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XOVR vs. QWLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XOVR vs. QWLD

Last updated Aug 4, 2026
Documentation

XOVR (ERShares Private-Public Crossover ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds. XOVR is actively managed, while QWLD is passively managed. Over the past 5 years, XOVR returned 3.37%/yr vs 10.04%/yr for QWLD. Their 0.68 correlation means they have sometimes moved together and sometimes differently. XOVR charges 0.75%/yr vs 0.30%/yr for QWLD.

Performance

XOVR vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ERShares Private-Public Crossover ETF (XOVR) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XOVR achieves a -4.47% return, which is significantly lower than QWLD's 10.03% return.

XOVR

1D
3.44%
1M
-8.38%
6M
4.57%
YTD
-4.47%
1Y
-0.88%
3Y*
16.81%
5Y*
3.37%
10Y*
—
ALL TIME*
9.77%

QWLD

1D
0.58%
1M
2.22%
6M
5.89%
YTD
10.03%
1Y
19.80%
3Y*
16.43%
5Y*
10.04%
10Y*
11.64%
ALL TIME*
10.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QWLD

SPDR MSCI World StrategicFactors ETF
$247.86K$289.30K$1.06M

XOVR

ERShares Private-Public Crossover ETF
$32.19M$37.02M$109.67M

XOVR vs. QWLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XOVR
ERShares Private-Public Crossover ETF		-4.47%11.83%33.21%51.89%-41.09%-7.24%50.39%31.72%-5.02%1.54%
QWLD
SPDR MSCI World StrategicFactors ETF		10.03%17.93%14.44%19.59%-13.30%21.57%10.24%27.59%-7.02%3.48%

Correlation

The correlation between XOVR and QWLD is 0.53, 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.

0.53

Correlation (3Y)
Balances recent behavior with more history.

0.65

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.73

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2017

0.68

The correlation between XOVR and QWLD shifts across timeframes, from 0.53 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

XOVR vs. QWLD - Sectors Allocation Comparison

Sectors
XOVR
QWLD

Technology

34.5%
24.9%

Communication Services

24.2%
9.5%

Healthcare

18.5%
13.2%

Financial Services

9.9%
16.5%

Consumer Cyclical

6.7%
6.3%

Industrials

6.2%
10.9%

Energy

3.1%
3.4%

Basic Materials

-

2.5%

Consumer Defensive

-

8.1%

Real Estate

-

1.0%

Utilities

-

3.8%

Technology

XOVR
34.5%
QWLD
24.9%

Communication Services

XOVR
24.2%
QWLD
9.5%

Healthcare

XOVR
18.5%
QWLD
13.2%

Financial Services

XOVR
9.9%
QWLD
16.5%

Consumer Cyclical

XOVR
6.7%
QWLD
6.3%

Industrials

XOVR
6.2%
QWLD
10.9%

Energy

XOVR
3.1%
QWLD
3.4%

Basic Materials

XOVR

-

QWLD
2.5%

Consumer Defensive

XOVR

-

QWLD
8.1%

Real Estate

XOVR

-

QWLD
1.0%

Utilities

XOVR

-

QWLD
3.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ERShares Private-Public Crossover ETF

SPDR MSCI World StrategicFactors ETF

Often compared with XOVR:
XOVR vs. QQQXOVR vs. ARKVXXOVR vs. VOOXOVR vs. ARKXXOVR vs. DXYZXOVR vs. SPYXOVR vs. ARKK
Often compared with QWLD:
QWLD vs. URTHQWLD vs. DGTQWLD vs. SPGMQWLD vs. VTQWLD vs. VWICXQWLD vs. JPGL.LQWLD vs. QVML

Return for Risk

XOVR vs. QWLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XOVR
XOVR Risk / Return Rank: 1111
Overall Rank
XOVR Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
XOVR Sortino Ratio Rank: 1111
Sortino Ratio Rank
XOVR Omega Ratio Rank: 1111
Omega Ratio Rank
XOVR Calmar Ratio Rank: 1111
Calmar Ratio Rank
XOVR Martin Ratio Rank: 1111
Martin Ratio Rank
QWLD
QWLD Risk / Return Rank: 8181
Overall Rank
QWLD Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
QWLD Sortino Ratio Rank: 8585
Sortino Ratio Rank
QWLD Omega Ratio Rank: 8383
Omega Ratio Rank
QWLD Calmar Ratio Rank: 7272
Calmar Ratio Rank
QWLD Martin Ratio Rank: 8282
Martin Ratio Rank
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.

XOVR vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ERShares Private-Public Crossover ETF (XOVR) 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.

XOVRQWLDDifference
Sharpe ratioReturn per unit of total volatility
-0.04
2.06

-2.09

Sortino ratioReturn per unit of downside risk
0.11
2.91

-2.80

Omega ratioGain probability vs. loss probability

1.01

1.37

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.04

2.60

-2.63

Martin ratioReturn relative to average drawdown

-0.08

11.35

-11.43

XOVR vs. QWLD - Sharpe Ratio Comparison

The current XOVR Sharpe Ratio is -0.04, which is lower than the QWLD Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of XOVR 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.

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Drawdowns

XOVR vs. QWLD - Drawdown Comparison

The maximum XOVR drawdown since its inception was -56.28%, which is greater than QWLD's maximum drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for XOVR and QWLD.

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Drawdown Indicators

XOVRQWLDDifference

Max Drawdown

Largest peak-to-trough decline

-56.28%

-31.89%

-24.39%

Max Drawdown (1Y)

Largest decline over 1 year

-24.32%

-7.66%

-16.66%

Max Drawdown (3Y)

Largest decline over 3 years

-25.23%

-12.40%

-12.83%

Max Drawdown (5Y)

Largest decline over 5 years

-49.35%

-22.84%

-26.51%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.89%

—

Current Drawdown

Current decline from peak

-11.38%

0.00%

-11.38%

Average Drawdown

Average peak-to-trough decline

-18.21%

-3.66%

-14.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.53%

1.75%

+9.78%

Volatility

XOVR vs. QWLD - Volatility Comparison

ERShares Private-Public Crossover ETF (XOVR) has a higher volatility of 7.84% compared to SPDR MSCI World StrategicFactors ETF (QWLD) at 2.28%. This indicates that XOVR'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.

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Volatility by Period

XOVRQWLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.84%

2.28%

+5.56%

Volatility (6M)

Calculated over the trailing 6-month period

19.11%

7.74%

+11.37%

Volatility (1Y)

Calculated over the trailing 1-year period

23.67%

9.70%

+13.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.68%

13.51%

+13.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.03%

15.12%

+11.91%

XOVR vs. QWLD - Expense Ratio Comparison

XOVR has a 0.75% expense ratio, which is higher than QWLD's 0.30% expense ratio.

Dividends

XOVR vs. QWLD - Dividend Comparison

XOVR has not paid dividends to shareholders, while QWLD's dividend yield for the trailing twelve months is around 1.78%.

PositionTTM20252024202320222021202020192018201720162015
QWLD
SPDR MSCI World StrategicFactors ETF		1.78%1.85%1.74%1.78%2.02%1.77%1.77%2.13%2.33%2.73%2.22%3.42%
XOVR
ERShares Private-Public Crossover ETF		0.00%0.00%0.00%0.00%0.00%57.75%6.31%0.08%3.71%0.08%0.00%0.00%

Frequently Asked Questions

XOVR and QWLD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XOVR has higher volatility (7.84%) compared to QWLD (2.28%). In terms of maximum drawdown, XOVR dropped -56.28% vs QWLD's -31.89%.

On 5-year performance, QWLD leads with 10.04% vs 3.37% for XOVR. On fees, QWLD is cheaper at 0.30% per year. On volatility, QWLD has been the lower-risk option at 2.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QWLD has performed better with a 10.04% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QWLD is cheaper with a 0.30% expense ratio, compared with 0.75% for XOVR.

QWLD has the higher dividend yield at 1.78%, compared with 0.00% for XOVR.

They also come from different issuers: ERShares and State Street. Their fees differ too: 0.75% for XOVR and 0.30% for QWLD.

QWLD currently has the higher Sharpe Ratio (2.06 vs -0.04), 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.

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