PSILX vs. GARP

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Spectrum International Equity Fund (PSILX) and iShares MSCI USA Quality GARP ETF (GARP).

PSILX is managed by T. Rowe Price. It was launched on Dec 31, 1996. 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

PSILX vs. GARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Spectrum International Equity Fund (PSILX) and iShares MSCI USA Quality GARP ETF (GARP). The values are adjusted to include any dividend payments, if applicable.

PSILX vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PSILX T. Rowe Price Spectrum International Equity Fund	-3.32%	30.30%	4.28%	13.83%	-18.04%	5.00%	12.19%
GARP iShares MSCI USA Quality GARP ETF	-6.01%	21.49%	37.42%	42.86%	-26.75%	27.99%	26.51%

Returns By Period

In the year-to-date period, PSILX achieves a -3.32% return, which is significantly higher than GARP's -6.01% return.

PSILX

• 1D: -0.18%
• 1M: -12.54%
• YTD: -3.32%
• 6M: 1.15%
• 1Y: 18.04%
• 3Y*: 11.65%
• 5Y*: 4.32%
• 10Y*: 7.11%

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)

PSILX vs. GARP - Expense Ratio Comparison

PSILX has a 0.89% expense ratio, which is higher than GARP's 0.15% expense ratio.

PSILX

T. Rowe Price Spectrum International Equity Fund

GARP

iShares MSCI USA Quality GARP ETF

Return for Risk

PSILX vs. GARP — Risk / Return Rank

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

PSILX

PSILX Risk / Return Rank: 51
PSILX Sharpe Ratio Rank: 60
PSILX Sortino Ratio Rank: 56
PSILX Omega Ratio Rank: 56
PSILX Calmar Ratio Rank: 42
PSILX Martin Ratio Rank: 40

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.

PSILX vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Spectrum International Equity Fund (PSILX) 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.

	PSILX	GARP	Difference
Sharpe ratio Return per unit of total volatility	1.07	1.06	0.00
Sortino ratio Return per unit of downside risk	1.49	1.62	-0.12
Omega ratio Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio Return relative to maximum drawdown	1.08	1.87	-0.80
Martin ratio Return relative to average drawdown	4.19	6.91	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSILX vs. GARP - Sharpe Ratio Comparison

The current PSILX Sharpe Ratio is 1.07, which is comparable to the GARP Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of PSILX 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

	PSILX	GARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.06	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.70	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.71	-0.41

Correlation

The correlation between PSILX and GARP is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PSILX vs. GARP - Dividend Comparison

PSILX's dividend yield for the trailing twelve months is around 5.60%, more than GARP's 0.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSILX T. Rowe Price Spectrum International Equity Fund	5.60%	5.42%	2.04%	1.88%	6.67%	3.49%	0.88%	3.49%	6.69%	0.58%	0.17%	0.08%
GARP iShares MSCI USA Quality GARP ETF	0.32%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PSILX vs. GARP - Drawdown Comparison

The maximum PSILX drawdown since its inception was -61.38%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for PSILX and GARP.

Drawdown Indicators

	PSILX	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-61.38%	-31.34%	-30.04%
Max Drawdown (1Y) Largest decline over 1 year	-12.72%	-13.69%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-33.13%	-30.61%	-2.52%
Max Drawdown (10Y) Largest decline over 10 years	-33.33%	—	—
Current Drawdown Current decline from peak	-12.72%	-10.35%	-2.37%
Average Drawdown Average peak-to-trough decline	-14.14%	-7.53%	-6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.71%	-0.36%

Volatility

PSILX vs. GARP - Volatility Comparison

T. Rowe Price Spectrum International Equity Fund (PSILX) and iShares MSCI USA Quality GARP ETF (GARP) have volatilities of 7.39% 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

	PSILX	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	7.52%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	14.44%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	16.49%	24.39%	-7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	21.86%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.09%	24.02%	-7.93%