QWLD vs. RPG

Last updated Jun 23, 2026

QWLD (SPDR MSCI World StrategicFactors ETF) and RPG (Invesco S&P 500 Pure Growth ETF) are both Large Cap Growth Equities funds - QWLD tracks the MSCI World Factor Mix A-Series (USD) while RPG tracks the S&P 500/Citigroup Pure Growth Index. Both are passively managed. Over the past 10 years, QWLD returned 11.80%/yr vs 15.68%/yr for RPG. A 0.67 correlation means they provide meaningful diversification when combined. QWLD charges 0.30%/yr vs 0.35%/yr for RPG.

Performance

QWLD vs. RPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI World StrategicFactors ETF (QWLD) and Invesco S&P 500 Pure Growth ETF (RPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QWLD achieves a 6.01% return, which is significantly lower than RPG's 36.60% return. Over the past 10 years, QWLD has underperformed RPG with an annualized return of 11.80%, while RPG has yielded a comparatively higher 15.68% annualized return.

QWLD

• 1D: -0.21%
• 1M: -0.86%
• YTD: 6.01%
• 6M: 6.01%
• 1Y: 17.56%
• 3Y*: 15.91%
• 5Y*: 10.02%
• 10Y*: 11.80%

RPG

• 1D: 1.57%
• 1M: 10.57%
• YTD: 36.60%
• 6M: 33.46%
• 1Y: 47.03%
• 3Y*: 29.74%
• 5Y*: 12.84%
• 10Y*: 15.68%

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

QWLD vs. RPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QWLD SPDR MSCI World StrategicFactors ETF	6.01%	17.93%	14.44%	19.59%	-13.30%	21.57%	10.24%	27.59%	-7.02%	22.44%
RPG Invesco S&P 500 Pure Growth ETF	36.60%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%

Correlation

The correlation between QWLD and RPG is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 5, 2014	0.67

The correlation between QWLD and RPG shifts across timeframes, from 0.67 (all time) to 0.80 (5 years), reflecting how their relationship changes across market environments.

QWLD vs. RPG - Sectors Allocation Comparison

Sectors	QWLD	RPG
Technology	25.9%	46.9%
Financial Services	14.5%	5.3%
Healthcare	12.7%	6.4%
Communication Services	9.2%	5.4%
Industrials	8.1%	14.0%
Consumer Defensive	7.4%	1.1%
Consumer Cyclical	5.1%	14.7%
Utilities	3.8%	2.4%
Energy	3.3%	1.6%
Basic Materials	2.2%	1.2%
Real Estate	0.5%	1.0%

Return for Risk

QWLD vs. RPG — Risk / Return Rank

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

QWLD

QWLD Risk / Return Rank: 53
QWLD Sharpe Ratio Rank: 54
QWLD Sortino Ratio Rank: 55
QWLD Omega Ratio Rank: 52
QWLD Calmar Ratio Rank: 48
QWLD Martin Ratio Rank: 58

RPG

RPG Risk / Return Rank: 73
RPG Sharpe Ratio Rank: 70
RPG Sortino Ratio Rank: 66
RPG Omega Ratio Rank: 65
RPG Calmar Ratio Rank: 83
RPG Martin Ratio Rank: 83

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.

QWLD vs. RPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World StrategicFactors ETF (QWLD) and Invesco S&P 500 Pure Growth ETF (RPG). 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.

	QWLD	RPG	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.19	-0.40
Sortino ratio: Return per unit of downside risk	2.56	2.91	-0.35
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	2.30	4.27	-1.96
Martin ratio: Return relative to average drawdown	9.94	16.15	-6.22

QWLD vs. RPG - Sharpe Ratio Comparison

The current QWLD Sharpe Ratio is 1.79, which is comparable to the RPG Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of QWLD and RPG, 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

QWLD vs. RPG - Drawdown Comparison

The maximum QWLD drawdown since its inception was -31.89%, smaller than the maximum RPG drawdown of -53.27%. Use the drawdown chart below to compare losses from any high point for QWLD and RPG.

Drawdown Indicators

	QWLD	RPG	Difference
Max Drawdown Largest peak-to-trough decline	-31.89%	-53.27%	+21.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-11.08%	+3.42%
Max Drawdown (3Y) Largest decline over 3 years	-12.40%	-24.75%	+12.35%
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	-35.59%	+12.75%
Max Drawdown (10Y) Largest decline over 10 years	-31.89%	-36.58%	+4.69%
Current Drawdown Current decline from peak	-1.25%	0.00%	-1.25%
Average Drawdown Average peak-to-trough decline	-3.69%	-8.83%	+5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	2.92%	-1.15%

Volatility

QWLD vs. RPG - Volatility Comparison

The current volatility for SPDR MSCI World StrategicFactors ETF (QWLD) is 2.78%, while Invesco S&P 500 Pure Growth ETF (RPG) has a volatility of 9.89%. This indicates that QWLD experiences smaller price fluctuations and is considered to be less risky than RPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QWLD	RPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	9.89%	-7.11%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	18.39%	-10.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.84%	21.61%	-11.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	23.77%	-10.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.20%	22.88%	-7.68%

QWLD vs. RPG - Expense Ratio Comparison

QWLD has a 0.30% expense ratio, which is lower than RPG's 0.35% expense ratio.

Dividends

QWLD vs. RPG - Dividend Comparison

QWLD's dividend yield for the trailing twelve months is around 1.84%, more than RPG's 0.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QWLD SPDR MSCI World StrategicFactors ETF	1.84%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%
RPG Invesco S&P 500 Pure Growth ETF	0.15%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%

Frequently Asked Questions

Can I hold both QWLD and RPG in my portfolio?

QWLD and RPG have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QWLD or RPG?

RPG has higher volatility (9.89%) compared to QWLD (2.78%). In terms of maximum drawdown, QWLD dropped -31.89% vs RPG's -53.27%.

Which ETF is better, QWLD or RPG?

On 10-year performance, RPG leads with 15.68% vs 11.80% for QWLD. On fees, QWLD is cheaper at 0.30% per year. On volatility, QWLD has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QWLD or RPG?

Over the 10-year period, RPG has performed better with a 15.68% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QWLD or RPG?

QWLD is cheaper with a 0.30% expense ratio, compared with 0.35% for RPG.

Which ETF pays a higher dividend yield, QWLD or RPG?

QWLD has the higher dividend yield at 1.84%, compared with 0.19% for RPG.

What is the main difference between QWLD and RPG?

QWLD tracks MSCI World Factor Mix A-Series (USD), while RPG tracks S&P 500/Citigroup Pure Growth Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for QWLD and 0.35% for RPG.

Which has better risk-adjusted returns?

RPG currently has the higher Sharpe Ratio (2.19 vs 1.79), 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.