THEQ vs. QTR

Last updated Aug 5, 2026

THEQ (T. Rowe Price Hedged Equity ETF) and QTR (Global X NASDAQ 100 Tail Risk ETF) are both exchange-traded funds - THEQ is a Equity Hedged fund actively managed by T. Rowe Price, while QTR is a Nasdaq-100 fund tracking the NASDAQ-100 Quarterly Protective Put 90 Index. THEQ is actively managed, while QTR is passively managed. Over the past year, THEQ returned 14.61% vs 21.87% for QTR. Their correlation of 0.88 means they have usually moved in the same direction. THEQ charges 0.46%/yr vs 0.60%/yr for QTR.

Performance

THEQ vs. QTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Hedged Equity ETF (THEQ) and Global X NASDAQ 100 Tail Risk ETF (QTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THEQ achieves a 8.91% return, which is significantly lower than QTR's 13.36% return.

THEQ

• 1D: 1.39%
• 1M: 2.82%
• 6M: 7.77%
• YTD: 8.91%
• 1Y: 14.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.34%

QTR

• 1D: 2.79%
• 1M: 0.07%
• 6M: 13.36%
• YTD: 13.36%
• 1Y: 21.87%
• 3Y*: 19.76%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.00%

*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)
QTR Global X NASDAQ 100 Tail Risk ETF	$17.38K	$22.93K	$62.54K
THEQ T. Rowe Price Hedged Equity ETF	$177.26K	$124.05K	$169.23K

THEQ vs. QTR - Yearly Performance Comparison

	2026 (YTD)	2025
THEQ T. Rowe Price Hedged Equity ETF	8.91%	12.72%
QTR Global X NASDAQ 100 Tail Risk ETF	13.36%	22.72%

Correlation

The correlation between THEQ and QTR is 0.89, 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.	0.89
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.88

The correlation between THEQ and QTR has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

THEQ vs. QTR - Sectors Allocation Comparison

Sectors	THEQ	QTR
Technology	35.4%	60.9%
Financial Services	12.3%	0.2%
Communication Services	10.8%	13.1%
Consumer Cyclical	9.5%	10.7%
Healthcare	9.3%	3.6%
Industrials	7.8%	2.7%
Consumer Defensive	5.1%	6.2%
Energy	3.6%	0.5%
Utilities	3.0%	1.1%
Basic Materials	1.7%	1.0%
Real Estate	1.6%	0.1%

Return for Risk

THEQ vs. QTR — Risk / Return Rank

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

THEQ

THEQ Risk / Return Rank: 59
THEQ Sharpe Ratio Rank: 57
THEQ Sortino Ratio Rank: 56
THEQ Omega Ratio Rank: 55
THEQ Calmar Ratio Rank: 59
THEQ Martin Ratio Rank: 69

QTR

QTR Risk / Return Rank: 45
QTR Sharpe Ratio Rank: 47
QTR Sortino Ratio Rank: 45
QTR Omega Ratio Rank: 43
QTR Calmar Ratio Rank: 44
QTR Martin Ratio Rank: 44

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.

THEQ vs. QTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Hedged Equity ETF (THEQ) and Global X NASDAQ 100 Tail Risk ETF (QTR). 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.

	THEQ	QTR	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.32	+0.25
Sortino ratio: Return per unit of downside risk	2.21	1.86	+0.35
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.05
Calmar ratio: Return relative to maximum drawdown	2.38	1.79	+0.59
Martin ratio: Return relative to average drawdown	9.54	5.37	+4.17

THEQ vs. QTR - Sharpe Ratio Comparison

The current THEQ Sharpe Ratio is 1.57, which is comparable to the QTR Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of THEQ and QTR, 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

THEQ vs. QTR - Drawdown Comparison

The maximum THEQ drawdown since its inception was -8.20%, smaller than the maximum QTR drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for THEQ and QTR.

Drawdown Indicators

	THEQ	QTR	Difference
Max Drawdown Largest peak-to-trough decline	-8.20%	-31.72%	+23.52%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	-12.29%	+6.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.99%	—
Current Drawdown Current decline from peak	0.00%	-3.87%	+3.87%
Average Drawdown Average peak-to-trough decline	-1.07%	-8.68%	+7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	4.08%	-2.54%

Volatility

THEQ vs. QTR - Volatility Comparison

The current volatility for T. Rowe Price Hedged Equity ETF (THEQ) is 3.18%, while Global X NASDAQ 100 Tail Risk ETF (QTR) has a volatility of 5.26%. This indicates that THEQ experiences smaller price fluctuations and is considered to be less risky than QTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THEQ	QTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	5.26%	-2.08%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	13.71%	-6.32%
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	16.78%	-7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.55%	18.33%	-6.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.55%	18.33%	-6.78%

THEQ vs. QTR - Expense Ratio Comparison

THEQ has a 0.46% expense ratio, which is lower than QTR's 0.60% expense ratio.

Dividends

THEQ vs. QTR - Dividend Comparison

THEQ's dividend yield for the trailing twelve months is around 0.73%, less than QTR's 16.47% yield.

Position	TTM	2025	2024	2023	2022	2021
QTR Global X NASDAQ 100 Tail Risk ETF	16.47%	18.77%	0.50%	0.53%	0.36%	1.90%
THEQ T. Rowe Price Hedged Equity ETF	0.73%	0.79%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THEQ and QTR in my portfolio?

THEQ and QTR have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THEQ or QTR?

QTR has higher volatility (5.26%) compared to THEQ (3.18%). In terms of maximum drawdown, THEQ dropped -8.20% vs QTR's -31.72%.

Which ETF is better, THEQ or QTR?

On 1-year performance, QTR leads with 21.87% vs 14.61% for THEQ. On fees, THEQ is cheaper at 0.46% per year. On volatility, THEQ has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THEQ or QTR?

Over the 1-year period, QTR has performed better with a 21.87% return vs 14.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THEQ or QTR?

THEQ is cheaper with a 0.46% expense ratio, compared with 0.60% for QTR.

Which ETF pays a higher dividend yield, THEQ or QTR?

QTR has the higher dividend yield at 16.47%, compared with 0.73% for THEQ.

What is the main difference between THEQ and QTR?

THEQ is categorized as Equity Hedged, while QTR is Nasdaq-100. They also come from different issuers: T. Rowe Price and Global X. Their fees differ too: 0.46% for THEQ and 0.60% for QTR.

Which has better risk-adjusted returns?

THEQ currently has the higher Sharpe Ratio (1.57 vs 1.31), 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.