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QTUM vs. SPAXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QTUM vs. SPAXX

Last updated Jun 14, 2026

QTUM (Defiance Quantum ETF) and SPAXX (Fidelity Government Money Market Fund) are both funds - QTUM is a Technology Equities fund tracking the BlueStar Machine Learning and Quantum Computing Index, while SPAXX is a Money Market fund actively managed by Fidelity. QTUM is passively managed, while SPAXX is actively managed. Over the past 5 years, QTUM returned 28.09%/yr vs 1.45%/yr for SPAXX. At a correlation of -0.01, they often move in opposite directions. QTUM charges 0.40%/yr vs 0.42%/yr for SPAXX.

Performance

QTUM vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Quantum ETF (QTUM) and Fidelity Government Money Market Fund (SPAXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QTUM achieves a 47.39% return, which is significantly higher than SPAXX's 1.37% return.

QTUM

1D
1.22%
1M
9.07%
YTD
47.39%
6M
45.72%
1Y
86.28%
3Y*
48.15%
5Y*
28.09%
10Y*
—

SPAXX

1D
0.00%
1M
0.28%
YTD
1.37%
6M
1.67%
1Y
3.66%
3Y*
2.42%
5Y*
1.45%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QTUM vs. SPAXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
QTUM
Defiance Quantum ETF		47.39%36.65%50.54%39.86%-28.80%19.04%
SPAXX
Fidelity Government Money Market Fund		1.37%3.96%1.54%0.41%0.00%0.00%

Correlation

The correlation between QTUM and SPAXX is -0.01, 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

-0.01

Correlation (3Y)
Calculated over the trailing 3-year period

-0.02

Correlation (5Y)
Calculated over the trailing 5-year period

-0.01

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

-0.01

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Defiance Quantum ETF

Fidelity Government Money Market Fund

Often compared with QTUM:
QTUM vs. QNTMQTUM vs. IONQQTUM vs. ARKQQTUM vs. FTECQTUM vs. WQTM.DEQTUM vs. RGTIQTUM vs. SCHD
Often compared with SPAXX:
SPAXX vs. SGOVSPAXX vs. VMFXXSPAXX vs. SNSXXSPAXX vs. SWVXXSPAXX vs. BILSPAXX vs. BNDSPAXX vs. TFLO

Return for Risk

QTUM vs. SPAXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QTUM
QTUM Risk / Return Rank: 9090
Overall Rank
QTUM Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
QTUM Sortino Ratio Rank: 8787
Sortino Ratio Rank
QTUM Omega Ratio Rank: 8787
Omega Ratio Rank
QTUM Calmar Ratio Rank: 9292
Calmar Ratio Rank
QTUM Martin Ratio Rank: 9292
Martin Ratio Rank
SPAXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QTUM vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Quantum ETF (QTUM) and Fidelity Government Money Market Fund (SPAXX). 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.

QTUMSPAXXDifference
Sharpe ratioReturn per unit of total volatility
2.94
3.65

-0.71

Sortino ratioReturn per unit of downside risk
3.45

—

—

Omega ratioGain probability vs. loss probability

1.46

—

—

Calmar ratioReturn relative to maximum drawdown

5.46

—

—

Martin ratioReturn relative to average drawdown

19.77

—

—

QTUM vs. SPAXX - Sharpe Ratio Comparison

The current QTUM Sharpe Ratio is 2.94, which is comparable to the SPAXX Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of QTUM and SPAXX, 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

QTUM vs. SPAXX - Drawdown Comparison

The maximum QTUM drawdown since its inception was -38.45%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QTUM and SPAXX.

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Drawdown Indicators

QTUMSPAXXDifference

Max Drawdown

Largest peak-to-trough decline

-38.45%

0.00%

-38.45%

Max Drawdown (1Y)

Largest decline over 1 year

-15.26%

0.00%

-15.26%

Max Drawdown (3Y)

Largest decline over 3 years

-25.39%

0.00%

-25.39%

Max Drawdown (5Y)

Largest decline over 5 years

-38.45%

0.00%

-38.45%

Current Drawdown

Current decline from peak

-4.42%

0.00%

-4.42%

Average Drawdown

Average peak-to-trough decline

-8.24%

0.00%

-8.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.21%

0.00%

+4.21%

Volatility

QTUM vs. SPAXX - Volatility Comparison

Defiance Quantum ETF (QTUM) has a higher volatility of 14.18% compared to Fidelity Government Money Market Fund (SPAXX) at 0.28%. This indicates that QTUM's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QTUMSPAXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.18%

0.28%

+13.90%

Volatility (6M)

Calculated over the trailing 6-month period

23.17%

0.66%

+22.51%

Volatility (1Y)

Calculated over the trailing 1-year period

28.39%

1.03%

+27.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.99%

0.69%

+26.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.40%

0.69%

+26.71%

QTUM vs. SPAXX - Expense Ratio Comparison

QTUM has a 0.40% expense ratio, which is lower than SPAXX's 0.42% expense ratio.

Dividends

QTUM vs. SPAXX - Dividend Comparison

QTUM's dividend yield for the trailing twelve months is around 0.73%, less than SPAXX's 3.59% yield.

PositionTTM20252024202320222021202020192018
QTUM
Defiance Quantum ETF		0.73%1.01%0.61%0.81%1.46%0.48%0.42%0.61%0.21%
SPAXX
Fidelity Government Money Market Fund		3.59%3.88%1.53%0.41%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

QTUM and SPAXX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QTUM has higher volatility (14.18%) compared to SPAXX (0.28%). In terms of maximum drawdown, QTUM dropped -38.45% vs SPAXX's 0.00%.

SPAXX currently has the higher Sharpe Ratio (3.65 vs 2.94), 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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