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ROE vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ROE vs. QUAL

Last updated Aug 4, 2026
Documentation

ROE (Astoria US Equal Weight Quality Kings ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both Quality Factor funds. ROE is actively managed, while QUAL is passively managed. Over the past 3 years, ROE returned 21.23%/yr vs 18.73%/yr for QUAL. Their correlation of 0.87 means they have usually moved in the same direction. ROE charges 0.49%/yr vs 0.15%/yr for QUAL.

Performance

ROE vs. QUAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Astoria US Equal Weight Quality Kings ETF (ROE) and iShares MSCI USA Quality Factor ETF (QUAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ROE achieves a 21.52% return, which is significantly higher than QUAL's 12.08% return.

ROE

1D
0.98%
1M
1.61%
6M
15.98%
YTD
21.52%
1Y
34.66%
3Y*
21.23%
5Y*
—
10Y*
—
ALL TIME*
20.65%

QUAL

1D
1.10%
1M
1.52%
6M
9.27%
YTD
12.08%
1Y
22.77%
3Y*
18.73%
5Y*
11.26%
10Y*
14.16%
ALL TIME*
13.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QUAL

iShares MSCI USA Quality Factor ETF
$217.13M$238.90M$384.89M

ROE

Astoria US Equal Weight Quality Kings ETF
$1.14M$1.17M$931.17K

ROE vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023
ROE
Astoria US Equal Weight Quality Kings ETF		21.52%17.20%18.34%4.31%
QUAL
iShares MSCI USA Quality Factor ETF		12.08%12.65%22.29%5.92%

Correlation

The correlation between ROE and QUAL is 0.85, 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.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (All Time)
Calculated using the full available price history since Aug 1, 2023

0.87

The correlation between ROE and QUAL has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

ROE vs. QUAL - Sectors Allocation Comparison

Sectors
ROE
QUAL

Technology

33.9%
40.2%

Financial Services

11.9%
10.9%

Communication Services

11.1%
10.3%

Consumer Cyclical

11.0%
9.0%

Healthcare

10.2%
9.2%

Industrials

9.0%
7.4%

Consumer Defensive

4.9%
4.3%

Energy

2.9%
2.9%

Real Estate

2.0%
1.7%

Utilities

2.0%
2.1%

Basic Materials

1.0%
1.9%

Technology

ROE
33.9%
QUAL
40.2%

Financial Services

ROE
11.9%
QUAL
10.9%

Communication Services

ROE
11.1%
QUAL
10.3%

Consumer Cyclical

ROE
11.0%
QUAL
9.0%

Healthcare

ROE
10.2%
QUAL
9.2%

Industrials

ROE
9.0%
QUAL
7.4%

Consumer Defensive

ROE
4.9%
QUAL
4.3%

Energy

ROE
2.9%
QUAL
2.9%

Real Estate

ROE
2.0%
QUAL
1.7%

Utilities

ROE
2.0%
QUAL
2.1%

Basic Materials

ROE
1.0%
QUAL
1.9%

Compare stocks, funds, or ETFs

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

Astoria US Equal Weight Quality Kings ETF

iShares MSCI USA Quality Factor ETF

Often compared with ROE:
ROE vs. VOOROE vs. SPYROE vs. MTUMROE vs. QQQEROE vs. PAVEROE vs. EUSAROE vs. DUHP
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

ROE vs. QUAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ROE
ROE Risk / Return Rank: 9090
Overall Rank
ROE Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
ROE Sortino Ratio Rank: 8888
Sortino Ratio Rank
ROE Omega Ratio Rank: 8787
Omega Ratio Rank
ROE Calmar Ratio Rank: 9090
Calmar Ratio Rank
ROE Martin Ratio Rank: 9393
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 7878
Overall Rank
QUAL Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 8080
Sortino Ratio Rank
QUAL Omega Ratio Rank: 7878
Omega Ratio Rank
QUAL Calmar Ratio Rank: 7171
Calmar Ratio Rank
QUAL Martin Ratio Rank: 8383
Martin Ratio Rank
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.

ROE vs. QUAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Astoria US Equal Weight Quality Kings ETF (ROE) and iShares MSCI USA Quality Factor ETF (QUAL). 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.

ROEQUALDifference
Sharpe ratioReturn per unit of total volatility
2.32
1.86

+0.46

Sortino ratioReturn per unit of downside risk
3.09
2.63

+0.46

Omega ratioGain probability vs. loss probability

1.40

1.33

+0.07

Calmar ratioReturn relative to maximum drawdown

4.02

2.53

+1.49

Martin ratioReturn relative to average drawdown

17.11

11.33

+5.78

ROE vs. QUAL - Sharpe Ratio Comparison

The current ROE Sharpe Ratio is 2.32, which is comparable to the QUAL Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of ROE and QUAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ROE vs. QUAL - Drawdown Comparison

The maximum ROE drawdown since its inception was -19.10%, smaller than the maximum QUAL drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for ROE and QUAL.

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Drawdown Indicators

ROEQUALDifference

Max Drawdown

Largest peak-to-trough decline

-19.10%

-34.06%

+14.96%

Max Drawdown (1Y)

Largest decline over 1 year

-8.66%

-9.03%

+0.37%

Max Drawdown (3Y)

Largest decline over 3 years

-19.10%

-18.00%

-1.10%

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.23%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.06%

—

Current Drawdown

Current decline from peak

-0.34%

0.00%

-0.34%

Average Drawdown

Average peak-to-trough decline

-2.54%

-4.07%

+1.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

2.01%

+0.02%

Volatility

ROE vs. QUAL - Volatility Comparison

Astoria US Equal Weight Quality Kings ETF (ROE) has a higher volatility of 3.61% compared to iShares MSCI USA Quality Factor ETF (QUAL) at 3.07%. This indicates that ROE's price experiences larger fluctuations and is considered to be riskier than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ROEQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.61%

3.07%

+0.54%

Volatility (6M)

Calculated over the trailing 6-month period

11.74%

9.70%

+2.04%

Volatility (1Y)

Calculated over the trailing 1-year period

15.05%

12.33%

+2.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.87%

17.39%

-1.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.87%

18.10%

-2.23%

ROE vs. QUAL - Expense Ratio Comparison

ROE has a 0.49% expense ratio, which is higher than QUAL's 0.15% expense ratio.

Dividends

ROE vs. QUAL - Dividend Comparison

ROE's dividend yield for the trailing twelve months is around 1.00%, more than QUAL's 0.85% yield.

PositionTTM20252024202320222021202020192018201720162015
QUAL
iShares MSCI USA Quality Factor ETF		0.85%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%
ROE
Astoria US Equal Weight Quality Kings ETF		1.00%0.97%1.18%0.68%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ROE and QUAL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ROE has higher volatility (3.61%) compared to QUAL (3.07%). In terms of maximum drawdown, ROE dropped -19.10% vs QUAL's -34.06%.

On 3-year performance, ROE leads with 21.23% vs 18.73% for QUAL. On fees, QUAL is cheaper at 0.15% per year. On volatility, QUAL has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, ROE has performed better with a 21.23% return vs 18.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUAL is cheaper with a 0.15% expense ratio, compared with 0.49% for ROE.

ROE has the higher dividend yield at 1.00%, compared with 0.85% for QUAL.

They also come from different issuers: Astoria and iShares. Their fees differ too: 0.49% for ROE and 0.15% for QUAL.

ROE currently has the higher Sharpe Ratio (2.32 vs 1.86), 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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