QUAL vs. ITOT

Last updated Jun 4, 2026

QUAL (iShares MSCI USA Quality Factor ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds from iShares - QUAL tracks the MSCI USA Sector Neutral Quality Index while ITOT tracks the S&P Total Market Index. Both are passively managed. Over the past 10 years, QUAL returned 14.27%/yr vs 15.01%/yr for ITOT. With a 0.96 correlation, they move nearly in lockstep. QUAL charges 0.15%/yr vs 0.03%/yr for ITOT.

Performance

QUAL vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality Factor ETF (QUAL) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QUAL achieves a 8.80% return, which is significantly lower than ITOT's 11.25% return. Over the past 10 years, QUAL has underperformed ITOT with an annualized return of 14.27%, while ITOT has yielded a comparatively higher 15.01% annualized return.

QUAL

• 1D: -0.07%
• 1M: 4.62%
• YTD: 8.80%
• 6M: 8.86%
• 1Y: 21.68%
• 3Y*: 19.66%
• 5Y*: 11.96%
• 10Y*: 14.27%

ITOT

• 1D: -0.73%
• 1M: 5.01%
• YTD: 11.25%
• 6M: 11.12%
• 1Y: 28.12%
• 3Y*: 22.09%
• 5Y*: 12.69%
• 10Y*: 15.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QUAL vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QUAL iShares MSCI USA Quality Factor ETF	8.80%	12.65%	22.29%	30.88%	-20.50%	26.94%	17.04%	33.89%	-5.70%	22.26%
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.25%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%

Correlation

The correlation between QUAL and ITOT is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 19, 2013	0.96

The correlation between QUAL and ITOT has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

QUAL vs. ITOT - Sectors Allocation Comparison

Sectors	QUAL	ITOT
Technology	36.5%	33.8%
Financial Services	11.5%	12.1%
Communication Services	11.1%	10.3%
Consumer Cyclical	9.3%	10.1%
Healthcare	9.0%	9.0%
Industrials	8.2%	9.5%
Consumer Defensive	4.9%	4.7%
Energy	4.0%	3.7%
Utilities	1.9%	2.3%
Real Estate	1.8%	2.4%
Basic Materials	1.7%	2.1%

Return for Risk

QUAL vs. ITOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QUAL

QUAL Risk / Return Rank: 53
QUAL Sharpe Ratio Rank: 53
QUAL Sortino Ratio Rank: 53
QUAL Omega Ratio Rank: 51
QUAL Calmar Ratio Rank: 48
QUAL Martin Ratio Rank: 60

ITOT

ITOT Risk / Return Rank: 68
ITOT Sharpe Ratio Rank: 69
ITOT Sortino Ratio Rank: 68
ITOT Omega Ratio Rank: 67
ITOT Calmar Ratio Rank: 63
ITOT Martin Ratio Rank: 75

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.

QUAL vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	QUAL	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.32	-0.48
Sortino ratio: Return per unit of downside risk	2.62	3.17	-0.55
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.09
Calmar ratio: Return relative to maximum drawdown	2.41	3.17	-0.76
Martin ratio: Return relative to average drawdown	11.00	14.57	-3.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUAL vs. ITOT - Sharpe Ratio Comparison

The current QUAL Sharpe Ratio is 1.84, which is comparable to the ITOT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of QUAL and ITOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QUAL	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.32	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.74	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.82	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.57	+0.23

Drawdowns

QUAL vs. ITOT - Drawdown Comparison

The maximum QUAL drawdown since its inception was -34.06%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for QUAL and ITOT.

Drawdown Indicators

	QUAL	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-34.06%	-55.20%	+21.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-8.90%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-18.00%	-19.44%	+1.44%
Max Drawdown (5Y) Largest decline over 5 years	-28.23%	-25.36%	-2.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.06%	-35.00%	+0.94%
Current Drawdown Current decline from peak	-0.16%	-0.73%	+0.57%
Average Drawdown Average peak-to-trough decline	-4.11%	-6.97%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.94%	+0.04%

Volatility

QUAL vs. ITOT - Volatility Comparison

The current volatility for iShares MSCI USA Quality Factor ETF (QUAL) is 2.51%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 2.99%. This indicates that QUAL experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUAL	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	2.99%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	9.13%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.83%	12.20%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.33%	17.36%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	18.26%	-0.16%

QUAL vs. ITOT - Expense Ratio Comparison

QUAL has a 0.15% expense ratio, which is higher than ITOT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QUAL vs. ITOT - Dividend Comparison

QUAL's dividend yield for the trailing twelve months is around 0.88%, less than ITOT's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.98%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
QUAL iShares MSCI USA Quality Factor ETF	0.88%	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

Can I hold both QUAL and ITOT in my portfolio?

With a correlation of 0.94, QUAL and ITOT 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.

Which is riskier, QUAL or ITOT?

ITOT has higher volatility (2.99%) compared to QUAL (2.51%). In terms of maximum drawdown, QUAL dropped -34.06% vs ITOT's -55.20%.

Which ETF is better, QUAL or ITOT?

On 10-year performance, ITOT leads with 15.01% vs 14.27% for QUAL. On fees, ITOT is cheaper at 0.03% per year. On volatility, QUAL has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUAL or ITOT?

Over the 10-year period, ITOT has performed better with a 15.01% return vs 14.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUAL or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.15% for QUAL.

Which ETF pays a higher dividend yield, QUAL or ITOT?

ITOT has the higher dividend yield at 0.98%, compared with 0.88% for QUAL.

What is the main difference between QUAL and ITOT?

QUAL tracks MSCI USA Sector Neutral Quality Index, while ITOT tracks S&P Total Market Index. Their fees differ too: 0.15% for QUAL and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.32 vs 1.84), 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.