QSMLX vs. XSHQ
Compare and contrast key facts about AQR Small Cap Multi-Style Fund (QSMLX) and Invesco S&P SmallCap Quality ETF (XSHQ).
QSMLX is managed by AQR Funds. It was launched on Mar 26, 2013. XSHQ is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Quality Index. It was launched on Apr 6, 2017.
Performance
QSMLX vs. XSHQ - Performance Comparison
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QSMLX vs. XSHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QSMLX AQR Small Cap Multi-Style Fund | 2.92% | 17.41% | 11.02% | 24.01% | -18.31% | 26.54% | 17.99% | 20.42% | -14.26% | 10.66% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.02% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 17.37% | -6.11% | 7.18% |
Returns By Period
In the year-to-date period, QSMLX achieves a 2.92% return, which is significantly higher than XSHQ's 1.02% return.
QSMLX
- 1D
- 3.37%
- 1M
- -5.18%
- YTD
- 2.92%
- 6M
- 3.93%
- 1Y
- 28.93%
- 3Y*
- 17.99%
- 5Y*
- 7.61%
- 10Y*
- 10.78%
XSHQ
- 1D
- 0.47%
- 1M
- -3.94%
- YTD
- 1.02%
- 6M
- -0.13%
- 1Y
- 9.16%
- 3Y*
- 9.24%
- 5Y*
- 4.16%
- 10Y*
- —
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QSMLX vs. XSHQ - Expense Ratio Comparison
QSMLX has a 0.72% expense ratio, which is higher than XSHQ's 0.29% expense ratio.
Return for Risk
QSMLX vs. XSHQ — Risk / Return Rank
QSMLX
XSHQ
QSMLX vs. XSHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Small Cap Multi-Style Fund (QSMLX) and Invesco S&P SmallCap Quality ETF (XSHQ). 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.
| QSMLX | XSHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.43 | +0.86 |
Sortino ratioReturn per unit of downside risk | 1.88 | 0.79 | +1.09 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.09 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.46 | 0.65 | +1.81 |
Martin ratioReturn relative to average drawdown | 9.11 | 2.03 | +7.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QSMLX | XSHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.43 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.20 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.33 | +0.07 |
Correlation
The correlation between QSMLX and XSHQ is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
QSMLX vs. XSHQ - Dividend Comparison
QSMLX's dividend yield for the trailing twelve months is around 10.02%, more than XSHQ's 1.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QSMLX AQR Small Cap Multi-Style Fund | 10.02% | 10.31% | 13.88% | 6.74% | 0.87% | 6.13% | 1.77% | 0.97% | 13.57% | 10.71% | 2.53% | 0.22% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.49% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% | 0.00% | 0.00% |
Drawdowns
QSMLX vs. XSHQ - Drawdown Comparison
The maximum QSMLX drawdown since its inception was -44.38%, which is greater than XSHQ's maximum drawdown of -38.33%. Use the drawdown chart below to compare losses from any high point for QSMLX and XSHQ.
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Drawdown Indicators
| QSMLX | XSHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.38% | -38.33% | -6.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.18% | -13.48% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -30.21% | -27.34% | -2.87% |
Max Drawdown (10Y)Largest decline over 10 years | -44.38% | — | — |
Current DrawdownCurrent decline from peak | -6.27% | -9.02% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -9.47% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 4.34% | -1.05% |
Volatility
QSMLX vs. XSHQ - Volatility Comparison
AQR Small Cap Multi-Style Fund (QSMLX) has a higher volatility of 7.62% compared to Invesco S&P SmallCap Quality ETF (XSHQ) at 5.90%. This indicates that QSMLX's price experiences larger fluctuations and is considered to be riskier than XSHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QSMLX | XSHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 5.90% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 14.88% | 12.67% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.82% | 21.56% | +1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 21.34% | +1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.16% | 23.26% | -0.10% |