Fidelity Quality Factor ETF (FQAL) Performance
FQAL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +12.2% since Dec 31, 2025
- 1 year
- +14.2% total return
- 5 years
- +11.2% a year
- 10 years
- +14.5% a year
- Since first price
- +14.3% a year since 2016
FQAL trailing returns vs SPY, QQQ, AGG
| Period | FQAL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.3% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.7% | +3.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.7% | +8.1% | +7.8% | +8.4% | −1.5% |
| YTD | +12.2% | +11.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.2% | +12.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +79.3%+21.5%/yr | +72.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +69.9%+11.2%/yr | +59.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +286.9%+14.5%/yr | +233.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionSep 15, 2016 | +284.7%+14.3%/yr | +231.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FQAL vs SPY
From Sep 15, 2016: FQAL grew to $38,466, SPY to $41,546.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FQAL returns by calendar year
7 of 9 full years positive. Best 2021 (+32.1%), worst 2022 (−19.7%). 2026 is year to date.
FQAL annual returns table
| Year | FQAL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +12.2% | −8.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +16.9% | −16.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +21.9% | −7.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +24.2% | −9.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −19.7% | −25.0% | −18.2% | −32.6% | −13.0% |
| 2021 | +32.1% | −5.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +16.2% | −33.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +28.1% | −6.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −4.4% | −18.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +23.0% | −2.8% | +21.7% | +32.7% | +3.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FQAL largest drawdowns
Now 1.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −33.7% | Mar 23, 2020 | Aug 10, 2020 | 33 days | 6 months |
| Dec 29, 2021 | −25.5% | Oct 12, 2022 | Jan 19, 2024 | 9 months | 2.1 years |
| Sep 21, 2018 | −18.6% | Dec 24, 2018 | Apr 12, 2019 | 3 months | 7 months |
| Feb 19, 2025 | −16.9% | Apr 8, 2025 | Jun 26, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FQAL risk statistics
| Statistic | 3 years | 5 years | 10 years |
|---|---|---|---|
| Annualized return | +20.6% | +12.3% | +14.2% |
| Volatility (annualized) | 11.2% | 14.9% | 14.9% |
| Sharpe ratio | 1.35 | 0.62 | 0.82 |
| Sortino ratio | 2.51 | 0.95 | 1.27 |
| Best month | +8.5% | +8.8% | +12.7% |
| Worst month | −5.3% | −9.0% | −12.6% |
| Best 12 months | +36.0% | +36.0% | +50.9% |
| Worst 12 months | +10.3% | −19.7% | −19.7% |
| Positive months | 75% | 67% | 71% |
| Beta vs S&P 500 | 0.88 | 0.94 | 0.96 |
| Correlation with S&P 500 | 0.97 | 0.99 | 0.99 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FQAL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 110 | −19.7% | +15.4% | +50.9% | 88% |
| 3-year (a year) | 86 | +4.8% | +12.6% | +25.3% | 100% |
| 5-year (a year) | 62 | +8.5% | +13.2% | +18.3% | 100% |
| 10-year (a year) | 2 | +14.2% | +14.4% | +14.5% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
FQAL performance overview
Fidelity Quality Factor ETF (FQAL) returned +14.2% over the past year and +14.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2016 it has returned +14.3% a year, turning $10,000 into about $38,466. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.7%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. FQAL finished 7 of its 9 full calendar years with a gain; the best year was 2021 (+32.1%) and the worst 2022 (−19.7%). Volatility has been 14.9% a year.
Related: FQAL chart, FQAL holdings, FQAL dividends, FQAL valuation. See the FQAL overview for the latest quote and fund facts.
FQAL performance FAQ
What is the FQAL return over the past year?
FQAL returned +14.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.8%.
What is the average annual return of FQAL?
FQAL has returned +11.2% a year over 5 years, +14.5% a year over 10 years, +14.3% a year since September 15, 2016 (total return, distributions reinvested).
How much would $10,000 invested in FQAL be worth?
$10,000 invested in FQAL at its first recorded close on September 15, 2016 would be worth about $38,466 on October 23, 2026 with distributions reinvested.
What was the worst year for FQAL?
The worst calendar year was 2022, with a total return of −19.7%. The best was 2021 at +32.1%.
What is the biggest drawdown of FQAL?
The largest peak-to-trough decline was −33.7% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 10, 2020, 5 months after the bottom.
How volatile is FQAL?
Over the past 3 years FQAL had an annualized volatility of 11.2% and a Sharpe ratio of 1.35 (excess return over 1–3 month T-bills per unit of risk).