XSHQ vs. GQI

Last updated Aug 2, 2026

XSHQ (Invesco S&P SmallCap Quality ETF) and GQI (Natixis Gateway Quality Income ETF) are both Quality Factor funds. XSHQ is passively managed, while GQI is actively managed. Over the past year, XSHQ returned 20.29% vs 22.33% for GQI. Their 0.64 correlation means they have sometimes moved together and sometimes differently. XSHQ charges 0.29%/yr vs 0.34%/yr for GQI.

Performance

XSHQ vs. GQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Quality ETF (XSHQ) and Natixis Gateway Quality Income ETF (GQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSHQ achieves a 14.76% return, which is significantly higher than GQI's 9.82% return.

XSHQ

• 1D: -0.08%
• 1M: 0.52%
• 6M: 11.29%
• YTD: 14.76%
• 1Y: 20.29%
• 3Y*: 9.48%
• 5Y*: 7.26%
• 10Y*: —
• ALL TIME*: 8.92%

GQI

• 1D: 0.91%
• 1M: 1.51%
• 6M: 7.93%
• YTD: 9.82%
• 1Y: 22.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.45%

*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)
GQI Natixis Gateway Quality Income ETF	$866.96K	$1.04M	$2.05M
XSHQ Invesco S&P SmallCap Quality ETF	$7.28M	$3.86M	$2.26M

XSHQ vs. GQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XSHQ Invesco S&P SmallCap Quality ETF	14.76%	0.89%	7.49%	7.04%
GQI Natixis Gateway Quality Income ETF	9.82%	15.36%	15.99%	1.60%

Correlation

The correlation between XSHQ and GQI 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 (All Time) Calculated using the full available price history since Dec 13, 2023	0.64

The correlation between XSHQ and GQI has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.

XSHQ vs. GQI - Sectors Allocation Comparison

Sectors	XSHQ	GQI
Financial Services	24.7%	9.9%
Technology	22.6%	37.9%
Industrials	20.5%	8.3%
Consumer Cyclical	14.4%	11.0%
Healthcare	5.8%	10.9%
Energy	4.1%	3.9%
Communication Services	2.9%	10.3%
Basic Materials	2.6%	0.7%
Consumer Defensive	2.4%	6.1%
Real Estate	1.0%	0.4%
Utilities	-	0.6%

Return for Risk

XSHQ vs. GQI — Risk / Return Rank

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

XSHQ

XSHQ Risk / Return Rank: 45
XSHQ Sharpe Ratio Rank: 43
XSHQ Sortino Ratio Rank: 47
XSHQ Omega Ratio Rank: 40
XSHQ Calmar Ratio Rank: 50
XSHQ Martin Ratio Rank: 44

GQI

GQI Risk / Return Rank: 86
GQI Sharpe Ratio Rank: 87
GQI Sortino Ratio Rank: 87
GQI Omega Ratio Rank: 86
GQI Calmar Ratio Rank: 81
GQI Martin Ratio Rank: 91

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.

XSHQ vs. GQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) and Natixis Gateway Quality Income ETF (GQI). 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.

	XSHQ	GQI	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.07	-1.01
Sortino ratio: Return per unit of downside risk	1.71	2.92	-1.21
Omega ratio: Gain probability vs. loss probability	1.19	1.38	-0.19
Calmar ratio: Return relative to maximum drawdown	1.78	2.98	-1.19
Martin ratio: Return relative to average drawdown	4.91	15.46	-10.55

XSHQ vs. GQI - Sharpe Ratio Comparison

The current XSHQ Sharpe Ratio is 1.06, which is lower than the GQI Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of XSHQ and GQI, 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

XSHQ vs. GQI - Drawdown Comparison

The maximum XSHQ drawdown since its inception was -38.33%, which is greater than GQI's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for XSHQ and GQI.

Drawdown Indicators

	XSHQ	GQI	Difference
Max Drawdown Largest peak-to-trough decline	-38.33%	-16.56%	-21.77%
Max Drawdown (1Y) Largest decline over 1 year	-10.27%	-6.96%	-3.31%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	—	—
Current Drawdown Current decline from peak	-0.55%	-0.12%	-0.43%
Average Drawdown Average peak-to-trough decline	-9.19%	-1.62%	-7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	1.34%	+2.39%

Volatility

XSHQ vs. GQI - Volatility Comparison

Invesco S&P SmallCap Quality ETF (XSHQ) has a higher volatility of 4.23% compared to Natixis Gateway Quality Income ETF (GQI) at 2.49%. This indicates that XSHQ's price experiences larger fluctuations and is considered to be riskier than GQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSHQ	GQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	2.49%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	7.65%	+4.04%
Volatility (1Y) Calculated over the trailing 1-year period	17.30%	9.99%	+7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.06%	13.01%	+8.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	13.01%	+9.99%

XSHQ vs. GQI - Expense Ratio Comparison

XSHQ has a 0.29% expense ratio, which is lower than GQI's 0.34% expense ratio.

Dividends

XSHQ vs. GQI - Dividend Comparison

XSHQ's dividend yield for the trailing twelve months is around 1.18%, less than GQI's 8.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQI Natixis Gateway Quality Income ETF	7.83%	8.97%	7.77%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSHQ Invesco S&P SmallCap Quality ETF	1.18%	1.48%	1.18%	1.15%	2.02%	1.25%	1.24%	1.11%	1.16%	0.60%

Frequently Asked Questions

Can I hold both XSHQ and GQI in my portfolio?

XSHQ and GQI 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, XSHQ or GQI?

XSHQ has higher volatility (4.23%) compared to GQI (2.49%). In terms of maximum drawdown, XSHQ dropped -38.33% vs GQI's -16.56%.

Which ETF is better, XSHQ or GQI?

On 1-year performance, GQI leads with 22.33% vs 20.29% for XSHQ. On fees, XSHQ is cheaper at 0.29% per year. On volatility, GQI has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSHQ or GQI?

Over the 1-year period, GQI has performed better with a 22.33% return vs 20.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSHQ or GQI?

XSHQ is cheaper with a 0.29% expense ratio, compared with 0.34% for GQI.

Which ETF pays a higher dividend yield, XSHQ or GQI?

GQI has the higher dividend yield at 7.83%, compared with 1.18% for XSHQ.

What is the main difference between XSHQ and GQI?

They also come from different issuers: Invesco and Natixis. Their fees differ too: 0.29% for XSHQ and 0.34% for GQI.

Which has better risk-adjusted returns?

GQI currently has the higher Sharpe Ratio (2.07 vs 1.06), 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.