NUGO vs. GARP

Last updated Apr 1, 2026

Compare and contrast key facts about Nuveen Growth Opportunities ETF (NUGO) and iShares MSCI USA Quality GARP ETF (GARP).

NUGO and GARP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NUGO is an actively managed fund by Nuveen. It was launched on Sep 27, 2021. 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.

Performance

NUGO vs. GARP - Performance Comparison

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

NUGO vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NUGO Nuveen Growth Opportunities ETF	-9.53%	14.91%	35.95%	45.37%	-32.73%	7.78%
GARP iShares MSCI USA Quality GARP ETF	-6.01%	21.49%	37.42%	42.86%	-26.75%	11.16%

Returns By Period

In the year-to-date period, NUGO achieves a -9.53% return, which is significantly lower than GARP's -6.01% return.

NUGO

• 1D: 4.41%
• 1M: -4.94%
• YTD: -9.53%
• 6M: -8.50%
• 1Y: 17.78%
• 3Y*: 21.81%
• 5Y*: —
• 10Y*: —

GARP

• 1D: 3.86%
• 1M: -5.81%
• YTD: -6.01%
• 6M: -2.39%
• 1Y: 25.79%
• 3Y*: 25.22%
• 5Y*: 15.18%
• 10Y*: —

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

NUGO vs. GARP - Expense Ratio Comparison

NUGO has a 0.56% expense ratio, which is higher than GARP's 0.15% expense ratio.

NUGO

Nuveen Growth Opportunities ETF

GARP

iShares MSCI USA Quality GARP ETF

Return for Risk

NUGO vs. GARP — Risk / Return Rank

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

NUGO

NUGO Risk / Return Rank: 41
NUGO Sharpe Ratio Rank: 41
NUGO Sortino Ratio Rank: 44
NUGO Omega Ratio Rank: 42
NUGO Calmar Ratio Rank: 40
NUGO Martin Ratio Rank: 37

GARP

GARP Risk / Return Rank: 69
GARP Sharpe Ratio Rank: 64
GARP Sortino Ratio Rank: 67
GARP Omega Ratio Rank: 66
GARP Calmar Ratio Rank: 76
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.

NUGO vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Growth Opportunities ETF (NUGO) 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.

	NUGO	GARP	Difference
Sharpe ratio Return per unit of total volatility	0.75	1.06	-0.31
Sortino ratio Return per unit of downside risk	1.22	1.62	-0.40
Omega ratio Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio Return relative to maximum drawdown	1.04	1.87	-0.84
Martin ratio Return relative to average drawdown	3.43	6.91	-3.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUGO vs. GARP - Sharpe Ratio Comparison

The current NUGO Sharpe Ratio is 0.75, which is comparable to the GARP Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of NUGO and GARP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NUGO	GARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	1.06	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.71	-0.32

Correlation

The correlation between NUGO and GARP is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NUGO vs. GARP - Dividend Comparison

NUGO has not paid dividends to shareholders, while GARP's dividend yield for the trailing twelve months is around 0.32%.

	TTM	2025	2024	2023	2022	2021	2020
NUGO Nuveen Growth Opportunities ETF	0.00%	0.00%	0.00%	0.19%	0.26%	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

NUGO vs. GARP - Drawdown Comparison

The maximum NUGO drawdown since its inception was -38.01%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for NUGO and GARP.

Drawdown Indicators

	NUGO	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-38.01%	-31.34%	-6.67%
Max Drawdown (1Y) Largest decline over 1 year	-17.54%	-13.69%	-3.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.61%	—
Current Drawdown Current decline from peak	-13.90%	-10.35%	-3.55%
Average Drawdown Average peak-to-trough decline	-12.41%	-7.53%	-4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	3.71%	+1.59%

Volatility

NUGO vs. GARP - Volatility Comparison

Nuveen Growth Opportunities ETF (NUGO) and iShares MSCI USA Quality GARP ETF (GARP) have volatilities of 7.72% and 7.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUGO	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	7.52%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	14.44%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	23.89%	24.39%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.34%	21.86%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.34%	24.02%	-0.68%