ILCG vs. OUSA

Last updated Aug 4, 2026

ILCG (iShares Morningstar Growth ETF) and OUSA (OShares U.S. Quality Dividend ETF) are both exchange-traded funds - ILCG is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Broad Growth Index Gross, while OUSA is a Quality Factor fund tracking the O'Shares US Quality Dividend Index. Both are passively managed. Over the past 10 years, ILCG returned 17.23%/yr vs 10.40%/yr for OUSA. Their 0.71 correlation means they have sometimes moved together and sometimes differently. ILCG charges 0.04%/yr vs 0.48%/yr for OUSA.

Performance

ILCG vs. OUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Growth ETF (ILCG) and OShares U.S. Quality Dividend ETF (OUSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILCG achieves a 9.70% return, which is significantly higher than OUSA's 7.09% return. Over the past 10 years, ILCG has outperformed OUSA with an annualized return of 17.23%, while OUSA has yielded a comparatively lower 10.40% annualized return.

ILCG

• 1D: 1.92%
• 1M: -0.14%
• 6M: 8.78%
• YTD: 9.70%
• 1Y: 16.20%
• 3Y*: 23.09%
• 5Y*: 11.74%
• 10Y*: 17.23%
• ALL TIME*: 11.61%

OUSA

• 1D: 0.53%
• 1M: 2.40%
• 6M: 3.84%
• YTD: 7.09%
• 1Y: 16.21%
• 3Y*: 13.56%
• 5Y*: 8.96%
• 10Y*: 10.40%
• ALL TIME*: 10.73%

*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)
ILCG iShares Morningstar Growth ETF	$5.71M	$6.91M	$9.84M
OUSA OShares U.S. Quality Dividend ETF	$872.37K	$1.31M	$1.44M

ILCG vs. OUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCG iShares Morningstar Growth ETF	9.70%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%
OUSA OShares U.S. Quality Dividend ETF	7.09%	10.23%	17.09%	13.44%	-9.33%	23.75%	6.96%	25.03%	-3.11%	18.81%

Correlation

The correlation between ILCG and OUSA is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015	0.71

Over the past year, the correlation between ILCG and OUSA has dropped to 0.28 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

ILCG vs. OUSA - Sectors Allocation Comparison

Sectors	ILCG	OUSA
Technology	54.1%	23.7%
Industrials	10.9%	11.9%
Communication Services	9.7%	10.3%
Consumer Cyclical	9.2%	13.1%
Healthcare	5.3%	15.1%
Financial Services	4.7%	18.6%
Consumer Defensive	1.6%	7.4%
Real Estate	1.5%	-
Basic Materials	1.4%	-
Utilities	0.9%	-
Energy	0.7%	-

Return for Risk

ILCG vs. OUSA — Risk / Return Rank

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

ILCG

ILCG Risk / Return Rank: 33
ILCG Sharpe Ratio Rank: 35
ILCG Sortino Ratio Rank: 34
ILCG Omega Ratio Rank: 33
ILCG Calmar Ratio Rank: 31
ILCG Martin Ratio Rank: 34

OUSA

OUSA Risk / Return Rank: 62
OUSA Sharpe Ratio Rank: 67
OUSA Sortino Ratio Rank: 72
OUSA Omega Ratio Rank: 65
OUSA Calmar Ratio Rank: 53
OUSA Martin Ratio Rank: 55

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.

ILCG vs. OUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Growth ETF (ILCG) and OShares U.S. Quality Dividend ETF (OUSA). 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.

	ILCG	OUSA	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.59	-0.72
Sortino ratio: Return per unit of downside risk	1.28	2.41	-1.13
Omega ratio: Gain probability vs. loss probability	1.16	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	1.04	1.95	-0.91
Martin ratio: Return relative to average drawdown	3.30	6.80	-3.50

ILCG vs. OUSA - Sharpe Ratio Comparison

The current ILCG Sharpe Ratio is 0.87, which is lower than the OUSA Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of ILCG and OUSA, 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

ILCG vs. OUSA - Drawdown Comparison

The maximum ILCG drawdown since its inception was -52.98%, which is greater than OUSA's maximum drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for ILCG and OUSA.

Drawdown Indicators

	ILCG	OUSA	Difference
Max Drawdown Largest peak-to-trough decline	-52.98%	-33.12%	-19.86%
Max Drawdown (1Y) Largest decline over 1 year	-15.65%	-8.36%	-7.29%
Max Drawdown (3Y) Largest decline over 3 years	-23.10%	-13.14%	-9.96%
Max Drawdown (5Y) Largest decline over 5 years	-35.38%	-19.54%	-15.84%
Max Drawdown (10Y) Largest decline over 10 years	-35.38%	-33.12%	-2.26%
Current Drawdown Current decline from peak	-5.15%	-0.23%	-4.92%
Average Drawdown Average peak-to-trough decline	-8.20%	-3.50%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	2.39%	+2.53%

Volatility

ILCG vs. OUSA - Volatility Comparison

iShares Morningstar Growth ETF (ILCG) has a higher volatility of 6.33% compared to OShares U.S. Quality Dividend ETF (OUSA) at 3.65%. This indicates that ILCG's price experiences larger fluctuations and is considered to be riskier than OUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILCG	OUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	3.65%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	15.61%	8.12%	+7.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.74%	10.25%	+8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.39%	13.38%	+9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.71%	15.19%	+6.52%

ILCG vs. OUSA - Expense Ratio Comparison

ILCG has a 0.04% expense ratio, which is lower than OUSA's 0.48% expense ratio.

Dividends

ILCG vs. OUSA - Dividend Comparison

ILCG's dividend yield for the trailing twelve months is around 0.42%, less than OUSA's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCG iShares Morningstar Growth ETF	0.42%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%
OUSA OShares U.S. Quality Dividend ETF	1.35%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both ILCG and OUSA in my portfolio?

ILCG and OUSA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILCG or OUSA?

ILCG has higher volatility (6.33%) compared to OUSA (3.65%). In terms of maximum drawdown, ILCG dropped -52.98% vs OUSA's -33.12%.

Which ETF is better, ILCG or OUSA?

On 10-year performance, ILCG leads with 17.23% vs 10.40% for OUSA. On fees, ILCG is cheaper at 0.04% per year. On volatility, OUSA has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCG or OUSA?

Over the 10-year period, ILCG has performed better with a 17.23% return vs 10.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCG or OUSA?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.48% for OUSA.

Which ETF pays a higher dividend yield, ILCG or OUSA?

OUSA has the higher dividend yield at 1.35%, compared with 0.42% for ILCG.

What is the main difference between ILCG and OUSA?

ILCG is categorized as Large Cap Growth Equities, while OUSA is Quality Factor. ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross, while OUSA tracks O'Shares US Quality Dividend Index. They also come from different issuers: iShares and O'Shares Investments. Their fees differ too: 0.04% for ILCG and 0.48% for OUSA.

Which has better risk-adjusted returns?

OUSA currently has the higher Sharpe Ratio (1.59 vs 0.87), 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.