Data as of Nov 4, 2026.
QBUL vs THEQ: Correlation to the S&P 500
Over the year to Nov 4, 2026, QBUL moved less with the S&P 500 than THEQ: correlation +0.85 against +0.99.
askIQ about this page
askIQ about QBUL and THEQ
Net assets: $28m on Jul 31, 2026 for TrueShares Quarterly Bull Hedge ETF, and $38m on Nov 3, 2026 for T. Rowe Price Hedged Equity ETF.
QBUL in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, QBUL −0.26%.
THEQ in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, THEQ −0.77%.
Pair scorecard
THEQ costs 0.33 points a year less; their one-year returns differ by 8.7 points.
| Measure | QBUL | THEQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +0.4% | +9.1% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.79% | 0.46% |
| Net assets, QBUL as of Jul 31, 2026 and THEQ as of Nov 3, 2026 | $28m | $38m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.20: about 0.20% for each 1% | +0.69: about 0.69% for each 1% |
| Its average week when the S&P 500 fell | fell 0.26% | fell 0.77% |
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
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 →
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | QBUL | THEQ | QBUL | THEQ |
| 3 months | −0.9% | −0.3% | −0.8 pts vs VOO | 0.0 pts vs IWV |
| 6 months | −0.8% | +3.0% | −5.8 pts vs VOO | −1.9 pts vs IWV |
| 1 year | +0.4% | +9.1% | −14.4 pts vs VOO | −5.7 pts vs IWV |
| Since launchNot the same days: QBUL Jul 2024 · THEQ Mar 2025 | +6.5% | +22.4% | −38.0 pts vs VOO | −14.5 pts vs IWV |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
QBUL and THEQ both run a hedged equity strategy. Over the same 52 weeks to Nov 4, 2026, QBUL’s weekly returns had a correlation of +0.85 with the S&P 500 and THEQ’s +0.99. In the 26 weeks the index fell, by 1.07% a week on average, QBUL averaged −0.26% and THEQ −0.77%. Over the same weeks, QBUL finished 3.3 percentage points behind cash and THEQ finished 5.3 points ahead of cash.
QBUL
QBUL 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 +0.85 with the S&P 500’s and a beta of +0.20, so for each 1% the index moved it moved about 0.20% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks QBUL fell 0.26% on average, a down-week capture of 23.9%. Over the same 52 weeks QBUL returned +0.3% and a Treasury bill fund +3.7%, so it finished 3.3 percentage points behind cash.
THEQ
THEQ is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.99 with the S&P 500’s and a beta of +0.69, so for each 1% the index moved it moved about 0.69% the same way. In the same weeks THEQ fell 0.77% on average, a down-week capture of 72.3%. Over the same 52 weeks THEQ returned +9.0% and a Treasury bill fund +3.7%, so it finished 5.3 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, QBUL or THEQ?
- Over the 52 weeks to Nov 4, 2026, QBUL’s weekly returns had a correlation of +0.85 with the S&P 500 and THEQ’s +0.99, so QBUL moved less with the index.
- Which did better when the S&P 500 fell, QBUL or THEQ?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, QBUL averaged −0.26% and THEQ −0.77%, so QBUL returned more in those weeks.
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, QBUL against THEQ, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/qbul-vs-theq
ETFIQ. (Nov 4, 2026). QBUL against THEQ. Retrieved from https://etfiq.com/compare/alternatives/qbul-vs-theq
[QBUL against THEQ (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/qbul-vs-theq)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.