QUAL vs. IDHQ
QUAL (iShares MSCI USA Quality Factor ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both Quality Factor funds - QUAL tracks the MSCI USA Sector Neutral Quality Index while IDHQ tracks the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. Both are passively managed. Over the past 10 years, QUAL returned 14.16%/yr vs 10.76%/yr for IDHQ. Their 0.67 correlation means they have sometimes moved together and sometimes differently. QUAL charges 0.15%/yr vs 0.29%/yr for IDHQ.
Performance
QUAL vs. IDHQ - Performance Comparison
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Returns By Period
In the year-to-date period, QUAL achieves a 12.08% return, which is significantly lower than IDHQ's 27.25% return. Over the past 10 years, QUAL has outperformed IDHQ with an annualized return of 14.16%, while IDHQ has yielded a comparatively lower 10.76% annualized return.
QUAL
- 1D
- 1.10%
- 1M
- 1.52%
- 6M
- 9.27%
- YTD
- 12.08%
- 1Y
- 22.77%
- 3Y*
- 18.73%
- 5Y*
- 11.26%
- 10Y*
- 14.16%
- ALL TIME*
- 13.75%
IDHQ
- 1D
- 0.78%
- 1M
- 0.59%
- 6M
- 18.33%
- YTD
- 27.25%
- 1Y
- 42.41%
- 3Y*
- 20.69%
- 5Y*
- 9.61%
- 10Y*
- 10.76%
- ALL TIME*
- 5.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.00M | $6.33M | $5.63M | |
| $217.13M | $238.90M | $384.89M |
QUAL vs. IDHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QUAL iShares MSCI USA Quality Factor ETF | 12.08% | 12.65% | 22.29% | 30.88% | -20.50% | 26.94% | 17.04% | 33.89% | -5.70% | 22.26% |
IDHQ Invesco S&P International Developed High Quality ETF | 27.25% | 27.46% | 1.33% | 18.80% | -20.23% | 11.38% | 16.09% | 29.58% | -13.38% | 28.16% |
Correlation
The correlation between QUAL and IDHQ is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2013 | 0.67 |
The correlation between QUAL and IDHQ has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.
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Return for Risk
QUAL vs. IDHQ — Risk / Return Rank
QUAL
IDHQ
QUAL vs. IDHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) and Invesco S&P International Developed High Quality ETF (IDHQ). 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.
| QUAL | IDHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 3.17 | -0.64 |
| Martin ratioReturn relative to average drawdown | 11.33 | 12.70 | -1.37 |
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Drawdowns
QUAL vs. IDHQ - Drawdown Comparison
The maximum QUAL drawdown since its inception was -34.06%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for QUAL and IDHQ.
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Drawdown Indicators
| QUAL | IDHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.06% | -73.84% | +39.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.03% | -13.44% | +4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -18.00% | -14.07% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.23% | -33.54% | +5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -34.06% | -33.54% | -0.52% |
Current DrawdownCurrent decline from peak | 0.00% | -0.27% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -21.03% | +16.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 3.35% | -1.34% |
Volatility
QUAL vs. IDHQ - Volatility Comparison
The current volatility for iShares MSCI USA Quality Factor ETF (QUAL) is 3.07%, while Invesco S&P International Developed High Quality ETF (IDHQ) has a volatility of 4.02%. This indicates that QUAL experiences smaller price fluctuations and is considered to be less risky than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QUAL | IDHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 4.02% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 18.89% | -9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.33% | 20.72% | -8.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 17.86% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 17.98% | +0.12% |
QUAL vs. IDHQ - Expense Ratio Comparison
QUAL has a 0.15% expense ratio, which is lower than IDHQ's 0.29% expense ratio.
Dividends
QUAL vs. IDHQ - Dividend Comparison
QUAL's dividend yield for the trailing twelve months is around 0.85%, less than IDHQ's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDHQ Invesco S&P International Developed High Quality ETF | 1.99% | 2.46% | 2.41% | 2.52% | 3.33% | 2.10% | 1.60% | 2.10% | 2.67% | 1.68% | 2.36% | 1.71% |
QUAL iShares MSCI USA Quality Factor ETF | 0.85% | 0.94% | 1.02% | 1.23% | 1.59% | 1.20% | 1.39% | 1.60% | 2.00% | 1.76% | 1.96% | 1.63% |
Frequently Asked Questions
QUAL and IDHQ have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDHQ has higher volatility (4.02%) compared to QUAL (3.07%). In terms of maximum drawdown, QUAL dropped -34.06% vs IDHQ's -73.84%.
On 10-year performance, QUAL leads with 14.16% vs 10.76% for IDHQ. On fees, QUAL is cheaper at 0.15% per year. On volatility, QUAL has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QUAL has performed better with a 14.16% return vs 10.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QUAL is cheaper with a 0.15% expense ratio, compared with 0.29% for IDHQ.
IDHQ has the higher dividend yield at 1.99%, compared with 0.85% for QUAL.
QUAL tracks MSCI USA Sector Neutral Quality Index, while IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for QUAL and 0.29% for IDHQ.
IDHQ currently has the higher Sharpe Ratio (2.06 vs 1.86), 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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