QUS vs. GLD
QUS (SPDR MSCI USA StrategicFactors ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD), while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, QUS returned 13.70%/yr vs 11.59%/yr for GLD. At a 0.06 correlation, their price movements are largely independent. QUS charges 0.15%/yr vs 0.40%/yr for GLD.
Performance
QUS vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, QUS achieves a 5.81% return, which is significantly higher than GLD's -4.79% return. Over the past 10 years, QUS has outperformed GLD with an annualized return of 13.70%, while GLD has yielded a comparatively lower 11.59% annualized 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%
GLD
- 1D
- -1.89%
- 1M
- -8.82%
- YTD
- -4.79%
- 6M
- -8.78%
- 1Y
- 21.29%
- 3Y*
- 28.41%
- 5Y*
- 17.84%
- 10Y*
- 11.59%
QUS vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QUS SPDR MSCI USA StrategicFactors ETF | 5.81% | 14.13% | 18.99% | 21.78% | -14.15% | 26.72% | 12.40% | 32.45% | -3.66% | 21.67% |
GLD SPDR Gold Shares | -4.79% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between QUS and GLD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | 0.06 |
Over the past year, QUS and GLD have become more correlated (0.27) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
QUS vs. GLD — Risk / Return Rank
QUS
GLD
QUS vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA StrategicFactors ETF (QUS) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 0.87 | +1.56 |
| Martin ratioReturn relative to average drawdown | 10.76 | 2.35 | +8.41 |
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Drawdowns
QUS vs. GLD - Drawdown Comparison
The maximum QUS drawdown since its inception was -33.78%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for QUS and GLD.
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Drawdown Indicators
| QUS | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -45.56% | +11.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.85% | -24.46% | +17.61% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -24.46% | +10.52% |
Max Drawdown (5Y)Largest decline over 5 years | -22.30% | -24.46% | +2.16% |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | -24.46% | -9.32% |
Current DrawdownCurrent decline from peak | -1.84% | -23.91% | +22.07% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -16.17% | +12.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 9.10% | -7.55% |
Volatility
QUS vs. GLD - Volatility Comparison
The current volatility for SPDR MSCI USA StrategicFactors ETF (QUS) is 2.84%, while SPDR Gold Shares (GLD) has a volatility of 8.18%. This indicates that QUS experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QUS | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 8.18% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.98% | 24.38% | -17.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.24% | 27.57% | -18.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.34% | 18.24% | -3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.43% | 16.04% | +0.39% |
QUS vs. GLD - Expense Ratio Comparison
QUS has a 0.15% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
QUS vs. GLD - Dividend Comparison
QUS's dividend yield for the trailing twelve months is around 1.32%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 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
QUS and GLD have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (8.18%) compared to QUS (2.84%). In terms of maximum drawdown, QUS dropped -33.78% vs GLD's -45.56%.
On 10-year performance, QUS leads with 13.70% vs 11.59% for GLD. 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.
Over the 10-year period, QUS has performed better with a 13.70% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QUS is cheaper with a 0.15% expense ratio, compared with 0.40% for GLD.
QUS has the higher dividend yield at 1.32%, compared with 0.00% for GLD.
QUS is categorized as Large Cap Growth Equities, while GLD is Gold. QUS tracks MSCI USA Factor Mix A-Series Capped (USD), while GLD tracks LBMA Gold Price PM. Their fees differ too: 0.15% for QUS and 0.40% for GLD.
QUS currently has the higher Sharpe Ratio (1.81 vs 0.78), 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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