TSPX vs. QVOY

Last updated Apr 1, 2026

Compare and contrast key facts about Twin Oak Active Opportunities ETF (TSPX) and Q3 All-Season Active Rotation ETF (QVOY).

TSPX and QVOY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSPX is an actively managed fund by Twin Oak. It was launched on Feb 20, 2025. QVOY is an actively managed fund by Q3. It was launched on Dec 6, 2022.

Performance

TSPX vs. QVOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Active Opportunities ETF (TSPX) and Q3 All-Season Active Rotation ETF (QVOY). The values are adjusted to include any dividend payments, if applicable.

TSPX vs. QVOY - Yearly Performance Comparison

	2026 (YTD)	2025
TSPX Twin Oak Active Opportunities ETF	-3.60%	15.46%
QVOY Q3 All-Season Active Rotation ETF	4.39%	15.77%

Returns By Period

In the year-to-date period, TSPX achieves a -3.60% return, which is significantly lower than QVOY's 4.39% return.

TSPX

• 1D: 2.12%
• 1M: -3.82%
• YTD: -3.60%
• 6M: -1.19%
• 1Y: 14.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QVOY

• 1D: 0.47%
• 1M: -6.52%
• YTD: 4.39%
• 6M: 7.32%
• 1Y: 26.27%
• 3Y*: 12.71%
• 5Y*: —
• 10Y*: —

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

TSPX vs. QVOY - Expense Ratio Comparison

TSPX has a 1.01% expense ratio, which is lower than QVOY's 1.30% expense ratio.

QVOY

Q3 All-Season Active Rotation ETF

TSPX

Twin Oak Active Opportunities ETF

Return for Risk

TSPX vs. QVOY — Risk / Return Rank

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

TSPX

TSPX Risk / Return Rank: 75
TSPX Sharpe Ratio Rank: 72
TSPX Sortino Ratio Rank: 73
TSPX Omega Ratio Rank: 68
TSPX Calmar Ratio Rank: 78
TSPX Martin Ratio Rank: 82

QVOY

QVOY Risk / Return Rank: 80
QVOY Sharpe Ratio Rank: 78
QVOY Sortino Ratio Rank: 76
QVOY Omega Ratio Rank: 75
QVOY Calmar Ratio Rank: 87
QVOY Martin Ratio Rank: 83

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.

TSPX vs. QVOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Active Opportunities ETF (TSPX) and Q3 All-Season Active Rotation ETF (QVOY). 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.

	TSPX	QVOY	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.48	-0.16
Sortino ratio Return per unit of downside risk	1.92	1.96	-0.04
Omega ratio Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio Return relative to maximum drawdown	2.19	2.75	-0.56
Martin ratio Return relative to average drawdown	9.38	9.60	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSPX vs. QVOY - Sharpe Ratio Comparison

The current TSPX Sharpe Ratio is 1.32, which is comparable to the QVOY Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of TSPX and QVOY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSPX	QVOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.48	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.78	+0.15

Correlation

The correlation between TSPX and QVOY 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

TSPX vs. QVOY - Dividend Comparison

TSPX's dividend yield for the trailing twelve months is around 2.23%, less than QVOY's 8.91% yield.

	TTM	2025	2024	2023	2022
TSPX Twin Oak Active Opportunities ETF	2.23%	2.15%	0.00%	0.00%	0.00%
QVOY Q3 All-Season Active Rotation ETF	8.91%	9.30%	10.88%	6.03%	0.46%

Drawdowns

TSPX vs. QVOY - Drawdown Comparison

The maximum TSPX drawdown since its inception was -7.80%, smaller than the maximum QVOY drawdown of -17.05%. Use the drawdown chart below to compare losses from any high point for TSPX and QVOY.

Drawdown Indicators

	TSPX	QVOY	Difference
Max Drawdown Largest peak-to-trough decline	-7.80%	-17.05%	+9.25%
Max Drawdown (1Y) Largest decline over 1 year	-6.81%	-9.69%	+2.88%
Current Drawdown Current decline from peak	-4.83%	-6.95%	+2.12%
Average Drawdown Average peak-to-trough decline	-1.26%	-3.77%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	2.78%	-1.19%

Volatility

TSPX vs. QVOY - Volatility Comparison

The current volatility for Twin Oak Active Opportunities ETF (TSPX) is 3.98%, while Q3 All-Season Active Rotation ETF (QVOY) has a volatility of 6.16%. This indicates that TSPX experiences smaller price fluctuations and is considered to be less risky than QVOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSPX	QVOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	6.16%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	7.35%	13.84%	-6.49%
Volatility (1Y) Calculated over the trailing 1-year period	11.09%	17.85%	-6.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	15.04%	-3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.05%	15.04%	-3.99%