Skip to content
etf.net

QUAL vs XSHQ

iShares MSCI USA Quality Factor ETF

QUALACboe

Invesco S&P SmallCap Quality ETF

XSHQBCboe

Overlap

Expense ratio

QUAL −0.14pt a year

QUAL0.15%XSHQ0.29%

Avg volume · 30D

QUAL 30.1×the volume

QUAL1.03MXSHQ34.3K

5Y return · a year

QUAL +5.0pt

QUAL+10.7%XSHQ+5.7%

QUAL vs XSHQ Performance

Oct 29, 2021 – Oct 30, 2026

+66.2%QUAL+32.0%XSHQ

Oct 29, 2021 to Oct 30, 2026. QUAL +66.2%. XSHQ +32.0%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
QUAL 0.15%, better
XSHQ 0.29%
Fund size
QUAL $48B
XSHQ $296M
1Y total return
QUAL +14.4%, better
XSHQ +13.6%
Yield (12M)
QUAL 0.85%
XSHQ 1.19%, better
Holdings
QUAL 121
XSHQ 117
Avg volume (30D)
QUAL 1.03M sh, better
XSHQ 34.3K sh
NAV per share
QUAL $222.43
XSHQ $46.37
52W range

ETF.net Grade

QUAL: Cost 84, Risk 64, Mission 94, Tradability 96, Holdings 35, Durability 96. XSHQ: Cost 56, Risk 26, Mission 66, Tradability 51, Holdings 73, Durability 61.
Pillar letters and Scores for QUAL, XSHQ, with each pillar’s weight
PillarQUALXSHQ
Cost30% weightA84HigherB56
Mission25% weightA94HigherB66
Risk15% weightB64HigherD26
Tradability15% weightA96HigherC51
Holdings10% weightD35A73Higher
Durability5% weightA96HigherB61

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. QUAL and XSHQ 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 ›

QUAL ranks 1st and XSHQ 11th 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 11BFLOWGlobal X U.S. Cash Flow Kings 100 ETFScore 55
  5. Rank 11BXSHQInvesco S&P SmallCap Quality ETFScore 55
  6. Rank 15BVUSEVident U.S. Equity Strategy ETFScore 54

Our read on each fund

ETF.net Research

QUALAiShares MSCI USA Quality Factor ETF

XSHQBInvesco S&P SmallCap Quality ETF

In short

QUAL QUAL screens US large and mid caps for high return on equity, low debt and steady earnings, then does it sector by sector, so the portfolio stays spread across the market instead of piling into whichever sector looks healthiest.

XSHQ Most quality ETFs shop the S&P 500. XSHQ works the small-cap aisle: start with an index that already requires positive earnings, then keep the roughly 120 names scoring best on profits, accruals and leverage.

Stated mandate

QUAL The fund tracks an index of U.S. large- and mid-capitalization stocks selected for quality characteristics, including high return on equity, stable earnings, and low debt.

XSHQ The Fund seeks to track, before fees and expenses, the price and yield performance of the S&P SmallCap 600 Quality Index.

Why people hold it

  • QUAL At 0.15%, it undercuts the typical quality-factor fund, where the cohort median sits at 0.29%.
  • Sector neutral by design: companies are ranked on return on equity, leverage and earnings variability against rivals in their own GICS sector.msci.comishares.com
  • Running since 2013, now a $25B-$100B fund that trades actively, with returns that stay close to its index.
  • XSHQ Quality is a formula, not a vibe: names ranked on return on equity, accruals ratio and financial leverage, weighted by score times market cap, reset each June and December.invesco.comspglobal.com
  • The starting pool is already picky: S&P 600 membership requires positive earnings in the latest quarter and across the trailing four, so chronic money-losers never reach the screen.sec.gov
  • Live since 2017, and no other fund in its quality-factor peer group tracks this index. It is the small-cap specialist in a lineup built around blue chips.
  • Holdings line up closely with what the label promises, and the fund sits in the upper half of its quality-factor peer group. It pays quarterly.

Worth knowing

  • QUAL About 120 large and mid caps, leaning on the same familiar giants as a broad US index fund. This is a tilt on core equity, not new ground.
  • Sector neutrality cuts both ways: it keeps a foot in every sector rather than stepping away from ones with weak fundamentals.msci.com
  • Cheap, not cheapest. JQUA (0.12%) and VFQY (0.13%) shave a basis point or three off the fee.
  • XSHQ At 0.29% it runs about double the big large-cap quality funds (JQUA 0.12%, QUAL 0.15%), though that is right at the median for the wider quality group.
  • Trades thinly next to the large-cap quality names, so spreads can widen at the open and close.
  • Small caps swing harder than blue chips, and the screen narrows to about 120 names, so one company's stumble carries more weight.

Full QUAL profile⁠

Full XSHQ profile⁠

QUAL vs XSHQ 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.

QUAL vs XSHQ Cost

Overpaying XSHQ vs QUAL

$2,815

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

  • QUAL 0.15%

    $3,137

  • XSHQ 0.29%

    $5,952

$10,000
30 years

Cost over time

  • QUAL 0.15%
  • XSHQ 0.29%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530XSHQ $5,952QUAL $3,137

Year by year

YearQUALXSHQOverpaying
10$274$527$253
20$1,071$2,044$973
30$3,137$5,952$2,815

Expense ratio

  • 0.15%QUAL, cheaper
  • 0.29%XSHQ
  • Middle half of US Quality Index funds
  • Median 0.39%

QUAL 3rd cheapest of 26 funds

XSHQ 12th cheapest of 26 funds

QUAL vs XSHQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QUAL 0.85%
XSHQ 1.19%, better
Payout (12M)
QUAL $1.89
XSHQ $0.55
Last payment
QUAL $0.47
XSHQ $0.12
Ex-dividend
QUAL Sep 15, 2026
XSHQ Sep 21, 2026
Paid on
QUAL Sep 18, 2026
XSHQ Sep 25, 2026
Frequency
QUAL Quarterly
XSHQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QUALQuarterly · 40 paymentsAll QUAL payments⁠
One bar per payment. 40 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.35; Jun 27, 2017 $0.39; Sep 26, 2017 $0.34; Dec 21, 2017 $0.38; Mar 22, 2018 $0.38; Jun 26, 2018 $0.38; Sep 26, 2018 $0.37; Dec 17, 2018 $0.41; Mar 20, 2019 $0.35; Jun 17, 2019 $0.45; Sep 24, 2019 $0.37; Dec 16, 2019 $0.44; Mar 25, 2020 $0.41; Jun 15, 2020 $0.36; Sep 23, 2020 $0.44; Dec 14, 2020 $0.41; Mar 25, 2021 $0.54; Jun 10, 2021 $0.38; Sep 24, 2021 $0.42; Dec 13, 2021 $0.41; Mar 24, 2022 $0.38; Jun 9, 2022 $0.42; Sep 26, 2022 $0.53; Dec 13, 2022 $0.48; Mar 23, 2023 $0.37; Jun 7, 2023 $0.38; Sep 26, 2023 $0.51; Dec 20, 2023 $0.45; Dec 28, 2023 $0.10; Mar 21, 2024 $0.37; Jun 11, 2024 $0.35; Sep 25, 2024 $0.54; Dec 17, 2024 $0.55; Mar 18, 2025 $0.39; Jun 16, 2025 $0.39; Sep 16, 2025 $0.47; Dec 16, 2025 $0.61; Mar 17, 2026 $0.42; Jun 15, 2026 $0.39; Sep 15, 2026 $0.47. Use the arrow keys to read each point.$0$0.502017202020232026YTD
XSHQQuarterly · 39 paymentsAll XSHQ payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.05; Sep 18, 2017 $0.05; Dec 18, 2017 $0.12; Mar 19, 2018 $0.06; Jun 18, 2018 $0.04; Sep 24, 2018 $0.07; Dec 24, 2018 $0.12; Dec 26, 2018 $0.0049; Mar 18, 2019 $0.06; Jun 24, 2019 $0.09; Sep 23, 2019 $0.03; Dec 23, 2019 $0.13; Mar 23, 2020 $0.13; Jun 22, 2020 $0.06; Sep 21, 2020 $0.12; Dec 21, 2020 $0.09; Mar 22, 2021 $0.06; Jun 21, 2021 $0.07; Sep 20, 2021 $0.12; Dec 20, 2021 $0.25; Mar 21, 2022 $0.16; Jun 21, 2022 $0.17; Sep 19, 2022 $0.12; Dec 19, 2022 $0.21; Mar 20, 2023 $0.12; Jun 20, 2023 $0.13; Sep 18, 2023 $0.11; Dec 18, 2023 $0.11; Mar 18, 2024 $0.12; Jun 24, 2024 $0.10; Sep 23, 2024 $0.15; Dec 23, 2024 $0.13; Mar 24, 2025 $0.15; Jun 23, 2025 $0.10; Sep 22, 2025 $0.14; Dec 22, 2025 $0.24; Mar 23, 2026 $0.16; Jun 22, 2026 $0.03; Sep 21, 2026 $0.12. Use the arrow keys to read each point.$0$0.502017202020232026YTD

QUAL vs XSHQ Risk

Fall from peak · 5 years

  • QUAL
  • XSHQ
Oct 29, 2021 to Oct 30, 2026. Worst fall: QUAL −28.2% · Oct 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
QUAL 11.7%, betterXSHQ 17.6%
Return per unit of riskSharpe ratio, 3 years
QUAL 1.32, betterXSHQ 0.50
Worst fallMax drawdown, 5 years
QUAL −28.2%XSHQ −27.4%, better
Market sensitivityBeta, 5 years
QUAL 0.90XSHQ 0.95

QUAL and XSHQ in the news

All news⁠

Popular comparisons

  • QUALAvsJQUAA

    iShares MSCI USA Quality Factor ETF · JPMorgan U.S. Quality Factor ETF

    Expense ratio
    0.15% · 0.12%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSHQBvsJQUAA

    Invesco S&P SmallCap Quality ETF · JPMorgan U.S. Quality Factor ETF

    Expense ratio
    0.29% · 0.12%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QUALAvsFQALA

    iShares MSCI USA Quality Factor ETF · Fidelity Quality Factor ETF

    Expense ratio
    0.15% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSHQBvsFQALA

    Invesco S&P SmallCap Quality ETF · Fidelity Quality Factor ETF

    Expense ratio
    0.29% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QUALAvsSPHQA

    iShares MSCI USA Quality Factor ETF · Invesco S&P 500 Quality ETF

    Expense ratio
    0.15% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSHQBvsSPHQA

    Invesco S&P SmallCap Quality ETF · Invesco S&P 500 Quality ETF

    Expense ratio
    0.29% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.