GARP vs. GSC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI USA Quality GARP ETF (GARP) and Goldman Sachs Small Cap Core Equity ETF (GSC).

GARP and GSC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GARP is a passively managed fund by iShares that tracks the performance of the MSCI USA Quality GARP Select Index. It was launched on Jan 14, 2020. GSC is an actively managed fund by Goldman Sachs. It was launched on Oct 3, 2023.

Performance

GARP vs. GSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality GARP ETF (GARP) and Goldman Sachs Small Cap Core Equity ETF (GSC). The values are adjusted to include any dividend payments, if applicable.

GARP vs. GSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	-6.01%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%
GSC Goldman Sachs Small Cap Core Equity ETF	0.60%	6.29%	13.79%	33.52%	28.40%	58.09%	-28.72%

Returns By Period

In the year-to-date period, GARP achieves a -6.01% return, which is significantly lower than GSC's 0.60% return.

GARP

• 1D: 3.86%
• 1M: -5.81%
• YTD: -6.01%
• 6M: -2.39%
• 1Y: 25.79%
• 3Y*: 25.22%
• 5Y*: 15.18%
• 10Y*: —

GSC

• 1D: 4.03%
• 1M: -6.15%
• YTD: 0.60%
• 6M: 2.68%
• 1Y: 17.46%
• 3Y*: 20.49%
• 5Y*: 28.12%
• 10Y*: 11.14%

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

GARP vs. GSC - Expense Ratio Comparison

GARP has a 0.15% expense ratio, which is lower than GSC's 0.75% expense ratio.

GSC

Goldman Sachs Small Cap Core Equity ETF

GARP

iShares MSCI USA Quality GARP ETF

Return for Risk

GARP vs. GSC — Risk / Return Rank

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

GARP

GARP Risk / Return Rank: 69
GARP Sharpe Ratio Rank: 64
GARP Sortino Ratio Rank: 67
GARP Omega Ratio Rank: 66
GARP Calmar Ratio Rank: 76
GARP Martin Ratio Rank: 72

GSC

GSC Risk / Return Rank: 49
GSC Sharpe Ratio Rank: 13
GSC Sortino Ratio Rank: 97
GSC Omega Ratio Rank: 98
GSC Calmar Ratio Rank: 18
GSC Martin Ratio Rank: 19

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. GSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and Goldman Sachs Small Cap Core Equity ETF (GSC). 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	GSC	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.04	+1.02
Sortino ratio Return per unit of downside risk	1.62	3.79	-2.18
Omega ratio Gain probability vs. loss probability	1.23	1.92	-0.69
Calmar ratio Return relative to maximum drawdown	1.87	0.30	+1.58
Martin ratio Return relative to average drawdown	6.91	1.01	+5.91
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. GSC - Sharpe Ratio Comparison

The current GARP Sharpe Ratio is 1.06, which is higher than the GSC Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of GARP and GSC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GARP	GSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.04	+1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.13	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	-0.01	+0.72

Correlation

The correlation between GARP and GSC is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GARP vs. GSC - Dividend Comparison

GARP's dividend yield for the trailing twelve months is around 0.32%, more than GSC's 0.19% yield.

	TTM	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	0.32%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%
GSC Goldman Sachs Small Cap Core Equity ETF	0.19%	0.16%	0.66%	0.11%	0.00%	0.00%	0.00%

Drawdowns

GARP vs. GSC - Drawdown Comparison

The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum GSC drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for GARP and GSC.

Drawdown Indicators

	GARP	GSC	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-88.63%	+57.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.69%	-58.25%	+44.56%
Max Drawdown (5Y) Largest decline over 5 years	-30.61%	-58.25%	+27.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.06%	—
Current Drawdown Current decline from peak	-10.35%	-40.25%	+29.90%
Average Drawdown Average peak-to-trough decline	-7.53%	-59.52%	+51.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	17.28%	-13.57%

Volatility

GARP vs. GSC - Volatility Comparison

The current volatility for iShares MSCI USA Quality GARP ETF (GARP) is 7.52%, while Goldman Sachs Small Cap Core Equity ETF (GSC) has a volatility of 8.12%. This indicates that GARP experiences smaller price fluctuations and is considered to be less risky than GSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GARP	GSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.52%	8.12%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	14.44%	313.02%	-298.58%
Volatility (1Y) Calculated over the trailing 1-year period	24.39%	410.88%	-386.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	219.28%	-197.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.02%	160.40%	-136.38%