HLAL vs. QGRW

Last updated Jun 9, 2026

HLAL (Wahed FTSE USA Shariah ETF) and QGRW (WisdomTree U.S. Quality Growth Fund) are both Large Cap Growth Equities funds - HLAL tracks the FTSE Shariah USA Index while QGRW tracks the WisdomTree U.S. Quality Growth Index. Both are passively managed. Over the past 3 years, HLAL returned 20.47%/yr vs 27.65%/yr for QGRW. Their correlation of 0.91 suggests significant overlap in exposure. HLAL charges 0.50%/yr vs 0.28%/yr for QGRW.

Performance

HLAL vs. QGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed FTSE USA Shariah ETF (HLAL) and WisdomTree U.S. Quality Growth Fund (QGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLAL achieves a 14.51% return, which is significantly higher than QGRW's 11.27% return.

HLAL

• 1D: 0.58%
• 1M: 1.42%
• YTD: 14.51%
• 6M: 13.94%
• 1Y: 37.60%
• 3Y*: 20.47%
• 5Y*: 15.03%
• 10Y*: —

QGRW

• 1D: 0.87%
• 1M: 0.59%
• YTD: 11.27%
• 6M: 10.05%
• 1Y: 29.71%
• 3Y*: 27.65%
• 5Y*: —
• 10Y*: —

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

HLAL vs. QGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HLAL Wahed FTSE USA Shariah ETF	14.51%	18.30%	16.70%	30.13%	-1.81%
QGRW WisdomTree U.S. Quality Growth Fund	11.27%	19.20%	34.85%	56.05%	-3.30%

Correlation

The correlation between HLAL and QGRW is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 16, 2022	0.91

The correlation between HLAL and QGRW has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

HLAL vs. QGRW - Sectors Allocation Comparison

Sectors	HLAL	QGRW
Technology	50.4%	52.1%
Communication Services	16.7%	17.8%
Healthcare	10.5%	4.3%
Consumer Cyclical	5.6%	12.4%
Industrials	4.6%	8.0%
Energy	4.5%	0.6%
Consumer Defensive	2.9%	0.5%
Basic Materials	2.5%	-
Utilities	1.0%	0.4%
Real Estate	0.8%	-
Financial Services	0.0%	4.1%

Return for Risk

HLAL vs. QGRW — Risk / Return Rank

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

HLAL

HLAL Risk / Return Rank: 86
HLAL Sharpe Ratio Rank: 90
HLAL Sortino Ratio Rank: 89
HLAL Omega Ratio Rank: 87
HLAL Calmar Ratio Rank: 79
HLAL Martin Ratio Rank: 87

QGRW

QGRW Risk / Return Rank: 50
QGRW Sharpe Ratio Rank: 54
QGRW Sortino Ratio Rank: 50
QGRW Omega Ratio Rank: 52
QGRW Calmar Ratio Rank: 43
QGRW Martin Ratio Rank: 49

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. QGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed FTSE USA Shariah ETF (HLAL) and WisdomTree U.S. Quality Growth Fund (QGRW). 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	QGRW	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.66	+1.10
Sortino ratio: Return per unit of downside risk	3.74	2.22	+1.52
Omega ratio: Gain probability vs. loss probability	1.49	1.29	+0.20
Calmar ratio: Return relative to maximum drawdown	3.70	1.93	+1.77
Martin ratio: Return relative to average drawdown	16.89	7.51	+9.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLAL vs. QGRW - Sharpe Ratio Comparison

The current HLAL Sharpe Ratio is 2.77, which is higher than the QGRW Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of HLAL and QGRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HLAL	QGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	1.66	+1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.57	-0.71

Drawdowns

HLAL vs. QGRW - Drawdown Comparison

The maximum HLAL drawdown since its inception was -33.57%, which is greater than QGRW's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for HLAL and QGRW.

Drawdown Indicators

	HLAL	QGRW	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-24.40%	-9.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-15.44%	+5.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	-24.40%	+2.73%
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	—	—
Current Drawdown Current decline from peak	-3.61%	-4.88%	+1.27%
Average Drawdown Average peak-to-trough decline	-5.00%	-3.26%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	3.97%	-1.74%

Volatility

HLAL vs. QGRW - Volatility Comparison

The current volatility for Wahed FTSE USA Shariah ETF (HLAL) is 5.14%, while WisdomTree U.S. Quality Growth Fund (QGRW) has a volatility of 6.50%. This indicates that HLAL experiences smaller price fluctuations and is considered to be less risky than QGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLAL	QGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	6.50%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	10.67%	14.46%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	17.99%	-4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	21.19%	-3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.24%	21.19%	-0.95%

HLAL vs. QGRW - Expense Ratio Comparison

HLAL has a 0.50% expense ratio, which is higher than QGRW's 0.28% expense ratio.

Dividends

HLAL vs. QGRW - Dividend Comparison

HLAL's dividend yield for the trailing twelve months is around 0.46%, more than QGRW's 0.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HLAL Wahed FTSE USA Shariah ETF	0.46%	0.53%	0.58%	0.72%	1.15%	0.78%	0.97%	0.72%
QGRW WisdomTree U.S. Quality Growth Fund	0.08%	0.09%	0.14%	0.11%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HLAL and QGRW in my portfolio?

HLAL and QGRW have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLAL or QGRW?

QGRW has higher volatility (6.50%) compared to HLAL (5.14%). In terms of maximum drawdown, HLAL dropped -33.57% vs QGRW's -24.40%.

Which ETF is better, HLAL or QGRW?

On 3-year performance, QGRW leads with 27.65% vs 20.47% for HLAL. On fees, QGRW is cheaper at 0.28% per year. On volatility, HLAL has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HLAL or QGRW?

Over the 3-year period, QGRW has performed better with a 27.65% return vs 20.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HLAL or QGRW?

QGRW is cheaper with a 0.28% expense ratio, compared with 0.50% for HLAL.

Which ETF pays a higher dividend yield, HLAL or QGRW?

HLAL has the higher dividend yield at 0.46%, compared with 0.08% for QGRW.

What is the main difference between HLAL and QGRW?

HLAL tracks FTSE Shariah USA Index, while QGRW tracks WisdomTree U.S. Quality Growth Index. They also come from different issuers: Wahed and WisdomTree. Their fees differ too: 0.50% for HLAL and 0.28% for QGRW.

Which has better risk-adjusted returns?

HLAL currently has the higher Sharpe Ratio (2.77 vs 1.66), 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.