{"url":"https://etfiq.com/compare/alternatives/hdg-vs-qis","section":"compare","title":"HDG vs QIS: Correlation to the S&P 500 | ETFIQ","description":"HDG and QIS both run multi-strategy strategies. Over the year to Nov 4, 2026, HDG had a correlation of +0.85 with the S&P 500 and QIS +0.03.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HDG or QIS?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, HDG\u2019s weekly returns had a correlation of +0.85 with the S&P 500 and QIS\u2019s +0.03, so QIS moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HDG or QIS?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HDG averaged \u22120.41% and QIS \u22122.05%, so HDG returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HDG or QIS?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HDG finished 3.0 percentage points ahead of cash and QIS finished 50.7 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HDG or QIS?","acceptedAnswer":{"@type":"Answer","text":"HDG charges 0.95% a year and QIS charges 1.13%, so HDG is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"HDG vs QIS","item":"https://etfiq.com/compare/alternatives/hdg-vs-qis"}]},{"@type":"WebPage","name":"HDG vs QIS: Correlation to the S&P 500","description":"HDG and QIS both run multi-strategy strategies. Over the year to Nov 4, 2026, HDG had a correlation of +0.85 with the S&P 500 and QIS +0.03.","url":"https://etfiq.com/compare/alternatives/hdg-vs-qis","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, QIS moved less with the S&P 500 than HDG: correlation +0.03 against +0.85.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HDG and QIS","description":"HDG and QIS both run multi-strategy strategies. Over the year to Nov 4, 2026, HDG had a correlation of +0.85 with the S&P 500 and QIS +0.03.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/hdg-vs-qis","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6445,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HDG vs QIS \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n HDG vs QIS: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, QIS moved less with the S&P 500 than HDG: correlation +0.03 against +0.85.\n Copy this for sharing \n \n HDG costs 0.18 points a year less; their one-year returns differ by 53.1 points; QIS is 2.1 times larger.\n HDG and QIS at a glance. As of Nov 4, 2026. Source: ETFIQ. HDG QIS \n Expense ratio 0.95% 1.13% \n Net assets, as of Nov 3, 2026 $22m $47m \n Total return, 1 year +7.3% \u221245.8% \n Holdings in common n","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HDG against QIS, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/hdg-vs-qis","a":{"ticker":"HDG","name":"ProShares Hedge Replication ETF","issuer":"ProShares","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HDG returned 7.3%, against 14.8% for VOO.","url":"https://etfiq.com/funds/hdg","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.85","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.37","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"38.0%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+3.0 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"2.4%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.3004","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$22m","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"QIS","name":"Simplify Multi-QIS Alternative ETF","issuer":"Simplify","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, QIS lost 45.8%. When the S&P 500 fell, it fell 1.9 times as much.","url":"https://etfiq.com/funds/qis","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.03","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.10","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"191.0%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u221250.7 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"3.3%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 25, 2026","value":"$0.50","as_of":"2026-09-25","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$47m","as_of":"2026-11-03","source":"issuer page, as of Nov 3, 2026"},{"label":"Expense ratio","value":"1.13%","as_of":"2026-10-28","source":"485BPOS XBRL, Oct 28, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/hdg-vs-qis"}