HGRO vs. SQLV

Last updated Aug 4, 2026

HGRO (Hedgeye Quality Growth ETF) and SQLV (Royce Quant Small-Cap Quality Value ETF) are both Quality Factor funds. Both are actively managed. Over the past year, HGRO returned 17.25% vs 40.94% for SQLV. Their 0.49 correlation means their historical movements had little consistent relationship. HGRO charges 0.70%/yr vs 0.60%/yr for SQLV.

Performance

HGRO vs. SQLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Quality Growth ETF (HGRO) and Royce Quant Small-Cap Quality Value ETF (SQLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGRO achieves a 7.49% return, which is significantly lower than SQLV's 26.53% return.

HGRO

• 1D: 0.86%
• 1M: -1.29%
• 6M: 3.85%
• YTD: 7.49%
• 1Y: 17.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.93%

SQLV

• 1D: 2.40%
• 1M: 3.42%
• 6M: 19.47%
• YTD: 26.53%
• 1Y: 40.94%
• 3Y*: 13.50%
• 5Y*: 8.73%
• 10Y*: —
• ALL TIME*: 10.20%

*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)
HGRO Hedgeye Quality Growth ETF	$1.36M	$1.39M	$1.92M
SQLV Royce Quant Small-Cap Quality Value ETF	$1.21M	$631.84K	$254.10K

HGRO vs. SQLV - Yearly Performance Comparison

	2026 (YTD)	2025
HGRO Hedgeye Quality Growth ETF	7.49%	13.45%
SQLV Royce Quant Small-Cap Quality Value ETF	26.53%	8.80%

Correlation

The correlation between HGRO and SQLV is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	0.49

Return for Risk

HGRO vs. SQLV — Risk / Return Rank

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

HGRO

HGRO Risk / Return Rank: 48
HGRO Sharpe Ratio Rank: 45
HGRO Sortino Ratio Rank: 43
HGRO Omega Ratio Rank: 42
HGRO Calmar Ratio Rank: 59
HGRO Martin Ratio Rank: 52

SQLV

SQLV Risk / Return Rank: 90
SQLV Sharpe Ratio Rank: 91
SQLV Sortino Ratio Rank: 92
SQLV Omega Ratio Rank: 87
SQLV Calmar Ratio Rank: 93
SQLV Martin Ratio Rank: 89

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.

HGRO vs. SQLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Quality Growth ETF (HGRO) and Royce Quant Small-Cap Quality Value ETF (SQLV). 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	SQLV	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.38	-1.14
Sortino ratio: Return per unit of downside risk	1.72	3.46	-1.75
Omega ratio: Gain probability vs. loss probability	1.21	1.40	-0.19
Calmar ratio: Return relative to maximum drawdown	2.28	4.65	-2.37
Martin ratio: Return relative to average drawdown	6.60	14.61	-8.01

HGRO vs. SQLV - Sharpe Ratio Comparison

The current HGRO Sharpe Ratio is 1.24, which is lower than the SQLV Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of HGRO and SQLV, 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

HGRO vs. SQLV - Drawdown Comparison

The maximum HGRO drawdown since its inception was -7.61%, smaller than the maximum SQLV drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for HGRO and SQLV.

Drawdown Indicators

	HGRO	SQLV	Difference
Max Drawdown Largest peak-to-trough decline	-7.61%	-48.34%	+40.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-8.84%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.86%	—
Current Drawdown Current decline from peak	-3.99%	0.00%	-3.99%
Average Drawdown Average peak-to-trough decline	-1.65%	-8.80%	+7.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.81%	-0.19%

Volatility

HGRO vs. SQLV - Volatility Comparison

The current volatility for Hedgeye Quality Growth ETF (HGRO) is 4.10%, while Royce Quant Small-Cap Quality Value ETF (SQLV) has a volatility of 4.92%. This indicates that HGRO experiences smaller price fluctuations and is considered to be less risky than SQLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGRO	SQLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	4.92%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	11.82%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	17.32%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.69%	20.90%	-7.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	23.25%	-9.56%

HGRO vs. SQLV - Expense Ratio Comparison

HGRO has a 0.70% expense ratio, which is higher than SQLV's 0.60% expense ratio.

Dividends

HGRO vs. SQLV - Dividend Comparison

HGRO's dividend yield for the trailing twelve months is around 0.07%, less than SQLV's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SQLV Royce Quant Small-Cap Quality Value ETF	0.93%	1.15%	1.11%	1.09%	1.24%	1.12%	1.22%	1.20%	1.08%	0.40%

Frequently Asked Questions

Can I hold both HGRO and SQLV in my portfolio?

HGRO and SQLV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HGRO or SQLV?

SQLV has higher volatility (4.92%) compared to HGRO (4.10%). In terms of maximum drawdown, HGRO dropped -7.61% vs SQLV's -48.34%.

Which ETF is better, HGRO or SQLV?

On 1-year performance, SQLV leads with 40.94% vs 17.25% for HGRO. On fees, SQLV is cheaper at 0.60% per year. On volatility, HGRO has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HGRO or SQLV?

Over the 1-year period, SQLV has performed better with a 40.94% return vs 17.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HGRO or SQLV?

SQLV is cheaper with a 0.60% expense ratio, compared with 0.70% for HGRO.

Which ETF pays a higher dividend yield, HGRO or SQLV?

SQLV has the higher dividend yield at 0.93%, compared with 0.07% for HGRO.

What is the main difference between HGRO and SQLV?

They also come from different issuers: Hedgeye and Franklin Templeton. Their fees differ too: 0.70% for HGRO and 0.60% for SQLV.

Which has better risk-adjusted returns?

SQLV currently has the higher Sharpe Ratio (2.38 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.