GARP vs. QBTS
GARP (iShares MSCI USA Quality GARP ETF) is Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index, while QBTS (D-Wave Quantum Inc) is a stock. Over the past 3 years, GARP returned 31.05%/yr vs 123.62%/yr for QBTS. At a 0.34 correlation, their price movements are largely independent.
Performance
GARP vs. QBTS - Performance Comparison
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Returns By Period
In the year-to-date period, GARP achieves a 16.96% return, which is significantly higher than QBTS's -10.63% return.
GARP
- 1D
- 0.21%
- 1M
- 2.98%
- YTD
- 16.96%
- 6M
- 17.70%
- 1Y
- 36.11%
- 3Y*
- 31.05%
- 5Y*
- 18.96%
- 10Y*
- —
QBTS
- 1D
- -1.89%
- 1M
- 9.00%
- YTD
- -10.63%
- 6M
- -10.46%
- 1Y
- 47.17%
- 3Y*
- 123.62%
- 5Y*
- —
- 10Y*
- —
GARP vs. QBTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 16.96% | 21.49% | 37.42% | 42.86% | -12.16% |
QBTS D-Wave Quantum Inc | -10.63% | 211.31% | 854.44% | -38.88% | -83.96% |
Correlation
The correlation between GARP and QBTS is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022 | 0.34 |
The correlation between GARP and QBTS shifts across timeframes, from 0.34 (all time) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GARP vs. QBTS — Risk / Return Rank
GARP
QBTS
GARP vs. QBTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and D-Wave Quantum Inc (QBTS). 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 | QBTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.16 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 0.67 | +1.98 |
| Martin ratioReturn relative to average drawdown | 10.37 | 1.16 | +9.20 |
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Drawdowns
GARP vs. QBTS - Drawdown Comparison
The maximum GARP drawdown since its inception was -31.34%, smaller than the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for GARP and QBTS.
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Drawdown Indicators
| GARP | QBTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -96.67% | +65.33% |
Max Drawdown (1Y)Largest decline over 1 year | -13.69% | -71.01% | +57.32% |
Max Drawdown (3Y)Largest decline over 3 years | -23.73% | -79.17% | +55.44% |
Max Drawdown (5Y)Largest decline over 5 years | -30.61% | — | — |
Current DrawdownCurrent decline from peak | -4.27% | -47.81% | +43.54% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -65.66% | +58.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 40.64% | -37.15% |
Volatility
GARP vs. QBTS - Volatility Comparison
The current volatility for iShares MSCI USA Quality GARP ETF (GARP) is 7.61%, while D-Wave Quantum Inc (QBTS) has a volatility of 42.66%. This indicates that GARP experiences smaller price fluctuations and is considered to be less risky than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GARP | QBTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.61% | 42.66% | -35.05% |
Volatility (6M)Calculated over the trailing 6-month period | 15.12% | 76.89% | -61.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.79% | 108.46% | -89.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.11% | 150.99% | -128.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.95% | 150.99% | -127.04% |
Dividends
GARP vs. QBTS - Dividend Comparison
GARP's dividend yield for the trailing twelve months is around 0.26%, while QBTS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 0.26% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% |
QBTS D-Wave Quantum Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GARP and QBTS have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QBTS has higher volatility (42.66%) compared to GARP (7.61%). In terms of maximum drawdown, GARP dropped -31.34% vs QBTS's -96.67%.
GARP currently has the higher Sharpe Ratio (1.93 vs 0.44), 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.
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