GARY vs. QWLD

Last updated Aug 2, 2026

GARY (Mango Growth ETF) and QWLD (SPDR MSCI World StrategicFactors ETF) are both Large Cap Growth Equities funds. GARY is actively managed, while QWLD is passively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. GARY charges 0.77%/yr vs 0.30%/yr for QWLD.

Performance

GARY vs. QWLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mango Growth ETF (GARY) and SPDR MSCI World StrategicFactors ETF (QWLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GARY achieves a 25.69% return, which is significantly higher than QWLD's 9.39% return.

GARY

• 1D: 0.88%
• 1M: -4.25%
• 6M: 15.73%
• YTD: 25.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QWLD

• 1D: 0.22%
• 1M: 1.63%
• 6M: 6.46%
• YTD: 9.39%
• 1Y: 19.11%
• 3Y*: 15.49%
• 5Y*: 10.03%
• 10Y*: 11.57%
• ALL TIME*: 10.49%

*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)
GARY Mango Growth ETF	$600.48K	$395.06K	$299.75K
QWLD SPDR MSCI World StrategicFactors ETF	$231.12K	$297.84K	$1.04M

GARY vs. QWLD - Yearly Performance Comparison

	2026 (YTD)	2025
GARY Mango Growth ETF	25.69%	0.15%
QWLD SPDR MSCI World StrategicFactors ETF	9.39%	0.41%

Correlation

The correlation between GARY and QWLD is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 22, 2025	0.64

Return for Risk

GARY vs. QWLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GARY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QWLD

QWLD Risk / Return Rank: 80
QWLD Sharpe Ratio Rank: 83
QWLD Sortino Ratio Rank: 84
QWLD Omega Ratio Rank: 82
QWLD Calmar Ratio Rank: 70
QWLD Martin Ratio Rank: 81

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.

GARY vs. QWLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mango Growth ETF (GARY) and SPDR MSCI World StrategicFactors ETF (QWLD). 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.

	GARY	QWLD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.93	—
Sortino ratio: Return per unit of downside risk	—	2.75	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	10.67	—

Drawdowns

GARY vs. QWLD - Drawdown Comparison

The maximum GARY drawdown since its inception was -12.67%, smaller than the maximum QWLD drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for GARY and QWLD.

Drawdown Indicators

	GARY	QWLD	Difference
Max Drawdown Largest peak-to-trough decline	-12.67%	-31.89%	+19.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.66%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.89%	—
Current Drawdown Current decline from peak	-8.40%	0.00%	-8.40%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.66%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	GARY	QWLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	9.71%	+12.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.34%	13.51%	+8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.34%	15.12%	+7.22%

GARY vs. QWLD - Expense Ratio Comparison

GARY has a 0.77% expense ratio, which is higher than QWLD's 0.30% expense ratio.

Dividends

GARY vs. QWLD - Dividend Comparison

GARY's dividend yield for the trailing twelve months is around 0.04%, less than QWLD's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GARY Mango Growth ETF	0.04%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QWLD SPDR MSCI World StrategicFactors ETF	1.79%	1.85%	1.74%	1.78%	2.02%	1.77%	1.77%	2.13%	2.33%	2.73%	2.22%	3.42%

Frequently Asked Questions

Can I hold both GARY and QWLD in my portfolio?

GARY and QWLD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GARY or QWLD?

On fees, QWLD is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GARY or QWLD?

QWLD is cheaper with a 0.30% expense ratio, compared with 0.77% for GARY.

Which ETF pays a higher dividend yield, GARY or QWLD?

QWLD has the higher dividend yield at 1.79%, compared with 0.04% for GARY.

What is the main difference between GARY and QWLD?

They also come from different issuers: Mango and State Street. Their fees differ too: 0.77% for GARY and 0.30% for QWLD.