HLAL vs. GQGU

Last updated Apr 2, 2026

Compare and contrast key facts about Wahed FTSE USA Shariah ETF (HLAL) and GQG US Equity ETF (GQGU).

HLAL and GQGU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HLAL is a passively managed fund by Wahed that tracks the performance of the FTSE Shariah USA Index. It was launched on Jul 16, 2019. GQGU is an actively managed fund by GQG Partners. It was launched on Jul 14, 2025.

Performance

HLAL vs. GQGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed FTSE USA Shariah ETF (HLAL) and GQG US Equity ETF (GQGU). The values are adjusted to include any dividend payments, if applicable.

HLAL vs. GQGU - Yearly Performance Comparison

	2026 (YTD)	2025
HLAL Wahed FTSE USA Shariah ETF	-3.31%	15.13%
GQGU GQG US Equity ETF	8.19%	-1.14%

Returns By Period

In the year-to-date period, HLAL achieves a -3.31% return, which is significantly lower than GQGU's 8.19% return.

HLAL

• 1D: 0.98%
• 1M: -4.62%
• YTD: -3.31%
• 6M: 0.55%
• 1Y: 22.37%
• 3Y*: 16.11%
• 5Y*: 11.90%
• 10Y*: —

GQGU

• 1D: -1.30%
• 1M: -3.10%
• YTD: 8.19%
• 6M: 6.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HLAL vs. GQGU - Expense Ratio Comparison

HLAL has a 0.50% expense ratio, which is higher than GQGU's 0.49% expense ratio.

HLAL

Wahed FTSE USA Shariah ETF

GQGU

GQG US Equity ETF

Return for Risk

HLAL vs. GQGU — Risk / Return Rank

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

HLAL

HLAL Risk / Return Rank: 68
HLAL Sharpe Ratio Rank: 63
HLAL Sortino Ratio Rank: 68
HLAL Omega Ratio Rank: 69
HLAL Calmar Ratio Rank: 67
HLAL Martin Ratio Rank: 74

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.

HLAL vs. GQGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed FTSE USA Shariah ETF (HLAL) and GQG US Equity ETF (GQGU). 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.

	HLAL	GQGU	Difference
Sharpe ratio Return per unit of total volatility	1.15	—	—
Sortino ratio Return per unit of downside risk	1.77	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	1.77	—	—
Martin ratio Return relative to average drawdown	8.08	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HLAL	GQGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.02	-0.28

Correlation

The correlation between HLAL and GQGU is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

HLAL vs. GQGU - Dividend Comparison

HLAL's dividend yield for the trailing twelve months is around 0.55%, less than GQGU's 0.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
HLAL Wahed FTSE USA Shariah ETF	0.55%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%
GQGU GQG US Equity ETF	0.94%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HLAL vs. GQGU - Drawdown Comparison

The maximum HLAL drawdown since its inception was -33.57%, which is greater than GQGU's maximum drawdown of -6.65%. Use the drawdown chart below to compare losses from any high point for HLAL and GQGU.

Drawdown Indicators

	HLAL	GQGU	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-6.65%	-26.92%
Max Drawdown (1Y) Largest decline over 1 year	-13.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	—	—
Current Drawdown Current decline from peak	-6.39%	-3.24%	-3.15%
Average Drawdown Average peak-to-trough decline	-5.10%	-2.21%	-2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	—	—

Volatility

Volatility by Period

	HLAL	GQGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	9.66%	+9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	9.66%	+7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.33%	9.66%	+10.67%