INAI.TO vs. GARP
Compare and contrast key facts about Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and iShares MSCI USA Quality GARP ETF (GARP).
INAI.TO and GARP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INAI.TO is a passively managed fund by Invesco that tracks the performance of the Morningstar Global Next Gen AI Index. It was launched on Jan 18, 2024. GARP is a passively managed fund by iShares that tracks the performance of the MSCI USA Quality GARP Select Index. It was launched on Jan 14, 2020. Both INAI.TO and GARP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
INAI.TO vs. GARP - Performance Comparison
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INAI.TO vs. GARP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF | -9.34% | 30.39% | 50.13% |
GARP iShares MSCI USA Quality GARP ETF | -4.74% | 15.92% | 43.32% |
Different Trading Currencies
INAI.TO is traded in CAD, while GARP is traded in USD. To make them comparable, the GARP values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, INAI.TO achieves a -9.34% return, which is significantly lower than GARP's -4.74% return.
INAI.TO
- 1D
- 1.87%
- 1M
- -7.50%
- YTD
- -9.34%
- 6M
- -9.72%
- 1Y
- 33.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GARP
- 1D
- 3.75%
- 1M
- -3.95%
- YTD
- -4.74%
- 6M
- -2.48%
- 1Y
- 21.60%
- 3Y*
- 26.42%
- 5Y*
- 17.57%
- 10Y*
- —
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INAI.TO vs. GARP - Expense Ratio Comparison
INAI.TO has a 0.60% expense ratio, which is higher than GARP's 0.15% expense ratio.
Return for Risk
INAI.TO vs. GARP — Risk / Return Rank
INAI.TO
GARP
INAI.TO vs. GARP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and iShares MSCI USA Quality GARP ETF (GARP). 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.
| INAI.TO | GARP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 0.90 | +0.28 |
Sortino ratioReturn per unit of downside risk | 1.65 | 1.38 | +0.28 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.71 | -0.39 |
Martin ratioReturn relative to average drawdown | 3.80 | 5.68 | -1.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INAI.TO | GARP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.90 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.82 | +0.29 |
Correlation
The correlation between INAI.TO and GARP is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
INAI.TO vs. GARP - Dividend Comparison
INAI.TO's dividend yield for the trailing twelve months is around 0.05%, less than GARP's 0.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF | 0.05% | 0.07% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% |
GARP iShares MSCI USA Quality GARP ETF | 0.32% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% |
Drawdowns
INAI.TO vs. GARP - Drawdown Comparison
The maximum INAI.TO drawdown since its inception was -26.78%, smaller than the maximum GARP drawdown of -29.73%. Use the drawdown chart below to compare losses from any high point for INAI.TO and GARP.
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Drawdown Indicators
| INAI.TO | GARP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.78% | -31.34% | +4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -22.07% | -13.69% | -8.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.61% | — |
Current DrawdownCurrent decline from peak | -20.61% | -10.35% | -10.26% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -7.53% | +2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.65% | 3.71% | +3.94% |
Volatility
INAI.TO vs. GARP - Volatility Comparison
Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) has a higher volatility of 8.38% compared to iShares MSCI USA Quality GARP ETF (GARP) at 7.40%. This indicates that INAI.TO's price experiences larger fluctuations and is considered to be riskier than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INAI.TO | GARP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 7.40% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 19.12% | 14.19% | +4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.26% | 23.97% | +4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.03% | 20.24% | +6.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.03% | 22.28% | +4.75% |