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QUAL vs. IUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUAL vs. IUS

Last updated Jun 4, 2026

QUAL (iShares MSCI USA Quality Factor ETF) and IUS (Invesco RAFI Strategic US ETF) are both Large Cap Blend Equities funds - QUAL tracks the MSCI USA Sector Neutral Quality Index while IUS tracks the Invesco Strategic US Index. Both are passively managed. Over the past 5 years, QUAL returned 11.96%/yr vs 13.61%/yr for IUS. Their correlation of 0.85 suggests significant overlap in exposure. QUAL charges 0.15%/yr vs 0.19%/yr for IUS.

Performance

QUAL vs. IUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality Factor ETF (QUAL) and Invesco RAFI Strategic US ETF (IUS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QUAL achieves a 8.80% return, which is significantly lower than IUS's 15.71% 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%

IUS

1D
-0.07%
1M
4.89%
YTD
15.71%
6M
15.69%
1Y
33.27%
3Y*
20.93%
5Y*
13.61%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUAL vs. IUS - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
QUAL
iShares MSCI USA Quality Factor ETF		8.80%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-13.66%
IUS
Invesco RAFI Strategic US ETF		15.71%16.94%16.51%20.79%-8.34%32.17%15.09%29.34%-12.49%

Correlation

The correlation between QUAL and IUS is 0.89, 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

0.89

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

0.88

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

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 13, 2018

0.85

The correlation between QUAL and IUS has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

QUAL vs. IUS - Sectors Allocation Comparison

Sectors
QUAL
IUS

Technology

36.5%
22.4%

Financial Services

11.5%
6.8%

Communication Services

11.1%
14.7%

Consumer Cyclical

9.3%
10.7%

Healthcare

9.0%
12.8%

Industrials

8.2%
9.7%

Consumer Defensive

4.9%
7.4%

Energy

4.0%
10.9%

Utilities

1.9%
1.0%

Real Estate

1.8%
0.5%

Basic Materials

1.7%
3.3%

Technology

QUAL
36.5%
IUS
22.4%

Financial Services

QUAL
11.5%
IUS
6.8%

Communication Services

QUAL
11.1%
IUS
14.7%

Consumer Cyclical

QUAL
9.3%
IUS
10.7%

Healthcare

QUAL
9.0%
IUS
12.8%

Industrials

QUAL
8.2%
IUS
9.7%

Consumer Defensive

QUAL
4.9%
IUS
7.4%

Energy

QUAL
4.0%
IUS
10.9%

Utilities

QUAL
1.9%
IUS
1.0%

Real Estate

QUAL
1.8%
IUS
0.5%

Basic Materials

QUAL
1.7%
IUS
3.3%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Quality Factor ETF

Invesco RAFI Strategic US ETF

Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD
Often compared with IUS:
IUS vs. EPSIUS vs. BSIIXIUS vs. IUSGIUS vs. QLVIUS vs. SCHDIUS vs. XLKIUS vs. FMDE

Return for Risk

QUAL vs. IUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUAL
QUAL Risk / Return Rank: 5353
Overall Rank
QUAL Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 5353
Sortino Ratio Rank
QUAL Omega Ratio Rank: 5151
Omega Ratio Rank
QUAL Calmar Ratio Rank: 4848
Calmar Ratio Rank
QUAL Martin Ratio Rank: 6060
Martin Ratio Rank
IUS
IUS Risk / Return Rank: 9191
Overall Rank
IUS Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
IUS Sortino Ratio Rank: 9292
Sortino Ratio Rank
IUS Omega Ratio Rank: 9090
Omega Ratio Rank
IUS Calmar Ratio Rank: 8989
Calmar Ratio Rank
IUS Martin Ratio Rank: 9292
Martin Ratio Rank
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. IUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) and Invesco RAFI Strategic US ETF (IUS). 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.

QUALIUSDifference
Sharpe ratioReturn per unit of total volatility
1.84
3.26

-1.42

Sortino ratioReturn per unit of downside risk
2.62
4.53

-1.91

Omega ratioGain probability vs. loss probability

1.32

1.60

-0.27

Calmar ratioReturn relative to maximum drawdown

2.41

5.44

-3.03

Martin ratioReturn relative to average drawdown

11.00

23.27

-12.27

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. IUS - Sharpe Ratio Comparison

The current QUAL Sharpe Ratio is 1.84, which is lower than the IUS Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of QUAL and IUS, 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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Sharpe Ratios by Period

QUALIUSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.84

3.26

-1.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.91

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.85

-0.05

Drawdowns

QUAL vs. IUS - Drawdown Comparison

The maximum QUAL drawdown since its inception was -34.06%, roughly equal to the maximum IUS drawdown of -34.67%. Use the drawdown chart below to compare losses from any high point for QUAL and IUS.

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Drawdown Indicators

QUALIUSDifference

Max Drawdown

Largest peak-to-trough decline

-34.06%

-34.67%

+0.61%

Max Drawdown (1Y)

Largest decline over 1 year

-9.03%

-6.15%

-2.88%

Max Drawdown (3Y)

Largest decline over 3 years

-18.00%

-15.61%

-2.39%

Max Drawdown (5Y)

Largest decline over 5 years

-28.23%

-18.72%

-9.51%

Max Drawdown (10Y)

Largest decline over 10 years

-34.06%

—

—

Current Drawdown

Current decline from peak

-0.16%

-0.07%

-0.09%

Average Drawdown

Average peak-to-trough decline

-4.11%

-3.86%

-0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.43%

+0.55%

Volatility

QUAL vs. IUS - Volatility Comparison

iShares MSCI USA Quality Factor ETF (QUAL) and Invesco RAFI Strategic US ETF (IUS) have volatilities of 2.51% and 2.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUALIUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.51%

2.50%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

9.03%

7.41%

+1.62%

Volatility (1Y)

Calculated over the trailing 1-year period

11.83%

10.26%

+1.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.33%

15.00%

+2.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.10%

18.04%

+0.06%

QUAL vs. IUS - Expense Ratio Comparison

QUAL has a 0.15% expense ratio, which is lower than IUS's 0.19% expense ratio. Despite the difference, 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. IUS - Dividend Comparison

QUAL's dividend yield for the trailing twelve months is around 0.88%, less than IUS's 1.28% yield.

PositionTTM20252024202320222021202020192018201720162015
IUS
Invesco RAFI Strategic US ETF		1.28%1.48%1.52%1.72%1.78%1.46%1.74%1.77%0.73%0.00%0.00%0.00%
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

QUAL and IUS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUAL has higher volatility (2.51%) compared to IUS (2.50%). In terms of maximum drawdown, QUAL dropped -34.06% vs IUS's -34.67%.

On 5-year performance, IUS leads with 13.61% vs 11.96% for QUAL. On fees, QUAL is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IUS has performed better with a 13.61% return vs 11.96%. 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 0.19% for IUS.

IUS has the higher dividend yield at 1.28%, compared with 0.88% for QUAL.

QUAL tracks MSCI USA Sector Neutral Quality Index, while IUS tracks Invesco Strategic US Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for QUAL and 0.19% for IUS.

IUS currently has the higher Sharpe Ratio (3.26 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.

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