SPQ vs. USPX

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify US Equity Plus QIS ETF (SPQ) and Franklin U.S. Equity Index ETF (USPX).

SPQ and USPX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPQ is an actively managed fund by Simplify. It was launched on Nov 13, 2023. USPX is a passively managed fund by Franklin Templeton that tracks the performance of the Morningstar US Target Market Exposure Index. It was launched on Jun 1, 2016.

Performance

SPQ vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity Plus QIS ETF (SPQ) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

SPQ vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPQ Simplify US Equity Plus QIS ETF	0.00%	-4.67%	20.38%	5.51%
USPX Franklin U.S. Equity Index ETF	-4.61%	17.78%	24.97%	6.64%

Returns By Period

SPQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USPX

• 1D: 2.97%
• 1M: -4.14%
• YTD: -4.61%
• 6M: -2.31%
• 1Y: 17.50%
• 3Y*: 18.33%
• 5Y*: 10.30%
• 10Y*: —

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

SPQ vs. USPX - Expense Ratio Comparison

SPQ has a 1.00% expense ratio, which is higher than USPX's 0.03% expense ratio.

SPQ

Simplify US Equity Plus QIS ETF

USPX

Franklin U.S. Equity Index ETF

Return for Risk

SPQ vs. USPX — Risk / Return Rank

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

USPX

USPX Risk / Return Rank: 59
USPX Sharpe Ratio Rank: 53
USPX Sortino Ratio Rank: 57
USPX Omega Ratio Rank: 60
USPX Calmar Ratio Rank: 58
USPX Martin Ratio Rank: 69

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.

SPQ vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity Plus QIS ETF (SPQ) and Franklin U.S. Equity Index ETF (USPX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPQ	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.94	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.71	—

Correlation

The correlation between SPQ and USPX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPQ vs. USPX - Dividend Comparison

SPQ has not paid dividends to shareholders, while USPX's dividend yield for the trailing twelve months is around 1.20%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SPQ Simplify US Equity Plus QIS ETF	0.00%	0.31%	17.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.20%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Drawdowns

Drawdown Indicators

	SPQ	USPX	Difference
Max Drawdown Largest peak-to-trough decline	—	-31.21%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Current Drawdown Current decline from peak	—	-6.45%	—
Average Drawdown Average peak-to-trough decline	—	-4.51%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.60%	—

Volatility

Volatility by Period

	SPQ	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	18.75%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.15%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.98%	—