SIZE vs. QUAL
Compare and contrast key facts about iShares MSCI USA Size Factor ETF (SIZE) and iShares Edge MSCI USA Quality Factor ETF (QUAL).
SIZE and QUAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SIZE is a passively managed fund by iShares that tracks the performance of the MSCI USA Low Size. It was launched on Apr 16, 2013. QUAL is a passively managed fund by iShares that tracks the performance of the MSCI USA Quality Index. It was launched on Jul 16, 2013. Both SIZE and QUAL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SIZE or QUAL.
Key characteristics
| SIZE | QUAL | |
|---|---|---|
| YTD Return | 12.17% | 20.38% |
| 1Y Return | 22.95% | 30.96% |
| 3Y Return (Ann) | 5.27% | 10.18% |
| 5Y Return (Ann) | 11.64% | 15.43% |
| 10Y Return (Ann) | 11.09% | 13.12% |
| Sharpe Ratio | 1.69 | 2.33 |
| Daily Std Dev | 13.42% | 13.19% |
| Max Drawdown | -39.15% | -34.06% |
| Current Drawdown | -0.29% | -0.79% |
Correlation
The correlation between SIZE and QUAL is 0.83, 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.
Performance
SIZE vs. QUAL - Performance Comparison
In the year-to-date period, SIZE achieves a 12.17% return, which is significantly lower than QUAL's 20.38% return. Over the past 10 years, SIZE has underperformed QUAL with an annualized return of 11.09%, while QUAL has yielded a comparatively higher 13.12% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SIZE vs. QUAL - Expense Ratio Comparison
Both SIZE and QUAL have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
SIZE vs. QUAL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Size Factor ETF (SIZE) and iShares Edge 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.
Dividends
SIZE vs. QUAL - Dividend Comparison
SIZE's dividend yield for the trailing twelve months is around 1.35%, more than QUAL's 1.01% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SIZE iShares MSCI USA Size Factor ETF | 1.35% | 1.42% | 1.59% | 1.19% | 1.43% | 1.35% | 2.43% | 1.58% | 1.88% | 1.95% | 1.78% | 1.41% |
QUAL iShares Edge MSCI USA Quality Factor ETF | 1.01% | 1.23% | 1.59% | 1.20% | 1.39% | 1.60% | 2.00% | 1.76% | 1.96% | 1.63% | 1.35% | 0.63% |
Drawdowns
SIZE vs. QUAL - Drawdown Comparison
The maximum SIZE drawdown since its inception was -39.15%, which is greater than QUAL's maximum drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for SIZE and QUAL. For additional features, visit the drawdowns tool.
Volatility
SIZE vs. QUAL - Volatility Comparison
The current volatility for iShares MSCI USA Size Factor ETF (SIZE) is 3.36%, while iShares Edge MSCI USA Quality Factor ETF (QUAL) has a volatility of 3.71%. This indicates that SIZE experiences smaller price fluctuations and is considered to be less risky than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.