SUSL vs. QWLD

Last updated Aug 4, 2026

SUSL (iShares ESG MSCI USA Leaders ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds - SUSL tracks the MSCI USA Extended ESG Leaders Index while QWLD tracks the MSCI World Factor Mix A-Series (USD). Both are passively managed. Over the past 5 years, SUSL returned 13.21%/yr vs 10.04%/yr for QWLD. Their correlation of 0.88 means they have usually moved in the same direction. SUSL charges 0.10%/yr vs 0.30%/yr for QWLD.

Performance

SUSL vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG MSCI USA Leaders ETF (SUSL) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUSL achieves a 12.03% return, which is significantly higher than QWLD's 10.03% return.

SUSL

• 1D: 1.73%
• 1M: 2.24%
• 6M: 10.23%
• YTD: 12.03%
• 1Y: 24.28%
• 3Y*: 21.39%
• 5Y*: 13.21%
• 10Y*: —
• ALL TIME*: 16.67%

QWLD

• 1D: 0.58%
• 1M: 2.22%
• 6M: 5.89%
• YTD: 10.03%
• 1Y: 19.80%
• 3Y*: 16.43%
• 5Y*: 10.04%
• 10Y*: 11.64%
• ALL TIME*: 10.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QWLD SPDR MSCI World StrategicFactors ETF	$247.86K	$289.30K	$1.06M
SUSL iShares ESG MSCI USA Leaders ETF	$2.06M	$2.62M	$3.08M

SUSL vs. QWLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SUSL iShares ESG MSCI USA Leaders ETF	12.03%	18.97%	23.51%	29.08%	-20.22%	31.53%	18.89%	15.09%
QWLD SPDR MSCI World StrategicFactors ETF	10.03%	17.93%	14.44%	19.59%	-13.30%	21.57%	10.24%	12.57%

Correlation

The correlation between SUSL and QWLD 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.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (All Time) Calculated using the full available price history since May 10, 2019	0.88

The correlation between SUSL and QWLD has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

SUSL vs. QWLD - Sectors Allocation Comparison

Sectors	SUSL	QWLD
Technology	35.8%	24.9%
Communication Services	11.9%	9.5%
Financial Services	11.4%	16.5%
Healthcare	10.6%	13.2%
Consumer Cyclical	8.5%	6.3%
Industrials	8.1%	10.9%
Consumer Defensive	5.4%	8.1%
Energy	2.2%	3.4%
Real Estate	2.1%	1.0%
Basic Materials	2.0%	2.5%
Utilities	1.9%	3.8%

Return for Risk

SUSL vs. QWLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SUSL

SUSL Risk / Return Rank: 69
SUSL Sharpe Ratio Rank: 73
SUSL Sortino Ratio Rank: 73
SUSL Omega Ratio Rank: 72
SUSL Calmar Ratio Rank: 58
SUSL Martin Ratio Rank: 70

QWLD

QWLD Risk / Return Rank: 81
QWLD Sharpe Ratio Rank: 85
QWLD Sortino Ratio Rank: 85
QWLD Omega Ratio Rank: 83
QWLD Calmar Ratio Rank: 72
QWLD Martin Ratio Rank: 82

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.

SUSL vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Leaders ETF (SUSL) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

	SUSL	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.06	-0.31
Sortino ratio: Return per unit of downside risk	2.45	2.91	-0.45
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.15	2.60	-0.45
Martin ratio: Return relative to average drawdown	8.82	11.35	-2.53

SUSL vs. QWLD - Sharpe Ratio Comparison

The current SUSL Sharpe Ratio is 1.74, which is comparable to the QWLD Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of SUSL and QWLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SUSL vs. QWLD - Drawdown Comparison

The maximum SUSL drawdown since its inception was -34.26%, which is greater than QWLD's maximum drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for SUSL and QWLD.

Drawdown Indicators

	SUSL	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-34.26%	-31.89%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-7.66%	-3.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.91%	-12.40%	-7.51%
Max Drawdown (5Y) Largest decline over 5 years	-26.98%	-22.84%	-4.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.61%	-3.66%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	1.75%	+1.01%

Volatility

SUSL vs. QWLD - Volatility Comparison

iShares ESG MSCI USA Leaders ETF (SUSL) has a higher volatility of 4.45% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.28%. This indicates that SUSL's price experiences larger fluctuations and is considered to be riskier than QWLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUSL	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	2.28%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	11.23%	7.74%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	9.70%	+4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	13.51%	+4.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	15.12%	+4.61%

SUSL vs. QWLD - Expense Ratio Comparison

SUSL has a 0.10% expense ratio, which is lower than QWLD's 0.30% expense ratio.

Dividends

SUSL vs. QWLD - Dividend Comparison

SUSL's dividend yield for the trailing twelve months is around 0.92%, less than QWLD's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QWLD SPDR MSCI World StrategicFactors ETF	1.78%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%
SUSL iShares ESG MSCI USA Leaders ETF	0.92%	0.99%	1.10%	1.27%	1.57%	1.12%	1.38%	1.12%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SUSL and QWLD in my portfolio?

SUSL and QWLD 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.

Which is riskier, SUSL or QWLD?

SUSL has higher volatility (4.45%) compared to QWLD (2.28%). In terms of maximum drawdown, SUSL dropped -34.26% vs QWLD's -31.89%.

Which ETF is better, SUSL or QWLD?

On 5-year performance, SUSL leads with 13.21% vs 10.04% for QWLD. On fees, SUSL is cheaper at 0.10% per year. On volatility, QWLD has been the lower-risk option at 2.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUSL or QWLD?

Over the 5-year period, SUSL has performed better with a 13.21% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUSL or QWLD?

SUSL is cheaper with a 0.10% expense ratio, compared with 0.30% for QWLD.

Which ETF pays a higher dividend yield, SUSL or QWLD?

QWLD has the higher dividend yield at 1.78%, compared with 0.92% for SUSL.

What is the main difference between SUSL and QWLD?

SUSL tracks MSCI USA Extended ESG Leaders Index, while QWLD tracks MSCI World Factor Mix A-Series (USD). They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for SUSL and 0.30% for QWLD.

Which has better risk-adjusted returns?

QWLD currently has the higher Sharpe Ratio (2.06 vs 1.74), 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.