GVIP vs. QARP

Last updated Jul 17, 2026

GVIP (Goldman Sachs Hedge Industry VIP ETF) and QARP (Xtrackers Russell 1000 US Quality at a Reasonable Price ETF) are both Large Cap Growth Equities funds - GVIP tracks the Goldman Sachs Hedge Fund VIP Index while QARP tracks the Russell 1000 2Qual/Val 5% Capped Factor Index. Both are passively managed. Over the past 5 years, GVIP returned 12.08%/yr vs 12.09%/yr for QARP. Their correlation of 0.82 suggests significant overlap in exposure. GVIP charges 0.45%/yr vs 0.19%/yr for QARP.

Performance

GVIP vs. QARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Hedge Industry VIP ETF (GVIP) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GVIP having a 12.32% return and QARP slightly higher at 12.78%.

GVIP

• 1D: -2.55%
• 1M: -3.96%
• 6M: 9.31%
• YTD: 12.32%
• 1Y: 25.84%
• 3Y*: 25.82%
• 5Y*: 12.08%
• 10Y*: —

QARP

• 1D: 0.71%
• 1M: 1.10%
• 6M: 9.34%
• YTD: 12.78%
• 1Y: 25.00%
• 3Y*: 17.33%
• 5Y*: 12.09%
• 10Y*: —

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

GVIP vs. QARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GVIP Goldman Sachs Hedge Industry VIP ETF	12.32%	25.27%	29.82%	39.15%	-31.95%	11.86%	44.12%	30.21%	-7.49%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	12.78%	13.99%	18.94%	23.03%	-14.62%	31.82%	14.83%	30.70%	-5.53%

Correlation

The correlation between GVIP and QARP 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 (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018	0.82

The correlation between GVIP and QARP shifts across timeframes, from 0.68 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

GVIP vs. QARP - Sectors Allocation Comparison

Sectors	GVIP	QARP
Technology	34.8%	23.5%
Financial Services	16.0%	12.1%
Communication Services	13.7%	11.3%
Industrials	11.0%	8.5%
Consumer Cyclical	10.0%	9.6%
Healthcare	8.2%	13.9%
Utilities	6.3%	2.0%
Consumer Defensive	1.2%	9.6%
Basic Materials	-	2.3%
Energy	-	5.8%
Real Estate	-	1.0%

Return for Risk

GVIP vs. QARP — Risk / Return Rank

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

GVIP

GVIP Risk / Return Rank: 43
GVIP Sharpe Ratio Rank: 40
GVIP Sortino Ratio Rank: 37
GVIP Omega Ratio Rank: 40
GVIP Calmar Ratio Rank: 46
GVIP Martin Ratio Rank: 53

QARP

QARP Risk / Return Rank: 87
QARP Sharpe Ratio Rank: 90
QARP Sortino Ratio Rank: 89
QARP Omega Ratio Rank: 88
QARP Calmar Ratio Rank: 82
QARP Martin Ratio Rank: 89

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.

GVIP vs. QARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Hedge Industry VIP ETF (GVIP) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). 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.

	GVIP	QARP	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.38	-1.19
Sortino ratio: Return per unit of downside risk	1.65	3.34	-1.69
Omega ratio: Gain probability vs. loss probability	1.22	1.43	-0.21
Calmar ratio: Return relative to maximum drawdown	1.90	3.46	-1.56
Martin ratio: Return relative to average drawdown	7.28	15.38	-8.10

GVIP vs. QARP - Sharpe Ratio Comparison

The current GVIP Sharpe Ratio is 1.18, which is lower than the QARP Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of GVIP and QARP, 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

GVIP vs. QARP - Drawdown Comparison

The maximum GVIP drawdown since its inception was -37.09%, roughly equal to the maximum QARP drawdown of -35.44%. Use the drawdown chart below to compare losses from any high point for GVIP and QARP.

Drawdown Indicators

	GVIP	QARP	Difference
Max Drawdown Largest peak-to-trough decline	-37.09%	-35.44%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.67%	-7.26%	-6.41%
Max Drawdown (3Y) Largest decline over 3 years	-23.29%	-15.65%	-7.64%
Max Drawdown (5Y) Largest decline over 5 years	-37.09%	-22.75%	-14.34%
Current Drawdown Current decline from peak	-9.26%	0.00%	-9.26%
Average Drawdown Average peak-to-trough decline	-7.55%	-4.39%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	1.63%	+1.93%

Volatility

GVIP vs. QARP - Volatility Comparison

Goldman Sachs Hedge Industry VIP ETF (GVIP) has a higher volatility of 10.63% compared to Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP) at 2.76%. This indicates that GVIP's price experiences larger fluctuations and is considered to be riskier than QARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVIP	QARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	2.76%	+7.87%
Volatility (6M) Calculated over the trailing 6-month period	18.91%	8.22%	+10.69%
Volatility (1Y) Calculated over the trailing 1-year period	21.95%	10.58%	+11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	15.54%	+6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	19.55%	+2.37%

GVIP vs. QARP - Expense Ratio Comparison

GVIP has a 0.45% expense ratio, which is higher than QARP's 0.19% expense ratio.

Dividends

GVIP vs. QARP - Dividend Comparison

GVIP's dividend yield for the trailing twelve months is around 0.30%, less than QARP's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GVIP Goldman Sachs Hedge Industry VIP ETF	0.30%	0.34%	0.29%	0.77%	0.02%	0.00%	0.12%	0.77%	0.44%	0.45%	0.08%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	1.02%	1.14%	1.39%	1.28%	1.68%	1.34%	1.61%	1.85%	1.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVIP and QARP in my portfolio?

GVIP and QARP 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, GVIP or QARP?

GVIP has higher volatility (10.63%) compared to QARP (2.76%). In terms of maximum drawdown, GVIP dropped -37.09% vs QARP's -35.44%.

Which ETF is better, GVIP or QARP?

On 5-year performance, QARP leads with 12.09% vs 12.08% for GVIP. On fees, QARP is cheaper at 0.19% per year. On volatility, QARP has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GVIP or QARP?

Over the 5-year period, QARP has performed better with a 12.09% return vs 12.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GVIP or QARP?

QARP is cheaper with a 0.19% expense ratio, compared with 0.45% for GVIP.

Which ETF pays a higher dividend yield, GVIP or QARP?

QARP has the higher dividend yield at 1.02%, compared with 0.30% for GVIP.

What is the main difference between GVIP and QARP?

GVIP tracks Goldman Sachs Hedge Fund VIP Index, while QARP tracks Russell 1000 2Qual/Val 5% Capped Factor Index. They also come from different issuers: Goldman Sachs and Deutsche Bank. Their fees differ too: 0.45% for GVIP and 0.19% for QARP.

Which has better risk-adjusted returns?

QARP currently has the higher Sharpe Ratio (2.38 vs 1.18), 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.