QLC vs. GARP
Compare and contrast key facts about FlexShares US Quality Large Cap Index Fund (QLC) and iShares MSCI USA Quality GARP ETF (GARP).
QLC and GARP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLC is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Quality Large Cap Index. It was launched on Sep 24, 2015. 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. Both QLC and GARP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QLC vs. GARP - Performance Comparison
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QLC vs. GARP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QLC FlexShares US Quality Large Cap Index Fund | -3.32% | 23.26% | 26.71% | 26.02% | -17.21% | 28.46% | 11.01% |
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, QLC achieves a -3.32% return, which is significantly higher than GARP's -6.01% return.
QLC
- 1D
- 2.88%
- 1M
- -4.70%
- YTD
- -3.32%
- 6M
- 0.78%
- 1Y
- 23.78%
- 3Y*
- 21.17%
- 5Y*
- 13.53%
- 10Y*
- 13.29%
GARP
- 1D
- 3.86%
- 1M
- -5.81%
- YTD
- -6.01%
- 6M
- -2.39%
- 1Y
- 25.79%
- 3Y*
- 25.22%
- 5Y*
- 15.18%
- 10Y*
- —
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QLC vs. GARP - Expense Ratio Comparison
QLC has a 0.32% expense ratio, which is higher than GARP's 0.15% expense ratio.
Return for Risk
QLC vs. GARP — Risk / Return Rank
QLC
GARP
QLC vs. GARP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Large Cap Index Fund (QLC) 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.
| QLC | GARP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 1.06 | +0.24 |
Sortino ratioReturn per unit of downside risk | 1.91 | 1.62 | +0.29 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.23 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.87 | +0.18 |
Martin ratioReturn relative to average drawdown | 9.71 | 6.91 | +2.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QLC | GARP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.06 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.70 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.71 | +0.01 |
Correlation
The correlation between QLC and GARP is 0.88, 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
QLC vs. GARP - Dividend Comparison
QLC's dividend yield for the trailing twelve months is around 1.01%, more than GARP's 0.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLC FlexShares US Quality Large Cap Index Fund | 1.01% | 0.94% | 1.03% | 1.26% | 1.46% | 0.96% | 1.40% | 1.91% | 1.82% | 1.29% | 1.80% | 0.64% |
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
QLC vs. GARP - Drawdown Comparison
The maximum QLC drawdown since its inception was -35.86%, which is greater than GARP's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for QLC and GARP.
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Drawdown Indicators
| QLC | GARP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.86% | -31.34% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -13.69% | +1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -23.81% | -30.61% | +6.80% |
Max Drawdown (10Y)Largest decline over 10 years | -35.86% | — | — |
Current DrawdownCurrent decline from peak | -6.22% | -10.35% | +4.13% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -7.53% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 3.71% | -1.19% |
Volatility
QLC vs. GARP - Volatility Comparison
The current volatility for FlexShares US Quality Large Cap Index Fund (QLC) is 5.11%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 7.52%. This indicates that QLC 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.
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Volatility by Period
| QLC | GARP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 7.52% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 14.44% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 24.39% | -6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 21.86% | -5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 24.02% | -5.63% |