drawdown Comparison

The maximum OUSA drawdown since its inception was -33.12%, roughly equal to the maximum QUAL drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for OUSA and QUAL.

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Drawdown Indicators

OUSAQUALDifference

Max Drawdown

Largest peak-to-trough decline

-33.12%

-34.06%

+0.94%

Max Drawdown (1Y)

Largest decline over 1 year

-8.36%

-9.03%

+0.67%

Max Drawdown (3Y)

Largest decline over 3 years

-13.14%

-18.00%

+4.86%

Max Drawdown (5Y)

Largest decline over 5 years

-19.54%

-28.23%

+8.69%

Max Drawdown (10Y)

Largest decline over 10 years

-33.12%

-34.06%

+0.94%

Current Drawdown

Current decline from peak

-0.75%

-0.61%

-0.14%

Average Drawdown

Average peak-to-trough decline

-3.50%

-4.07%

+0.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.39%

2.01%

+0.38%

Volatility

OUSA vs. QUAL - Volatility Comparison

OShares U.S. Quality Dividend ETF (OUSA) has a higher volatility of 4.00% compared to iShares MSCI USA Quality Factor ETF (QUAL) at 2.88%. This indicates that OUSA'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

OUSAQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.00%

2.88%

+1.12%

Volatility (6M)

Calculated over the trailing 6-month period

8.11%

9.72%

-1.61%

Volatility (1Y)

Calculated over the trailing 1-year period

10.27%

12.33%

-2.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.38%

17.38%

-4.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.19%

18.09%

-2.90%

OUSA vs. QUAL - Expense Ratio Comparison

OUSA has a 0.48% expense ratio, which is higher than QUAL's 0.15% expense ratio.

Dividends

OUSA vs. QUAL - Dividend Comparison

OUSA's dividend yield for the trailing twelve months is around 1.36%, more than QUAL's 0.86% yield.

PositionTTM20252024202320222021202020192018201720162015
OUSA
OShares U.S. Quality Dividend ETF		1.36%1.39%1.50%1.81%1.92%1.56%2.03%2.31%3.06%2.15%2.32%1.17%
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

OUSA and QUAL have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

OUSA has higher volatility (4.00%) compared to QUAL (2.88%). In terms of maximum drawdown, OUSA dropped -33.12% vs QUAL's -34.06%.

On 10-year performance, QUAL leads with 14.15% vs 10.36% for OUSA. On fees, QUAL is cheaper at 0.15% 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 10.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUAL is cheaper with a 0.15% expense ratio, compared with 0.48% for OUSA.

OUSA has the higher dividend yield at 1.36%, compared with 0.86% for QUAL.

OUSA tracks O'Shares US Quality Dividend Index, while QUAL tracks MSCI USA Sector Neutral Quality Index. They also come from different issuers: O'Shares Investments and iShares. Their fees differ too: 0.48% for OUSA and 0.15% for QUAL.

QUAL currently has the higher Sharpe Ratio (1.65 vs 1.46), 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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