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FQAL vs SQLT

Fidelity Quality Factor ETF

FQALANYSE Arca

iShares MSCI USA Small-Cap Quality Factor ETF

SQLTBCboe

Overlap

Expense ratio

FQAL −0.05pt a year

FQAL0.15%SQLT0.20%

Avg volume · 30D

FQAL 225.4×the volume

FQAL58.6KSQLT260

FQAL vs SQLT Performance

Jul 31, 2026 – Oct 30, 2026

+1.7%FQAL−1.2%SQLT

Jul 31, 2026 to Oct 30, 2026. FQAL +1.7%. SQLT −1.2%. Use the arrow keys to read each point.−2%0%4%Jul 2026Sep 2026Oct 2026
Expense ratio
FQAL 0.15%, better
SQLT 0.20%
Fund size
FQAL $1.41B
SQLT $7M
1Y total return
FQAL +12.2%
SQLT No data
Yield (12M)
FQAL 1.16%
SQLT No data
Holdings
FQAL 138
SQLT 488
Avg volume (30D)
FQAL 58.6K sh, better
SQLT 260 sh
NAV per share
FQAL $83.39
SQLT $28.26
52W range

ETF.net Grade

FQAL: Cost 84, Risk 70, Mission 89, Tradability 54, Holdings 52, Durability 76. SQLT: Cost 70, Risk 81, Mission not scored, Tradability 7, Holdings 92, Durability 33.
Pillar letters and Scores for FQAL, SQLT, with each pillar’s weight
PillarFQALSQLT
Cost30% weightA84HigherA70
Mission25% weightA89Not scored
Risk15% weightA70A81Higher
Tradability15% weightC54HigherF7
Holdings10% weightC52A92Higher
Durability5% weightA76HigherD33

Rank among US Quality Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FQAL and SQLT are both graded against the same 26 US Quality Index funds, so their Grades compare head to head.

US Quality Index⁠

Category · 26 funds
See all 26 ›

FQAL ranks 3rd and SQLT 10th of 26 funds in the US Quality Index Category.

  1. Rank 1AJQUAJPMorgan U.S. Quality Factor ETFScore 81
  2. Rank 1AQUALiShares MSCI USA Quality Factor ETFScore 81
  3. Rank 3AFQALFidelity Quality Factor ETFScore 75
  4. Rank 4ASPHQInvesco S&P 500 Quality ETFScore 74
  5. Rank 9BVFLOVictoryShares Free Cash Flow ETFScore 63
  6. Rank 10BSQLTiShares MSCI USA Small-Cap Quality Factor ETFScore 60
  7. Rank 11CAVUQAvantis U.S. Quality ETFScore 55

Our read on each fund

ETF.net Research

FQALAFidelity Quality Factor ETF

SQLTBiShares MSCI USA Small-Cap Quality Factor ETF

In short

FQAL Fidelity's own quality screen, boxed into an ETF: roughly 130 U.S. companies picked for profitability, steady cash flow and clean balance sheets, at 0.15% a year, well under the typical fee in the quality-factor group.

SQLT No data

Stated mandate

FQAL The fund prioritizes U.S. companies exhibiting higher profitability, stable cash flows, and strong balance sheets.

SQLT No data

Why people hold it

  • FQAL Costs 0.15% a year, roughly half the typical fee among quality-factor ETFs. That puts it in the cheapest tier of the group, alongside JQUA, VFQY and QUAL.
  • The rulebook is Fidelity's own: the Fidelity U.S. Quality Factor Index, tracked tightly. One of the closer index implementations in its peer group.
  • Live since 2016 and now a multi-billion-dollar fund, so this is a settled product rather than a launch still finding its footing.
  • The screen is explicit about what it wants: higher profitability, stable cash flows, strong balance sheets. No vague 'quality' hand-waving.

SQLT No data

Worth knowing

  • FQAL Roughly 130 stocks, not the whole market. A narrower bench means individual names and sector tilts carry more weight than in a total-market fund.
  • Trading volume is light next to the category's biggest quality funds, which can show up as wider bid-ask spreads.
  • Distributions come quarterly, but the screen hunts profitability and balance-sheet strength, not yield.

SQLT No data

Full FQAL profile⁠

Full SQLT profile⁠

FQAL vs SQLT Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FQAL vs SQLT Cost

Overpaying SQLT vs FQAL

$1,018

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FQAL 0.15%

    $3,137

  • SQLT 0.20%

    $4,155

$10,000
30 years

Cost over time

  • FQAL 0.15%
  • SQLT 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530SQLT $4,155FQAL $3,137

Year by year

YearFQALSQLTOverpaying
10$274$365$91
20$1,071$1,421$350
30$3,137$4,155$1,018

Expense ratio

  • 0.15%FQAL, cheaper
  • 0.20%SQLT
  • Middle half of US Quality Index funds
  • Median 0.39%

FQAL 3rd cheapest of 26 funds

SQLT 8th cheapest of 26 funds

FQAL vs SQLT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FQAL 1.16%
SQLT No data
Payout (12M)
FQAL $0.97
SQLT No data
Last payment
FQAL $0.24
SQLT $0.08
Ex-dividend
FQAL Sep 18, 2026
SQLT Sep 15, 2026
Paid on
FQAL Sep 22, 2026
SQLT Sep 18, 2026
Frequency
FQAL Quarterly
SQLT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FQALQuarterly · 39 paymentsAll FQAL payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.08; Jun 16, 2017 $0.13; Sep 15, 2017 $0.15; Dec 15, 2017 $0.12; Mar 16, 2018 $0.13; Jun 15, 2018 $0.15; Sep 21, 2018 $0.11; Dec 21, 2018 $0.13; Mar 15, 2019 $0.14; Jun 21, 2019 $0.15; Sep 20, 2019 $0.15; Dec 20, 2019 $0.14; Mar 20, 2020 $0.17; Jun 19, 2020 $0.15; Sep 18, 2020 $0.15; Dec 18, 2020 $0.16; Mar 19, 2021 $0.17; Jun 18, 2021 $0.15; Sep 17, 2021 $0.19; Dec 17, 2021 $0.15; Mar 18, 2022 $0.18; Jun 17, 2022 $0.18; Sep 16, 2022 $0.18; Dec 16, 2022 $0.13; Mar 17, 2023 $0.20; Jun 16, 2023 $0.18; Sep 15, 2023 $0.18; Dec 15, 2023 $0.18; Mar 15, 2024 $0.16; Jun 21, 2024 $0.18; Sep 20, 2024 $0.20; Dec 20, 2024 $0.24; Mar 21, 2025 $0.20; Jun 20, 2025 $0.21; Sep 19, 2025 $0.22; Dec 19, 2025 $0.22; Mar 20, 2026 $0.26; Jun 18, 2026 $0.25; Sep 18, 2026 $0.24. Use the arrow keys to read each point.$0$0.252017202020232026YTD
SQLTQuarterly · 2 paymentsAll SQLT payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 15, 2026 $0.06; Sep 15, 2026 $0.08. Use the arrow keys to read each point.$0$0.252017202020232026YTD

FQAL vs SQLT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FQAL 11.0%SQLT No data
Return per unit of riskSharpe ratio, 3 years
FQAL 1.45SQLT No data
Worst fallMax drawdown, 5 years
FQAL −25.5%SQLT No data
Market sensitivityBeta, 5 years
FQAL 0.95SQLT −0.34

FQAL and SQLT in the news

All news⁠

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