USXF vs. QWLD

Last updated Aug 2, 2026

USXF (iShares ESG Advanced MSCI USA ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds - USXF tracks the MSCI USA Choice ESG Screened Index while QWLD tracks the MSCI World Factor Mix A-Series (USD). Both are passively managed. Over the past 5 years, USXF returned 13.51%/yr vs 10.03%/yr for QWLD. Their correlation of 0.84 means they have usually moved in the same direction. USXF charges 0.10%/yr vs 0.30%/yr for QWLD.

Performance

USXF vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced MSCI USA ETF (USXF) 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, USXF achieves a 15.33% return, which is significantly higher than QWLD's 9.39% return.

USXF

• 1D: 0.18%
• 1M: -1.67%
• 6M: 12.80%
• YTD: 15.33%
• 1Y: 22.27%
• 3Y*: 22.53%
• 5Y*: 13.51%
• 10Y*: —
• ALL TIME*: 18.07%

QWLD

• 1D: 0.22%
• 1M: 1.63%
• 6M: 6.46%
• YTD: 9.39%
• 1Y: 19.11%
• 3Y*: 15.49%
• 5Y*: 10.03%
• 10Y*: 11.57%
• ALL TIME*: 10.49%

*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	$231.12K	$297.84K	$1.04M
USXF iShares ESG Advanced MSCI USA ETF	$4.83M	$3.89M	$4.14M

USXF vs. QWLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USXF iShares ESG Advanced MSCI USA ETF	15.33%	16.97%	26.16%	31.65%	-21.20%	27.14%	23.07%
QWLD SPDR MSCI World StrategicFactors ETF	9.39%	17.93%	14.44%	19.59%	-13.30%	21.57%	17.01%

Correlation

The correlation between USXF and QWLD is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020	0.84

The correlation between USXF and QWLD shifts across timeframes, from 0.65 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

USXF vs. QWLD - Sectors Allocation Comparison

Sectors	USXF	QWLD
Technology	55.3%	24.9%
Financial Services	14.7%	16.5%
Industrials	8.7%	10.9%
Consumer Cyclical	6.4%	6.3%
Healthcare	5.6%	13.2%
Real Estate	3.7%	1.0%
Communication Services	2.3%	9.5%
Basic Materials	2.2%	2.5%
Consumer Defensive	0.9%	8.1%
Utilities	0.1%	3.8%
Energy	0.1%	3.4%

Return for Risk

USXF vs. QWLD — Risk / Return Rank

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

USXF

USXF Risk / Return Rank: 49
USXF Sharpe Ratio Rank: 45
USXF Sortino Ratio Rank: 43
USXF Omega Ratio Rank: 42
USXF Calmar Ratio Rank: 57
USXF Martin Ratio Rank: 60

QWLD

QWLD Risk / Return Rank: 80
QWLD Sharpe Ratio Rank: 83
QWLD Sortino Ratio Rank: 84
QWLD Omega Ratio Rank: 82
QWLD Calmar Ratio Rank: 70
QWLD Martin Ratio Rank: 81

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.

USXF vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI USA ETF (USXF) 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.

	USXF	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.93	-0.83
Sortino ratio: Return per unit of downside risk	1.58	2.75	-1.17
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.15
Calmar ratio: Return relative to maximum drawdown	2.02	2.44	-0.42
Martin ratio: Return relative to average drawdown	7.03	10.67	-3.64

USXF vs. QWLD - Sharpe Ratio Comparison

The current USXF Sharpe Ratio is 1.10, which is lower than the QWLD Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of USXF 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

USXF vs. QWLD - Drawdown Comparison

The maximum USXF drawdown since its inception was -29.54%, smaller than the maximum QWLD drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for USXF and QWLD.

Drawdown Indicators

	USXF	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-29.54%	-31.89%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-7.66%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-20.93%	-12.40%	-8.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-22.84%	-6.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	-4.99%	0.00%	-4.99%
Average Drawdown Average peak-to-trough decline	-6.34%	-3.66%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	1.75%	+1.18%

Volatility

USXF vs. QWLD - Volatility Comparison

iShares ESG Advanced MSCI USA ETF (USXF) has a higher volatility of 6.05% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.30%. This indicates that USXF'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

	USXF	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	2.30%	+3.75%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	7.73%	+7.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.73%	9.71%	+9.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	13.51%	+6.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	15.12%	+4.26%

USXF vs. QWLD - Expense Ratio Comparison

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

Dividends

USXF vs. QWLD - Dividend Comparison

USXF's dividend yield for the trailing twelve months is around 0.83%, less than QWLD's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QWLD SPDR MSCI World StrategicFactors ETF	1.79%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%
USXF iShares ESG Advanced MSCI USA ETF	0.83%	0.93%	1.00%	1.21%	1.39%	0.86%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USXF and QWLD in my portfolio?

USXF and QWLD have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USXF or QWLD?

USXF has higher volatility (6.05%) compared to QWLD (2.30%). In terms of maximum drawdown, USXF dropped -29.54% vs QWLD's -31.89%.

Which ETF is better, USXF or QWLD?

On 5-year performance, USXF leads with 13.51% vs 10.03% for QWLD. On fees, USXF is cheaper at 0.10% per year. On volatility, QWLD has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USXF or QWLD?

Over the 5-year period, USXF has performed better with a 13.51% return vs 10.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USXF or QWLD?

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

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

QWLD has the higher dividend yield at 1.79%, compared with 0.83% for USXF.

What is the main difference between USXF and QWLD?

USXF tracks MSCI USA Choice ESG Screened 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 USXF and 0.30% for QWLD.

Which has better risk-adjusted returns?

QWLD currently has the higher Sharpe Ratio (1.93 vs 1.10), 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.