GARP vs. AESR

Last updated Jun 4, 2026

GARP (iShares MSCI USA Quality GARP ETF) and AESR (Anfield U.S. Equity Sector Rotation ETF) are both Large Cap Growth Equities funds. GARP is passively managed, while AESR is actively managed. Over the past 5 years, GARP returned 20.26%/yr vs 15.28%/yr for AESR. Their correlation of 0.88 suggests significant overlap in exposure. GARP charges 0.15%/yr vs 1.46%/yr for AESR.

Performance

GARP vs. AESR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality GARP ETF (GARP) and Anfield U.S. Equity Sector Rotation ETF (AESR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GARP having a 21.29% return and AESR slightly lower at 20.98%.

GARP

• 1D: -0.72%
• 1M: 11.92%
• YTD: 21.29%
• 6M: 21.80%
• 1Y: 43.57%
• 3Y*: 33.60%
• 5Y*: 20.26%
• 10Y*: —

AESR

• 1D: -0.05%
• 1M: 7.94%
• YTD: 20.98%
• 6M: 21.17%
• 1Y: 39.18%
• 3Y*: 26.82%
• 5Y*: 15.28%
• 10Y*: —

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

GARP vs. AESR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	21.29%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%
AESR Anfield U.S. Equity Sector Rotation ETF	20.98%	20.34%	25.37%	21.03%	-17.52%	25.26%	16.67%

Correlation

The correlation between GARP and AESR is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 17, 2020	0.88

The correlation between GARP and AESR has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

GARP vs. AESR - Sectors Allocation Comparison

Sectors	GARP	AESR
Technology	56.7%	33.8%
Communication Services	12.0%	26.0%
Financial Services	7.5%	7.0%
Industrials	6.9%	10.6%
Consumer Cyclical	6.1%	12.8%
Healthcare	5.4%	2.0%
Energy	2.7%	2.1%
Utilities	1.4%	0.3%
Basic Materials	0.9%	2.7%
Real Estate	0.4%	0.3%
Consumer Defensive	-	2.4%

Return for Risk

GARP vs. AESR — Risk / Return Rank

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

GARP

GARP Risk / Return Rank: 68
GARP Sharpe Ratio Rank: 73
GARP Sortino Ratio Rank: 68
GARP Omega Ratio Rank: 67
GARP Calmar Ratio Rank: 63
GARP Martin Ratio Rank: 68

AESR

AESR Risk / Return Rank: 75
AESR Sharpe Ratio Rank: 73
AESR Sortino Ratio Rank: 70
AESR Omega Ratio Rank: 70
AESR Calmar Ratio Rank: 78
AESR Martin Ratio Rank: 83

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.

GARP vs. AESR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and Anfield U.S. Equity Sector Rotation ETF (AESR). 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.

	GARP	AESR	Difference
Sharpe ratio Return per unit of total volatility	2.45	2.40	+0.05
Sortino ratio Return per unit of downside risk	3.18	3.20	-0.02
Omega ratio Gain probability vs. loss probability	1.41	1.42	-0.01
Calmar ratio Return relative to maximum drawdown	3.20	4.01	-0.81
Martin ratio Return relative to average drawdown	12.85	16.87	-4.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GARP vs. AESR - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 2.45, which is comparable to the AESR Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of GARP and AESR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GARP	AESR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	2.40	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.86	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.83	+0.06

Drawdowns

GARP vs. AESR - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, roughly equal to the maximum AESR drawdown of -31.06%. Use the drawdown chart below to compare losses from any high point for GARP and AESR.

Drawdown Indicators

	GARP	AESR	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-31.06%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	-9.82%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	-19.85%	-3.88%
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	-25.04%	-5.57%
Current Drawdown Current decline from peak	-0.73%	-0.05%	-0.68%
Average Drawdown Average peak-to-trough decline	-7.36%	-6.02%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.33%	+1.07%

Volatility

GARP vs. AESR - Volatility Comparison

The current volatility for iShares MSCI USA Quality GARP ETF (GARP) is 5.03%, while Anfield U.S. Equity Sector Rotation ETF (AESR) has a volatility of 5.52%. This indicates that GARP experiences smaller price fluctuations and is considered to be less risky than AESR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GARP	AESR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.52%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	13.89%	12.73%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	17.89%	16.39%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.97%	17.83%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.89%	20.44%	+3.45%

GARP vs. AESR - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than AESR's 1.46% expense ratio.

Dividends

GARP vs. AESR - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.25%, less than AESR's 19.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AESR Anfield U.S. Equity Sector Rotation ETF	19.03%	23.02%	0.17%	0.33%	0.73%	6.59%	1.06%	0.33%
GARP iShares MSCI USA Quality GARP ETF	0.25%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%

Frequently Asked Questions

Can I hold both GARP and AESR in my portfolio?

GARP and AESR have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GARP or AESR?

AESR has higher volatility (5.52%) compared to GARP (5.03%). In terms of maximum drawdown, GARP dropped -31.34% vs AESR's -31.06%.

Which ETF is better, GARP or AESR?

On 5-year performance, GARP leads with 20.26% vs 15.28% for AESR. On fees, GARP is cheaper at 0.15% per year. On volatility, GARP has been the lower-risk option at 5.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GARP or AESR?

Over the 5-year period, GARP has performed better with a 20.26% return vs 15.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GARP or AESR?

GARP is cheaper with a 0.15% expense ratio, compared with 1.46% for AESR.

Which ETF pays a higher dividend yield, GARP or AESR?

AESR has the higher dividend yield at 19.03%, compared with 0.25% for GARP.

What is the main difference between GARP and AESR?

They also come from different issuers: iShares and Regents Park Funds. Their fees differ too: 0.15% for GARP and 1.46% for AESR.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (2.45 vs 2.40), 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.