GARP vs. DYNF

Last updated Jun 14, 2026

GARP (iShares MSCI USA Quality GARP ETF) and DYNF (iShares U.S. Equity Factor Rotation Active ETF) are both exchange-traded funds - GARP is a Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index, while DYNF is a Large Cap Blend Equities fund actively managed by iShares. GARP is passively managed, while DYNF is actively managed. Over the past 5 years, GARP returned 18.96%/yr vs 14.62%/yr for DYNF. Their correlation of 0.88 suggests significant overlap in exposure. GARP charges 0.15%/yr vs 0.26%/yr for DYNF.

Performance

GARP vs. DYNF - Performance Comparison

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

Returns By Period

In the year-to-date period, GARP achieves a 16.96% return, which is significantly higher than DYNF's 9.88% return.

GARP

• 1D: 0.21%
• 1M: 3.69%
• YTD: 16.96%
• 6M: 17.70%
• 1Y: 38.39%
• 3Y*: 31.05%
• 5Y*: 18.96%
• 10Y*: —

DYNF

• 1D: 0.57%
• 1M: 0.54%
• YTD: 9.88%
• 6M: 10.36%
• 1Y: 28.69%
• 3Y*: 24.87%
• 5Y*: 14.62%
• 10Y*: —

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

GARP vs. DYNF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	16.96%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%
DYNF iShares U.S. Equity Factor Rotation Active ETF	9.88%	20.00%	30.29%	36.25%	-20.27%	22.12%	11.85%

Correlation

The correlation between GARP and DYNF is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020	0.88

The correlation between GARP and DYNF has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

GARP vs. DYNF - Sectors Allocation Comparison

Sectors	GARP	DYNF
Technology	55.2%	40.1%
Communication Services	11.9%	10.7%
Consumer Cyclical	8.5%	7.1%
Financial Services	7.2%	14.9%
Industrials	6.6%	8.4%
Healthcare	5.3%	6.1%
Energy	2.9%	5.0%
Utilities	1.2%	2.8%
Basic Materials	1.1%	0.8%
Real Estate	0.4%	2.0%
Consumer Defensive	-	1.7%

Return for Risk

GARP vs. DYNF — Risk / Return Rank

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

GARP

GARP Risk / Return Rank: 64
GARP Sharpe Ratio Rank: 69
GARP Sortino Ratio Rank: 63
GARP Omega Ratio Rank: 63
GARP Calmar Ratio Rank: 61
GARP Martin Ratio Rank: 65

DYNF

DYNF Risk / Return Rank: 76
DYNF Sharpe Ratio Rank: 76
DYNF Sortino Ratio Rank: 73
DYNF Omega Ratio Rank: 74
DYNF Calmar Ratio Rank: 71
DYNF Martin Ratio Rank: 84

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. DYNF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and iShares U.S. Equity Factor Rotation Active ETF (DYNF). 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	DYNF	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.10	-0.17
Sortino ratio: Return per unit of downside risk	2.53	2.82	-0.29
Omega ratio: Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio: Return relative to maximum drawdown	2.65	3.15	-0.50
Martin ratio: Return relative to average drawdown	10.37	14.77	-4.40

GARP vs. DYNF - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 1.93, which is comparable to the DYNF Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of GARP and DYNF, 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. DYNF - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum DYNF drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for GARP and DYNF.

Drawdown Indicators

	GARP	DYNF	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-34.72%	+3.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	-8.67%	-5.02%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	-18.70%	-5.03%
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	-28.65%	-1.96%
Current Drawdown Current decline from peak	-4.27%	-2.06%	-2.21%
Average Drawdown Average peak-to-trough decline	-7.35%	-5.96%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	1.85%	+1.64%

Volatility

GARP vs. DYNF - Volatility Comparison

iShares MSCI USA Quality GARP ETF (GARP) has a higher volatility of 7.61% compared to iShares U.S. Equity Factor Rotation Active ETF (DYNF) at 4.91%. This indicates that GARP's price experiences larger fluctuations and is considered to be riskier than DYNF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GARP	DYNF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	4.91%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	10.37%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.79%	13.01%	+5.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.11%	17.58%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.95%	19.91%	+4.04%

GARP vs. DYNF - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than DYNF's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GARP vs. DYNF - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.26%, less than DYNF's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DYNF iShares U.S. Equity Factor Rotation Active ETF	0.90%	1.01%	0.65%	1.11%	1.66%	2.89%	1.52%	1.22%
GARP iShares MSCI USA Quality GARP ETF	0.26%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%

Frequently Asked Questions

Can I hold both GARP and DYNF in my portfolio?

With a correlation of 0.92, GARP and DYNF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GARP or DYNF?

GARP has higher volatility (7.61%) compared to DYNF (4.91%). In terms of maximum drawdown, GARP dropped -31.34% vs DYNF's -34.72%.

Which ETF is better, GARP or DYNF?

On 5-year performance, GARP leads with 18.96% vs 14.62% for DYNF. On fees, GARP is cheaper at 0.15% per year. On volatility, DYNF has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GARP or DYNF?

Over the 5-year period, GARP has performed better with a 18.96% return vs 14.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GARP or DYNF?

GARP is cheaper with a 0.15% expense ratio, compared with 0.26% for DYNF.

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

DYNF has the higher dividend yield at 0.90%, compared with 0.26% for GARP.

What is the main difference between GARP and DYNF?

GARP is categorized as Large Cap Growth Equities, while DYNF is Large Cap Blend Equities. Their fees differ too: 0.15% for GARP and 0.26% for DYNF.

Which has better risk-adjusted returns?

DYNF currently has the higher Sharpe Ratio (2.10 vs 1.93), 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.