GQI vs. GARP

Last updated Aug 6, 2026

GQI (Natixis Gateway Quality Income ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both Quality Factor funds. GQI is actively managed, while GARP is passively managed. Over the past year, GQI returned 22.52% vs 36.44% for GARP. Their correlation of 0.88 means they have usually moved in the same direction. GQI charges 0.34%/yr vs 0.15%/yr for GARP.

Performance

GQI vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Natixis Gateway Quality Income ETF (GQI) and iShares MSCI USA Quality GARP ETF (GARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GQI achieves a 11.57% return, which is significantly lower than GARP's 22.03% return.

GQI

• 1D: -0.37%
• 1M: 2.57%
• 6M: 10.36%
• YTD: 11.57%
• 1Y: 22.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.05%

GARP

• 1D: -0.26%
• 1M: 2.15%
• 6M: 23.97%
• YTD: 22.03%
• 1Y: 36.44%
• 3Y*: 31.83%
• 5Y*: 18.17%
• 10Y*: —
• ALL TIME*: 20.82%

*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)
GARP iShares MSCI USA Quality GARP ETF	$29.60M	$25.66M	$23.08M
GQI Natixis Gateway Quality Income ETF	$1.09M	$1.01M	$2.07M

GQI vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GQI Natixis Gateway Quality Income ETF	11.57%	15.36%	15.99%	1.60%
GARP iShares MSCI USA Quality GARP ETF	22.03%	21.49%	37.42%	2.06%

Correlation

The correlation between GQI and GARP 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 (All Time) Calculated using the full available price history since Dec 13, 2023	0.88

The correlation between GQI and GARP has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

GQI vs. GARP - Sectors Allocation Comparison

Sectors	GQI	GARP
Technology	37.9%	54.7%
Consumer Cyclical	11.0%	9.1%
Healthcare	10.9%	5.4%
Communication Services	10.3%	11.0%
Financial Services	9.9%	7.9%
Industrials	8.3%	6.4%
Consumer Defensive	6.1%	-
Energy	3.9%	3.0%
Basic Materials	0.7%	1.1%
Utilities	0.6%	1.3%
Real Estate	0.4%	0.4%

Return for Risk

GQI vs. GARP — Risk / Return Rank

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

GQI

GQI Risk / Return Rank: 87
GQI Sharpe Ratio Rank: 88
GQI Sortino Ratio Rank: 87
GQI Omega Ratio Rank: 87
GQI Calmar Ratio Rank: 80
GQI Martin Ratio Rank: 92

GARP

GARP Risk / Return Rank: 67
GARP Sharpe Ratio Rank: 69
GARP Sortino Ratio Rank: 65
GARP Omega Ratio Rank: 63
GARP Calmar Ratio Rank: 67
GARP Martin Ratio Rank: 69

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.

GQI vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Natixis Gateway Quality Income ETF (GQI) and iShares MSCI USA Quality GARP ETF (GARP). 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.

	GQI	GARP	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.82	+0.48
Sortino ratio: Return per unit of downside risk	3.23	2.46	+0.77
Omega ratio: Gain probability vs. loss probability	1.42	1.31	+0.11
Calmar ratio: Return relative to maximum drawdown	3.25	2.67	+0.58
Martin ratio: Return relative to average drawdown	16.88	9.73	+7.15

GQI vs. GARP - Sharpe Ratio Comparison

The current GQI Sharpe Ratio is 2.31, which is comparable to the GARP Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of GQI and GARP, 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

GQI vs. GARP - Drawdown Comparison

The maximum GQI drawdown since its inception was -16.56%, smaller than the maximum GARP drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for GQI and GARP.

Drawdown Indicators

	GQI	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-16.56%	-31.34%	+14.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.96%	-13.69%	+6.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.61%	—
Current Drawdown Current decline from peak	-0.37%	-0.26%	-0.11%
Average Drawdown Average peak-to-trough decline	-1.61%	-7.26%	+5.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	3.76%	-2.42%

Volatility

GQI vs. GARP - Volatility Comparison

The current volatility for Natixis Gateway Quality Income ETF (GQI) is 2.77%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 6.22%. This indicates that GQI experiences smaller price fluctuations and is considered to be less risky than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQI	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	6.22%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	16.09%	-8.38%
Volatility (1Y) Calculated over the trailing 1-year period	9.82%	20.11%	-10.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.00%	22.39%	-9.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	23.93%	-10.93%

GQI vs. GARP - Expense Ratio Comparison

GQI has a 0.34% expense ratio, which is higher than GARP's 0.15% expense ratio.

Dividends

GQI vs. GARP - Dividend Comparison

GQI's dividend yield for the trailing twelve months is around 8.64%, more than GARP's 0.26% yield.

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%
GQI Natixis Gateway Quality Income ETF	8.64%	8.97%	7.77%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GQI and GARP in my portfolio?

GQI and GARP 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.

Which is riskier, GQI or GARP?

GARP has higher volatility (6.22%) compared to GQI (2.77%). In terms of maximum drawdown, GQI dropped -16.56% vs GARP's -31.34%.

Which ETF is better, GQI or GARP?

On 1-year performance, GARP leads with 36.44% vs 22.52% for GQI. On fees, GARP is cheaper at 0.15% per year. On volatility, GQI has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQI or GARP?

Over the 1-year period, GARP has performed better with a 36.44% return vs 22.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQI or GARP?

GARP is cheaper with a 0.15% expense ratio, compared with 0.34% for GQI.

Which ETF pays a higher dividend yield, GQI or GARP?

GQI has the higher dividend yield at 8.64%, compared with 0.26% for GARP.

What is the main difference between GQI and GARP?

They also come from different issuers: Natixis and iShares. Their fees differ too: 0.34% for GQI and 0.15% for GARP.

Which has better risk-adjusted returns?

GQI currently has the higher Sharpe Ratio (2.31 vs 1.82), 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.