GGAL vs. IWY

Last updated Jun 4, 2026

GGAL (Grupo Financiero Galicia S.A.) is a stock, while IWY (iShares Russell Top 200 Growth ETF) is Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index. Over the past 10 years, GGAL returned 8.50%/yr vs 19.57%/yr for IWY. At a 0.33 correlation, their price movements are largely independent.

Performance

GGAL vs. IWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grupo Financiero Galicia S.A. (GGAL) and iShares Russell Top 200 Growth ETF (IWY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGAL achieves a -7.77% return, which is significantly lower than IWY's 7.20% return. Over the past 10 years, GGAL has underperformed IWY with an annualized return of 8.50%, while IWY has yielded a comparatively higher 19.57% annualized return.

GGAL

• 1D: -3.97%
• 1M: 21.40%
• YTD: -7.77%
• 6M: -5.81%
• 1Y: -10.40%
• 3Y*: 68.91%
• 5Y*: 44.57%
• 10Y*: 8.50%

IWY

• 1D: -1.41%
• 1M: 5.83%
• YTD: 7.20%
• 6M: 6.65%
• 1Y: 26.69%
• 3Y*: 25.47%
• 5Y*: 16.45%
• 10Y*: 19.57%

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

GGAL vs. IWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGAL Grupo Financiero Galicia S.A.	-7.77%	-11.36%	289.05%	92.28%	8.05%	8.88%	-45.53%	-40.38%	-57.85%	145.24%
IWY iShares Russell Top 200 Growth ETF	7.20%	18.19%	34.89%	46.49%	-29.91%	31.05%	39.01%	36.20%	-0.72%	31.69%

Correlation

The correlation between GGAL and IWY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Sep 29, 2009	0.33

Return for Risk

GGAL vs. IWY — Risk / Return Rank

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

GGAL

GGAL Risk / Return Rank: 36
GGAL Sharpe Ratio Rank: 35
GGAL Sortino Ratio Rank: 39
GGAL Omega Ratio Rank: 38
GGAL Calmar Ratio Rank: 34
GGAL Martin Ratio Rank: 33

IWY

IWY Risk / Return Rank: 41
IWY Sharpe Ratio Rank: 49
IWY Sortino Ratio Rank: 46
IWY Omega Ratio Rank: 46
IWY Calmar Ratio Rank: 32
IWY Martin Ratio Rank: 34

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.

GGAL vs. IWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grupo Financiero Galicia S.A. (GGAL) and iShares Russell Top 200 Growth ETF (IWY). 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.

	GGAL	IWY	Difference
Sharpe ratio Return per unit of total volatility	-0.14	1.73	-1.87
Sortino ratio Return per unit of downside risk	0.36	2.36	-2.00
Omega ratio Gain probability vs. loss probability	1.04	1.30	-0.26
Calmar ratio Return relative to maximum drawdown	-0.20	1.61	-1.81
Martin ratio Return relative to average drawdown	-0.42	5.26	-5.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGAL vs. IWY - Sharpe Ratio Comparison

The current GGAL Sharpe Ratio is -0.14, which is lower than the IWY Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of GGAL and IWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GGAL	IWY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	1.73	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.77	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.94	-0.80
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.92	-0.85

Drawdowns

GGAL vs. IWY - Drawdown Comparison

The maximum GGAL drawdown since its inception was -98.98%, which is greater than IWY's maximum drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for GGAL and IWY.

Drawdown Indicators

	GGAL	IWY	Difference
Max Drawdown Largest peak-to-trough decline	-98.98%	-32.68%	-66.30%
Max Drawdown (1Y) Largest decline over 1 year	-53.54%	-16.63%	-36.91%
Max Drawdown (3Y) Largest decline over 3 years	-62.94%	-23.22%	-39.72%
Max Drawdown (5Y) Largest decline over 5 years	-62.94%	-32.68%	-30.26%
Max Drawdown (10Y) Largest decline over 10 years	-91.70%	-32.68%	-59.02%
Current Drawdown Current decline from peak	-29.45%	-1.82%	-27.63%
Average Drawdown Average peak-to-trough decline	-57.41%	-4.75%	-52.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.60%	5.09%	+19.51%

Volatility

GGAL vs. IWY - Volatility Comparison

Grupo Financiero Galicia S.A. (GGAL) has a higher volatility of 16.53% compared to iShares Russell Top 200 Growth ETF (IWY) at 3.69%. This indicates that GGAL's price experiences larger fluctuations and is considered to be riskier than IWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGAL	IWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	3.69%	+12.84%
Volatility (6M) Calculated over the trailing 6-month period	35.75%	11.65%	+24.10%
Volatility (1Y) Calculated over the trailing 1-year period	74.54%	15.54%	+59.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.49%	21.48%	+37.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.90%	20.97%	+40.93%

Dividends

GGAL vs. IWY - Dividend Comparison

GGAL's dividend yield for the trailing twelve months is around 4.38%, more than IWY's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGAL Grupo Financiero Galicia S.A.	4.38%	2.11%	3.81%	6.49%	4.62%	0.23%	0.94%	1.89%	1.29%	0.16%	0.13%	0.09%
IWY iShares Russell Top 200 Growth ETF	0.33%	0.36%	0.42%	0.68%	0.88%	0.50%	0.71%	1.06%	1.32%	1.26%	1.51%	1.58%

Frequently Asked Questions

Can I hold both GGAL and IWY in my portfolio?

GGAL and IWY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGAL or IWY?

GGAL has higher volatility (16.53%) compared to IWY (3.69%). In terms of maximum drawdown, GGAL dropped -98.98% vs IWY's -32.68%.

Which has better risk-adjusted returns?

IWY currently has the higher Sharpe Ratio (1.73 vs -0.14), 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.