Which did better when the S&P 500 fell, HEQQ or QTR?

In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HEQQ averaged −1.03% and QTR −1.79%, so HEQQ returned more in those weeks.

Which earned more than cash, HEQQ or QTR?

Over the same weeks, HEQQ finished 0.1 percentage points behind cash and QTR finished 1.7 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, HEQQ or QTR?

HEQQ charges 0.50% a year and QTR charges 0.25%, so QTR is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Alternative ETFs

HEQQ vs QTR: Correlation to the S&P 500

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Over the year to Nov 4, 2026, HEQQ moved less with the S&P 500 than QTR: correlation +0.88 against +0.91.

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Net assets: $30m on Nov 3, 2026 for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF, and $10m on Oct 12, 2026 for Global X NASDAQ 100 Tail Risk ETF.

HEQQ on its own →QTR on its own →

At a glance

+0.88

HEQQ correlation with the S&P 500

+0.91

QTR correlation with the S&P 500

96.6%

HEQQ down-week capture

167.0%

QTR down-week capture

HEQQ Fell with the S&P 500

HEQQ in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HEQQ −1.03%.

QTR Fell more than the S&P 500

QTR in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QTR −1.79%.

Pair scorecard

QTR costs 0.25 points a year less; their one-year returns differ by 2.1 points; HEQQ is 3.1 times larger.

HEQQ vs QTR: Correlation to the S&P 500
Measure	HEQQ	QTR
Return
Measure	HEQQ	QTR
Total return, 1 year	+3.9%	+6.0%
Against its benchmark
Measure	HEQQ	QTR
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	HEQQ	QTR
Expense ratio	0.50%	0.25%
Net assets, as of Oct 12, 2026	$31m	$10m
Holdings
Measure	HEQQ	QTR
Holdings in common	not published
Risk
Measure	HEQQ	QTR
Beta to the S&P 500	+0.81: about 0.81% for each 1%	+1.34: about 1.34% for each 1%
Its average week when the S&P 500 fell	fell 1.03%	fell 1.79%

ETFIQ Stock Diversification Score · HEQQ scores higher How much does it diversify a stock portfolio?

IQ Alternatives Score36.4HEQQ26.1QTR

How much it diversifies a stock portfolio, ranked against 22 equity hedged alternatives ETFs with a full year. 100 is best. How it is computed

HEQQ 36.4

QTR 26.1

4.5, the lowest in this set 95.5, the highest

One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →

Method

Window by window

Window by window: HEQQ vs QTR: Correlation to the S&P 500
	Total return		vs its benchmark
Window	HEQQ	QTR	HEQQ	QTR
3 months	−1.5%	−4.6%	−1.4 pts vs VOO	−4.5 pts vs VOO
6 months	−1.8%	−2.4%	−6.8 pts vs VOO	−7.4 pts vs VOO
1 year	+3.9%	+6.0%	−10.9 pts vs VOO	−8.8 pts vs VOO
3 years	–	+66.0%	–	−17.3 pts vs VOO
Since launchNot the same days: HEQQ Mar 2025 · QTR Aug 2021	+20.7%	+58.6%	−16.9 pts vs VOO	−26.3 pts vs VOO

– means no data for this window. Open this comparison in the app →

Side by side

HEQQ JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options QTR Global X NASDAQ 100 Tail Risk ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options

Issuer JPMorgan Global X

Strategy Hedged equity Hedged equity

Correlation with the S&P 500 +0.88 +0.91

Beta to the S&P 500 +0.81 +1.34

Down-week capture 96.6% 167.0%

Average week when the S&P 500 fell −1.03% −1.79%

The S&P 500 in those weeks −1.07% −1.07%

Total return, same 52 weeks +3.6% +5.4%

Against T-bills, percentage points −0.1 pts +1.7 pts

Expense ratio 0.50% 0.25%

First traded Mar 27, 2025 Aug 26, 2021

Net assets, HEQQ as of Nov 3, 2026 and QTR as of Oct 12, 2026 $30m $10m

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

HEQQ and QTR both run a hedged equity strategy. Over the same 52 weeks to Nov 4, 2026, HEQQ’s weekly returns had a correlation of +0.88 with the S&P 500 and QTR’s +0.91. In the 26 weeks the index fell, by 1.07% a week on average, HEQQ averaged −1.03% and QTR −1.79%. Over the same weeks, HEQQ finished 0.1 percentage points behind cash and QTR finished 1.7 points ahead of cash.

Alert

About each fund

HEQQ

HEQQ is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.88 with the S&P 500’s and a beta of +0.81, so for each 1% the index moved it moved about 0.81% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks HEQQ fell 1.03% on average, a down-week capture of 96.6%. Over the same 52 weeks HEQQ returned +3.6% and a Treasury bill fund +3.7%, so it finished 0.1 percentage points behind cash.

QTR

QTR is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.91 with the S&P 500’s and a beta of +1.34, so for each 1% the index moved it moved about 1.34% the same way. In the same weeks QTR fell 1.79% on average, a down-week capture of 167.0%. Over the same 52 weeks QTR returned +5.4% and a Treasury bill fund +3.7%, so it finished 1.7 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, HEQQ or QTR?: Over the 52 weeks to Nov 4, 2026, HEQQ’s weekly returns had a correlation of +0.88 with the S&P 500 and QTR’s +0.91, so HEQQ moved less with the index.
Which did better when the S&P 500 fell, HEQQ or QTR?: In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HEQQ averaged −1.03% and QTR −1.79%, so HEQQ returned more in those weeks.
Which earned more than cash, HEQQ or QTR?: Over the same weeks, HEQQ finished 0.1 percentage points behind cash and QTR finished 1.7 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, HEQQ or QTR?: HEQQ charges 0.50% a year and QTR charges 0.25%, so QTR is cheaper. Fees come from each fund's prospectus.

Other comparisons

HEQQ vs QBUL HEQQ vs HOLA HEQQ vs HEQT HEQQ vs CAOS QTR vs XTR QTR vs ZHDG QTR vs THEQ QTR vs TOAK

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →HEQQ on its own →QTR on its own →HEQQ dividend history →QTR dividend history →Method →Standards and sources →

Sources and dates

HEQQ filings on SEC EDGAR ↗

HEQQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

QTR filings on SEC EDGAR ↗

QTR prospectus with the expense ratio (SEC) ↗

Global X page for QTR ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, HEQQ against QTR, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/heqq-vs-qtr

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