QDIV vs. GMMF

Last updated Jun 4, 2026

QDIV (Global X S&P 500 Quality Dividend ETF) and GMMF (iShares Government Money Market ETF) are both exchange-traded funds - QDIV is a Dividend fund tracking the S&P 500 Quality High Dividend Index, while GMMF is a Money Market fund actively managed by iShares. QDIV is passively managed, while GMMF is actively managed. Over the past year, QDIV returned 13.84% vs 3.87% for GMMF. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.20% expense ratio.

Performance

QDIV vs. GMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Quality Dividend ETF (QDIV) and iShares Government Money Market ETF (GMMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDIV achieves a 8.21% return, which is significantly higher than GMMF's 1.47% return.

QDIV

• 1D: -0.10%
• 1M: 1.84%
• YTD: 8.21%
• 6M: 7.70%
• 1Y: 13.84%
• 3Y*: 9.81%
• 5Y*: 6.17%
• 10Y*: —

GMMF

• 1D: 0.02%
• 1M: 0.28%
• YTD: 1.47%
• 6M: 1.75%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDIV vs. GMMF - Yearly Performance Comparison

	2026 (YTD)	2025
QDIV Global X S&P 500 Quality Dividend ETF	8.21%	1.87%
GMMF iShares Government Money Market ETF	1.47%	3.70%

Correlation

The correlation between QDIV and GMMF is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	-0.07

Return for Risk

QDIV vs. GMMF — Risk / Return Rank

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

QDIV

QDIV Risk / Return Rank: 32
QDIV Sharpe Ratio Rank: 32
QDIV Sortino Ratio Rank: 34
QDIV Omega Ratio Rank: 30
QDIV Calmar Ratio Rank: 35
QDIV Martin Ratio Rank: 30

GMMF

GMMF Risk / Return Rank: 100
GMMF Sharpe Ratio Rank: 100
GMMF Sortino Ratio Rank: 100
GMMF Omega Ratio Rank: 100
GMMF Calmar Ratio Rank: 100
GMMF Martin Ratio Rank: 100

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.

QDIV vs. GMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Quality Dividend ETF (QDIV) and iShares Government Money Market ETF (GMMF). 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.

	QDIV	GMMF	Difference
Sharpe ratio: Return per unit of total volatility	1.18	17.52	-16.34
Sortino ratio: Return per unit of downside risk	1.83	86.57	-84.74
Omega ratio: Gain probability vs. loss probability	1.21	24.81	-23.61
Calmar ratio: Return relative to maximum drawdown	1.74	129.87	-128.13
Martin ratio: Return relative to average drawdown	4.51	1,318.32	-1,313.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDIV vs. GMMF - Sharpe Ratio Comparison

The current QDIV Sharpe Ratio is 1.18, which is lower than the GMMF Sharpe Ratio of 17.52. The chart below compares the historical Sharpe Ratios of QDIV and GMMF, 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

	QDIV	GMMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	17.52	-16.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	16.34	-15.91

Drawdowns

QDIV vs. GMMF - Drawdown Comparison

The maximum QDIV drawdown since its inception was -41.20%, which is greater than GMMF's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for QDIV and GMMF.

Drawdown Indicators

	QDIV	GMMF	Difference
Max Drawdown Largest peak-to-trough decline	-41.20%	-0.03%	-41.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.97%	-0.03%	-7.94%
Max Drawdown (3Y) Largest decline over 3 years	-16.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	—	—
Current Drawdown Current decline from peak	-3.96%	0.00%	-3.96%
Average Drawdown Average peak-to-trough decline	-5.54%	-0.00%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	0.00%	+3.08%

Volatility

QDIV vs. GMMF - Volatility Comparison

Global X S&P 500 Quality Dividend ETF (QDIV) has a higher volatility of 2.61% compared to iShares Government Money Market ETF (GMMF) at 0.06%. This indicates that QDIV's price experiences larger fluctuations and is considered to be riskier than GMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDIV	GMMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	0.06%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	8.07%	0.14%	+7.93%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	0.22%	+11.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	0.24%	+15.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.42%	0.24%	+19.18%

QDIV vs. GMMF - Expense Ratio Comparison

Both QDIV and GMMF have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QDIV vs. GMMF - Dividend Comparison

QDIV's dividend yield for the trailing twelve months is around 3.23%, less than GMMF's 3.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GMMF iShares Government Money Market ETF	3.67%	3.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QDIV Global X S&P 500 Quality Dividend ETF	3.23%	3.13%	2.88%	3.26%	3.02%	2.44%	3.06%	2.84%	1.30%

Frequently Asked Questions

Can I hold both QDIV and GMMF in my portfolio?

QDIV and GMMF have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDIV or GMMF?

QDIV has higher volatility (2.61%) compared to GMMF (0.06%). In terms of maximum drawdown, QDIV dropped -41.20% vs GMMF's -0.03%.

Which ETF is better, QDIV or GMMF?

On 1-year performance, QDIV leads with 13.84% vs 3.87% for GMMF. Both ETFs have the same 0.20% expense ratio. On volatility, GMMF has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDIV or GMMF?

Over the 1-year period, QDIV has performed better with a 13.84% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDIV or GMMF?

QDIV and GMMF have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, QDIV or GMMF?

GMMF has the higher dividend yield at 3.67%, compared with 3.23% for QDIV.

What is the main difference between QDIV and GMMF?

QDIV is categorized as Dividend, while GMMF is Money Market. They also come from different issuers: Global X and iShares.

Which has better risk-adjusted returns?

GMMF currently has the higher Sharpe Ratio (17.52 vs 1.18), 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.