QLC vs. BBUS

Last updated Jun 24, 2026

QLC (FlexShares US Quality Large Cap Index Fund) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds - QLC tracks the Northern Trust Quality Large Cap Index while BBUS tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 5 years, QLC returned 14.86%/yr vs 12.52%/yr for BBUS. With a 0.97 correlation, they move nearly in lockstep. QLC charges 0.25%/yr vs 0.02%/yr for BBUS.

Performance

QLC vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares US Quality Large Cap Index Fund (QLC) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLC achieves a 9.59% return, which is significantly higher than BBUS's 7.57% return.

QLC

• 1D: -1.12%
• 1M: -0.37%
• YTD: 9.59%
• 6M: 8.51%
• 1Y: 29.38%
• 3Y*: 23.96%
• 5Y*: 14.86%
• 10Y*: 14.85%

BBUS

• 1D: -1.68%
• 1M: -1.53%
• YTD: 7.57%
• 6M: 6.62%
• 1Y: 22.78%
• 3Y*: 20.70%
• 5Y*: 12.52%
• 10Y*: —

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

QLC vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLC FlexShares US Quality Large Cap Index Fund	9.59%	23.26%	26.71%	26.02%	-17.21%	28.46%	13.64%	11.96%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	7.57%	17.77%	24.89%	27.20%	-19.46%	27.13%	20.69%	16.26%

Correlation

The correlation between QLC and BBUS is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019	0.97

The correlation between QLC and BBUS has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

QLC vs. BBUS - Sectors Allocation Comparison

Sectors	QLC	BBUS
Technology	37.8%	38.1%
Financial Services	13.2%	11.2%
Communication Services	13.0%	10.0%
Healthcare	9.6%	8.0%
Consumer Cyclical	7.8%	9.1%
Industrials	6.3%	7.4%
Utilities	3.1%	2.6%
Consumer Defensive	3.0%	4.4%
Real Estate	2.1%	1.7%
Basic Materials	2.0%	1.2%
Energy	2.0%	3.0%

Return for Risk

QLC vs. BBUS — Risk / Return Rank

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

QLC

QLC Risk / Return Rank: 75
QLC Sharpe Ratio Rank: 76
QLC Sortino Ratio Rank: 75
QLC Omega Ratio Rank: 73
QLC Calmar Ratio Rank: 70
QLC Martin Ratio Rank: 81

BBUS

BBUS Risk / Return Rank: 56
BBUS Sharpe Ratio Rank: 56
BBUS Sortino Ratio Rank: 54
BBUS Omega Ratio Rank: 55
BBUS Calmar Ratio Rank: 52
BBUS Martin Ratio Rank: 63

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.

QLC vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Large Cap Index Fund (QLC) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.

	QLC	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.82	+0.46
Sortino ratio: Return per unit of downside risk	3.13	2.48	+0.65
Omega ratio: Gain probability vs. loss probability	1.41	1.33	+0.08
Calmar ratio: Return relative to maximum drawdown	3.34	2.49	+0.85
Martin ratio: Return relative to average drawdown	15.18	10.97	+4.20

QLC vs. BBUS - Sharpe Ratio Comparison

The current QLC Sharpe Ratio is 2.28, which is comparable to the BBUS Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of QLC and BBUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QLC vs. BBUS - Drawdown Comparison

The maximum QLC drawdown since its inception was -35.86%, roughly equal to the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for QLC and BBUS.

Drawdown Indicators

	QLC	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-35.86%	-35.35%	-0.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-9.21%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-18.49%	-19.01%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-23.81%	-25.46%	+1.65%
Max Drawdown (10Y) Largest decline over 10 years	-35.86%	—	—
Current Drawdown Current decline from peak	-2.34%	-3.47%	+1.13%
Average Drawdown Average peak-to-trough decline	-4.52%	-5.43%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.08%	-0.14%

Volatility

QLC vs. BBUS - Volatility Comparison

FlexShares US Quality Large Cap Index Fund (QLC) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS) have volatilities of 4.81% and 5.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLC	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	5.00%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	9.95%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	12.98%	12.59%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	17.14%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.46%	19.59%	-1.13%

QLC vs. BBUS - Expense Ratio Comparison

QLC has a 0.25% expense ratio, which is higher than BBUS's 0.02% 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

QLC vs. BBUS - Dividend Comparison

QLC's dividend yield for the trailing twelve months is around 0.95%, less than BBUS's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBUS JPMorgan BetaBuilders U.S. Equity ETF	1.01%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%	0.00%	0.00%	0.00%	0.00%
QLC FlexShares US Quality Large Cap Index Fund	0.95%	0.94%	1.03%	1.26%	1.46%	0.96%	1.40%	1.91%	1.82%	1.29%	1.80%	0.64%

Frequently Asked Questions

Can I hold both QLC and BBUS in my portfolio?

With a correlation of 0.98, QLC and BBUS 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, QLC or BBUS?

BBUS has higher volatility (5.00%) compared to QLC (4.81%). In terms of maximum drawdown, QLC dropped -35.86% vs BBUS's -35.35%.

Which ETF is better, QLC or BBUS?

On 5-year performance, QLC leads with 14.86% vs 12.52% for BBUS. On fees, BBUS is cheaper at 0.02% per year. On volatility, QLC has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLC or BBUS?

Over the 5-year period, QLC has performed better with a 14.86% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLC or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.25% for QLC.

Which ETF pays a higher dividend yield, QLC or BBUS?

BBUS has the higher dividend yield at 1.01%, compared with 0.95% for QLC.

What is the main difference between QLC and BBUS?

QLC tracks Northern Trust Quality Large Cap Index, while BBUS tracks Morningstar US Target Market Exposure Index. They also come from different issuers: Northern Trust and JPMorgan. Their fees differ too: 0.25% for QLC and 0.02% for BBUS.

Which has better risk-adjusted returns?

QLC currently has the higher Sharpe Ratio (2.28 vs 1.82), 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.