QUS ETF — Holdings & Analysis

The State Street SPDR MSCI USA StrategicFactors ETF (QUS) is a $1.51 billion fund seeking to track the MSCI USA Factor Mix A-Series Capped Index.

QUS offers a smart beta approach, blending low volatility, quality, and value factors into a single strategy. With an expense ratio of 0.15%, QUS aims to maximize risk-adjusted returns more efficiently than traditional passive or active management strategies by focusing on high-quality and attractively valued firms.

State Street SPDR MSCI USA StrategicFactors ETF (QUS) ETF — Price, Holdings & Analysis

The State Street SPDR MSCI USA StrategicFactors ETF (QUS) is a $1.51 billion fund seeking to track the MSCI USA Factor Mix A-Series Capped Index. QUS offers a smart beta approach, blending low volatility, quality, and value factors into a single strategy. With an expense ratio of 0.15%, QUS aims to maximize risk-adjusted returns more efficiently than traditional passive or active management strategies by focusing on high-quality and attractively valued firms.

ETF Overview

The State Street SPDR MSCI USA StrategicFactors ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI USA Factor Mix A-Series Capped Index (the "Index")Seeks to track a Smart Beta index that blends low volatility, quality and value exposures together in a single strategyThe resulting mix may offer a low-volatility strategy with an equal focus on high-quality and attractively valued firmsMulti-factor smart beta strategies can bridge the gap between active and passive management, providing an opportunity for investors to rethink exposures and potentially maximize risk-adjusted returns more efficiently

QUS aims to provide investment results that correspond to the MSCI USA Factor Mix A-Series Capped Index. This index combines low volatility, quality, and value exposures. The ETF's multi-factor approach seeks to bridge the gap between active and passive management. QUS's top holdings include Apple Inc (2.79%), Microsoft Corp (2.40%), and Meta Platforms Inc Class A (2.26%). Sector allocation is heavily weighted towards Technology (24.1%), Healthcare (15.1%), and Financial Services (14.8%). The fund primarily invests in the United States (95.0%), with smaller allocations to Ireland (1.8%), the United Kingdom (1.1%), Switzerland (1.0%), and Canada (0.5%). This ETF may appeal to investors seeking a diversified U.S. equity portfolio with a focus on factor-based investing.

Risk Metrics

QUS, while diversified across 535 holdings, exhibits concentration risk in its top holdings, with Apple and Microsoft representing over 5% of the portfolio. Sector risk is also present, with a significant allocation to Technology (24.1%), making it vulnerable to fluctuations in that sector. The fund's beta of 0.79 suggests it is less volatile than the overall market. The expense ratio of 0.15% can create a minor drag on performance over time, but it is relatively low. these may be worth researching factors when assessing the suitability of QUS for their portfolio, and remember that past performance does not guarantee future results.

Expense Ratio

0.15%

What does QUS hold?

Holding	Weight
Apple Inc (AAPL)	2.79%
Microsoft Corp (MSFT)	2.40%
Meta Platforms Inc Class A (META)	2.26%
NVIDIA Corp (NVDA)	2.24%
Johnson & Johnson (JNJ)	2.09%
Eli Lilly and Co (LLY)	1.98%
Visa Inc Class A (V)	1.84%
Walmart Inc (WMT)	1.62%
Exxon Mobil Corp (XOM)	1.57%
Merck & Co Inc (MRK)	1.50%

How Is the Fund Allocated?

Sector	Weight
Technology	24.1%
Healthcare	15.1%
Financial Services	14.8%
Communication Services	9.8%
Consumer Defensive	9.6%
Industrials	8.9%
Consumer Cyclical	6.0%
Energy	4.4%
Utilities	3.8%
Basic Materials	2.4%
Real Estate	1.0%

Country	Weight
United States	95.0%
Ireland	1.8%
United Kingdom	1.1%
Switzerland	1.0%
Canada	0.5%
Bermuda	0.3%
Other	0.2%
Uruguay	0.1%
Netherlands	0.0%
Singapore	0.0%

Dividend Yield

1.33%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

State Street Financial Select Sector SPDR ETF (XLF) (Equity) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) (Equity) — 0.16% expense ratio
State Street SPDR S&P 500 ETF (SPY) (Equity) — 0.09% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) (Equity) — 0.08% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) (Equity) — 0.08% expense ratio
State Street SPDR S&P Biotech ETF (XBI) (Equity) — 0.35% expense ratio

Risk Metrics

Beta: 0.79

Questions & Answers

What is QUS and what does it track?

The State Street SPDR MSCI USA StrategicFactors ETF (QUS) is an exchange-traded fund that seeks to replicate the performance of the MSCI USA Factor Mix A-Series Capped Index.

This index is designed to represent a blend of low volatility, quality, and value factors within the U.S. equity market.

What is the expense ratio for QUS?

The expense ratio for QUS is 0.15%. This means that for every $10,000 invested, the fund charges $15 annually to cover its operating expenses. While expense ratios can vary, QUS's 0.15% is relatively competitive, especially considering its smart beta strategy.

This expense ratio can impact overall returns, but it is lower than the 0.44% category average, making it a cost-effective option for factor-based investing.

What are the top holdings in QUS?

The top holdings in QUS include some of the largest and most influential companies in the U.S. equity market. As of 2026-03-15, the top three holdings are Apple Inc (2.79%), Microsoft Corp (2.40%), and Meta Platforms Inc Class A (2.26%).

Other significant holdings include NVIDIA Corp (2.24%) and Johnson & Johnson (2.09%).

Is QUS a good long-term investment?

Whether QUS is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and time horizon.

QUS offers exposure to a blend of factors (low volatility, quality, and value) that may provide downside protection and potentially enhance returns over the long term. The fund's expense ratio of 0.15% is relatively low, which can benefit long-term investors.

How does QUS compare to similar ETFs?

QUS competes with other smart beta ETFs that target similar factors, such as low volatility, quality, and value. Its expense ratio of 0.15% is competitive compared to some other factor-based ETFs.

The fund's AUM of $1.51 billion indicates a reasonable level of investor interest.

Does QUS pay dividends?

Yes, QUS does pay dividends. As of 2026-03-15, the fund has a dividend yield of 1.33%. This means that for every $100 invested in QUS, investors can expect to receive $1.33 in dividend payments annually.

Dividend payments can vary over time and are not guaranteed. The dividend yield is influenced by the underlying holdings of the ETF and their respective dividend policies.