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QUAL vs. QUS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QUAL vs. QUS

Last updated Jun 4, 2026

QUAL (iShares MSCI USA Quality Factor ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both exchange-traded funds - QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index, while QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 10 years, QUAL returned 14.27%/yr vs 13.67%/yr for QUS. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

QUAL vs. QUS - Performance Comparison

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

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Returns By Period

In the year-to-date period, QUAL achieves a 8.80% return, which is significantly higher than QUS's 6.67% return. Both investments have delivered pretty close results over the past 10 years, with QUAL having a 14.27% annualized return and QUS not far behind at 13.67%.

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%

QUS

1D
-0.43%
1M
2.68%
YTD
6.67%
6M
6.93%
1Y
17.65%
3Y*
17.53%
5Y*
11.08%
10Y*
13.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QUAL vs. QUS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
QUS
SPDR MSCI USA StrategicFactors ETF		6.67%14.13%18.99%21.78%-14.15%26.72%12.40%32.45%-3.66%21.67%

Correlation

The correlation between QUAL and QUS is 0.92, 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

0.92

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

0.93

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

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2015

0.88

The correlation between QUAL and QUS has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.

QUAL vs. QUS - Sectors Allocation Comparison

Sectors
QUAL
QUS

Technology

36.5%
26.3%

Financial Services

11.5%
14.6%

Communication Services

11.1%
10.2%

Consumer Cyclical

9.3%
5.8%

Healthcare

9.0%
13.4%

Industrials

8.2%
8.6%

Consumer Defensive

4.9%
9.2%

Energy

4.0%
4.6%

Utilities

1.9%
3.6%

Real Estate

1.8%
1.4%

Basic Materials

1.7%
2.3%

Technology

QUAL
36.5%
QUS
26.3%

Financial Services

QUAL
11.5%
QUS
14.6%

Communication Services

QUAL
11.1%
QUS
10.2%

Consumer Cyclical

QUAL
9.3%
QUS
5.8%

Healthcare

QUAL
9.0%
QUS
13.4%

Industrials

QUAL
8.2%
QUS
8.6%

Consumer Defensive

QUAL
4.9%
QUS
9.2%

Energy

QUAL
4.0%
QUS
4.6%

Utilities

QUAL
1.9%
QUS
3.6%

Real Estate

QUAL
1.8%
QUS
1.4%

Basic Materials

QUAL
1.7%
QUS
2.3%

Compare stocks, funds, or ETFs

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iShares MSCI USA Quality Factor ETF

SPDR MSCI USA StrategicFactors ETF

Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD
Often compared with QUS:
QUS vs. IVVQUS vs. SPYQUS vs. JQUAQUS vs. VOOQUS vs. DGTQUS vs. BERZQUS vs. QVML

Return for Risk

QUAL vs. QUS — 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
QUS
QUS Risk / Return Rank: 5757
Overall Rank
QUS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 5858
Sortino Ratio Rank
QUS Omega Ratio Rank: 5555
Omega Ratio Rank
QUS Calmar Ratio Rank: 5252
Calmar Ratio Rank
QUS Martin Ratio Rank: 6363
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. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) and SPDR MSCI USA StrategicFactors ETF (QUS). 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.

QUALQUSDifference
Sharpe ratioReturn per unit of total volatility
1.84
1.95

-0.11

Sortino ratioReturn per unit of downside risk
2.62
2.81

-0.18

Omega ratioGain probability vs. loss probability

1.32

1.35

-0.02

Calmar ratioReturn relative to maximum drawdown

2.41

2.59

-0.18

Martin ratioReturn relative to average drawdown

11.00

11.54

-0.54

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. QUS - Sharpe Ratio Comparison

The current QUAL Sharpe Ratio is 1.84, which is comparable to the QUS Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QUAL and QUS, 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

QUALQUSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.84

1.95

-0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.78

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.83

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.77

+0.03

Drawdowns

QUAL vs. QUS - Drawdown Comparison

The maximum QUAL drawdown since its inception was -34.06%, roughly equal to the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for QUAL and QUS.

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Drawdown Indicators

QUALQUSDifference

Max Drawdown

Largest peak-to-trough decline

-34.06%

-33.78%

-0.28%

Max Drawdown (1Y)

Largest decline over 1 year

-9.03%

-6.85%

-2.18%

Max Drawdown (3Y)

Largest decline over 3 years

-18.00%

-13.94%

-4.06%

Max Drawdown (5Y)

Largest decline over 5 years

-28.23%

-22.30%

-5.93%

Max Drawdown (10Y)

Largest decline over 10 years

-34.06%

-33.78%

-0.28%

Current Drawdown

Current decline from peak

-0.16%

-0.50%

+0.34%

Average Drawdown

Average peak-to-trough decline

-4.11%

-3.70%

-0.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

1.53%

+0.45%

Volatility

QUAL vs. QUS - Volatility Comparison

iShares MSCI USA Quality Factor ETF (QUAL) has a higher volatility of 2.51% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 1.78%. This indicates that QUAL's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUALQUSDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.51%

1.78%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

9.03%

6.66%

+2.37%

Volatility (1Y)

Calculated over the trailing 1-year period

11.83%

9.09%

+2.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.33%

14.33%

+3.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.10%

16.42%

+1.68%

QUAL vs. QUS - Expense Ratio Comparison

Both QUAL and QUS have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QUAL vs. QUS - Dividend Comparison

QUAL's dividend yield for the trailing twelve months is around 0.88%, less than QUS's 1.31% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QUS
SPDR MSCI USA StrategicFactors ETF		1.31%1.38%1.49%1.57%1.68%1.27%1.73%1.81%2.12%1.86%2.07%1.48%

Frequently Asked Questions

With a correlation of 0.92, QUAL and QUS 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.

QUAL has higher volatility (2.51%) compared to QUS (1.78%). In terms of maximum drawdown, QUAL dropped -34.06% vs QUS's -33.78%.

On 10-year performance, QUAL leads with 14.27% vs 13.67% for QUS. Both ETFs have the same 0.15% expense ratio. On volatility, QUS has been the lower-risk option at 1.78%. 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 14.27% return vs 13.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUAL and QUS have the same expense ratio: 0.15% per year.

QUS has the higher dividend yield at 1.31%, compared with 0.88% for QUAL.

QUAL is categorized as Large Cap Blend Equities, while QUS is Large Cap Growth Equities. QUAL tracks MSCI USA Sector Neutral Quality Index, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). They also come from different issuers: iShares and State Street.

QUS currently has the higher Sharpe Ratio (1.95 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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