XSHQ vs. USFR
XSHQ (Invesco S&P SmallCap Quality ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - XSHQ is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Quality Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, XSHQ returned 6.38%/yr vs 3.71%/yr for USFR. At a correlation of -0.01, they often move in opposite directions. XSHQ charges 0.29%/yr vs 0.15%/yr for USFR.
Performance
XSHQ vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, XSHQ achieves a 11.54% return, which is significantly higher than USFR's 1.82% return.
XSHQ
- 1D
- -0.74%
- 1M
- 2.36%
- YTD
- 11.54%
- 6M
- 9.12%
- 1Y
- 17.70%
- 3Y*
- 12.17%
- 5Y*
- 6.38%
- 10Y*
- —
USFR
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.71%
- 10Y*
- 2.43%
XSHQ vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSHQ Invesco S&P SmallCap Quality ETF | 11.54% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 17.37% | -6.11% | 7.18% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 0.59% |
Correlation
The correlation between XSHQ and USFR is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017 | -0.01 |
Over the past year, the inverse relationship between XSHQ and USFR has strengthened: their correlation has moved from -0.01 to -0.21, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
XSHQ vs. USFR — Risk / Return Rank
XSHQ
USFR
XSHQ vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.65 | ||
| Sortino ratioReturn per unit of downside risk | -48.50 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 13.31 | -12.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 201.33 | -199.60 |
| Martin ratioReturn relative to average drawdown | 4.75 | 779.76 | -775.02 |
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Drawdowns
XSHQ vs. USFR - Drawdown Comparison
The maximum XSHQ drawdown since its inception was -38.33%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for XSHQ and USFR.
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Drawdown Indicators
| XSHQ | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.33% | -1.36% | -36.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -0.02% | -10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | -0.06% | -27.28% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -0.18% | -27.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -0.74% | 0.00% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -0.15% | -9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 0.01% | +3.73% |
Volatility
XSHQ vs. USFR - Volatility Comparison
Invesco S&P SmallCap Quality ETF (XSHQ) has a higher volatility of 4.09% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that XSHQ's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSHQ | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 0.09% | +4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.87% | 0.19% | +11.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.52% | 0.27% | +17.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.22% | 0.40% | +20.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.09% | 0.78% | +22.31% |
XSHQ vs. USFR - Expense Ratio Comparison
XSHQ has a 0.29% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
XSHQ vs. USFR - Dividend Comparison
XSHQ's dividend yield for the trailing twelve months is around 1.21%, less than USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.21% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% | 0.00% |
Frequently Asked Questions
XSHQ and USFR have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSHQ has higher volatility (4.09%) compared to USFR (0.09%). In terms of maximum drawdown, XSHQ dropped -38.33% vs USFR's -1.36%.
On 5-year performance, XSHQ leads with 6.38% vs 3.71% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XSHQ has performed better with a 6.38% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.29% for XSHQ.
USFR has the higher dividend yield at 3.90%, compared with 1.21% for XSHQ.
XSHQ is categorized as Small Cap Growth Equities, while USFR is Government Bonds. XSHQ tracks S&P SmallCap 600 Quality Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.29% for XSHQ and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.67 vs 1.02), 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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