GRPZ vs. ISCG

Last updated Aug 2, 2026

GRPZ (Invesco S&P Smallcap 600 GARP ETF) and ISCG (iShares Morningstar Small-Cap Growth ETF) are both Small Cap Growth Equities funds - GRPZ tracks the S&P SmallCap 600 GARP Index while ISCG tracks the Morningstar US Small Cap Broad Growth Extended Index. Both are passively managed. Over the past year, GRPZ returned 31.76% vs 26.04% for ISCG. Their correlation of 0.84 means they have usually moved in the same direction. GRPZ charges 0.35%/yr vs 0.06%/yr for ISCG.

Performance

GRPZ vs. ISCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Smallcap 600 GARP ETF (GRPZ) and iShares Morningstar Small-Cap Growth ETF (ISCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRPZ achieves a 22.54% return, which is significantly higher than ISCG's 13.23% return.

GRPZ

• 1D: -0.32%
• 1M: 0.21%
• 6M: 15.61%
• YTD: 22.54%
• 1Y: 31.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.48%

ISCG

• 1D: -0.16%
• 1M: -3.05%
• 6M: 9.27%
• YTD: 13.23%
• 1Y: 26.04%
• 3Y*: 14.05%
• 5Y*: 5.32%
• 10Y*: 10.97%
• ALL TIME*: 9.44%

*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)
GRPZ Invesco S&P Smallcap 600 GARP ETF	$15.52K	$24.90K	$26.26K
ISCG iShares Morningstar Small-Cap Growth ETF	$1.43M	$1.55M	$1.83M

GRPZ vs. ISCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRPZ Invesco S&P Smallcap 600 GARP ETF	22.54%	3.09%	4.27%
ISCG iShares Morningstar Small-Cap Growth ETF	13.23%	12.88%	8.83%

Correlation

The correlation between GRPZ and ISCG is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024	0.84

The correlation between GRPZ and ISCG has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

GRPZ vs. ISCG - Sectors Allocation Comparison

Sectors	GRPZ	ISCG
Financial Services	26.4%	10.0%
Healthcare	18.8%	18.3%
Technology	13.2%	21.8%
Industrials	12.3%	22.2%
Consumer Defensive	9.5%	2.6%
Consumer Cyclical	9.2%	8.4%
Real Estate	4.0%	5.4%
Energy	3.4%	3.1%
Communication Services	3.2%	2.8%
Basic Materials	0.9%	4.3%
Utilities	-	1.0%

Return for Risk

GRPZ vs. ISCG — Risk / Return Rank

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

GRPZ

GRPZ Risk / Return Rank: 75
GRPZ Sharpe Ratio Rank: 74
GRPZ Sortino Ratio Rank: 80
GRPZ Omega Ratio Rank: 68
GRPZ Calmar Ratio Rank: 83
GRPZ Martin Ratio Rank: 72

ISCG

ISCG Risk / Return Rank: 55
ISCG Sharpe Ratio Rank: 53
ISCG Sortino Ratio Rank: 54
ISCG Omega Ratio Rank: 48
ISCG Calmar Ratio Rank: 59
ISCG Martin Ratio Rank: 63

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.

GRPZ vs. ISCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Smallcap 600 GARP ETF (GRPZ) and iShares Morningstar Small-Cap Growth ETF (ISCG). 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.

	GRPZ	ISCG	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.28	+0.41
Sortino ratio: Return per unit of downside risk	2.59	1.87	+0.71
Omega ratio: Gain probability vs. loss probability	1.29	1.22	+0.07
Calmar ratio: Return relative to maximum drawdown	3.10	2.08	+1.02
Martin ratio: Return relative to average drawdown	8.97	7.52	+1.46

GRPZ vs. ISCG - Sharpe Ratio Comparison

The current GRPZ Sharpe Ratio is 1.69, which is higher than the ISCG Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of GRPZ and ISCG, 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

GRPZ vs. ISCG - Drawdown Comparison

The maximum GRPZ drawdown since its inception was -27.87%, smaller than the maximum ISCG drawdown of -57.72%. Use the drawdown chart below to compare losses from any high point for GRPZ and ISCG.

Drawdown Indicators

	GRPZ	ISCG	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-57.72%	+29.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-11.43%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.48%	—
Current Drawdown Current decline from peak	-1.71%	-4.47%	+2.76%
Average Drawdown Average peak-to-trough decline	-6.58%	-11.56%	+4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.16%	+0.13%

Volatility

GRPZ vs. ISCG - Volatility Comparison

Invesco S&P Smallcap 600 GARP ETF (GRPZ) has a higher volatility of 4.45% compared to iShares Morningstar Small-Cap Growth ETF (ISCG) at 4.22%. This indicates that GRPZ's price experiences larger fluctuations and is considered to be riskier than ISCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRPZ	ISCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	4.22%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	13.65%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	17.55%	18.62%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.81%	22.96%	-2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	23.14%	-2.33%

GRPZ vs. ISCG - Expense Ratio Comparison

GRPZ has a 0.35% expense ratio, which is higher than ISCG's 0.06% expense ratio.

Dividends

GRPZ vs. ISCG - Dividend Comparison

GRPZ's dividend yield for the trailing twelve months is around 0.88%, more than ISCG's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRPZ Invesco S&P Smallcap 600 GARP ETF	0.88%	0.97%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ISCG iShares Morningstar Small-Cap Growth ETF	0.59%	0.61%	0.84%	0.77%	0.92%	0.62%	0.10%	0.27%	0.40%	0.52%	1.19%	0.64%

Frequently Asked Questions

Can I hold both GRPZ and ISCG in my portfolio?

GRPZ and ISCG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRPZ or ISCG?

GRPZ has higher volatility (4.45%) compared to ISCG (4.22%). In terms of maximum drawdown, GRPZ dropped -27.87% vs ISCG's -57.72%.

Which ETF is better, GRPZ or ISCG?

On 1-year performance, GRPZ leads with 31.76% vs 26.04% for ISCG. On fees, ISCG is cheaper at 0.06% per year. On volatility, ISCG has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRPZ or ISCG?

Over the 1-year period, GRPZ has performed better with a 31.76% return vs 26.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRPZ or ISCG?

ISCG is cheaper with a 0.06% expense ratio, compared with 0.35% for GRPZ.

Which ETF pays a higher dividend yield, GRPZ or ISCG?

GRPZ has the higher dividend yield at 0.88%, compared with 0.59% for ISCG.

What is the main difference between GRPZ and ISCG?

GRPZ tracks S&P SmallCap 600 GARP Index, while ISCG tracks Morningstar US Small Cap Broad Growth Extended Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for GRPZ and 0.06% for ISCG.

Which has better risk-adjusted returns?

GRPZ currently has the higher Sharpe Ratio (1.69 vs 1.28), 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.