QBER vs. FLQL

Last updated Jun 4, 2026

QBER (TrueShares Quarterly Bear Hedge ETF) and FLQL (Franklin LibertyQ U.S. Equity ETF) are both exchange-traded funds - QBER is a Options Trading fund actively managed by TrueShares, while FLQL is a Large Cap Growth Equities fund tracking the LibertyQ U.S. Large Cap Equity Index. QBER is actively managed, while FLQL is passively managed. Over the past year, QBER returned -0.85% vs 29.48% for FLQL. At a correlation of -0.51, they often move in opposite directions. QBER charges 0.79%/yr vs 0.15%/yr for FLQL.

Performance

QBER vs. FLQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bear Hedge ETF (QBER) and Franklin LibertyQ U.S. Equity ETF (FLQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBER achieves a -0.96% return, which is significantly lower than FLQL's 12.66% return.

QBER

• 1D: -0.13%
• 1M: -0.38%
• YTD: -0.96%
• 6M: -0.37%
• 1Y: -0.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLQL

• 1D: -0.08%
• 1M: 5.00%
• YTD: 12.66%
• 6M: 12.54%
• 1Y: 29.48%
• 3Y*: 23.56%
• 5Y*: 14.70%
• 10Y*: —

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

QBER vs. FLQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBER TrueShares Quarterly Bear Hedge ETF	-0.96%	0.25%	0.04%
FLQL Franklin LibertyQ U.S. Equity ETF	12.66%	19.64%	6.03%

Correlation

The correlation between QBER and FLQL is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.50
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	-0.51

The correlation between QBER and FLQL has been stable across timeframes, ranging from -0.51 to -0.50 - a consistent structural relationship.

Return for Risk

QBER vs. FLQL — Risk / Return Rank

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

QBER

QBER Risk / Return Rank: 6
QBER Sharpe Ratio Rank: 7
QBER Sortino Ratio Rank: 6
QBER Omega Ratio Rank: 6
QBER Calmar Ratio Rank: 6
QBER Martin Ratio Rank: 5

FLQL

FLQL Risk / Return Rank: 71
FLQL Sharpe Ratio Rank: 69
FLQL Sortino Ratio Rank: 70
FLQL Omega Ratio Rank: 70
FLQL Calmar Ratio Rank: 65
FLQL Martin Ratio Rank: 79

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.

QBER vs. FLQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bear Hedge ETF (QBER) and Franklin LibertyQ U.S. Equity ETF (FLQL). 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.

	QBER	FLQL	Difference
Sharpe ratio Return per unit of total volatility	-0.23	2.31	-2.54
Sortino ratio Return per unit of downside risk	-0.31	3.24	-3.55
Omega ratio Gain probability vs. loss probability	0.96	1.42	-0.46
Calmar ratio Return relative to maximum drawdown	-0.36	3.27	-3.64
Martin ratio Return relative to average drawdown	-0.88	15.42	-16.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBER vs. FLQL - Sharpe Ratio Comparison

The current QBER Sharpe Ratio is -0.23, which is lower than the FLQL Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of QBER and FLQL, 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

	QBER	FLQL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	2.31	-2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.86	-0.91

Drawdowns

QBER vs. FLQL - Drawdown Comparison

The maximum QBER drawdown since its inception was -5.72%, smaller than the maximum FLQL drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for QBER and FLQL.

Drawdown Indicators

	QBER	FLQL	Difference
Max Drawdown Largest peak-to-trough decline	-5.72%	-33.64%	+27.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-9.05%	+6.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.41%	—
Current Drawdown Current decline from peak	-5.68%	-0.08%	-5.60%
Average Drawdown Average peak-to-trough decline	-4.72%	-4.04%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.92%	-0.95%

Volatility

QBER vs. FLQL - Volatility Comparison

The current volatility for TrueShares Quarterly Bear Hedge ETF (QBER) is 0.87%, while Franklin LibertyQ U.S. Equity ETF (FLQL) has a volatility of 3.19%. This indicates that QBER experiences smaller price fluctuations and is considered to be less risky than FLQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBER	FLQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	3.19%	-2.32%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	10.21%	-7.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	12.85%	-9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	16.12%	-9.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.40%	17.50%	-11.10%

QBER vs. FLQL - Expense Ratio Comparison

QBER has a 0.79% expense ratio, which is higher than FLQL's 0.15% expense ratio.

Dividends

QBER vs. FLQL - Dividend Comparison

QBER's dividend yield for the trailing twelve months is around 3.29%, more than FLQL's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQL Franklin LibertyQ U.S. Equity ETF	1.01%	1.10%	1.13%	1.50%	2.07%	1.81%	1.99%	1.78%	1.82%	1.22%
QBER TrueShares Quarterly Bear Hedge ETF	3.29%	3.26%	1.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QBER and FLQL in my portfolio?

QBER and FLQL have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBER or FLQL?

FLQL has higher volatility (3.19%) compared to QBER (0.87%). In terms of maximum drawdown, QBER dropped -5.72% vs FLQL's -33.64%.

Which ETF is better, QBER or FLQL?

On 1-year performance, FLQL leads with 29.48% vs -0.85% for QBER. On fees, FLQL is cheaper at 0.15% per year. On volatility, QBER has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBER or FLQL?

Over the 1-year period, FLQL has performed better with a 29.48% return vs -0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBER or FLQL?

FLQL is cheaper with a 0.15% expense ratio, compared with 0.79% for QBER.

Which ETF pays a higher dividend yield, QBER or FLQL?

QBER has the higher dividend yield at 3.29%, compared with 1.01% for FLQL.

What is the main difference between QBER and FLQL?

QBER is categorized as Options Trading, while FLQL is Large Cap Growth Equities. They also come from different issuers: TrueShares and Franklin Templeton. Their fees differ too: 0.79% for QBER and 0.15% for FLQL.

Which has better risk-adjusted returns?

FLQL currently has the higher Sharpe Ratio (2.31 vs -0.23), 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.