HFGO vs. GARP

Last updated Aug 4, 2026

HFGO (Hartford Large Cap Growth ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both exchange-traded funds - HFGO is a Large Cap Growth Equities fund actively managed by Hartford, while GARP is a Quality Factor fund tracking the MSCI USA Quality GARP Select Index. HFGO is actively managed, while GARP is passively managed. Over the past 3 years, HFGO returned 23.35%/yr vs 30.65%/yr for GARP. Their correlation of 0.93 means they have usually moved in the same direction. HFGO charges 0.60%/yr vs 0.15%/yr for GARP.

Performance

HFGO vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Large Cap Growth ETF (HFGO) 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, HFGO achieves a 5.49% return, which is significantly lower than GARP's 18.78% return.

HFGO

• 1D: 2.49%
• 1M: -0.31%
• 6M: 8.43%
• YTD: 5.49%
• 1Y: 14.20%
• 3Y*: 23.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.01%

GARP

• 1D: 1.62%
• 1M: 0.39%
• 6M: 15.63%
• YTD: 18.78%
• 1Y: 33.89%
• 3Y*: 30.65%
• 5Y*: 17.57%
• 10Y*: —
• ALL TIME*: 20.34%

*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	$26.43M	$25.59M	$23.01M
HFGO Hartford Large Cap Growth ETF	$551.12K	$771.71K	$1.12M

HFGO vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HFGO Hartford Large Cap Growth ETF	5.49%	15.52%	40.73%	42.45%	-36.69%	-6.95%
GARP iShares MSCI USA Quality GARP ETF	18.78%	21.49%	37.42%	42.86%	-26.75%	0.74%

Correlation

The correlation between HFGO and GARP is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.93

The correlation between HFGO and GARP has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

HFGO vs. GARP - Sectors Allocation Comparison

Sectors	HFGO	GARP
Technology	59.7%	54.7%
Communication Services	17.6%	11.0%
Consumer Cyclical	7.8%	9.1%
Healthcare	7.0%	5.4%
Industrials	4.0%	6.4%
Financial Services	2.1%	7.9%
Basic Materials	1.0%	1.1%
Consumer Defensive	0.5%	-
Energy	0.5%	3.0%
Real Estate	-	0.4%
Utilities	-	1.3%

Return for Risk

HFGO vs. GARP — Risk / Return Rank

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

HFGO

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

GARP

GARP Risk / Return Rank: 70
GARP Sharpe Ratio Rank: 74
GARP Sortino Ratio Rank: 69
GARP Omega Ratio Rank: 67
GARP Calmar Ratio Rank: 70
GARP Martin Ratio Rank: 72

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.

HFGO vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Large Cap Growth ETF (HFGO) 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.

	HFGO	GARP	Difference
Sharpe ratio: Return per unit of total volatility	0.70	1.70	-1.01
Sortino ratio: Return per unit of downside risk	1.08	2.31	-1.23
Omega ratio: Gain probability vs. loss probability	1.13	1.29	-0.16
Calmar ratio: Return relative to maximum drawdown	0.78	2.49	-1.71
Martin ratio: Return relative to average drawdown	2.24	9.05	-6.81

HFGO vs. GARP - Sharpe Ratio Comparison

The current HFGO Sharpe Ratio is 0.70, which is lower than the GARP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of HFGO 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

HFGO vs. GARP - Drawdown Comparison

The maximum HFGO drawdown since its inception was -44.64%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for HFGO and GARP.

Drawdown Indicators

	HFGO	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-44.64%	-31.34%	-13.30%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	-13.69%	-4.60%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-23.73%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.61%	—
Current Drawdown Current decline from peak	-6.73%	-2.79%	-3.94%
Average Drawdown Average peak-to-trough decline	-15.78%	-7.27%	-8.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.35%	3.76%	+2.59%

Volatility

HFGO vs. GARP - Volatility Comparison

Hartford Large Cap Growth ETF (HFGO) has a higher volatility of 7.42% compared to iShares MSCI USA Quality GARP ETF (GARP) at 5.74%. This indicates that HFGO's price experiences larger fluctuations and is considered to be riskier than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFGO	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.42%	5.74%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	16.70%	16.02%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	20.49%	20.01%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.96%	22.36%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.96%	23.92%	+2.04%

HFGO vs. GARP - Expense Ratio Comparison

HFGO has a 0.60% expense ratio, which is higher than GARP's 0.15% expense ratio.

Dividends

HFGO vs. GARP - Dividend Comparison

HFGO has not paid dividends to shareholders, while GARP's dividend yield for the trailing twelve months is around 0.27%.

Position	TTM	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%
HFGO Hartford Large Cap Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HFGO and GARP in my portfolio?

With a correlation of 0.90, HFGO and GARP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HFGO or GARP?

HFGO has higher volatility (7.42%) compared to GARP (5.74%). In terms of maximum drawdown, HFGO dropped -44.64% vs GARP's -31.34%.

Which ETF is better, HFGO or GARP?

On 3-year performance, GARP leads with 30.65% vs 23.35% for HFGO. On fees, GARP is cheaper at 0.15% per year. On volatility, GARP has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFGO or GARP?

Over the 3-year period, GARP has performed better with a 30.65% return vs 23.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFGO or GARP?

GARP is cheaper with a 0.15% expense ratio, compared with 0.60% for HFGO.

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

GARP has the higher dividend yield at 0.27%, compared with 0.00% for HFGO.

What is the main difference between HFGO and GARP?

HFGO is categorized as Large Cap Growth Equities, while GARP is Quality Factor. They also come from different issuers: Hartford and iShares. Their fees differ too: 0.60% for HFGO and 0.15% for GARP.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (1.70 vs 0.70), 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.