RUNN vs. IQSM

Last updated Jun 4, 2026

RUNN (Running Oak Efficient Growth ETF) and IQSM (IQ Candriam U.S. Mid Cap Equity ETF) are both Mid Cap Blend Equities funds. RUNN is actively managed, while IQSM is passively managed. Over the past year, RUNN returned -1.91% vs 22.78% for IQSM. Their correlation of 0.86 suggests significant overlap in exposure. RUNN charges 0.58%/yr vs 0.15%/yr for IQSM.

Performance

RUNN vs. IQSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Running Oak Efficient Growth ETF (RUNN) and IQ Candriam U.S. Mid Cap Equity ETF (IQSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RUNN achieves a -3.00% return, which is significantly lower than IQSM's 11.77% return.

RUNN

• 1D: -0.89%
• 1M: -1.22%
• YTD: -3.00%
• 6M: -3.15%
• 1Y: -1.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQSM

• 1D: 0.11%
• 1M: 4.36%
• YTD: 11.77%
• 6M: 12.17%
• 1Y: 22.78%
• 3Y*: 13.84%
• 5Y*: —
• 10Y*: —

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

RUNN vs. IQSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RUNN Running Oak Efficient Growth ETF	-3.00%	2.30%	17.16%	12.05%
IQSM IQ Candriam U.S. Mid Cap Equity ETF	11.77%	7.97%	9.15%	10.13%

Correlation

The correlation between RUNN and IQSM is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 9, 2023	0.86

The correlation between RUNN and IQSM has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

RUNN vs. IQSM - Sectors Allocation Comparison

Sectors	RUNN	IQSM
Industrials	39.4%	23.1%
Technology	17.8%	15.5%
Healthcare	13.3%	14.2%
Financial Services	12.8%	12.4%
Consumer Cyclical	8.3%	10.2%
Communication Services	2.1%	2.6%
Basic Materials	2.0%	4.1%
Consumer Defensive	-	4.6%
Energy	-	2.6%
Real Estate	-	10.0%
Utilities	-	0.6%

Return for Risk

RUNN vs. IQSM — Risk / Return Rank

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

RUNN

RUNN Risk / Return Rank: 7
RUNN Sharpe Ratio Rank: 7
RUNN Sortino Ratio Rank: 6
RUNN Omega Ratio Rank: 7
RUNN Calmar Ratio Rank: 7
RUNN Martin Ratio Rank: 7

IQSM

IQSM Risk / Return Rank: 48
IQSM Sharpe Ratio Rank: 44
IQSM Sortino Ratio Rank: 45
IQSM Omega Ratio Rank: 42
IQSM Calmar Ratio Rank: 53
IQSM Martin Ratio Rank: 55

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.

RUNN vs. IQSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Running Oak Efficient Growth ETF (RUNN) and IQ Candriam U.S. Mid Cap Equity ETF (IQSM). 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.

	RUNN	IQSM	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	1.53	-1.68
Sortino ratio: Return per unit of downside risk	-0.13	2.24	-2.36
Omega ratio: Gain probability vs. loss probability	0.99	1.27	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.19	2.58	-2.77
Martin ratio: Return relative to average drawdown	-0.44	9.43	-9.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RUNN vs. IQSM - Sharpe Ratio Comparison

The current RUNN Sharpe Ratio is -0.15, which is lower than the IQSM Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of RUNN and IQSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RUNN	IQSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	1.53	-1.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.74	-0.06

Drawdowns

RUNN vs. IQSM - Drawdown Comparison

The maximum RUNN drawdown since its inception was -16.83%, smaller than the maximum IQSM drawdown of -23.66%. Use the drawdown chart below to compare losses from any high point for RUNN and IQSM.

Drawdown Indicators

	RUNN	IQSM	Difference
Max Drawdown Largest peak-to-trough decline	-16.83%	-23.66%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-8.86%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.66%	—
Current Drawdown Current decline from peak	-7.89%	0.00%	-7.89%
Average Drawdown Average peak-to-trough decline	-3.54%	-4.87%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	2.42%	+1.92%

Volatility

RUNN vs. IQSM - Volatility Comparison

The current volatility for Running Oak Efficient Growth ETF (RUNN) is 3.57%, while IQ Candriam U.S. Mid Cap Equity ETF (IQSM) has a volatility of 3.97%. This indicates that RUNN experiences smaller price fluctuations and is considered to be less risky than IQSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RUNN	IQSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	3.97%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	9.70%	10.98%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	14.97%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.81%	17.89%	-4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.81%	17.89%	-4.08%

RUNN vs. IQSM - Expense Ratio Comparison

RUNN has a 0.58% expense ratio, which is higher than IQSM's 0.15% expense ratio.

Dividends

RUNN vs. IQSM - Dividend Comparison

RUNN's dividend yield for the trailing twelve months is around 0.57%, less than IQSM's 1.06% yield.

Position	TTM	2025	2024	2023	2022
IQSM IQ Candriam U.S. Mid Cap Equity ETF	1.06%	1.18%	1.22%	1.11%	0.32%
RUNN Running Oak Efficient Growth ETF	0.57%	0.55%	0.39%	0.33%	0.00%

Frequently Asked Questions

Can I hold both RUNN and IQSM in my portfolio?

RUNN and IQSM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RUNN or IQSM?

IQSM has higher volatility (3.97%) compared to RUNN (3.57%). In terms of maximum drawdown, RUNN dropped -16.83% vs IQSM's -23.66%.

Which ETF is better, RUNN or IQSM?

On 1-year performance, IQSM leads with 22.78% vs -1.91% for RUNN. On fees, IQSM is cheaper at 0.15% per year. On volatility, RUNN has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RUNN or IQSM?

Over the 1-year period, IQSM has performed better with a 22.78% return vs -1.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RUNN or IQSM?

IQSM is cheaper with a 0.15% expense ratio, compared with 0.58% for RUNN.

Which ETF pays a higher dividend yield, RUNN or IQSM?

IQSM has the higher dividend yield at 1.06%, compared with 0.57% for RUNN.

What is the main difference between RUNN and IQSM?

They also come from different issuers: Running Oak Capital and IndexIQ. Their fees differ too: 0.58% for RUNN and 0.15% for IQSM.

Which has better risk-adjusted returns?

IQSM currently has the higher Sharpe Ratio (1.53 vs -0.15), 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.