INVN vs. SRHQ

Last updated Aug 2, 2026

INVN (Alger Russell Innovation ETF) and SRHQ (SRH U.S. Quality ETF) are both exchange-traded funds - INVN is a Mid Cap Blend Equities fund tracking the Alger Russell Innovation Index, while SRHQ is a Quality Factor fund tracking the SRH US Quality Index - Benchmark TR Gross. Both are passively managed. Over the past year, INVN returned 24.54% vs 31.30% for SRHQ. Their 0.73 correlation means they have sometimes moved together and sometimes differently. INVN charges 0.55%/yr vs 0.35%/yr for SRHQ.

Performance

INVN vs. SRHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Russell Innovation ETF (INVN) and SRH U.S. Quality ETF (SRHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVN achieves a 9.96% return, which is significantly lower than SRHQ's 20.78% return.

INVN

• 1D: -0.50%
• 1M: 7.03%
• 6M: 18.92%
• YTD: 9.96%
• 1Y: 24.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.69%

SRHQ

• 1D: -0.33%
• 1M: 1.86%
• 6M: 18.75%
• YTD: 20.78%
• 1Y: 31.30%
• 3Y*: 17.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.88%

*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)
INVN Alger Russell Innovation ETF	$258.38K	$157.49K	$106.45K
SRHQ SRH U.S. Quality ETF	$113.47K	$63.13K	$30.03K

INVN vs. SRHQ - Yearly Performance Comparison

	2026 (YTD)	2025
INVN Alger Russell Innovation ETF	9.96%	6.56%
SRHQ SRH U.S. Quality ETF	20.78%	6.62%

Correlation

The correlation between INVN and SRHQ is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Jan 7, 2025	0.73

The correlation between INVN and SRHQ has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

Return for Risk

INVN vs. SRHQ — Risk / Return Rank

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

INVN

INVN Risk / Return Rank: 37
INVN Sharpe Ratio Rank: 39
INVN Sortino Ratio Rank: 41
INVN Omega Ratio Rank: 39
INVN Calmar Ratio Rank: 33
INVN Martin Ratio Rank: 31

SRHQ

SRHQ Risk / Return Rank: 87
SRHQ Sharpe Ratio Rank: 84
SRHQ Sortino Ratio Rank: 84
SRHQ Omega Ratio Rank: 80
SRHQ Calmar Ratio Rank: 93
SRHQ Martin Ratio Rank: 93

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.

INVN vs. SRHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Russell Innovation ETF (INVN) and SRH U.S. Quality ETF (SRHQ). 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.

	INVN	SRHQ	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.97	-0.98
Sortino ratio: Return per unit of downside risk	1.52	2.80	-1.28
Omega ratio: Gain probability vs. loss probability	1.18	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	1.14	4.64	-3.50
Martin ratio: Return relative to average drawdown	2.88	16.85	-13.96

INVN vs. SRHQ - Sharpe Ratio Comparison

The current INVN Sharpe Ratio is 0.99, which is lower than the SRHQ Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of INVN and SRHQ, 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

INVN vs. SRHQ - Drawdown Comparison

The maximum INVN drawdown since its inception was -26.01%, which is greater than SRHQ's maximum drawdown of -18.50%. Use the drawdown chart below to compare losses from any high point for INVN and SRHQ.

Drawdown Indicators

	INVN	SRHQ	Difference
Max Drawdown Largest peak-to-trough decline	-26.01%	-18.50%	-7.51%
Max Drawdown (1Y) Largest decline over 1 year	-20.39%	-6.31%	-14.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.50%	—
Current Drawdown Current decline from peak	-2.22%	-1.47%	-0.75%
Average Drawdown Average peak-to-trough decline	-7.36%	-2.98%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.06%	1.74%	+6.32%

Volatility

INVN vs. SRHQ - Volatility Comparison

Alger Russell Innovation ETF (INVN) has a higher volatility of 9.21% compared to SRH U.S. Quality ETF (SRHQ) at 4.37%. This indicates that INVN's price experiences larger fluctuations and is considered to be riskier than SRHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INVN	SRHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.21%	4.37%	+4.84%
Volatility (6M) Calculated over the trailing 6-month period	19.77%	11.10%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	23.55%	14.90%	+8.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.39%	15.96%	+8.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	15.96%	+8.43%

INVN vs. SRHQ - Expense Ratio Comparison

INVN has a 0.55% expense ratio, which is higher than SRHQ's 0.35% expense ratio.

Dividends

INVN vs. SRHQ - Dividend Comparison

INVN's dividend yield for the trailing twelve months is around 0.26%, less than SRHQ's 0.69% yield.

Position	TTM	2025	2024	2023	2022
INVN Alger Russell Innovation ETF	0.26%	0.29%	0.00%	0.00%	0.00%
SRHQ SRH U.S. Quality ETF	0.69%	0.76%	0.66%	0.84%	0.27%

Frequently Asked Questions

Can I hold both INVN and SRHQ in my portfolio?

INVN and SRHQ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INVN or SRHQ?

INVN has higher volatility (9.21%) compared to SRHQ (4.37%). In terms of maximum drawdown, INVN dropped -26.01% vs SRHQ's -18.50%.

Which ETF is better, INVN or SRHQ?

On 1-year performance, SRHQ leads with 31.30% vs 24.54% for INVN. On fees, SRHQ is cheaper at 0.35% per year. On volatility, SRHQ has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INVN or SRHQ?

Over the 1-year period, SRHQ has performed better with a 31.30% return vs 24.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INVN or SRHQ?

SRHQ is cheaper with a 0.35% expense ratio, compared with 0.55% for INVN.

Which ETF pays a higher dividend yield, INVN or SRHQ?

SRHQ has the higher dividend yield at 0.69%, compared with 0.26% for INVN.

What is the main difference between INVN and SRHQ?

INVN is categorized as Mid Cap Blend Equities, while SRHQ is Quality Factor. INVN tracks Alger Russell Innovation Index, while SRHQ tracks SRH US Quality Index - Benchmark TR Gross. They also come from different issuers: Alger and SRH. Their fees differ too: 0.55% for INVN and 0.35% for SRHQ.

Which has better risk-adjusted returns?

SRHQ currently has the higher Sharpe Ratio (1.97 vs 0.99), 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.