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QSML vs. RWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QSML vs. RWJ

Last updated Aug 4, 2026
Documentation

QSML (Wisdomtree U.S. Smallcap Quality Growth Fund) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both exchange-traded funds - QSML is a Quality Factor fund tracking the WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross, while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past year, QSML returned 31.80% vs 46.00% for RWJ. Their correlation of 0.92 means they have usually moved in the same direction. QSML charges 0.38%/yr vs 0.39%/yr for RWJ.

Performance

QSML vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QSML achieves a 19.46% return, which is significantly lower than RWJ's 27.72% return.

QSML

1D
1.98%
1M
2.30%
6M
15.89%
YTD
19.46%
1Y
31.80%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
13.80%

RWJ

1D
1.58%
1M
4.01%
6M
17.92%
YTD
27.72%
1Y
46.00%
3Y*
17.09%
5Y*
11.70%
10Y*
13.52%
ALL TIME*
12.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QSML

Wisdomtree U.S. Smallcap Quality Growth Fund
$17.22K$17.81K$19.02K

RWJ

Invesco S&P SmallCap 600 Revenue ETF
$5.36M$5.23M$5.02M

QSML vs. RWJ - Yearly Performance Comparison

2026 (YTD)20252024
QSML
Wisdomtree U.S. Smallcap Quality Growth Fund		19.46%5.49%9.93%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		27.72%7.75%16.66%

Correlation

The correlation between QSML and RWJ is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2024

0.92

The correlation between QSML and RWJ has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

QSML vs. RWJ - Sectors Allocation Comparison

Sectors
QSML
RWJ

Technology

21.4%
10.3%

Consumer Cyclical

18.1%
25.4%

Financial Services

15.6%
11.6%

Industrials

13.8%
15.3%

Healthcare

13.7%
11.0%

Consumer Defensive

7.6%
7.7%

Energy

4.0%
6.5%

Communication Services

2.9%
2.6%

Basic Materials

2.4%
4.7%

Real Estate

0.3%
4.1%

Utilities

0.2%
0.9%

Technology

QSML
21.4%
RWJ
10.3%

Consumer Cyclical

QSML
18.1%
RWJ
25.4%

Financial Services

QSML
15.6%
RWJ
11.6%

Industrials

QSML
13.8%
RWJ
15.3%

Healthcare

QSML
13.7%
RWJ
11.0%

Consumer Defensive

QSML
7.6%
RWJ
7.7%

Energy

QSML
4.0%
RWJ
6.5%

Communication Services

QSML
2.9%
RWJ
2.6%

Basic Materials

QSML
2.4%
RWJ
4.7%

Real Estate

QSML
0.3%
RWJ
4.1%

Utilities

QSML
0.2%
RWJ
0.9%

Compare stocks, funds, or ETFs

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

Wisdomtree U.S. Smallcap Quality Growth Fund

Invesco S&P SmallCap 600 Revenue ETF

Often compared with QSML:
QSML vs. AVUVQSML vs. AVDVQSML vs. SCHGQSML vs. DFSVQSML vs. SFLOQSML vs. VBRQSML vs. SCHA
Often compared with RWJ:
RWJ vs. AVUVXRWJ vs. XSVMRWJ vs. RWKRWJ vs. RZVRWJ vs. CALFRWJ vs. RFVRWJ vs. FSMD

Return for Risk

QSML vs. RWJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
QSML
QSML Risk / Return Rank: 7575
Overall Rank
QSML Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QSML Sortino Ratio Rank: 7979
Sortino Ratio Rank
QSML Omega Ratio Rank: 7070
Omega Ratio Rank
QSML Calmar Ratio Rank: 7878
Calmar Ratio Rank
QSML Martin Ratio Rank: 7575
Martin Ratio Rank
RWJ
RWJ Risk / Return Rank: 9191
Overall Rank
RWJ Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 9393
Sortino Ratio Rank
RWJ Omega Ratio Rank: 9090
Omega Ratio Rank
RWJ Calmar Ratio Rank: 9191
Calmar Ratio Rank
RWJ Martin Ratio Rank: 8888
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QSML vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

QSMLRWJDifference
Sharpe ratioReturn per unit of total volatility
1.83
2.50

-0.67

Sortino ratioReturn per unit of downside risk
2.73
3.57

-0.84

Omega ratioGain probability vs. loss probability

1.31

1.43

-0.12

Calmar ratioReturn relative to maximum drawdown

2.98

4.09

-1.11

Martin ratioReturn relative to average drawdown

10.05

13.73

-3.68

QSML vs. RWJ - Sharpe Ratio Comparison

The current QSML Sharpe Ratio is 1.83, which is comparable to the RWJ Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of QSML and RWJ, 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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Drawdowns

QSML vs. RWJ - Drawdown Comparison

The maximum QSML drawdown since its inception was -28.54%, smaller than the maximum RWJ drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for QSML and RWJ.

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Drawdown Indicators

QSMLRWJDifference

Max Drawdown

Largest peak-to-trough decline

-28.54%

-55.97%

+27.43%

Max Drawdown (1Y)

Largest decline over 1 year

-10.72%

-11.31%

+0.59%

Max Drawdown (3Y)

Largest decline over 3 years

—

-29.29%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-29.29%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-51.33%

—

Current Drawdown

Current decline from peak

0.00%

-0.19%

+0.19%

Average Drawdown

Average peak-to-trough decline

-5.63%

-9.16%

+3.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

3.36%

-0.19%

Volatility

QSML vs. RWJ - Volatility Comparison

Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) has a higher volatility of 4.71% compared to Invesco S&P SmallCap 600 Revenue ETF (RWJ) at 4.32%. This indicates that QSML's price experiences larger fluctuations and is considered to be riskier than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QSMLRWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

4.32%

+0.39%

Volatility (6M)

Calculated over the trailing 6-month period

12.38%

12.24%

+0.14%

Volatility (1Y)

Calculated over the trailing 1-year period

17.49%

18.55%

-1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.59%

23.50%

-2.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.59%

26.07%

-5.48%

QSML vs. RWJ - Expense Ratio Comparison

QSML has a 0.38% expense ratio, which is lower than RWJ's 0.39% expense ratio.

Dividends

QSML vs. RWJ - Dividend Comparison

QSML's dividend yield for the trailing twelve months is around 0.52%, less than RWJ's 0.98% yield.

PositionTTM20252024202320222021202020192018201720162015
QSML
Wisdomtree U.S. Smallcap Quality Growth Fund		0.52%0.62%0.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		0.98%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%

Frequently Asked Questions

With a correlation of 0.91, QSML and RWJ 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.

QSML has higher volatility (4.71%) compared to RWJ (4.32%). In terms of maximum drawdown, QSML dropped -28.54% vs RWJ's -55.97%.

On 1-year performance, RWJ leads with 46.00% vs 31.80% for QSML. On fees, QSML is cheaper at 0.38% per year. On volatility, RWJ has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, RWJ has performed better with a 46.00% return vs 31.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QSML is cheaper with a 0.38% expense ratio, compared with 0.39% for RWJ.

RWJ has the higher dividend yield at 0.98%, compared with 0.52% for QSML.

QSML is categorized as Quality Factor, while RWJ is Small Cap Value Equities. QSML tracks WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross, while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.38% for QSML and 0.39% for RWJ.

RWJ currently has the higher Sharpe Ratio (2.50 vs 1.83), 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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