AFLG vs. GQGU

Last updated Jul 16, 2026

AFLG (First Trust Active Factor Large Cap ETF) and GQGU (GQG US Equity ETF) are both Large Cap Growth Equities funds. AFLG is passively managed, while GQGU is actively managed. Over the past year, AFLG returned 21.95% vs 5.18% for GQGU. At a correlation of -0.08, they often move in opposite directions. AFLG charges 0.55%/yr vs 0.49%/yr for GQGU.

Performance

AFLG vs. GQGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Active Factor Large Cap ETF (AFLG) and GQG US Equity ETF (GQGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFLG achieves a 12.41% return, which is significantly higher than GQGU's 5.70% return.

AFLG

• 1D: 0.20%
• 1M: -0.07%
• 6M: 9.77%
• YTD: 12.41%
• 1Y: 21.95%
• 3Y*: 20.53%
• 5Y*: 12.71%
• 10Y*: —

GQGU

• 1D: -0.23%
• 1M: 0.43%
• 6M: 4.64%
• YTD: 5.70%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFLG vs. GQGU - Yearly Performance Comparison

	2026 (YTD)	2025
AFLG First Trust Active Factor Large Cap ETF	12.41%	8.00%
GQGU GQG US Equity ETF	5.70%	-1.12%

Correlation

The correlation between AFLG and GQGU is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	-0.08

Return for Risk

AFLG vs. GQGU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFLG

AFLG Risk / Return Rank: 71
AFLG Sharpe Ratio Rank: 72
AFLG Sortino Ratio Rank: 71
AFLG Omega Ratio Rank: 70
AFLG Calmar Ratio Rank: 67
AFLG Martin Ratio Rank: 77

GQGU

GQGU Risk / Return Rank: 17
GQGU Sharpe Ratio Rank: 18
GQGU Sortino Ratio Rank: 17
GQGU Omega Ratio Rank: 16
GQGU Calmar Ratio Rank: 18
GQGU Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFLG vs. GQGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Large Cap ETF (AFLG) and GQG US Equity ETF (GQGU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AFLG	GQGU	Difference
Sharpe ratio: Return per unit of total volatility	1.86	0.49	+1.37
Sortino ratio: Return per unit of downside risk	2.58	0.77	+1.81
Omega ratio: Gain probability vs. loss probability	1.34	1.09	+0.25
Calmar ratio: Return relative to maximum drawdown	2.69	0.62	+2.07
Martin ratio: Return relative to average drawdown	11.61	1.50	+10.11

AFLG vs. GQGU - Sharpe Ratio Comparison

The current AFLG Sharpe Ratio is 1.86, which is higher than the GQGU Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of AFLG and GQGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AFLG vs. GQGU - Drawdown Comparison

The maximum AFLG drawdown since its inception was -35.84%, which is greater than GQGU's maximum drawdown of -8.41%. Use the drawdown chart below to compare losses from any high point for AFLG and GQGU.

Drawdown Indicators

	AFLG	GQGU	Difference
Max Drawdown Largest peak-to-trough decline	-35.84%	-8.41%	-27.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-8.41%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.48%	—	—
Current Drawdown Current decline from peak	-0.49%	-5.46%	+4.97%
Average Drawdown Average peak-to-trough decline	-5.64%	-2.90%	-2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	3.46%	-1.57%

Volatility

AFLG vs. GQGU - Volatility Comparison

The current volatility for First Trust Active Factor Large Cap ETF (AFLG) is 2.98%, while GQG US Equity ETF (GQGU) has a volatility of 4.50%. This indicates that AFLG experiences smaller price fluctuations and is considered to be less risky than GQGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFLG	GQGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	4.50%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	8.53%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	10.73%	+1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	10.71%	+5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	10.71%	+8.39%

AFLG vs. GQGU - Expense Ratio Comparison

AFLG has a 0.55% expense ratio, which is higher than GQGU's 0.49% expense ratio.

Dividends

AFLG vs. GQGU - Dividend Comparison

AFLG's dividend yield for the trailing twelve months is around 0.71%, less than GQGU's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AFLG First Trust Active Factor Large Cap ETF	0.71%	0.84%	0.53%	1.53%	1.52%	0.93%	1.28%	0.20%
GQGU GQG US Equity ETF	0.96%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AFLG and GQGU in my portfolio?

AFLG and GQGU have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFLG or GQGU?

GQGU has higher volatility (4.50%) compared to AFLG (2.98%). In terms of maximum drawdown, AFLG dropped -35.84% vs GQGU's -8.41%.

Which ETF is better, AFLG or GQGU?

On 1-year performance, AFLG leads with 21.95% vs 5.18% for GQGU. On fees, GQGU is cheaper at 0.49% per year. On volatility, AFLG has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFLG or GQGU?

Over the 1-year period, AFLG has performed better with a 21.95% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFLG or GQGU?

GQGU is cheaper with a 0.49% expense ratio, compared with 0.55% for AFLG.

Which ETF pays a higher dividend yield, AFLG or GQGU?

GQGU has the higher dividend yield at 0.96%, compared with 0.71% for AFLG.

What is the main difference between AFLG and GQGU?

They also come from different issuers: First Trust and GQG Partners. Their fees differ too: 0.55% for AFLG and 0.49% for GQGU.

Which has better risk-adjusted returns?

AFLG currently has the higher Sharpe Ratio (1.86 vs 0.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.