SPD vs. QUS
SPD (Simplify US Equity PLUS Downside Convexity ETF) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds. SPD is actively managed, while QUS is passively managed. Over the past 5 years, SPD returned 7.54%/yr vs 10.91%/yr for QUS. Their correlation of 0.87 means they have usually moved in the same direction. SPD charges 0.53%/yr vs 0.15%/yr for QUS.
Performance
SPD vs. QUS - Performance Comparison
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Returns By Period
In the year-to-date period, SPD achieves a 7.33% return, which is significantly lower than QUS's 10.23% return.
SPD
- 1D
- 1.80%
- 1M
- 1.36%
- 6M
- 6.17%
- YTD
- 7.33%
- 1Y
- 13.84%
- 3Y*
- 16.41%
- 5Y*
- 7.54%
- 10Y*
- —
- ALL TIME*
- 10.56%
QUS
- 1D
- 0.83%
- 1M
- 1.29%
- 6M
- 7.60%
- YTD
- 10.23%
- 1Y
- 19.80%
- 3Y*
- 17.10%
- 5Y*
- 10.91%
- 10Y*
- 13.54%
- ALL TIME*
- 12.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.01M | $4.81M | $3.43M | |
| $297.15K | $312.14K | $351.11K |
SPD vs. QUS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPD Simplify US Equity PLUS Downside Convexity ETF | 7.33% | 18.86% | 17.49% | 20.94% | -25.96% | 24.81% | 8.06% |
QUS State Street SPDR MSCI USA StrategicFactors ETF | 10.23% | 14.13% | 18.99% | 21.78% | -14.15% | 26.72% | 9.49% |
Correlation
The correlation between SPD and QUS is 0.80, 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. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020 | 0.87 |
The correlation between SPD and QUS has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
SPD vs. QUS - Sectors Allocation Comparison
Sectors
SPD
QUS
Technology
Financial Services
Communication Services
Consumer Cyclical
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Real Estate
Basic Materials
Technology
SPD
QUS
Financial Services
SPD
QUS
Communication Services
SPD
QUS
Consumer Cyclical
SPD
QUS
Healthcare
SPD
QUS
Industrials
SPD
QUS
Consumer Defensive
SPD
QUS
Energy
SPD
QUS
Utilities
SPD
QUS
Real Estate
SPD
QUS
Basic Materials
SPD
QUS
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Return for Risk
SPD vs. QUS — Risk / Return Rank
SPD
QUS
SPD vs. QUS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Downside Convexity ETF (SPD) and State Street SPDR MSCI USA StrategicFactors ETF (QUS). 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.
| SPD | QUS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.39 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.90 | -1.73 |
| Martin ratioReturn relative to average drawdown | 3.68 | 12.95 | -9.27 |
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Drawdowns
SPD vs. QUS - Drawdown Comparison
The maximum SPD drawdown since its inception was -27.38%, smaller than the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for SPD and QUS.
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Drawdown Indicators
| SPD | QUS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.38% | -33.78% | +6.40% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -6.85% | -5.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.18% | -13.94% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.38% | -22.30% | -5.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.78% | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -3.66% | -3.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.77% | 1.53% | +2.24% |
Volatility
SPD vs. QUS - Volatility Comparison
Simplify US Equity PLUS Downside Convexity ETF (SPD) has a higher volatility of 4.12% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.42%. This indicates that SPD's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPD | QUS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 2.42% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.54% | 6.97% | +2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 9.22% | +4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 14.32% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 16.40% | -0.45% |
SPD vs. QUS - Expense Ratio Comparison
SPD has a 0.53% expense ratio, which is higher than QUS's 0.15% expense ratio.
Dividends
SPD vs. QUS - Dividend Comparison
SPD's dividend yield for the trailing twelve months is around 0.95%, less than QUS's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QUS State Street SPDR MSCI USA StrategicFactors ETF | 1.27% | 1.38% | 1.49% | 1.57% | 1.68% | 1.27% | 1.73% | 1.81% | 2.12% | 1.86% | 2.07% | 1.48% |
SPD Simplify US Equity PLUS Downside Convexity ETF | 0.95% | 0.97% | 1.14% | 1.91% | 1.64% | 0.88% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPD and QUS have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPD has higher volatility (4.12%) compared to QUS (2.42%). In terms of maximum drawdown, SPD dropped -27.38% vs QUS's -33.78%.
On 5-year performance, QUS leads with 10.91% vs 7.54% for SPD. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QUS has performed better with a 10.91% return vs 7.54%. 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 0.53% for SPD.
QUS has the higher dividend yield at 1.27%, compared with 0.95% for SPD.
They also come from different issuers: Simplify and State Street. Their fees differ too: 0.53% for SPD and 0.15% for QUS.
QUS currently has the higher Sharpe Ratio (2.16 vs 1.05), 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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