GARP vs. BLCV

Last updated Aug 2, 2026

GARP (iShares MSCI USA Quality GARP ETF) and BLCV (Blackrock Large Cap Value ETF) are both exchange-traded funds - GARP is a Quality Factor fund tracking the MSCI USA Quality GARP Select Index, while BLCV is a Large Cap Value Equities fund actively managed by BlackRock. GARP is passively managed, while BLCV is actively managed. Their 0.55 correlation means they have sometimes moved together and sometimes differently. GARP charges 0.15%/yr vs 0.55%/yr for BLCV.

Performance

GARP vs. BLCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality GARP ETF (GARP) and Blackrock Large Cap Value ETF (BLCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GARP

• 1D: 0.66%
• 1M: -1.22%
• 6M: 14.45%
• YTD: 16.89%
• 1Y: 31.75%
• 3Y*: 28.85%
• 5Y*: 17.48%
• 10Y*: —
• ALL TIME*: 20.07%

BLCV

• 1D: —
• 1M: —
• 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)
GARP iShares MSCI USA Quality GARP ETF	$25.65M	$25.43M	$23.00M

GARP vs. BLCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GARP iShares MSCI USA Quality GARP ETF	16.89%	21.49%	37.42%	22.38%
BLCV Blackrock Large Cap Value ETF	6.47%	19.96%	12.63%	14.56%

Correlation

The correlation between GARP and BLCV is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (All Time) Calculated using the full available price history since May 23, 2023	0.55

The correlation between GARP and BLCV has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.

GARP vs. BLCV - Sectors Allocation Comparison

Sectors	GARP	BLCV
Technology	54.7%	17.8%
Communication Services	11.0%	4.9%
Consumer Cyclical	9.1%	14.0%
Financial Services	7.9%	16.5%
Industrials	6.4%	10.6%
Healthcare	5.4%	14.4%
Energy	3.0%	5.4%
Utilities	1.3%	4.3%
Basic Materials	1.1%	2.3%
Real Estate	0.4%	2.6%
Consumer Defensive	-	6.4%

Return for Risk

GARP vs. BLCV — Risk / Return Rank

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

GARP

GARP Risk / Return Rank: 64
GARP Sharpe Ratio Rank: 66
GARP Sortino Ratio Rank: 62
GARP Omega Ratio Rank: 60
GARP Calmar Ratio Rank: 63
GARP Martin Ratio Rank: 66

BLCV

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.

GARP vs. BLCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and Blackrock Large Cap Value ETF (BLCV). 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.

	GARP	BLCV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.08	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.19	—	—
Martin ratio: Return relative to average drawdown	7.99	—	—

Drawdowns

Drawdown Indicators

	GARP	BLCV	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	—	—
Current Drawdown Current decline from peak	-4.34%	—	—
Average Drawdown Average peak-to-trough decline	-7.27%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	—	—

Volatility

Volatility by Period

	GARP	BLCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.34%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.92%	—	—

GARP vs. BLCV - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than BLCV's 0.55% expense ratio.

Dividends

GARP vs. BLCV - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.27%, while BLCV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
BLCV Blackrock Large Cap Value ETF	1.01%	1.37%	1.63%	1.02%	0.00%	0.00%	0.00%
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%

Frequently Asked Questions

Can I hold both GARP and BLCV in my portfolio?

GARP and BLCV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GARP or BLCV?

On fees, GARP is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GARP or BLCV?

GARP is cheaper with a 0.15% expense ratio, compared with 0.55% for BLCV.

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

BLCV has the higher dividend yield at 1.01%, compared with 0.27% for GARP.

What is the main difference between GARP and BLCV?

GARP is categorized as Quality Factor, while BLCV is Large Cap Value Equities. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.15% for GARP and 0.55% for BLCV.