GARP vs. ROE
GARP (iShares MSCI USA Quality GARP ETF) and ROE (Astoria US Equal Weight Quality Kings ETF) are both Quality Factor funds. GARP is passively managed, while ROE is actively managed. Over the past 3 years, GARP returned 28.85%/yr vs 20.30%/yr for ROE. Their correlation of 0.83 means they have usually moved in the same direction. GARP charges 0.15%/yr vs 0.49%/yr for ROE.
Performance
GARP vs. ROE - Performance Comparison
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Returns By Period
In the year-to-date period, GARP achieves a 16.89% return, which is significantly lower than ROE's 20.35% 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%
ROE
- 1D
- 0.50%
- 1M
- 0.63%
- 6M
- 16.21%
- YTD
- 20.35%
- 1Y
- 33.36%
- 3Y*
- 20.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.65M | $25.43M | $23.00M | |
| $1.20M | $1.18M | $910.23K |
GARP vs. ROE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 16.89% | 21.49% | 37.42% | 9.66% |
ROE Astoria US Equal Weight Quality Kings ETF | 20.35% | 17.20% | 18.34% | 4.31% |
Correlation
The correlation between GARP and ROE is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023 | 0.83 |
The correlation between GARP and ROE has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
GARP vs. ROE - Sectors Allocation Comparison
Sectors
GARP
ROE
Technology
Communication Services
Consumer Cyclical
Financial Services
Industrials
Healthcare
Energy
Utilities
Basic Materials
Real Estate
Consumer Defensive
-
Technology
GARP
ROE
Communication Services
GARP
ROE
Consumer Cyclical
GARP
ROE
Financial Services
GARP
ROE
Industrials
GARP
ROE
Healthcare
GARP
ROE
Energy
GARP
ROE
Utilities
GARP
ROE
Basic Materials
GARP
ROE
Real Estate
GARP
ROE
Consumer Defensive
GARP
-
ROE
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Return for Risk
GARP vs. ROE — Risk / Return Rank
GARP
ROE
GARP vs. ROE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality GARP ETF (GARP) and Astoria US Equal Weight Quality Kings ETF (ROE). 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 | ROE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 3.72 | -1.52 |
| Martin ratioReturn relative to average drawdown | 7.99 | 15.82 | -7.83 |
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Drawdowns
GARP vs. ROE - Drawdown Comparison
The maximum GARP drawdown since its inception was -31.34%, which is greater than ROE's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for GARP and ROE.
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Drawdown Indicators
| GARP | ROE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -19.10% | -12.24% |
Max Drawdown (1Y)Largest decline over 1 year | -13.69% | -8.66% | -5.03% |
Max Drawdown (3Y)Largest decline over 3 years | -23.73% | -19.10% | -4.63% |
Max Drawdown (5Y)Largest decline over 5 years | -30.61% | — | — |
Current DrawdownCurrent decline from peak | -4.34% | -1.30% | -3.04% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -2.54% | -4.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.75% | 2.03% | +1.72% |
Volatility
GARP vs. ROE - Volatility Comparison
iShares MSCI USA Quality GARP ETF (GARP) has a higher volatility of 5.68% compared to Astoria US Equal Weight Quality Kings ETF (ROE) at 3.59%. This indicates that GARP's price experiences larger fluctuations and is considered to be riskier than ROE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GARP | ROE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 3.59% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.18% | 11.81% | +4.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 15.07% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.34% | 15.87% | +6.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.92% | 15.87% | +8.05% |
GARP vs. ROE - Expense Ratio Comparison
GARP has a 0.15% expense ratio, which is lower than ROE's 0.49% expense ratio.
Dividends
GARP vs. ROE - Dividend Comparison
GARP's dividend yield for the trailing twelve months is around 0.27%, less than ROE's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GARP iShares MSCI USA Quality GARP ETF | 0.27% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% |
ROE Astoria US Equal Weight Quality Kings ETF | 1.01% | 0.97% | 1.18% | 0.68% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GARP and ROE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GARP has higher volatility (5.68%) compared to ROE (3.59%). In terms of maximum drawdown, GARP dropped -31.34% vs ROE's -19.10%.
On 3-year performance, GARP leads with 28.85% vs 20.30% for ROE. On fees, GARP is cheaper at 0.15% per year. On volatility, ROE has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GARP has performed better with a 28.85% return vs 20.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GARP is cheaper with a 0.15% expense ratio, compared with 0.49% for ROE.
ROE has the higher dividend yield at 1.01%, compared with 0.27% for GARP.
They also come from different issuers: iShares and Astoria. Their fees differ too: 0.15% for GARP and 0.49% for ROE.
ROE currently has the higher Sharpe Ratio (2.14 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.
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