IUSG vs. GARP

Last updated Aug 4, 2026

IUSG (iShares Core S&P U.S. Growth ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both exchange-traded funds - IUSG is a Large Cap Growth Equities fund tracking the S&P 900 Growth Index, while GARP is a Quality Factor fund tracking the MSCI USA Quality GARP Select Index. Both are passively managed. Over the past 5 years, IUSG returned 13.30%/yr vs 17.57%/yr for GARP. Their correlation of 0.93 means they have usually moved in the same direction. IUSG charges 0.04%/yr vs 0.15%/yr for GARP.

Performance

IUSG vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Growth ETF (IUSG) and iShares MSCI USA Quality GARP ETF (GARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSG achieves a 12.72% return, which is significantly lower than GARP's 18.78% return.

IUSG

• 1D: 2.17%
• 1M: 1.92%
• 6M: 11.50%
• YTD: 12.72%
• 1Y: 24.41%
• 3Y*: 25.35%
• 5Y*: 13.30%
• 10Y*: 17.20%
• ALL TIME*: 8.19%

GARP

• 1D: 1.62%
• 1M: 0.39%
• 6M: 15.63%
• YTD: 18.78%
• 1Y: 33.89%
• 3Y*: 30.65%
• 5Y*: 17.57%
• 10Y*: —
• ALL TIME*: 20.34%

*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)
GARP iShares MSCI USA Quality GARP ETF	$26.43M	$25.59M	$23.01M
IUSG iShares Core S&P U.S. Growth ETF	$105.73M	$92.27M	$99.82M

IUSG vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IUSG iShares Core S&P U.S. Growth ETF	12.72%	21.23%	34.70%	29.28%	-28.81%	31.26%	28.65%
GARP iShares MSCI USA Quality GARP ETF	18.78%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%

Correlation

The correlation between IUSG and GARP is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020	0.93

The correlation between IUSG and GARP has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

IUSG vs. GARP - Sectors Allocation Comparison

Sectors	IUSG	GARP
Technology	50.9%	54.7%
Communication Services	14.9%	11.0%
Financial Services	8.6%	7.9%
Consumer Cyclical	8.5%	9.1%
Industrials	7.7%	6.4%
Healthcare	6.5%	5.4%
Consumer Defensive	1.0%	-
Real Estate	0.8%	0.4%
Basic Materials	0.5%	1.1%
Utilities	0.4%	1.3%
Energy	0.2%	3.0%

Return for Risk

IUSG vs. GARP — Risk / Return Rank

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

IUSG

IUSG Risk / Return Rank: 54
IUSG Sharpe Ratio Rank: 57
IUSG Sortino Ratio Rank: 55
IUSG Omega Ratio Rank: 52
IUSG Calmar Ratio Rank: 52
IUSG Martin Ratio Rank: 57

GARP

GARP Risk / Return Rank: 70
GARP Sharpe Ratio Rank: 74
GARP Sortino Ratio Rank: 69
GARP Omega Ratio Rank: 67
GARP Calmar Ratio Rank: 70
GARP Martin Ratio Rank: 72

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.

IUSG vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Growth ETF (IUSG) 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.

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.

	IUSG	GARP	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.70	-0.33
Sortino ratio: Return per unit of downside risk	1.95	2.31	-0.36
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.88	2.49	-0.61
Martin ratio: Return relative to average drawdown	6.96	9.05	-2.09

IUSG vs. GARP - Sharpe Ratio Comparison

The current IUSG Sharpe Ratio is 1.38, which is comparable to the GARP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of IUSG and GARP, 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

IUSG vs. GARP - Drawdown Comparison

The maximum IUSG drawdown since its inception was -63.41%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for IUSG and GARP.

Drawdown Indicators

	IUSG	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-63.41%	-31.34%	-32.07%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-13.69%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-22.28%	-23.73%	+1.45%
Max Drawdown (5Y) Largest decline over 5 years	-32.21%	-30.61%	-1.60%
Max Drawdown (10Y) Largest decline over 10 years	-32.35%	—	—
Current Drawdown Current decline from peak	-2.17%	-2.79%	+0.62%
Average Drawdown Average peak-to-trough decline	-21.33%	-7.27%	-14.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	3.76%	-0.24%

Volatility

IUSG vs. GARP - Volatility Comparison

iShares Core S&P U.S. Growth ETF (IUSG) has a higher volatility of 6.24% compared to iShares MSCI USA Quality GARP ETF (GARP) at 5.74%. This indicates that IUSG'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.

Volatility by Period

	IUSG	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.24%	5.74%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	16.02%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	20.01%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.22%	22.36%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	23.92%	-3.37%

IUSG vs. GARP - Expense Ratio Comparison

IUSG has a 0.04% expense ratio, which is lower than GARP's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUSG vs. GARP - Dividend Comparison

IUSG's dividend yield for the trailing twelve months is around 0.49%, more than GARP's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%
IUSG iShares Core S&P U.S. Growth ETF	0.49%	0.53%	0.59%	1.12%	1.07%	0.59%	0.93%	1.64%	1.32%	1.28%	1.48%	1.29%

Frequently Asked Questions

Can I hold both IUSG and GARP in my portfolio?

With a correlation of 0.94, IUSG and GARP 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, IUSG or GARP?

IUSG has higher volatility (6.24%) compared to GARP (5.74%). In terms of maximum drawdown, IUSG dropped -63.41% vs GARP's -31.34%.

Which ETF is better, IUSG or GARP?

On 5-year performance, GARP leads with 17.57% vs 13.30% for IUSG. On fees, IUSG is cheaper at 0.04% per year. On volatility, GARP has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUSG or GARP?

Over the 5-year period, GARP has performed better with a 17.57% return vs 13.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUSG or GARP?

IUSG is cheaper with a 0.04% expense ratio, compared with 0.15% for GARP.

Which ETF pays a higher dividend yield, IUSG or GARP?

IUSG has the higher dividend yield at 0.49%, compared with 0.27% for GARP.

What is the main difference between IUSG and GARP?

IUSG is categorized as Large Cap Growth Equities, while GARP is Quality Factor. IUSG tracks S&P 900 Growth Index, while GARP tracks MSCI USA Quality GARP Select Index. Their fees differ too: 0.04% for IUSG and 0.15% for GARP.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (1.70 vs 1.38), 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.