QUAL vs TROW: Correlation
Measured on weekly returns over the past three years, iShares MSCI USA Quality Factor ETF (QUAL) and T. Rowe Price (TROW) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QUAL and TROW?
Across a 3-year window, the weekly returns of QUAL and TROW correlate at 0.67, strong. The past 12 months show a weaker link (0.42) than the 3-year average (0.67). Stretching to 5 years gives 0.75, with an annualized covariance of 218.5 %².
Among the 106 assets we track against QUAL, TROW ranks #39 by 3-year correlation. On 12-month performance QUAL holds a 11.6-point edge, +19.7% against +8.1%. The rolling one-year correlation moved between 0.43 and 0.85 over the past three years, a moderate range. Risk is not evenly split, since TROW carries 1.7 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
QUAL vs TROW: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | +19.7% | +8.1% |
| 5-year return | +68.0% | -37.0% |
| Volatility (ann.) | 14.0% | 23.5% |
| Beta vs S&P 500 | 0.93 | 1.10 |
| Max drawdown (3Y) | -18.0% | -34.0% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 0.86% | 4.57% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | Financials |
QUAL is a Large Blend fund from iShares: $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | QUAL | TROW |
|---|---|---|
| 2022 | -20.5% | -42.2% |
| 2023 | +30.9% | +3.4% |
| 2024 | +22.3% | +9.7% |
| 2025 | +12.7% | -4.7% |
| 2026 | +13.5% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TROW represents 0.09% of QUAL's portfolio, so part of any move in QUAL is TROW itself, and the correlation between them is partly mechanical.
Are QUAL and TROW good diversifiers for each other?
Only partially. A correlation of 0.67 means QUAL and TROW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QUAL and TROW?
The QUAL/TROW correlation stands at 0.67 on a 3-year window (1 year: 0.42, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is TROW a good diversifier for QUAL?
Only partially. A correlation of 0.67 means QUAL and TROW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qual-vs-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qual-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QUAL correlations · TROW correlations
