GQGU vs. ILCG

Last updated Aug 2, 2026

GQGU (GQG US Equity ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds. GQGU is actively managed, while ILCG is passively managed. Over the past year, GQGU returned 7.17% vs 14.00% for ILCG. Their -0.29 correlation means they have often moved in opposite directions in the past. GQGU charges 0.49%/yr vs 0.04%/yr for ILCG.

Performance

GQGU vs. ILCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG US Equity ETF (GQGU) and iShares Morningstar Growth ETF (ILCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GQGU achieves a 6.80% return, which is significantly lower than ILCG's 7.63% return.

GQGU

• 1D: 0.85%
• 1M: 1.17%
• 6M: 2.86%
• YTD: 6.80%
• 1Y: 7.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.35%

ILCG

• 1D: 1.01%
• 1M: -2.02%
• 6M: 6.99%
• YTD: 7.63%
• 1Y: 14.00%
• 3Y*: 21.19%
• 5Y*: 11.47%
• 10Y*: 17.08%
• ALL TIME*: 11.52%

*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)
GQGU GQG US Equity ETF	$4.04M	$3.49M	$3.46M
ILCG iShares Morningstar Growth ETF	$5.46M	$7.04M	$9.78M

GQGU vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025
GQGU GQG US Equity ETF	6.80%	-1.12%
ILCG iShares Morningstar Growth ETF	7.63%	7.25%

Correlation

The correlation between GQGU and ILCG is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.30
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	-0.29

Return for Risk

GQGU vs. ILCG — Risk / Return Rank

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

GQGU

GQGU Risk / Return Rank: 26
GQGU Sharpe Ratio Rank: 28
GQGU Sortino Ratio Rank: 27
GQGU Omega Ratio Rank: 25
GQGU Calmar Ratio Rank: 26
GQGU Martin Ratio Rank: 25

ILCG

ILCG Risk / Return Rank: 27
ILCG Sharpe Ratio Rank: 27
ILCG Sortino Ratio Rank: 26
ILCG Omega Ratio Rank: 26
ILCG Calmar Ratio Rank: 25
ILCG Martin Ratio Rank: 28

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.

GQGU vs. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG US Equity ETF (GQGU) and iShares Morningstar Growth ETF (ILCG). 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.

	GQGU	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.64	+0.02
Sortino ratio: Return per unit of downside risk	1.02	0.98	+0.04
Omega ratio: Gain probability vs. loss probability	1.12	1.12	0.00
Calmar ratio: Return relative to maximum drawdown	0.83	0.76	+0.07
Martin ratio: Return relative to average drawdown	1.92	2.42	-0.50

GQGU vs. ILCG - Sharpe Ratio Comparison

The current GQGU Sharpe Ratio is 0.66, which is comparable to the ILCG Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of GQGU and ILCG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GQGU vs. ILCG - Drawdown Comparison

The maximum GQGU drawdown since its inception was -8.41%, smaller than the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for GQGU and ILCG.

Drawdown Indicators

	GQGU	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-8.41%	-52.98%	+44.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-15.65%	+7.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.38%	—
Current Drawdown Current decline from peak	-4.47%	-6.94%	+2.47%
Average Drawdown Average peak-to-trough decline	-3.00%	-8.20%	+5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	4.91%	-1.27%

Volatility

GQGU vs. ILCG - Volatility Comparison

The current volatility for GQG US Equity ETF (GQGU) is 2.85%, while iShares Morningstar Growth ETF (ILCG) has a volatility of 6.14%. This indicates that GQGU experiences smaller price fluctuations and is considered to be less risky than ILCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQGU	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	6.14%	-3.29%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	15.54%	-7.03%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	18.72%	-8.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.58%	22.37%	-11.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.58%	21.70%	-11.12%

GQGU vs. ILCG - Expense Ratio Comparison

GQGU has a 0.49% expense ratio, which is higher than ILCG's 0.04% expense ratio.

Dividends

GQGU vs. ILCG - Dividend Comparison

GQGU's dividend yield for the trailing twelve months is around 0.95%, more than ILCG's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGU GQG US Equity ETF	0.95%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ILCG iShares Morningstar Growth ETF	0.43%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%

Frequently Asked Questions

Can I hold both GQGU and ILCG in my portfolio?

GQGU and ILCG have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQGU or ILCG?

ILCG has higher volatility (6.14%) compared to GQGU (2.85%). In terms of maximum drawdown, GQGU dropped -8.41% vs ILCG's -52.98%.

Which ETF is better, GQGU or ILCG?

On 1-year performance, ILCG leads with 14.00% vs 7.17% for GQGU. On fees, ILCG is cheaper at 0.04% per year. On volatility, GQGU has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQGU or ILCG?

Over the 1-year period, ILCG has performed better with a 14.00% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQGU or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.49% for GQGU.

Which ETF pays a higher dividend yield, GQGU or ILCG?

GQGU has the higher dividend yield at 0.95%, compared with 0.43% for ILCG.

What is the main difference between GQGU and ILCG?

They also come from different issuers: GQG Partners and iShares. Their fees differ too: 0.49% for GQGU and 0.04% for ILCG.

Which has better risk-adjusted returns?

GQGU currently has the higher Sharpe Ratio (0.66 vs 0.64), 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.