TDVG vs. QUS

Last updated Jun 4, 2026

TDVG (T. Rowe Price Dividend Growth ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds. TDVG is actively managed, while QUS is passively managed. Over the past 5 years, TDVG returned 10.03%/yr vs 11.08%/yr for QUS. With a 0.96 correlation, they move nearly in lockstep. TDVG charges 0.50%/yr vs 0.15%/yr for QUS.

Performance

TDVG vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dividend Growth ETF (TDVG) and SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDVG achieves a 7.48% return, which is significantly higher than QUS's 6.67% return.

TDVG

• 1D: -0.19%
• 1M: 3.06%
• YTD: 7.48%
• 6M: 7.57%
• 1Y: 17.02%
• 3Y*: 15.63%
• 5Y*: 10.03%
• 10Y*: —

QUS

• 1D: -0.43%
• 1M: 2.68%
• YTD: 6.67%
• 6M: 6.93%
• 1Y: 17.65%
• 3Y*: 17.53%
• 5Y*: 11.08%
• 10Y*: 13.67%

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

TDVG vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TDVG T. Rowe Price Dividend Growth ETF	7.48%	14.80%	13.45%	13.95%	-10.15%	26.20%	12.98%
QUS SPDR MSCI USA StrategicFactors ETF	6.67%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.81%

Correlation

The correlation between TDVG and QUS is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 6, 2020	0.96

The correlation between TDVG and QUS has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

TDVG vs. QUS - Sectors Allocation Comparison

Sectors	TDVG	QUS
Technology	24.1%	26.3%
Financial Services	19.5%	14.6%
Industrials	13.6%	8.6%
Healthcare	12.9%	13.4%
Consumer Cyclical	7.7%	5.8%
Consumer Defensive	7.1%	9.2%
Energy	5.8%	4.6%
Utilities	3.9%	3.6%
Basic Materials	2.9%	2.3%
Real Estate	1.6%	1.4%
Communication Services	1.2%	10.2%

Return for Risk

TDVG vs. QUS — Risk / Return Rank

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

TDVG

TDVG Risk / Return Rank: 51
TDVG Sharpe Ratio Rank: 51
TDVG Sortino Ratio Rank: 52
TDVG Omega Ratio Rank: 50
TDVG Calmar Ratio Rank: 47
TDVG Martin Ratio Rank: 55

QUS

QUS Risk / Return Rank: 57
QUS Sharpe Ratio Rank: 56
QUS Sortino Ratio Rank: 58
QUS Omega Ratio Rank: 55
QUS Calmar Ratio Rank: 52
QUS Martin Ratio Rank: 63

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.

TDVG vs. QUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dividend Growth ETF (TDVG) and 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.

	TDVG	QUS	Difference
Sharpe ratio Return per unit of total volatility	1.77	1.95	-0.18
Sortino ratio Return per unit of downside risk	2.54	2.81	-0.26
Omega ratio Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio Return relative to maximum drawdown	2.36	2.59	-0.22
Martin ratio Return relative to average drawdown	9.68	11.54	-1.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDVG vs. QUS - Sharpe Ratio Comparison

The current TDVG Sharpe Ratio is 1.77, which is comparable to the QUS Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of TDVG and QUS, 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

	TDVG	QUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.95	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.78	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.77	+0.17

Drawdowns

TDVG vs. QUS - Drawdown Comparison

The maximum TDVG drawdown since its inception was -19.20%, smaller than the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for TDVG and QUS.

Drawdown Indicators

	TDVG	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-19.20%	-33.78%	+14.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-6.85%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	-13.94%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-19.20%	-22.30%	+3.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-0.19%	-0.50%	+0.31%
Average Drawdown Average peak-to-trough decline	-3.76%	-3.70%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	1.53%	+0.23%

Volatility

TDVG vs. QUS - Volatility Comparison

T. Rowe Price Dividend Growth ETF (TDVG) has a higher volatility of 2.11% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 1.78%. This indicates that TDVG'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.

Volatility by Period

	TDVG	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	1.78%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	7.45%	6.66%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	9.67%	9.09%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	14.33%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.93%	16.42%	-2.49%

TDVG vs. QUS - Expense Ratio Comparison

TDVG has a 0.50% expense ratio, which is higher than QUS's 0.15% expense ratio.

Dividends

TDVG vs. QUS - Dividend Comparison

TDVG's dividend yield for the trailing twelve months is around 0.98%, less than QUS's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QUS SPDR MSCI USA StrategicFactors ETF	1.31%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%
TDVG T. Rowe Price Dividend Growth ETF	0.98%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDVG and QUS in my portfolio?

With a correlation of 0.92, TDVG and QUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TDVG or QUS?

TDVG has higher volatility (2.11%) compared to QUS (1.78%). In terms of maximum drawdown, TDVG dropped -19.20% vs QUS's -33.78%.

Which ETF is better, TDVG or QUS?

On 5-year performance, QUS leads with 11.08% vs 10.03% for TDVG. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDVG or QUS?

Over the 5-year period, QUS has performed better with a 11.08% return vs 10.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDVG or QUS?

QUS is cheaper with a 0.15% expense ratio, compared with 0.50% for TDVG.

Which ETF pays a higher dividend yield, TDVG or QUS?

QUS has the higher dividend yield at 1.31%, compared with 0.98% for TDVG.

What is the main difference between TDVG and QUS?

They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.50% for TDVG and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.95 vs 1.77), 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.