HGRO vs. ILCB
HGRO (Hedgeye Quality Growth ETF) and ILCB (iShares Morningstar U.S. Equity ETF) are both exchange-traded funds - HGRO is a Quality Factor fund actively managed by Hedgeye, while ILCB is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Index. HGRO is actively managed, while ILCB is passively managed. Over the past year, HGRO returned 17.25% vs 23.00% for ILCB. Their correlation of 0.90 means they have usually moved in the same direction. HGRO charges 0.70%/yr vs 0.03%/yr for ILCB.
Performance
HGRO vs. ILCB - Performance Comparison
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Returns By Period
In the year-to-date period, HGRO achieves a 7.49% return, which is significantly lower than ILCB's 11.73% return.
HGRO
- 1D
- 0.86%
- 1M
- -1.29%
- 6M
- 3.85%
- YTD
- 7.49%
- 1Y
- 17.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.93%
ILCB
- 1D
- 1.54%
- 1M
- 1.56%
- 6M
- 9.71%
- YTD
- 11.73%
- 1Y
- 23.00%
- 3Y*
- 20.96%
- 5Y*
- 12.54%
- 10Y*
- 14.42%
- ALL TIME*
- 11.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.36M | $1.39M | $1.92M | |
| $1.31M | $1.30M | $1.40M |
HGRO vs. ILCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HGRO Hedgeye Quality Growth ETF | 7.49% | 13.45% |
ILCB iShares Morningstar U.S. Equity ETF | 11.73% | 13.93% |
Correlation
The correlation between HGRO and ILCB 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 (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.90 |
The correlation between HGRO and ILCB has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.
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Return for Risk
HGRO vs. ILCB — Risk / Return Rank
HGRO
ILCB
HGRO vs. ILCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hedgeye Quality Growth ETF (HGRO) and iShares Morningstar U.S. Equity ETF (ILCB). 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.
| HGRO | ILCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.54 | -0.27 |
| Martin ratioReturn relative to average drawdown | 6.60 | 10.74 | -4.13 |
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Drawdowns
HGRO vs. ILCB - Drawdown Comparison
The maximum HGRO drawdown since its inception was -7.61%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for HGRO and ILCB.
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Drawdown Indicators
| HGRO | ILCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.61% | -51.53% | +43.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.61% | -9.09% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.05% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.30% | — |
Current DrawdownCurrent decline from peak | -3.99% | -0.12% | -3.87% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -6.20% | +4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.15% | +0.47% |
Volatility
HGRO vs. ILCB - Volatility Comparison
Hedgeye Quality Growth ETF (HGRO) has a higher volatility of 4.10% compared to iShares Morningstar U.S. Equity ETF (ILCB) at 3.90%. This indicates that HGRO's price experiences larger fluctuations and is considered to be riskier than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HGRO | ILCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 3.90% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.76% | 10.31% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.04% | 12.99% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.69% | 17.25% | -3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 18.20% | -4.51% |
HGRO vs. ILCB - Expense Ratio Comparison
HGRO has a 0.70% expense ratio, which is higher than ILCB's 0.03% expense ratio.
Dividends
HGRO vs. ILCB - Dividend Comparison
HGRO's dividend yield for the trailing twelve months is around 0.07%, less than ILCB's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HGRO Hedgeye Quality Growth ETF | 0.07% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ILCB iShares Morningstar U.S. Equity ETF | 0.97% | 1.11% | 1.19% | 1.43% | 1.65% | 1.16% | 1.26% | 2.25% | 2.17% | 1.81% | 1.97% | 2.44% |
Frequently Asked Questions
With a correlation of 0.90, HGRO and ILCB 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.
HGRO has higher volatility (4.10%) compared to ILCB (3.90%). In terms of maximum drawdown, HGRO dropped -7.61% vs ILCB's -51.53%.
On 1-year performance, ILCB leads with 23.00% vs 17.25% for HGRO. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ILCB has performed better with a 23.00% return vs 17.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCB is cheaper with a 0.03% expense ratio, compared with 0.70% for HGRO.
ILCB has the higher dividend yield at 0.97%, compared with 0.07% for HGRO.
HGRO is categorized as Quality Factor, while ILCB is Large Cap Growth Equities. They also come from different issuers: Hedgeye and iShares. Their fees differ too: 0.70% for HGRO and 0.03% for ILCB.
ILCB currently has the higher Sharpe Ratio (1.78 vs 1.24), 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.
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