EUSA vs. GRPM

Last updated Jun 26, 2026

EUSA (iShares MSCI USA Equal Weighted ETF) and GRPM (Invesco S&P MidCap 400® GARP ETF) are both Mid Cap Blend Equities funds - EUSA tracks the MSCI USA Equal Weighted Index while GRPM tracks the S&P MidCap 400® GARP Index. Both are passively managed. Over the past 10 years, EUSA returned 12.28%/yr vs 11.62%/yr for GRPM. Their correlation of 0.84 suggests significant overlap in exposure. EUSA charges 0.09%/yr vs 0.35%/yr for GRPM.

Performance

EUSA vs. GRPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Equal Weighted ETF (EUSA) and Invesco S&P MidCap 400® GARP ETF (GRPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUSA achieves a 10.06% return, which is significantly higher than GRPM's 6.42% return. Over the past 10 years, EUSA has outperformed GRPM with an annualized return of 12.28%, while GRPM has yielded a comparatively lower 11.62% annualized return.

EUSA

• 1D: 0.43%
• 1M: 1.53%
• YTD: 10.06%
• 6M: 8.62%
• 1Y: 17.88%
• 3Y*: 15.73%
• 5Y*: 7.65%
• 10Y*: 12.28%

GRPM

• 1D: -0.27%
• 1M: -0.27%
• YTD: 6.42%
• 6M: 4.66%
• 1Y: 20.06%
• 3Y*: 14.24%
• 5Y*: 7.63%
• 10Y*: 11.62%

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

EUSA vs. GRPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EUSA iShares MSCI USA Equal Weighted ETF	10.06%	10.24%	14.64%	17.72%	-17.13%	25.60%	15.03%	30.56%	-8.58%	19.02%
GRPM Invesco S&P MidCap 400® GARP ETF	6.42%	7.81%	15.67%	18.79%	-11.63%	26.35%	15.60%	23.05%	-12.45%	13.05%

Correlation

The correlation between EUSA and GRPM is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010	0.84

The correlation between EUSA and GRPM has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

EUSA vs. GRPM - Sectors Allocation Comparison

Sectors	EUSA	GRPM
Technology	20.3%	16.9%
Industrials	15.3%	10.8%
Financial Services	14.7%	29.7%
Consumer Cyclical	11.1%	11.3%
Healthcare	10.8%	12.2%
Utilities	5.4%	-
Consumer Defensive	5.3%	5.7%
Real Estate	5.2%	-
Basic Materials	4.3%	-
Communication Services	4.0%	-
Energy	3.8%	13.4%

Return for Risk

EUSA vs. GRPM — Risk / Return Rank

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

EUSA

EUSA Risk / Return Rank: 51
EUSA Sharpe Ratio Rank: 50
EUSA Sortino Ratio Rank: 50
EUSA Omega Ratio Rank: 46
EUSA Calmar Ratio Rank: 54
EUSA Martin Ratio Rank: 59

GRPM

GRPM Risk / Return Rank: 46
GRPM Sharpe Ratio Rank: 39
GRPM Sortino Ratio Rank: 40
GRPM Omega Ratio Rank: 36
GRPM Calmar Ratio Rank: 62
GRPM Martin Ratio Rank: 51

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.

EUSA vs. GRPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Equal Weighted ETF (EUSA) and Invesco S&P MidCap 400® GARP ETF (GRPM). 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.

	EUSA	GRPM	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.25	+0.24
Sortino ratio: Return per unit of downside risk	2.16	1.87	+0.29
Omega ratio: Gain probability vs. loss probability	1.26	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	2.30	2.64	-0.35
Martin ratio: Return relative to average drawdown	9.03	7.72	+1.30

EUSA vs. GRPM - Sharpe Ratio Comparison

The current EUSA Sharpe Ratio is 1.49, which is comparable to the GRPM Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of EUSA and GRPM, 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

EUSA vs. GRPM - Drawdown Comparison

The maximum EUSA drawdown since its inception was -39.16%, smaller than the maximum GRPM drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for EUSA and GRPM.

Drawdown Indicators

	EUSA	GRPM	Difference
Max Drawdown Largest peak-to-trough decline	-39.16%	-43.12%	+3.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.82%	-7.62%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.20%	-28.09%	+9.89%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-28.09%	+2.85%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	-43.12%	+3.96%
Current Drawdown Current decline from peak	-0.62%	-2.23%	+1.61%
Average Drawdown Average peak-to-trough decline	-4.58%	-5.69%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.60%	-0.61%

Volatility

EUSA vs. GRPM - Volatility Comparison

iShares MSCI USA Equal Weighted ETF (EUSA) and Invesco S&P MidCap 400® GARP ETF (GRPM) have volatilities of 3.67% and 3.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUSA	GRPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	3.63%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	10.35%	-1.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	16.11%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	20.87%	-3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.32%	22.21%	-3.89%

EUSA vs. GRPM - Expense Ratio Comparison

EUSA has a 0.09% expense ratio, which is lower than GRPM's 0.35% expense ratio.

Dividends

EUSA vs. GRPM - Dividend Comparison

EUSA's dividend yield for the trailing twelve months is around 1.47%, more than GRPM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSA iShares MSCI USA Equal Weighted ETF	1.47%	1.63%	1.47%	1.53%	1.73%	1.23%	1.45%	1.49%	2.01%	1.50%	1.59%	2.21%
GRPM Invesco S&P MidCap 400® GARP ETF	0.75%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%

Frequently Asked Questions

Can I hold both EUSA and GRPM in my portfolio?

EUSA and GRPM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUSA or GRPM?

EUSA has higher volatility (3.67%) compared to GRPM (3.63%). In terms of maximum drawdown, EUSA dropped -39.16% vs GRPM's -43.12%.

Which ETF is better, EUSA or GRPM?

On 10-year performance, EUSA leads with 12.28% vs 11.62% for GRPM. On fees, EUSA is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUSA or GRPM?

Over the 10-year period, EUSA has performed better with a 12.28% return vs 11.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUSA or GRPM?

EUSA is cheaper with a 0.09% expense ratio, compared with 0.35% for GRPM.

Which ETF pays a higher dividend yield, EUSA or GRPM?

EUSA has the higher dividend yield at 1.47%, compared with 0.75% for GRPM.

What is the main difference between EUSA and GRPM?

EUSA tracks MSCI USA Equal Weighted Index, while GRPM tracks S&P MidCap 400® GARP Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for EUSA and 0.35% for GRPM.

Which has better risk-adjusted returns?

EUSA currently has the higher Sharpe Ratio (1.49 vs 1.25), 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.