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

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

Which earned more than cash, QTR or XTR?

Over the same weeks, QTR finished 1.7 percentage points ahead of cash and XTR finished 6.3 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, QTR or XTR?

QTR and XTR both charge 0.25% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Alternative ETFs

QTR vs XTR: Correlation to the S&P 500

Share on X Download as PDF

Over the year to Nov 4, 2026, QTR moved less with the S&P 500 than XTR: correlation +0.91 against +1.00.

askIQ about this page

askIQ about QTR and XTR

Net assets on Oct 12, 2026: $10m for Global X NASDAQ 100 Tail Risk ETF and $5.0m for Global X S&P 500 Tail Risk ETF.

QTR on its own →XTR on its own →

At a glance

+0.91

QTR correlation with the S&P 500

+1.00

XTR correlation with the S&P 500

167.0%

QTR down-week capture

100.0%

XTR down-week capture

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%.

XTR Fell with the S&P 500

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

Pair scorecard

Both cost 0.25% a year; their one-year returns differ by 4.2 points; QTR is 2.0 times larger.

QTR vs XTR: Correlation to the S&P 500
Measure	QTR	XTR
Return
Measure	QTR	XTR
Total return, 1 year	+6.0%	+10.2%
Against its benchmark
Measure	QTR	XTR
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	QTR	XTR
Expense ratio	0.25%	0.25%
Net assets, as of Oct 12, 2026	$10m	$5.0m
Holdings
Measure	QTR	XTR
Holdings in common	not published
Risk
Measure	QTR	XTR
Beta to the S&P 500	+1.34: about 1.34% for each 1%	+0.94: about 0.94% for each 1%
Its average week when the S&P 500 fell	fell 1.79%	fell 1.07%

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

IQ Alternatives Score26.1QTR4.5XTR

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

QTR 26.1

XTR 4.5

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: QTR vs XTR: Correlation to the S&P 500
	Total return		vs its benchmark
Window	QTR	XTR	QTR	XTR
3 months	−4.6%	−1.0%	−4.5 pts vs VOO	−0.9 pts vs VOO
6 months	−2.4%	+3.4%	−7.4 pts vs VOO	−1.6 pts vs VOO
1 year	+6.0%	+10.2%	−8.8 pts vs VOO	−4.6 pts vs VOO
3 years	+66.0%	+65.7%	−17.3 pts vs VOO	−17.6 pts vs VOO
Since launchQTR Aug 2021 · XTR Aug 2021	+58.6%	+58.1%	−26.3 pts vs VOO	−26.8 pts vs VOO

Open this comparison in the app →

Side by side

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 XTR Global X S&P 500 Tail Risk ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options

Issuer Global X Global X

Strategy Hedged equity Hedged equity

Correlation with the S&P 500 +0.91 +1.00

Beta to the S&P 500 +1.34 +0.94

Down-week capture 167.0% 100.0%

Average week when the S&P 500 fell −1.79% −1.07%

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

Total return, same 52 weeks +5.4% +9.9%

Against T-bills, percentage points +1.7 pts +6.3 pts

Expense ratio 0.25% 0.25%

First traded Aug 26, 2021 Aug 26, 2021

Net assets, as of Oct 12, 2026 $10m $5.0m

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

QTR and XTR both run a hedged equity strategy. Over the same 52 weeks to Nov 4, 2026, QTR’s weekly returns had a correlation of +0.91 with the S&P 500 and XTR’s +1.00. In the 26 weeks the index fell, by 1.07% a week on average, QTR averaged −1.79% and XTR −1.07%. Over the same weeks, QTR finished 1.7 percentage points ahead of cash and XTR finished 6.3 points ahead of cash.

Alert

About each fund

QTR

QTR 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 +0.91 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. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. 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.

XTR

XTR is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +1.00 with the S&P 500’s and a beta of +0.94, so for each 1% the index moved it moved about 0.94% the same way. In the same weeks XTR fell 1.07% on average, a down-week capture of 100.0%. Over the same 52 weeks XTR returned +9.9% and a Treasury bill fund +3.7%, so it finished 6.3 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, QTR or XTR?: Over the 52 weeks to Nov 4, 2026, QTR’s weekly returns had a correlation of +0.91 with the S&P 500 and XTR’s +1.00, so QTR moved less with the index.
Which did better when the S&P 500 fell, QTR or XTR?: In the 26 weeks the S&P 500 fell, by 1.07% a week on average, QTR averaged −1.79% and XTR −1.07%, so XTR returned more in those weeks.
Which earned more than cash, QTR or XTR?: Over the same weeks, QTR finished 1.7 percentage points ahead of cash and XTR finished 6.3 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, QTR or XTR?: QTR and XTR both charge 0.25% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

QTR vs ACIO QTR vs HELO QTR vs CCOR QTR vs HEQQ XTR vs CCOR XTR vs HEQQ XTR vs ZHDG XTR vs ATTR

Where to next

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

Sources and dates

QTR and XTR filings on SEC EDGAR ↗

QTR and XTR prospectus with the expense ratio (SEC) ↗

Global X page for QTR ↗

Global X page for XTR ↗

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

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.