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QUS vs. FPX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QUS vs. FPX

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI USA StrategicFactors ETF (QUS) and First Trust US Equity Opportunities ETF (FPX).

QUS and FPX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QUS is a passively managed fund by State Street that tracks the performance of the MSCI USA Factor Mix A-Series Capped (USD). It was launched on Apr 16, 2015. FPX is a passively managed fund by First Trust that tracks the performance of the IPOX-100 U.S. Index. It was launched on Apr 12, 2006. Both QUS and FPX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QUS vs. FPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA StrategicFactors ETF (QUS) and First Trust US Equity Opportunities ETF (FPX). The values are adjusted to include any dividend payments, if applicable.

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QUS vs. FPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QUS
SPDR MSCI USA StrategicFactors ETF		-1.46%14.13%18.99%21.78%-14.15%26.72%12.40%32.45%-3.66%21.67%
FPX
First Trust US Equity Opportunities ETF		-2.88%37.62%24.75%22.26%-35.11%3.69%47.89%30.37%-8.35%27.03%

Returns By Period

In the year-to-date period, QUS achieves a -1.46% return, which is significantly higher than FPX's -2.88% return. Both investments have delivered pretty close results over the past 10 years, with QUS having a 12.88% annualized return and FPX not far behind at 12.79%.

QUS

1D
1.86%
1M
-5.02%
YTD
-1.46%
6M
1.09%
1Y
11.14%
3Y*
15.75%
5Y*
10.55%
10Y*
12.88%

FPX

1D
4.38%
1M
-4.68%
YTD
-2.88%
6M
-4.25%
1Y
42.94%
3Y*
23.97%
5Y*
5.98%
10Y*
12.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

SPDR MSCI USA StrategicFactors ETF

First Trust US Equity Opportunities ETF

Often compared with QUS:
QUS vs. IVVQUS vs. QUALQUS vs. SPYQUS vs. JQUAQUS vs. VOOQUS vs. DGTQUS vs. BERZ
Often compared with FPX:
FPX vs. IPOFPX vs. SPYFPX vs. MSOSFPX vs. MJFPX vs. IUSGFPX vs. IBUYFPX vs. URNM

QUS vs. FPX - Expense Ratio Comparison

QUS has a 0.15% expense ratio, which is lower than FPX's 0.57% expense ratio.

FPX
First Trust US Equity Opportunities ETF
QUS
SPDR MSCI USA StrategicFactors ETF

Return for Risk

QUS vs. FPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QUS
QUS Risk / Return Rank: 4949
Overall Rank
QUS Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
QUS Sortino Ratio Rank: 4545
Sortino Ratio Rank
QUS Omega Ratio Rank: 4848
Omega Ratio Rank
QUS Calmar Ratio Rank: 4949
Calmar Ratio Rank
QUS Martin Ratio Rank: 6161
Martin Ratio Rank
FPX
FPX Risk / Return Rank: 8383
Overall Rank
FPX Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
FPX Sortino Ratio Rank: 8181
Sortino Ratio Rank
FPX Omega Ratio Rank: 7676
Omega Ratio Rank
FPX Calmar Ratio Rank: 9090
Calmar Ratio Rank
FPX Martin Ratio Rank: 8787
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.

QUS vs. FPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA StrategicFactors ETF (QUS) and First Trust US Equity Opportunities ETF (FPX). 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.

QUSFPXDifference

Sharpe ratio

Return per unit of total volatility

0.77

1.47

-0.70

Sortino ratio

Return per unit of downside risk

1.19

2.04

-0.85

Omega ratio

Gain probability vs. loss probability

1.18

1.28

-0.10

Calmar ratio

Return relative to maximum drawdown

1.17

2.99

-1.82

Martin ratio

Return relative to average drawdown

5.79

10.16

-4.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUS vs. FPX - Sharpe Ratio Comparison

The current QUS Sharpe Ratio is 0.77, which is lower than the FPX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of QUS and FPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QUSFPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.77

1.47

-0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.23

+0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.53

+0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.52

+0.21

Correlation

The correlation between QUS and FPX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QUS vs. FPX - Dividend Comparison

QUS's dividend yield for the trailing twelve months is around 1.40%, more than FPX's 0.59% yield.

TTM20252024202320222021202020192018201720162015
QUS
SPDR MSCI USA StrategicFactors ETF		1.40%1.38%1.49%1.57%1.68%1.27%1.73%1.81%2.12%1.86%2.07%1.48%
FPX
First Trust US Equity Opportunities ETF		0.59%0.53%0.09%0.27%1.08%0.14%0.28%0.67%0.88%0.68%0.77%0.62%

Drawdowns

QUS vs. FPX - Drawdown Comparison

The maximum QUS drawdown since its inception was -33.78%, smaller than the maximum FPX drawdown of -56.29%. Use the drawdown chart below to compare losses from any high point for QUS and FPX.

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Drawdown Indicators

QUSFPXDifference

Max Drawdown

Largest peak-to-trough decline

-33.78%

-56.29%

+22.51%

Max Drawdown (1Y)

Largest decline over 1 year

-10.42%

-14.19%

+3.77%

Max Drawdown (5Y)

Largest decline over 5 years

-22.30%

-43.14%

+20.84%

Max Drawdown (10Y)

Largest decline over 10 years

-33.78%

-43.14%

+9.36%

Current Drawdown

Current decline from peak

-5.02%

-8.22%

+3.20%

Average Drawdown

Average peak-to-trough decline

-3.75%

-11.43%

+7.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.11%

4.18%

-2.07%

Volatility

QUS vs. FPX - Volatility Comparison

The current volatility for SPDR MSCI USA StrategicFactors ETF (QUS) is 3.79%, while First Trust US Equity Opportunities ETF (FPX) has a volatility of 9.13%. This indicates that QUS experiences smaller price fluctuations and is considered to be less risky than FPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QUSFPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

9.13%

-5.34%

Volatility (6M)

Calculated over the trailing 6-month period

7.14%

18.62%

-11.48%

Volatility (1Y)

Calculated over the trailing 1-year period

14.51%

29.34%

-14.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.38%

26.54%

-12.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.41%

24.17%

-7.76%