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XQLT.TO vs. FDLO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XQLT.TO vs. FDLO

Last updated Jun 9, 2026

XQLT.TO (iShares MSCI USA Quality Factor Index ETF) and FDLO (Fidelity Low Volatility Factor ETF) are both exchange-traded funds - XQLT.TO is a Large Cap Growth Equities fund tracking the MSCI USA Sector Neutral Quality Index, while FDLO is a Volatility Hedged Equity fund tracking the Fidelity U.S. Low Volatility Factor Index. Both are passively managed. Over the past 5 years, XQLT.TO returned 14.58%/yr vs 12.98%/yr for FDLO. A 0.51 correlation means they provide meaningful diversification when combined. XQLT.TO charges 0.32%/yr vs 0.29%/yr for FDLO.

Performance

XQLT.TO vs. FDLO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI USA Quality Factor Index ETF (XQLT.TO) and Fidelity Low Volatility Factor ETF (FDLO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XQLT.TO is traded in CAD, while FDLO is traded in USD. To make them comparable, the FDLO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XQLT.TO achieves a 9.58% return, which is significantly higher than FDLO's 5.77% return.

XQLT.TO

1D
0.47%
1M
3.86%
YTD
9.58%
6M
8.72%
1Y
21.48%
3Y*
20.83%
5Y*
14.58%
10Y*
—

FDLO

1D
-0.40%
1M
2.11%
YTD
5.77%
6M
4.69%
1Y
15.62%
3Y*
15.56%
5Y*
12.98%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XQLT.TO vs. FDLO - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XQLT.TO
iShares MSCI USA Quality Factor Index ETF		9.58%7.09%32.36%28.08%-17.15%27.90%11.61%9.78%
FDLO
Fidelity Low Volatility Factor ETF		5.77%6.67%25.89%13.61%-4.70%23.94%9.52%4.56%

Correlation

The correlation between XQLT.TO and FDLO is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Sep 13, 2019

0.51

The correlation between XQLT.TO and FDLO shifts across timeframes, from 0.51 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.

XQLT.TO vs. FDLO - Sectors Allocation Comparison

Sectors
XQLT.TO
FDLO

Technology

37.0%
33.8%

Financial Services

11.8%
12.1%

Communication Services

11.0%
10.8%

Consumer Cyclical

9.3%
10.1%

Healthcare

8.8%
9.7%

Industrials

7.9%
9.2%

Consumer Defensive

4.9%
4.7%

Energy

4.0%
3.2%

Utilities

1.8%
2.3%

Real Estate

1.8%
2.2%

Basic Materials

1.7%
1.7%

Technology

XQLT.TO
37.0%
FDLO
33.8%

Financial Services

XQLT.TO
11.8%
FDLO
12.1%

Communication Services

XQLT.TO
11.0%
FDLO
10.8%

Consumer Cyclical

XQLT.TO
9.3%
FDLO
10.1%

Healthcare

XQLT.TO
8.8%
FDLO
9.7%

Industrials

XQLT.TO
7.9%
FDLO
9.2%

Consumer Defensive

XQLT.TO
4.9%
FDLO
4.7%

Energy

XQLT.TO
4.0%
FDLO
3.2%

Utilities

XQLT.TO
1.8%
FDLO
2.3%

Real Estate

XQLT.TO
1.8%
FDLO
2.2%

Basic Materials

XQLT.TO
1.7%
FDLO
1.7%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Quality Factor Index ETF

Fidelity Low Volatility Factor ETF

Often compared with XQLT.TO:
XQLT.TO vs. XVLU.TOXQLT.TO vs. HYLD.TOXQLT.TO vs. VOOXQLT.TO vs. SPYXQLT.TO vs. VFV.TOXQLT.TO vs. ZSP.TOXQLT.TO vs. XGRO.TO
Often compared with FDLO:
FDLO vs. FDVVFDLO vs. FULVXFDLO vs. VOOFDLO vs. FDRRFDLO vs. SCHDFDLO vs. FMILFDLO vs. FTLS

Return for Risk

XQLT.TO vs. FDLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XQLT.TO
XQLT.TO Risk / Return Rank: 6060
Overall Rank
XQLT.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XQLT.TO Sortino Ratio Rank: 6262
Sortino Ratio Rank
XQLT.TO Omega Ratio Rank: 5858
Omega Ratio Rank
XQLT.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
XQLT.TO Martin Ratio Rank: 6060
Martin Ratio Rank
FDLO
FDLO Risk / Return Rank: 4848
Overall Rank
FDLO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
FDLO Sortino Ratio Rank: 4949
Sortino Ratio Rank
FDLO Omega Ratio Rank: 4747
Omega Ratio Rank
FDLO Calmar Ratio Rank: 4242
Calmar Ratio Rank
FDLO Martin Ratio Rank: 5252
Martin Ratio Rank
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.

XQLT.TO vs. FDLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor Index ETF (XQLT.TO) and Fidelity Low Volatility Factor ETF (FDLO). 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.

XQLT.TOFDLODifference
Sharpe ratioReturn per unit of total volatility
1.80
1.64

+0.17

Sortino ratioReturn per unit of downside risk
2.60
2.36

+0.25

Omega ratioGain probability vs. loss probability

1.32

1.29

+0.03

Calmar ratioReturn relative to maximum drawdown

2.59

2.26

+0.32

Martin ratioReturn relative to average drawdown

9.77

7.70

+2.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XQLT.TO vs. FDLO - Sharpe Ratio Comparison

The current XQLT.TO Sharpe Ratio is 1.80, which is comparable to the FDLO Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of XQLT.TO and FDLO, 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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Sharpe Ratios by Period

XQLT.TOFDLODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.80

1.64

+0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.91

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

0.80

+0.12

Drawdowns

XQLT.TO vs. FDLO - Drawdown Comparison

The maximum XQLT.TO drawdown since its inception was -25.12%, smaller than the maximum FDLO drawdown of -28.37%. Use the drawdown chart below to compare losses from any high point for XQLT.TO and FDLO.

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Drawdown Indicators

XQLT.TOFDLODifference

Max Drawdown

Largest peak-to-trough decline

-25.12%

-28.37%

+3.25%

Max Drawdown (1Y)

Largest decline over 1 year

-8.35%

-6.94%

-1.41%

Max Drawdown (3Y)

Largest decline over 3 years

-18.95%

-15.12%

-3.83%

Max Drawdown (5Y)

Largest decline over 5 years

-25.12%

-18.14%

-6.98%

Current Drawdown

Current decline from peak

-1.60%

-1.23%

-0.37%

Average Drawdown

Average peak-to-trough decline

-5.20%

-3.15%

-2.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.20%

2.03%

+0.17%

Volatility

XQLT.TO vs. FDLO - Volatility Comparison

iShares MSCI USA Quality Factor Index ETF (XQLT.TO) has a higher volatility of 4.18% compared to Fidelity Low Volatility Factor ETF (FDLO) at 2.43%. This indicates that XQLT.TO's price experiences larger fluctuations and is considered to be riskier than FDLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XQLT.TOFDLODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

2.43%

+1.75%

Volatility (6M)

Calculated over the trailing 6-month period

9.52%

7.36%

+2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

12.01%

9.61%

+2.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

14.35%

+1.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.45%

16.66%

-0.21%

XQLT.TO vs. FDLO - Expense Ratio Comparison

XQLT.TO has a 0.32% expense ratio, which is higher than FDLO's 0.29% expense ratio.

Dividends

XQLT.TO vs. FDLO - Dividend Comparison

XQLT.TO's dividend yield for the trailing twelve months is around 0.64%, less than FDLO's 1.38% yield.

PositionTTM2025202420232022202120202019201820172016
FDLO
Fidelity Low Volatility Factor ETF		1.38%1.37%1.40%1.35%1.49%1.11%1.38%1.55%1.76%1.61%0.55%
XQLT.TO
iShares MSCI USA Quality Factor Index ETF		0.64%0.69%0.72%0.94%1.21%0.87%1.11%1.23%0.00%0.00%0.00%

Frequently Asked Questions

XQLT.TO and FDLO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FDLO is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FDLO is cheaper with a 0.29% expense ratio, compared with 0.32% for XQLT.TO.

XQLT.TO is categorized as Large Cap Growth Equities, while FDLO is Volatility Hedged Equity. XQLT.TO tracks MSCI USA Sector Neutral Quality Index, while FDLO tracks Fidelity U.S. Low Volatility Factor Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.32% for XQLT.TO and 0.29% for FDLO.

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