QAT vs. EQLT

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Qatar ETF (QAT) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT).

QAT and EQLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QAT is a passively managed fund by iShares that tracks the performance of the MSCI All Qatar Capped Index. It was launched on Apr 29, 2014. EQLT is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Quality Factor Select Index. It was launched on Sep 4, 2024. Both QAT and EQLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QAT vs. EQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Qatar ETF (QAT) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). The values are adjusted to include any dividend payments, if applicable.

QAT vs. EQLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QAT iShares MSCI Qatar ETF	-1.16%	8.81%	2.80%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	4.18%	33.93%	-1.29%

Returns By Period

In the year-to-date period, QAT achieves a -1.16% return, which is significantly lower than EQLT's 4.18% return.

QAT

• 1D: 2.22%
• 1M: -4.42%
• YTD: -1.16%
• 6M: -3.61%
• 1Y: 8.10%
• 3Y*: 5.46%
• 5Y*: 3.59%
• 10Y*: 3.21%

EQLT

• 1D: 3.39%
• 1M: -8.11%
• YTD: 4.18%
• 6M: 9.95%
• 1Y: 34.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QAT vs. EQLT - Expense Ratio Comparison

QAT has a 0.59% expense ratio, which is higher than EQLT's 0.35% expense ratio.

QAT

iShares MSCI Qatar ETF

EQLT

iShares MSCI Emerging Markets Quality Factor ETF

Return for Risk

QAT vs. EQLT — Risk / Return Rank

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

QAT

QAT Risk / Return Rank: 31
QAT Sharpe Ratio Rank: 34
QAT Sortino Ratio Rank: 31
QAT Omega Ratio Rank: 32
QAT Calmar Ratio Rank: 34
QAT Martin Ratio Rank: 25

EQLT

EQLT Risk / Return Rank: 85
EQLT Sharpe Ratio Rank: 84
EQLT Sortino Ratio Rank: 85
EQLT Omega Ratio Rank: 82
EQLT Calmar Ratio Rank: 87
EQLT Martin Ratio Rank: 88

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.

QAT vs. EQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Qatar ETF (QAT) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). 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.

	QAT	EQLT	Difference
Sharpe ratio Return per unit of total volatility	0.62	1.70	-1.08
Sortino ratio Return per unit of downside risk	0.86	2.32	-1.46
Omega ratio Gain probability vs. loss probability	1.13	1.33	-0.20
Calmar ratio Return relative to maximum drawdown	0.82	2.79	-1.97
Martin ratio Return relative to average drawdown	1.80	11.08	-9.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QAT vs. EQLT - Sharpe Ratio Comparison

The current QAT Sharpe Ratio is 0.62, which is lower than the EQLT Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of QAT and EQLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QAT	EQLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	1.70	-1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	1.21	-1.14

Correlation

The correlation between QAT and EQLT is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

QAT vs. EQLT - Dividend Comparison

QAT's dividend yield for the trailing twelve months is around 3.55%, more than EQLT's 2.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QAT iShares MSCI Qatar ETF	3.55%	3.51%	5.90%	3.92%	4.78%	2.33%	2.63%	3.57%	4.63%	4.10%	3.51%	4.49%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.97%	3.10%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QAT vs. EQLT - Drawdown Comparison

The maximum QAT drawdown since its inception was -45.21%, which is greater than EQLT's maximum drawdown of -17.38%. Use the drawdown chart below to compare losses from any high point for QAT and EQLT.

Drawdown Indicators

	QAT	EQLT	Difference
Max Drawdown Largest peak-to-trough decline	-45.21%	-17.38%	-27.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	-12.00%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-33.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	—	—
Current Drawdown Current decline from peak	-13.45%	-9.01%	-4.44%
Average Drawdown Average peak-to-trough decline	-19.29%	-3.78%	-15.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.81%	3.02%	+1.79%

Volatility

QAT vs. EQLT - Volatility Comparison

The current volatility for iShares MSCI Qatar ETF (QAT) is 5.05%, while iShares MSCI Emerging Markets Quality Factor ETF (EQLT) has a volatility of 10.92%. This indicates that QAT experiences smaller price fluctuations and is considered to be less risky than EQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QAT	EQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	10.92%	-5.87%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	15.38%	-6.31%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	20.20%	-6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	19.01%	-4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	19.01%	-1.41%