CGRO vs. USMD

Last updated Aug 5, 2026

CGRO (CoreValues Alpha Greater China Growth ETF) and USMD (CoreValues America First Technology ETF) are both exchange-traded funds - CGRO is a China Equities fund actively managed by CoreValues, while USMD is a Technology Equities fund actively managed by CoreValues. Both are actively managed. Their 0.49 correlation means their historical movements had little consistent relationship. CGRO charges 0.75%/yr vs 0.87%/yr for USMD.

Performance

CGRO vs. USMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CoreValues Alpha Greater China Growth ETF (CGRO) and CoreValues America First Technology ETF (USMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CGRO

• 1D: 0.75%
• 1M: 12.95%
• 6M: -10.76%
• YTD: -12.97%
• 1Y: -12.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.45%

USMD

• 1D: 4.53%
• 1M: 2.48%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CGRO CoreValues Alpha Greater China Growth ETF	$6.01K	$9.52K	$35.25K
USMD CoreValues America First Technology ETF	$990.75	$1.45K	$638.40

CGRO vs. USMD - Yearly Performance Comparison

	2026 (YTD)
CGRO CoreValues Alpha Greater China Growth ETF	-9.82%
USMD CoreValues America First Technology ETF	26.12%

Correlation

The correlation between CGRO and USMD is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 6, 2026	0.49

Return for Risk

CGRO vs. USMD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CGRO

CGRO Risk / Return Rank: 5
CGRO Sharpe Ratio Rank: 5
CGRO Sortino Ratio Rank: 5
CGRO Omega Ratio Rank: 5
CGRO Calmar Ratio Rank: 6
CGRO Martin Ratio Rank: 6

USMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CGRO vs. USMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoreValues Alpha Greater China Growth ETF (CGRO) and CoreValues America First Technology ETF (USMD). 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.

	CGRO	USMD	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	—	—
Sortino ratio: Return per unit of downside risk	-0.63	—	—
Omega ratio: Gain probability vs. loss probability	0.93	—	—
Calmar ratio: Return relative to maximum drawdown	-0.34	—	—
Martin ratio: Return relative to average drawdown	-0.63	—	—

Drawdowns

CGRO vs. USMD - Drawdown Comparison

The maximum CGRO drawdown since its inception was -36.53%, which is greater than USMD's maximum drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for CGRO and USMD.

Drawdown Indicators

	CGRO	USMD	Difference
Max Drawdown Largest peak-to-trough decline	-36.53%	-16.64%	-19.89%
Max Drawdown (1Y) Largest decline over 1 year	-36.53%	—	—
Current Drawdown Current decline from peak	-25.62%	-5.38%	-20.24%
Average Drawdown Average peak-to-trough decline	-11.47%	-4.10%	-7.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.35%	—	—

Volatility

Volatility by Period

	CGRO	USMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.09%	27.69%	-4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.67%	27.69%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.67%	27.69%	+0.98%

CGRO vs. USMD - Expense Ratio Comparison

CGRO has a 0.75% expense ratio, which is lower than USMD's 0.87% expense ratio.

Dividends

CGRO vs. USMD - Dividend Comparison

CGRO's dividend yield for the trailing twelve months is around 3.22%, while USMD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CGRO CoreValues Alpha Greater China Growth ETF	3.22%	2.48%	2.47%	0.21%
USMD CoreValues America First Technology ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGRO and USMD in my portfolio?

CGRO and USMD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGRO or USMD?

On fees, CGRO is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGRO or USMD?

CGRO is cheaper with a 0.75% expense ratio, compared with 0.87% for USMD.

Which ETF pays a higher dividend yield, CGRO or USMD?

CGRO has the higher dividend yield at 3.22%, compared with 0.00% for USMD.

What is the main difference between CGRO and USMD?

CGRO is categorized as China Equities, while USMD is Technology Equities. Their fees differ too: 0.75% for CGRO and 0.87% for USMD.