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QOWZ vs. QUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QOWZ vs. QUS

Last updated Jun 4, 2026

QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds - QOWZ tracks the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross while QUS tracks the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past year, QOWZ returned 2.83% vs 17.65% for QUS. A 0.79 correlation means they provide meaningful diversification when combined. QOWZ charges 0.39%/yr vs 0.15%/yr for QUS.

Performance

QOWZ vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QOWZ achieves a -1.71% return, which is significantly lower than QUS's 6.67% return.

QOWZ

1D
-1.13%
1M
6.39%
YTD
-1.71%
6M
-1.76%
1Y
2.83%
3Y*
—
5Y*
—
10Y*
—

QUS

1D
-0.43%
1M
2.68%
YTD
6.67%
6M
6.93%
1Y
17.65%
3Y*
17.53%
5Y*
11.08%
10Y*
13.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QOWZ vs. QUS - Yearly Performance Comparison

2026 (YTD)202520242023
QOWZ
Invesco Nasdaq Free Cash Flow Achievers ETF		-1.71%7.24%33.16%6.47%
QUS
SPDR MSCI USA StrategicFactors ETF		6.67%14.13%18.99%4.40%

Correlation

The correlation between QOWZ and QUS is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2023

0.79

The correlation between QOWZ and QUS has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

QOWZ vs. QUS - Sectors Allocation Comparison

Sectors
QOWZ
QUS

Technology

57.9%
26.3%

Industrials

12.4%
8.6%

Healthcare

9.8%
13.4%

Communication Services

8.5%
10.2%

Financial Services

5.1%
14.6%

Consumer Cyclical

4.1%
5.8%

Consumer Defensive

2.1%
9.2%

Basic Materials

-

2.3%

Energy

-

4.6%

Real Estate

-

1.4%

Utilities

-

3.6%

Technology

QOWZ
57.9%
QUS
26.3%

Industrials

QOWZ
12.4%
QUS
8.6%

Healthcare

QOWZ
9.8%
QUS
13.4%

Communication Services

QOWZ
8.5%
QUS
10.2%

Financial Services

QOWZ
5.1%
QUS
14.6%

Consumer Cyclical

QOWZ
4.1%
QUS
5.8%

Consumer Defensive

QOWZ
2.1%
QUS
9.2%

Basic Materials

QOWZ

-

QUS
2.3%

Energy

QOWZ

-

QUS
4.6%

Real Estate

QOWZ

-

QUS
1.4%

Utilities

QOWZ

-

QUS
3.6%

Compare stocks, funds, or ETFs

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

Invesco Nasdaq Free Cash Flow Achievers ETF

SPDR MSCI USA StrategicFactors ETF

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Often compared with QUS:
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Return for Risk

QOWZ vs. QUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QOWZ
QOWZ Risk / Return Rank: 1111
Overall Rank
QOWZ Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
QOWZ Sortino Ratio Rank: 1111
Sortino Ratio Rank
QOWZ Omega Ratio Rank: 1010
Omega Ratio Rank
QOWZ Calmar Ratio Rank: 1010
Calmar Ratio Rank
QOWZ Martin Ratio Rank: 1111
Martin Ratio Rank
QUS
QUS Risk / Return Rank: 5757
Overall Rank
QUS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 5858
Sortino Ratio Rank
QUS Omega Ratio Rank: 5555
Omega Ratio Rank
QUS Calmar Ratio Rank: 5252
Calmar Ratio Rank
QUS Martin Ratio Rank: 6363
Martin Ratio Rank
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.

QOWZ vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and SPDR MSCI USA StrategicFactors ETF (QUS). 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.

QOWZQUSDifference
Sharpe ratioReturn per unit of total volatility
0.19
1.95

-1.76

Sortino ratioReturn per unit of downside risk
0.36
2.81

-2.44

Omega ratioGain probability vs. loss probability

1.04

1.35

-0.30

Calmar ratioReturn relative to maximum drawdown

0.16

2.59

-2.43

Martin ratioReturn relative to average drawdown

0.42

11.54

-11.11

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QOWZ vs. QUS - Sharpe Ratio Comparison

The current QOWZ Sharpe Ratio is 0.19, which is lower than the QUS Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QOWZ and QUS, 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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Sharpe Ratios by Period

QOWZQUSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.19

1.95

-1.76

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.78

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.83

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

0.77

+0.14

Drawdowns

QOWZ vs. QUS - Drawdown Comparison

The maximum QOWZ drawdown since its inception was -20.36%, smaller than the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for QOWZ and QUS.

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Drawdown Indicators

QOWZQUSDifference

Max Drawdown

Largest peak-to-trough decline

-20.36%

-33.78%

+13.42%

Max Drawdown (1Y)

Largest decline over 1 year

-17.81%

-6.85%

-10.96%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.94%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.30%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.78%

—

Current Drawdown

Current decline from peak

-5.46%

-0.50%

-4.96%

Average Drawdown

Average peak-to-trough decline

-3.98%

-3.70%

-0.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.70%

1.53%

+5.17%

Volatility

QOWZ vs. QUS - Volatility Comparison

Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) has a higher volatility of 5.04% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 1.78%. This indicates that QOWZ's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QOWZQUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.04%

1.78%

+3.26%

Volatility (6M)

Calculated over the trailing 6-month period

11.99%

6.66%

+5.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.28%

9.09%

+6.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.27%

14.33%

+4.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.27%

16.42%

+2.85%

QOWZ vs. QUS - Expense Ratio Comparison

QOWZ has a 0.39% expense ratio, which is higher than QUS's 0.15% expense ratio.

Dividends

QOWZ vs. QUS - Dividend Comparison

QOWZ's dividend yield for the trailing twelve months is around 0.26%, less than QUS's 1.31% yield.

PositionTTM20252024202320222021202020192018201720162015
QOWZ
Invesco Nasdaq Free Cash Flow Achievers ETF		0.26%0.28%0.66%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QUS
SPDR MSCI USA StrategicFactors ETF		1.31%1.38%1.49%1.57%1.68%1.27%1.73%1.81%2.12%1.86%2.07%1.48%

Frequently Asked Questions

QOWZ and QUS have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QOWZ has higher volatility (5.04%) compared to QUS (1.78%). In terms of maximum drawdown, QOWZ dropped -20.36% vs QUS's -33.78%.

On 1-year performance, QUS leads with 17.65% vs 2.83% for QOWZ. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, QUS has performed better with a 17.65% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUS is cheaper with a 0.15% expense ratio, compared with 0.39% for QOWZ.

QUS has the higher dividend yield at 1.31%, compared with 0.26% for QOWZ.

QOWZ tracks Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). They also come from different issuers: Invesco and State Street. Their fees differ too: 0.39% for QOWZ and 0.15% for QUS.

QUS currently has the higher Sharpe Ratio (1.95 vs 0.19), 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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