QUS vs. EQL

Last updated Aug 4, 2026

QUS (State Street SPDR MSCI USA StrategicFactors ETF) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds - QUS tracks the MSCI USA Factor Mix A-Series Capped Index while EQL tracks the NYSE Equal Sector Weight Index. Both are passively managed. Over the past 10 years, QUS returned 13.54%/yr vs 12.40%/yr for EQL. Their correlation of 0.86 means they have usually moved in the same direction. QUS charges 0.15%/yr vs 0.27%/yr for EQL.

Performance

QUS vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR MSCI USA StrategicFactors ETF (QUS) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QUS achieves a 10.23% return, which is significantly lower than EQL's 11.79% return. Over the past 10 years, QUS has outperformed EQL with an annualized return of 13.54%, while EQL has yielded a comparatively lower 12.40% annualized return.

QUS

• 1D: 0.83%
• 1M: 1.29%
• 6M: 7.60%
• YTD: 10.23%
• 1Y: 19.80%
• 3Y*: 17.10%
• 5Y*: 10.91%
• 10Y*: 13.54%
• ALL TIME*: 12.75%

EQL

• 1D: 0.98%
• 1M: 1.30%
• 6M: 7.57%
• YTD: 11.79%
• 1Y: 19.50%
• 3Y*: 15.68%
• 5Y*: 10.87%
• 10Y*: 12.40%
• ALL TIME*: 13.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EQL ALPS Equal Sector Weight ETF	$3.24M	$2.89M	$2.73M
QUS State Street SPDR MSCI USA StrategicFactors ETF	$3.01M	$4.81M	$3.43M

QUS vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QUS State Street SPDR MSCI USA StrategicFactors ETF	10.23%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	21.67%
EQL ALPS Equal Sector Weight ETF	11.79%	13.09%	16.44%	16.87%	-10.72%	29.32%	10.87%	27.87%	-6.12%	18.37%

Correlation

The correlation between QUS and EQL is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015	0.86

The correlation between QUS and EQL has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

QUS vs. EQL - Sectors Allocation Comparison

Sectors	QUS	EQL
Technology	28.4%	10.2%
Financial Services	15.7%	9.1%
Healthcare	14.4%	9.4%
Consumer Defensive	8.3%	8.8%
Communication Services	8.2%	8.9%
Industrials	8.1%	9.3%
Consumer Cyclical	5.7%	9.6%
Utilities	3.9%	9.4%
Energy	3.3%	8.7%
Basic Materials	2.2%	8.0%
Real Estate	1.6%	8.7%

Return for Risk

QUS vs. EQL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QUS

QUS Risk / Return Rank: 85
QUS Sharpe Ratio Rank: 87
QUS Sortino Ratio Rank: 88
QUS Omega Ratio Rank: 86
QUS Calmar Ratio Rank: 78
QUS Martin Ratio Rank: 86

EQL

EQL Risk / Return Rank: 85
EQL Sharpe Ratio Rank: 86
EQL Sortino Ratio Rank: 85
EQL Omega Ratio Rank: 85
EQL Calmar Ratio Rank: 83
EQL Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QUS vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI USA StrategicFactors ETF (QUS) and ALPS Equal Sector Weight ETF (EQL). 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	EQL	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.07	+0.09
Sortino ratio: Return per unit of downside risk	3.05	2.89	+0.16
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	2.90	3.16	-0.26
Martin ratio: Return relative to average drawdown	12.95	12.39	+0.56

QUS vs. EQL - Sharpe Ratio Comparison

The current QUS Sharpe Ratio is 2.16, which is comparable to the EQL Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of QUS and EQL, 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. EQL - Drawdown Comparison

The maximum QUS drawdown since its inception was -33.78%, smaller than the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for QUS and EQL.

Drawdown Indicators

	QUS	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-33.78%	-35.65%	+1.87%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-6.19%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-15.07%	+1.13%
Max Drawdown (5Y) Largest decline over 5 years	-22.30%	-19.24%	-3.06%
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	-35.65%	+1.87%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.66%	-3.23%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.58%	-0.05%

Volatility

QUS vs. EQL - Volatility Comparison

State Street SPDR MSCI USA StrategicFactors ETF (QUS) has a higher volatility of 2.42% compared to ALPS Equal Sector Weight ETF (EQL) at 2.29%. This indicates that QUS's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QUS	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	2.29%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	7.09%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	9.22%	9.47%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	14.52%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	16.49%	-0.09%

QUS vs. EQL - Expense Ratio Comparison

QUS has a 0.15% expense ratio, which is lower than EQL's 0.27% 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

QUS vs. EQL - Dividend Comparison

QUS's dividend yield for the trailing twelve months is around 1.27%, less than EQL's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.34%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
QUS State Street SPDR MSCI USA StrategicFactors ETF	1.27%	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 EQL in my portfolio?

QUS and EQL have a correlation of 0.88, 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 EQL?

QUS has higher volatility (2.42%) compared to EQL (2.29%). In terms of maximum drawdown, QUS dropped -33.78% vs EQL's -35.65%.

Which ETF is better, QUS or EQL?

On 10-year performance, QUS leads with 13.54% vs 12.40% for EQL. On fees, QUS is cheaper at 0.15% per year. On volatility, EQL has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUS or EQL?

Over the 10-year period, QUS has performed better with a 13.54% return vs 12.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUS or EQL?

QUS is cheaper with a 0.15% expense ratio, compared with 0.27% for EQL.

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

EQL has the higher dividend yield at 1.34%, compared with 1.27% for QUS.

What is the main difference between QUS and EQL?

QUS tracks MSCI USA Factor Mix A-Series Capped Index, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: State Street and SS&C. Their fees differ too: 0.15% for QUS and 0.27% for EQL.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (2.16 vs 2.07), 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.