GARP vs. DGRS

Last updated Aug 2, 2026

GARP (iShares MSCI USA Quality GARP ETF) and DGRS (WisdomTree U.S. SmallCap Quality Dividend Growth Fund) are both Quality Factor funds - GARP tracks the MSCI USA Quality GARP Select Index while DGRS tracks the WisdomTree U.S. SmallCap Quality Dividend Growth Index. Both are passively managed. Over the past 5 years, GARP returned 17.48%/yr vs 8.44%/yr for DGRS. Their 0.56 correlation means they have sometimes moved together and sometimes differently. GARP charges 0.15%/yr vs 0.38%/yr for DGRS.

Performance

GARP vs. DGRS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality GARP ETF (GARP) and WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GARP achieves a 16.89% return, which is significantly lower than DGRS's 21.67% return.

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%

DGRS

• 1D: 0.23%
• 1M: 1.90%
• 6M: 12.89%
• YTD: 21.67%
• 1Y: 31.79%
• 3Y*: 12.75%
• 5Y*: 8.44%
• 10Y*: 9.82%
• ALL TIME*: 9.54%

*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)
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	$2.61M	$2.32M	$1.84M
GARP iShares MSCI USA Quality GARP ETF	$25.65M	$25.43M	$23.00M

GARP vs. DGRS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	16.89%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	21.67%	-0.43%	10.40%	21.16%	-13.11%	23.11%	8.12%

Correlation

The correlation between GARP and DGRS is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020	0.56

The correlation between GARP and DGRS shifts across timeframes, from 0.46 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

GARP vs. DGRS - Sectors Allocation Comparison

Sectors	GARP	DGRS
Technology	54.7%	9.1%
Communication Services	11.0%	2.0%
Consumer Cyclical	9.1%	16.3%
Financial Services	7.9%	25.5%
Industrials	6.4%	19.5%
Healthcare	5.4%	1.2%
Energy	3.0%	10.0%
Utilities	1.3%	0.2%
Basic Materials	1.1%	8.0%
Real Estate	0.4%	1.9%
Consumer Defensive	-	6.5%

Return for Risk

GARP vs. DGRS — 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

DGRS

DGRS Risk / Return Rank: 77
DGRS Sharpe Ratio Rank: 74
DGRS Sortino Ratio Rank: 80
DGRS Omega Ratio Rank: 73
DGRS Calmar Ratio Rank: 82
DGRS Martin Ratio Rank: 76

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. DGRS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS). 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	DGRS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.69	-0.18
Sortino ratio: Return per unit of downside risk	2.08	2.61	-0.53
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.19	2.98	-0.79
Martin ratio: Return relative to average drawdown	7.99	9.53	-1.54

GARP vs. DGRS - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 1.50, which is comparable to the DGRS Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GARP and DGRS, 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

GARP vs. DGRS - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum DGRS drawdown of -44.83%. Use the drawdown chart below to compare losses from any high point for GARP and DGRS.

Drawdown Indicators

	GARP	DGRS	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-44.83%	+13.49%
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	-9.68%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	-27.57%	+3.84%
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	-27.57%	-3.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.83%	—
Current Drawdown Current decline from peak	-4.34%	-1.24%	-3.10%
Average Drawdown Average peak-to-trough decline	-7.27%	-6.66%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	3.03%	+0.72%

Volatility

GARP vs. DGRS - Volatility Comparison

iShares MSCI USA Quality GARP ETF (GARP) has a higher volatility of 5.68% compared to WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) at 3.72%. This indicates that GARP's price experiences larger fluctuations and is considered to be riskier than DGRS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GARP	DGRS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	3.72%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	16.18%	10.52%	+5.66%
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	17.17%	+2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.34%	20.22%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.92%	23.57%	+0.35%

GARP vs. DGRS - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than DGRS's 0.38% expense ratio.

Dividends

GARP vs. DGRS - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.27%, less than DGRS's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund	2.04%	2.68%	2.15%	2.36%	2.88%	2.19%	2.32%	2.39%	2.64%	1.90%	1.82%	2.55%
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GARP and DGRS in my portfolio?

GARP and DGRS have a correlation of 0.46, 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 DGRS?

GARP has higher volatility (5.68%) compared to DGRS (3.72%). In terms of maximum drawdown, GARP dropped -31.34% vs DGRS's -44.83%.

Which ETF is better, GARP or DGRS?

On 5-year performance, GARP leads with 17.48% vs 8.44% for DGRS. On fees, GARP is cheaper at 0.15% per year. On volatility, DGRS has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GARP or DGRS?

Over the 5-year period, GARP has performed better with a 17.48% return vs 8.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GARP or DGRS?

GARP is cheaper with a 0.15% expense ratio, compared with 0.38% for DGRS.

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

DGRS has the higher dividend yield at 2.04%, compared with 0.27% for GARP.

What is the main difference between GARP and DGRS?

GARP tracks MSCI USA Quality GARP Select Index, while DGRS tracks WisdomTree U.S. SmallCap Quality Dividend Growth Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.15% for GARP and 0.38% for DGRS.

Which has better risk-adjusted returns?

DGRS currently has the higher Sharpe Ratio (1.69 vs 1.50), 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.