HQGO vs. PBUS

Last updated Jun 23, 2026

HQGO (Hartford US Quality Growth ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds - HQGO tracks the Hartford US Quality Growth Index - Benchmark TR Gross while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past year, HQGO returned 23.94% vs 23.30% for PBUS. With a 0.96 correlation, they move nearly in lockstep. HQGO charges 0.34%/yr vs 0.04%/yr for PBUS.

Performance

HQGO vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Quality Growth ETF (HQGO) and Invesco PureBeta MSCI USA ETF (PBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HQGO achieves a 7.39% return, which is significantly lower than PBUS's 8.10% return.

HQGO

• 1D: -0.87%
• 1M: -0.68%
• YTD: 7.39%
• 6M: 6.47%
• 1Y: 23.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBUS

• 1D: -1.41%
• 1M: -1.27%
• YTD: 8.10%
• 6M: 7.04%
• 1Y: 23.30%
• 3Y*: 20.88%
• 5Y*: 12.60%
• 10Y*: —

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

HQGO vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HQGO Hartford US Quality Growth ETF	7.39%	15.15%	25.09%	5.10%
PBUS Invesco PureBeta MSCI USA ETF	8.10%	17.58%	24.99%	4.82%

Correlation

The correlation between HQGO and PBUS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.96

The correlation between HQGO and PBUS has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

HQGO vs. PBUS - Sectors Allocation Comparison

Sectors	HQGO	PBUS
Technology	42.1%	38.9%
Consumer Cyclical	13.5%	9.9%
Communication Services	13.1%	10.7%
Healthcare	9.2%	8.4%
Industrials	6.1%	8.1%
Financial Services	6.0%	10.9%
Consumer Defensive	3.9%	4.4%
Energy	3.6%	3.2%
Basic Materials	1.8%	1.7%
Real Estate	0.6%	1.8%
Utilities	0.1%	2.0%

Return for Risk

HQGO vs. PBUS — Risk / Return Rank

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

HQGO

HQGO Risk / Return Rank: 51
HQGO Sharpe Ratio Rank: 52
HQGO Sortino Ratio Rank: 50
HQGO Omega Ratio Rank: 49
HQGO Calmar Ratio Rank: 48
HQGO Martin Ratio Rank: 55

PBUS

PBUS Risk / Return Rank: 58
PBUS Sharpe Ratio Rank: 58
PBUS Sortino Ratio Rank: 56
PBUS Omega Ratio Rank: 57
PBUS Calmar Ratio Rank: 56
PBUS Martin Ratio Rank: 66

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.

HQGO vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Quality Growth ETF (HQGO) and Invesco PureBeta MSCI USA ETF (PBUS). 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.

	HQGO	PBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.84	-0.11
Sortino ratio: Return per unit of downside risk	2.37	2.50	-0.13
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	2.31	2.59	-0.28
Martin ratio: Return relative to average drawdown	9.22	11.32	-2.10

HQGO vs. PBUS - Sharpe Ratio Comparison

The current HQGO Sharpe Ratio is 1.73, which is comparable to the PBUS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of HQGO and PBUS, 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

HQGO vs. PBUS - Drawdown Comparison

The maximum HQGO drawdown since its inception was -20.85%, smaller than the maximum PBUS drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for HQGO and PBUS.

Drawdown Indicators

	HQGO	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-20.85%	-33.15%	+12.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-9.02%	-1.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.40%	—
Current Drawdown Current decline from peak	-3.35%	-3.08%	-0.27%
Average Drawdown Average peak-to-trough decline	-2.53%	-5.11%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.06%	+0.54%

Volatility

HQGO vs. PBUS - Volatility Comparison

Hartford US Quality Growth ETF (HQGO) and Invesco PureBeta MSCI USA ETF (PBUS) have volatilities of 5.01% and 5.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HQGO	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	5.01%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	10.10%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.94%	12.77%	+1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	17.16%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	19.34%	-2.26%

HQGO vs. PBUS - Expense Ratio Comparison

HQGO has a 0.34% expense ratio, which is higher than PBUS's 0.04% expense ratio.

Dividends

HQGO vs. PBUS - Dividend Comparison

HQGO's dividend yield for the trailing twelve months is around 0.47%, less than PBUS's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HQGO Hartford US Quality Growth ETF	0.47%	0.51%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBUS Invesco PureBeta MSCI USA ETF	1.04%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%

Frequently Asked Questions

Can I hold both HQGO and PBUS in my portfolio?

With a correlation of 0.96, HQGO and PBUS 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, HQGO or PBUS?

PBUS has higher volatility (5.01%) compared to HQGO (5.01%). In terms of maximum drawdown, HQGO dropped -20.85% vs PBUS's -33.15%.

Which ETF is better, HQGO or PBUS?

On 1-year performance, HQGO leads with 23.94% vs 23.30% for PBUS. On fees, PBUS is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HQGO or PBUS?

Over the 1-year period, HQGO has performed better with a 23.94% return vs 23.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HQGO or PBUS?

PBUS is cheaper with a 0.04% expense ratio, compared with 0.34% for HQGO.

Which ETF pays a higher dividend yield, HQGO or PBUS?

PBUS has the higher dividend yield at 1.04%, compared with 0.47% for HQGO.

What is the main difference between HQGO and PBUS?

HQGO tracks Hartford US Quality Growth Index - Benchmark TR Gross, while PBUS tracks MSCI USA Index. They also come from different issuers: Hartford and Invesco. Their fees differ too: 0.34% for HQGO and 0.04% for PBUS.

Which has better risk-adjusted returns?

PBUS currently has the higher Sharpe Ratio (1.84 vs 1.73), 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.