INVG vs. QLTY

Last updated Jun 4, 2026

INVG (GMO Systematic Investment Grade Credit ETF) and QLTY (GMO U.S. Quality ETF) are both exchange-traded funds - INVG is a Corporate Bonds fund actively managed by GMO, while QLTY is a Large Cap Blend Equities fund tracking the S&P 500. INVG is actively managed, while QLTY is passively managed. At a 0.43 correlation, their price movements are largely independent. INVG charges 0.25%/yr vs 0.50%/yr for QLTY.

Performance

INVG vs. QLTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Systematic Investment Grade Credit ETF (INVG) and GMO U.S. Quality ETF (QLTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVG achieves a 0.68% return, which is significantly lower than QLTY's 7.36% return.

INVG

• 1D: -0.23%
• 1M: 0.73%
• YTD: 0.68%
• 6M: 0.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLTY

• 1D: -0.51%
• 1M: 3.93%
• YTD: 7.36%
• 6M: 7.76%
• 1Y: 27.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INVG vs. QLTY - Yearly Performance Comparison

	2026 (YTD)	2025
INVG GMO Systematic Investment Grade Credit ETF	0.68%	4.69%
QLTY GMO U.S. Quality ETF	7.36%	18.18%

Correlation

The correlation between INVG and QLTY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.43

Return for Risk

INVG vs. QLTY — Risk / Return Rank

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

QLTY

QLTY Risk / Return Rank: 60
QLTY Sharpe Ratio Rank: 67
QLTY Sortino Ratio Rank: 69
QLTY Omega Ratio Rank: 65
QLTY Calmar Ratio Rank: 47
QLTY Martin Ratio Rank: 55

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.

INVG vs. QLTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and GMO U.S. Quality ETF (QLTY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INVG	QLTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	1.53	-0.29

Drawdowns

INVG vs. QLTY - Drawdown Comparison

The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum QLTY drawdown of -17.00%. Use the drawdown chart below to compare losses from any high point for INVG and QLTY.

Drawdown Indicators

	INVG	QLTY	Difference
Max Drawdown Largest peak-to-trough decline	-3.15%	-17.00%	+13.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.71%	—
Current Drawdown Current decline from peak	-0.88%	-0.72%	-0.16%
Average Drawdown Average peak-to-trough decline	-0.71%	-2.05%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.86%	—

Volatility

Volatility by Period

	INVG	QLTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	12.26%	-7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.42%	14.64%	-10.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.42%	14.64%	-10.22%

INVG vs. QLTY - Expense Ratio Comparison

INVG has a 0.25% expense ratio, which is lower than QLTY's 0.50% expense ratio.

Dividends

INVG vs. QLTY - Dividend Comparison

INVG's dividend yield for the trailing twelve months is around 4.68%, more than QLTY's 0.71% yield.

Position	TTM	2025	2024	2023
INVG GMO Systematic Investment Grade Credit ETF	4.68%	2.81%	0.00%	0.00%
QLTY GMO U.S. Quality ETF	0.71%	0.73%	0.79%	0.15%

Frequently Asked Questions

Can I hold both INVG and QLTY in my portfolio?

INVG and QLTY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INVG or QLTY?

On fees, INVG is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INVG or QLTY?

INVG is cheaper with a 0.25% expense ratio, compared with 0.50% for QLTY.

Which ETF pays a higher dividend yield, INVG or QLTY?

INVG has the higher dividend yield at 4.68%, compared with 0.71% for QLTY.

What is the main difference between INVG and QLTY?

INVG is categorized as Corporate Bonds, while QLTY is Large Cap Blend Equities. Their fees differ too: 0.25% for INVG and 0.50% for QLTY.