TGRW vs. QUS

Last updated Jun 24, 2026

TGRW (T. Rowe Price Growth Stock ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both Large Cap Growth Equities funds. TGRW is actively managed, while QUS is passively managed. Over the past 5 years, TGRW returned 7.54%/yr vs 10.77%/yr for QUS. A 0.79 correlation means they provide meaningful diversification when combined. TGRW charges 0.52%/yr vs 0.15%/yr for QUS.

Performance

TGRW vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth Stock ETF (TGRW) 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, TGRW achieves a 0.74% return, which is significantly lower than QUS's 5.81% return.

TGRW

• 1D: -1.34%
• 1M: -3.27%
• YTD: 0.74%
• 6M: -0.34%
• 1Y: 15.30%
• 3Y*: 19.72%
• 5Y*: 7.54%
• 10Y*: —

QUS

• 1D: -0.23%
• 1M: -1.12%
• YTD: 5.81%
• 6M: 5.18%
• 1Y: 16.61%
• 3Y*: 16.79%
• 5Y*: 10.77%
• 10Y*: 13.70%

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

TGRW vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TGRW T. Rowe Price Growth Stock ETF	0.74%	15.62%	29.94%	48.87%	-38.42%	14.97%	16.40%
QUS SPDR MSCI USA StrategicFactors ETF	5.81%	14.13%	18.99%	21.78%	-14.15%	26.72%	13.48%

Correlation

The correlation between TGRW and QUS is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020	0.79

The correlation between TGRW and QUS shifts across timeframes, from 0.63 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

TGRW vs. QUS - Sectors Allocation Comparison

Sectors	TGRW	QUS
Technology	52.6%	29.2%
Communication Services	16.5%	9.9%
Consumer Cyclical	13.1%	5.5%
Healthcare	6.6%	13.4%
Financial Services	5.2%	14.0%
Industrials	4.1%	8.2%
Consumer Defensive	0.8%	8.7%
Basic Materials	0.6%	2.2%
Real Estate	0.6%	1.3%
Energy	-	4.2%
Utilities	-	3.4%

Return for Risk

TGRW vs. QUS — Risk / Return Rank

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

TGRW

TGRW Risk / Return Rank: 23
TGRW Sharpe Ratio Rank: 26
TGRW Sortino Ratio Rank: 25
TGRW Omega Ratio Rank: 24
TGRW Calmar Ratio Rank: 19
TGRW Martin Ratio Rank: 22

QUS

QUS Risk / Return Rank: 57
QUS Sharpe Ratio Rank: 57
QUS Sortino Ratio Rank: 57
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.

TGRW vs. QUS - Risk-Adjusted Trends Comparison

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

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.

	TGRW	QUS	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.81	-0.93
Sortino ratio: Return per unit of downside risk	1.30	2.58	-1.28
Omega ratio: Gain probability vs. loss probability	1.16	1.32	-0.16
Calmar ratio: Return relative to maximum drawdown	0.82	2.43	-1.62
Martin ratio: Return relative to average drawdown	2.53	10.76	-8.23

TGRW vs. QUS - Sharpe Ratio Comparison

The current TGRW Sharpe Ratio is 0.88, which is lower than the QUS Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of TGRW 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.

Drawdowns

TGRW vs. QUS - Drawdown Comparison

The maximum TGRW drawdown since its inception was -43.33%, which is greater than QUS's maximum drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for TGRW and QUS.

Drawdown Indicators

	TGRW	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	-33.78%	-9.55%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	-6.85%	-11.99%
Max Drawdown (3Y) Largest decline over 3 years	-23.18%	-13.94%	-9.24%
Max Drawdown (5Y) Largest decline over 5 years	-43.33%	-22.30%	-21.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-6.51%	-1.84%	-4.67%
Average Drawdown Average peak-to-trough decline	-12.40%	-3.69%	-8.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	1.55%	+4.50%

Volatility

TGRW vs. QUS - Volatility Comparison

T. Rowe Price Growth Stock ETF (TGRW) has a higher volatility of 6.40% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 2.84%. This indicates that TGRW'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

	TGRW	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	2.84%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	6.98%	+6.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	9.24%	+8.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	14.34%	+9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	16.43%	+6.61%

TGRW vs. QUS - Expense Ratio Comparison

TGRW has a 0.52% expense ratio, which is higher than QUS's 0.15% expense ratio.

Dividends

TGRW vs. QUS - Dividend Comparison

TGRW has not paid dividends to shareholders, while QUS's dividend yield for the trailing twelve months is around 1.32%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QUS SPDR MSCI USA StrategicFactors ETF	1.32%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%
TGRW T. Rowe Price Growth Stock ETF	0.00%	0.00%	0.00%	0.01%	0.00%	0.40%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGRW and QUS in my portfolio?

TGRW and QUS have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGRW or QUS?

TGRW has higher volatility (6.40%) compared to QUS (2.84%). In terms of maximum drawdown, TGRW dropped -43.33% vs QUS's -33.78%.

Which ETF is better, TGRW or QUS?

On 5-year performance, QUS leads with 10.77% vs 7.54% for TGRW. On fees, QUS is cheaper at 0.15% per year. On volatility, QUS has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGRW or QUS?

Over the 5-year period, QUS has performed better with a 10.77% return vs 7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGRW or QUS?

QUS is cheaper with a 0.15% expense ratio, compared with 0.52% for TGRW.

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

QUS has the higher dividend yield at 1.32%, compared with 0.00% for TGRW.

What is the main difference between TGRW and QUS?

They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.52% for TGRW and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.81 vs 0.88), 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.