LRGF vs. GARP

Last updated Jun 3, 2026

LRGF (iShares MSCI USA Multifactor ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both exchange-traded funds - LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor, while GARP is a Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index. Both are passively managed. Over the past 5 years, LRGF returned 14.20%/yr vs 20.74%/yr for GARP. Their correlation of 0.87 suggests significant overlap in exposure. LRGF charges 0.20%/yr vs 0.15%/yr for GARP.

Performance

LRGF vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Multifactor ETF (LRGF) 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, LRGF achieves a 11.29% return, which is significantly lower than GARP's 22.17% return.

LRGF

• 1D: 0.18%
• 1M: 6.67%
• YTD: 11.29%
• 6M: 11.73%
• 1Y: 26.79%
• 3Y*: 23.10%
• 5Y*: 14.20%
• 10Y*: 14.11%

GARP

• 1D: -0.01%
• 1M: 12.94%
• YTD: 22.17%
• 6M: 23.18%
• 1Y: 46.14%
• 3Y*: 33.92%
• 5Y*: 20.74%
• 10Y*: —

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

LRGF vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LRGF iShares MSCI USA Multifactor ETF	11.29%	16.48%	26.59%	25.85%	-14.77%	25.01%	9.28%
GARP iShares MSCI USA Quality GARP ETF	22.17%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%

Correlation

The correlation between LRGF and GARP is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 17, 2020	0.87

The correlation between LRGF and GARP has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

LRGF vs. GARP - Sectors Allocation Comparison

Sectors	LRGF	GARP
Technology	35.6%	56.7%
Financial Services	12.5%	7.5%
Consumer Cyclical	11.2%	6.1%
Healthcare	9.1%	5.4%
Communication Services	8.2%	12.0%
Industrials	8.1%	6.9%
Consumer Defensive	6.0%	-
Energy	3.7%	2.7%
Utilities	2.3%	1.4%
Basic Materials	2.0%	0.9%
Real Estate	1.3%	0.4%

Return for Risk

LRGF vs. GARP — Risk / Return Rank

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

LRGF

LRGF Risk / Return Rank: 65
LRGF Sharpe Ratio Rank: 67
LRGF Sortino Ratio Rank: 65
LRGF Omega Ratio Rank: 65
LRGF Calmar Ratio Rank: 61
LRGF Martin Ratio Rank: 68

GARP

GARP Risk / Return Rank: 72
GARP Sharpe Ratio Rank: 79
GARP Sortino Ratio Rank: 72
GARP Omega Ratio Rank: 71
GARP Calmar Ratio Rank: 68
GARP Martin Ratio Rank: 72

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.

LRGF vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Multifactor ETF (LRGF) 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.

	LRGF	GARP	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.59	-0.36
Sortino ratio Return per unit of downside risk	3.06	3.33	-0.27
Omega ratio Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio Return relative to maximum drawdown	3.08	3.41	-0.33
Martin ratio Return relative to average drawdown	12.80	13.74	-0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LRGF vs. GARP - Sharpe Ratio Comparison

The current LRGF Sharpe Ratio is 2.24, which is comparable to the GARP Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of LRGF 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.

Sharpe Ratios by Period

	LRGF	GARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.59	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.95	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.90	-0.20

Drawdowns

LRGF vs. GARP - Drawdown Comparison

The maximum LRGF drawdown since its inception was -36.03%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for LRGF and GARP.

Drawdown Indicators

	LRGF	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-36.03%	-31.34%	-4.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-13.69%	+4.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-23.73%	+4.29%
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	-30.61%	+8.99%
Max Drawdown (10Y) Largest decline over 10 years	-36.03%	—	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-4.54%	-7.37%	+2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	3.40%	-1.26%

Volatility

LRGF vs. GARP - Volatility Comparison

The current volatility for iShares MSCI USA Multifactor ETF (LRGF) is 2.79%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 4.87%. This indicates that LRGF experiences smaller price fluctuations and is considered to be less risky than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LRGF	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	4.87%	-2.08%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	13.88%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	17.87%	-5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	21.97%	-4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	23.90%	-5.59%

LRGF vs. GARP - Expense Ratio Comparison

LRGF has a 0.20% expense ratio, which is higher than GARP's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LRGF vs. GARP - Dividend Comparison

LRGF's dividend yield for the trailing twelve months is around 1.05%, more than GARP's 0.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GARP iShares MSCI USA Quality GARP ETF	0.25%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%
LRGF iShares MSCI USA Multifactor ETF	1.05%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%

Frequently Asked Questions

Can I hold both LRGF and GARP in my portfolio?

With a correlation of 0.93, LRGF 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, LRGF or GARP?

GARP has higher volatility (4.87%) compared to LRGF (2.79%). In terms of maximum drawdown, LRGF dropped -36.03% vs GARP's -31.34%.

Which ETF is better, LRGF or GARP?

On 5-year performance, GARP leads with 20.74% vs 14.20% for LRGF. On fees, GARP is cheaper at 0.15% per year. On volatility, LRGF has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LRGF or GARP?

Over the 5-year period, GARP has performed better with a 20.74% return vs 14.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRGF or GARP?

GARP is cheaper with a 0.15% expense ratio, compared with 0.20% for LRGF.

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

LRGF has the higher dividend yield at 1.05%, compared with 0.25% for GARP.

What is the main difference between LRGF and GARP?

LRGF is categorized as Large Cap Blend Equities, while GARP is Large Cap Growth Equities. LRGF tracks MSCI USA Diversified Multi-Factor, while GARP tracks MSCI USA Quality GARP Select Index. Their fees differ too: 0.20% for LRGF and 0.15% for GARP.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (2.59 vs 2.24), 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.