FQAL vs TLTP
Fidelity Quality Factor ETF vs Amplify TLT US Treasury 12% Option Income ETF
Quick Verdict
FQAL has a lower expense ratio. FQAL delivered stronger 1-year returns. FQAL offers more diversification with 130 holdings.
Side-by-Side Comparison
| Metric | FQAL | TLTP | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.39% | |
| AUM | $1.4B | $25M | |
| Dividend Yield | 1.15% | 15.05% | |
| Holdings | 130 | 5 | |
| YTD Return | +12.56% | -8.91% | |
| 1Y Return | +19.37% | -6.89% | |
| 3Y Return (annualized) | +20.54% | - | |
| 5Y Return (annualized) | +11.62% | - | |
| Volatility (annualized) | 15.0% | 8.7% | |
| Max Drawdown | -34.1% | -13.3% | |
| Fund Family | Fidelity Investments (US) | Amplify ETFs | |
| Category | Equity | Alternative | |
| Inception | Sep 12, 2016 | Oct 29, 2024 |
FQAL vs TLTP Performance
Fidelity Quality Factor ETF (FQAL) is a ETF from Fidelity Investments (US) and Amplify TLT US Treasury 12% Option Income ETF (TLTP) is a ETF from Amplify ETFs. Over the past year FQAL returned +19.37% while TLTP returned -6.89%. Year to date, FQAL is up 12.56% versus a loss of 8.91% for TLTP.
Risk: Volatility and Drawdowns
FQAL has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 8.7% for TLTP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.1% for FQAL and -13.3% for TLTP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FQAL charges 0.15% per year while TLTP charges 0.39%. On a $10,000 position that is $15 vs $39 annually, a gap of $24 per year that compounds over a long holding period. On income, FQAL currently yields 1.15% against 15.05% for TLTP.
Holdings Overlap
FQAL and TLTP share 0 holdings out of 128 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FQAL or TLTP?
FQAL has an expense ratio of 0.15% while TLTP charges 0.39%. FQAL is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, FQAL or TLTP?
Over the past year FQAL returned +19.37% vs -6.89% for TLTP, so FQAL leads on 1-year performance. Over the longest common window we track (2 years), FQAL annualized +13.76% vs -5.03% for TLTP. Past performance does not guarantee future results.
Which is riskier, FQAL or TLTP?
FQAL has been the more volatile fund at 15.0% annualized versus 8.7% for TLTP. Worst drawdown: FQAL -34.1% vs TLTP -13.3%.
Should I hold both FQAL and TLTP?
FQAL and TLTP have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FQAL and TLTP?
FQAL and TLTP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 128 unique securities.
Which pays a higher dividend, FQAL or TLTP?
FQAL yields 1.15% while TLTP yields 15.05%, so TLTP currently pays the higher dividend yield.
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