QUS vs. BERZ

Last updated Jun 24, 2026

QUS (SPDR MSCI USA StrategicFactors ETF) and BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) are both exchange-traded funds - QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD), while BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index. Both are passively managed. Over the past 3 years, QUS returned 16.79%/yr vs -74.69%/yr for BERZ. At a correlation of -0.74, they often move in opposite directions. QUS charges 0.15%/yr vs 0.95%/yr for BERZ.

Performance

QUS vs. BERZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA StrategicFactors ETF (QUS) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QUS achieves a 5.81% return, which is significantly higher than BERZ's -55.66% return.

QUS

• 1D: -0.23%
• 1M: -1.12%
• YTD: 5.81%
• 6M: 5.18%
• 1Y: 16.61%
• 3Y*: 16.79%
• 5Y*: 10.77%
• 10Y*: 13.70%

BERZ

• 1D: 11.73%
• 1M: 4.71%
• YTD: -55.66%
• 6M: -53.62%
• 1Y: -80.66%
• 3Y*: -74.69%
• 5Y*: —
• 10Y*: —

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

QUS vs. BERZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QUS SPDR MSCI USA StrategicFactors ETF	5.81%	14.13%	18.99%	21.78%	-14.15%	5.78%
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	-55.66%	-78.81%	-65.95%	-89.12%	102.85%	-28.36%

Correlation

The correlation between QUS and BERZ is -0.53, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.53
Correlation (3Y) Calculated over the trailing 3-year period	-0.64
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021	-0.74

Over the past year, the inverse relationship between QUS and BERZ has weakened: their correlation has moved from -0.74 to -0.53, meaning they move in opposite directions less often than they have historically.

QUS vs. BERZ - Sectors Allocation Comparison

Sectors	QUS	BERZ
Technology	29.2%	60.8%
Financial Services	14.0%	13.3%
Healthcare	13.4%	-
Communication Services	9.9%	26.2%
Consumer Defensive	8.7%	-
Industrials	8.2%	-
Consumer Cyclical	5.5%	13.0%
Energy	4.2%	-
Utilities	3.4%	-
Basic Materials	2.2%	-
Real Estate	1.3%	-

Return for Risk

QUS vs. BERZ — Risk / Return Rank

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

QUS

QUS Risk / Return Rank: 57
QUS Sharpe Ratio Rank: 57
QUS Sortino Ratio Rank: 57
QUS Omega Ratio Rank: 55
QUS Calmar Ratio Rank: 52
QUS Martin Ratio Rank: 63

BERZ

BERZ Risk / Return Rank: 1
BERZ Sharpe Ratio Rank: 1
BERZ Sortino Ratio Rank: 0
BERZ Omega Ratio Rank: 0
BERZ Calmar Ratio Rank: 1
BERZ Martin Ratio Rank: 1

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.

QUS vs. BERZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA StrategicFactors ETF (QUS) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ). 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.

	QUS	BERZ	Difference
Sharpe ratio: Return per unit of total volatility	1.81	-0.99	+2.81
Sortino ratio: Return per unit of downside risk	2.58	-2.23	+4.81
Omega ratio: Gain probability vs. loss probability	1.32	0.77	+0.56
Calmar ratio: Return relative to maximum drawdown	2.43	-0.96	+3.39
Martin ratio: Return relative to average drawdown	10.76	-1.56	+12.32

QUS vs. BERZ - Sharpe Ratio Comparison

The current QUS Sharpe Ratio is 1.81, which is higher than the BERZ Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of QUS and BERZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QUS vs. BERZ - Drawdown Comparison

The maximum QUS drawdown since its inception was -33.78%, smaller than the maximum BERZ drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for QUS and BERZ.

Drawdown Indicators

	QUS	BERZ	Difference
Max Drawdown Largest peak-to-trough decline	-33.78%	-99.80%	+66.02%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-84.60%	+77.75%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-98.87%	+84.93%
Max Drawdown (5Y) Largest decline over 5 years	-22.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	—	—
Current Drawdown Current decline from peak	-1.84%	-99.73%	+97.89%
Average Drawdown Average peak-to-trough decline	-3.69%	-71.81%	+68.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	54.31%	-52.76%

Volatility

QUS vs. BERZ - Volatility Comparison

The current volatility for SPDR MSCI USA StrategicFactors ETF (QUS) is 2.84%, while MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a volatility of 34.10%. This indicates that QUS experiences smaller price fluctuations and is considered to be less risky than BERZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUS	BERZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	34.10%	-31.26%
Volatility (6M) Calculated over the trailing 6-month period	6.98%	63.77%	-56.79%
Volatility (1Y) Calculated over the trailing 1-year period	9.24%	81.37%	-72.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	92.80%	-78.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.43%	92.80%	-76.37%

QUS vs. BERZ - Expense Ratio Comparison

QUS has a 0.15% expense ratio, which is lower than BERZ's 0.95% expense ratio.

Dividends

QUS vs. BERZ - Dividend Comparison

QUS's dividend yield for the trailing twelve months is around 1.32%, while BERZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QUS SPDR MSCI USA StrategicFactors ETF	1.32%	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

Can I hold both QUS and BERZ in my portfolio?

QUS and BERZ have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUS or BERZ?

BERZ has higher volatility (34.10%) compared to QUS (2.84%). In terms of maximum drawdown, QUS dropped -33.78% vs BERZ's -99.80%.

Which ETF is better, QUS or BERZ?

On 3-year performance, QUS leads with 16.79% vs -74.69% for BERZ. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUS or BERZ?

Over the 3-year period, QUS has performed better with a 16.79% return vs -74.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUS or BERZ?

QUS is cheaper with a 0.15% expense ratio, compared with 0.95% for BERZ.

Which ETF pays a higher dividend yield, QUS or BERZ?

QUS has the higher dividend yield at 1.32%, compared with 0.00% for BERZ.

What is the main difference between QUS and BERZ?

QUS is categorized as Large Cap Growth Equities, while BERZ is Inverse Equities. QUS tracks MSCI USA Factor Mix A-Series Capped (USD), while BERZ tracks Solactive FANG Innovation Index. They also come from different issuers: State Street and BMO. Their fees differ too: 0.15% for QUS and 0.95% for BERZ.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.81 vs -0.99), 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.