GRPM vs. OPTZ

Last updated Jul 14, 2026

GRPM (Invesco S&P MidCap 400® GARP ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds - GRPM tracks the S&P MidCap 400® GARP Index while OPTZ tracks the Optimize Strategy Index. Both are passively managed. Over the past year, GRPM returned 18.16% vs 49.80% for OPTZ. A 0.76 correlation means they provide meaningful diversification when combined. GRPM charges 0.35%/yr vs 0.25%/yr for OPTZ.

Performance

GRPM vs. OPTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® GARP ETF (GRPM) and Optimize Strategy Index ETF (OPTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRPM achieves a 10.58% return, which is significantly lower than OPTZ's 29.14% return.

GRPM

• 1D: -0.04%
• 1M: 1.59%
• 6M: 8.43%
• YTD: 10.58%
• 1Y: 18.16%
• 3Y*: 13.61%
• 5Y*: 9.14%
• 10Y*: 11.01%

OPTZ

• 1D: -1.92%
• 1M: -1.80%
• 6M: 24.29%
• YTD: 29.14%
• 1Y: 49.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GRPM vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRPM Invesco S&P MidCap 400® GARP ETF	10.58%	7.81%	-0.36%
OPTZ Optimize Strategy Index ETF	29.14%	22.83%	16.41%

Correlation

The correlation between GRPM and OPTZ is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 23, 2024	0.76

The correlation between GRPM and OPTZ has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

GRPM vs. OPTZ - Sectors Allocation Comparison

Sectors	GRPM	OPTZ
Financial Services	21.1%	8.0%
Healthcare	18.9%	9.4%
Technology	17.7%	55.4%
Consumer Cyclical	9.3%	8.5%
Industrials	8.8%	8.2%
Energy	4.9%	1.3%
Consumer Defensive	4.3%	3.5%
Basic Materials	3.8%	1.1%
Communication Services	-	2.6%
Real Estate	-	1.4%
Utilities	-	0.6%

Return for Risk

GRPM vs. OPTZ — Risk / Return Rank

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

GRPM

GRPM Risk / Return Rank: 46
GRPM Sharpe Ratio Rank: 40
GRPM Sortino Ratio Rank: 41
GRPM Omega Ratio Rank: 37
GRPM Calmar Ratio Rank: 60
GRPM Martin Ratio Rank: 52

OPTZ

OPTZ Risk / Return Rank: 89
OPTZ Sharpe Ratio Rank: 90
OPTZ Sortino Ratio Rank: 86
OPTZ Omega Ratio Rank: 85
OPTZ Calmar Ratio Rank: 92
OPTZ Martin Ratio Rank: 93

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.

GRPM vs. OPTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® GARP ETF (GRPM) and Optimize Strategy Index ETF (OPTZ). 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.

	GRPM	OPTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.39	-1.25
Sortino ratio: Return per unit of downside risk	1.72	3.10	-1.38
Omega ratio: Gain probability vs. loss probability	1.20	1.41	-0.20
Calmar ratio: Return relative to maximum drawdown	2.39	4.71	-2.31
Martin ratio: Return relative to average drawdown	7.00	18.97	-11.96

GRPM vs. OPTZ - Sharpe Ratio Comparison

The current GRPM Sharpe Ratio is 1.14, which is lower than the OPTZ Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of GRPM and OPTZ, 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

GRPM vs. OPTZ - Drawdown Comparison

The maximum GRPM drawdown since its inception was -43.12%, which is greater than OPTZ's maximum drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for GRPM and OPTZ.

Drawdown Indicators

	GRPM	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-25.75%	-17.37%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-10.63%	+3.01%
Max Drawdown (3Y) Largest decline over 3 years	-28.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.12%	—	—
Current Drawdown Current decline from peak	-0.96%	-6.46%	+5.50%
Average Drawdown Average peak-to-trough decline	-5.68%	-3.37%	-2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.63%	-0.03%

Volatility

GRPM vs. OPTZ - Volatility Comparison

The current volatility for Invesco S&P MidCap 400® GARP ETF (GRPM) is 3.89%, while Optimize Strategy Index ETF (OPTZ) has a volatility of 10.38%. This indicates that GRPM experiences smaller price fluctuations and is considered to be less risky than OPTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRPM	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	10.38%	-6.49%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	17.60%	-7.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	20.97%	-5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	21.64%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	21.64%	+0.54%

GRPM vs. OPTZ - Expense Ratio Comparison

GRPM has a 0.35% expense ratio, which is higher than OPTZ's 0.25% expense ratio.

Dividends

GRPM vs. OPTZ - Dividend Comparison

GRPM's dividend yield for the trailing twelve months is around 0.72%, more than OPTZ's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRPM Invesco S&P MidCap 400® GARP ETF	0.72%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%
OPTZ Optimize Strategy Index ETF	0.45%	0.58%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GRPM and OPTZ in my portfolio?

GRPM and OPTZ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRPM or OPTZ?

OPTZ has higher volatility (10.38%) compared to GRPM (3.89%). In terms of maximum drawdown, GRPM dropped -43.12% vs OPTZ's -25.75%.

Which ETF is better, GRPM or OPTZ?

On 1-year performance, OPTZ leads with 49.80% vs 18.16% for GRPM. On fees, OPTZ is cheaper at 0.25% per year. On volatility, GRPM has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRPM or OPTZ?

Over the 1-year period, OPTZ has performed better with a 49.80% return vs 18.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRPM or OPTZ?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.35% for GRPM.

Which ETF pays a higher dividend yield, GRPM or OPTZ?

GRPM has the higher dividend yield at 0.72%, compared with 0.45% for OPTZ.

What is the main difference between GRPM and OPTZ?

GRPM tracks S&P MidCap 400® GARP Index, while OPTZ tracks Optimize Strategy Index. They also come from different issuers: Invesco and Optimize. Their fees differ too: 0.35% for GRPM and 0.25% for OPTZ.

Which has better risk-adjusted returns?

OPTZ currently has the higher Sharpe Ratio (2.39 vs 1.14), 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.