OUSA vs. GARP

Last updated Aug 2, 2026

OUSA (OShares U.S. Quality Dividend ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both Quality Factor funds - OUSA tracks the O'Shares US Quality Dividend Index while GARP tracks the MSCI USA Quality GARP Select Index. Both are passively managed. Over the past 5 years, OUSA returned 8.87%/yr vs 17.48%/yr for GARP. Their 0.68 correlation means they have sometimes moved together and sometimes differently. OUSA charges 0.48%/yr vs 0.15%/yr for GARP.

Performance

OUSA vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Quality Dividend ETF (OUSA) 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, OUSA achieves a 6.53% return, which is significantly lower than GARP's 16.89% return.

OUSA

• 1D: 0.11%
• 1M: 1.87%
• 6M: 4.63%
• YTD: 6.53%
• 1Y: 15.60%
• 3Y*: 12.64%
• 5Y*: 8.87%
• 10Y*: 10.36%
• ALL TIME*: 10.68%

GARP

• 1D: 0.66%
• 1M: -1.22%
• 6M: 14.45%
• YTD: 16.89%
• 1Y: 31.75%
• 3Y*: 28.85%
• 5Y*: 17.48%
• 10Y*: —
• ALL TIME*: 20.07%

*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	$25.65M	$25.43M	$23.00M
OUSA OShares U.S. Quality Dividend ETF	$914.72K	$1.31M	$1.45M

OUSA vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OUSA OShares U.S. Quality Dividend ETF	6.53%	10.23%	17.09%	13.44%	-9.33%	23.75%	5.49%
GARP iShares MSCI USA Quality GARP ETF	16.89%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%

Correlation

The correlation between OUSA and GARP is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.56
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020	0.68

Over the past year, the correlation between OUSA and GARP has dropped to 0.33 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

OUSA vs. GARP - Sectors Allocation Comparison

Sectors	OUSA	GARP
Technology	23.7%	54.7%
Financial Services	18.6%	7.9%
Healthcare	15.1%	5.4%
Consumer Cyclical	13.1%	9.1%
Industrials	11.9%	6.4%
Communication Services	10.3%	11.0%
Consumer Defensive	7.4%	-
Basic Materials	-	1.1%
Energy	-	3.0%
Real Estate	-	0.4%
Utilities	-	1.3%

Return for Risk

OUSA vs. GARP — Risk / Return Rank

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

OUSA

OUSA Risk / Return Rank: 59
OUSA Sharpe Ratio Rank: 63
OUSA Sortino Ratio Rank: 68
OUSA Omega Ratio Rank: 60
OUSA Calmar Ratio Rank: 50
OUSA Martin Ratio Rank: 53

GARP

GARP Risk / Return Rank: 64
GARP Sharpe Ratio Rank: 66
GARP Sortino Ratio Rank: 62
GARP Omega Ratio Rank: 60
GARP Calmar Ratio Rank: 63
GARP Martin Ratio Rank: 66

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.

OUSA vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Quality Dividend ETF (OUSA) 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.

	OUSA	GARP	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.50	-0.05
Sortino ratio: Return per unit of downside risk	2.22	2.08	+0.14
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	1.78	2.19	-0.41
Martin ratio: Return relative to average drawdown	6.23	7.99	-1.76

OUSA vs. GARP - Sharpe Ratio Comparison

The current OUSA Sharpe Ratio is 1.46, which is comparable to the GARP Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of OUSA 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

OUSA vs. GARP - Drawdown Comparison

The maximum OUSA drawdown since its inception was -33.12%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for OUSA and GARP.

Drawdown Indicators

	OUSA	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-33.12%	-31.34%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-13.69%	+5.33%
Max Drawdown (3Y) Largest decline over 3 years	-13.14%	-23.73%	+10.59%
Max Drawdown (5Y) Largest decline over 5 years	-19.54%	-30.61%	+11.07%
Max Drawdown (10Y) Largest decline over 10 years	-33.12%	—	—
Current Drawdown Current decline from peak	-0.75%	-4.34%	+3.59%
Average Drawdown Average peak-to-trough decline	-3.50%	-7.27%	+3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	3.75%	-1.36%

Volatility

OUSA vs. GARP - Volatility Comparison

The current volatility for OShares U.S. Quality Dividend ETF (OUSA) is 4.00%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 5.68%. This indicates that OUSA 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

	OUSA	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	5.68%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	16.18%	-8.07%
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	20.02%	-9.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.38%	22.34%	-8.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	23.92%	-8.73%

OUSA vs. GARP - Expense Ratio Comparison

OUSA has a 0.48% expense ratio, which is higher than GARP's 0.15% expense ratio.

Dividends

OUSA vs. GARP - Dividend Comparison

OUSA's dividend yield for the trailing twelve months is around 1.36%, 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%
OUSA OShares U.S. Quality Dividend ETF	1.36%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both OUSA and GARP in my portfolio?

OUSA and GARP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUSA or GARP?

GARP has higher volatility (5.68%) compared to OUSA (4.00%). In terms of maximum drawdown, OUSA dropped -33.12% vs GARP's -31.34%.

Which ETF is better, OUSA or GARP?

On 5-year performance, GARP leads with 17.48% vs 8.87% for OUSA. On fees, GARP is cheaper at 0.15% per year. On volatility, OUSA has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUSA or GARP?

Over the 5-year period, GARP has performed better with a 17.48% return vs 8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUSA or GARP?

GARP is cheaper with a 0.15% expense ratio, compared with 0.48% for OUSA.

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

OUSA has the higher dividend yield at 1.36%, compared with 0.27% for GARP.

What is the main difference between OUSA and GARP?

OUSA tracks O'Shares US Quality Dividend Index, while GARP tracks MSCI USA Quality GARP Select Index. They also come from different issuers: O'Shares Investments and iShares. Their fees differ too: 0.48% for OUSA and 0.15% for GARP.

Which has better risk-adjusted returns?

GARP currently has the higher Sharpe Ratio (1.50 vs 1.46), 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.