QSML vs. GARP

Last updated Aug 4, 2026

QSML (Wisdomtree U.S. Smallcap Quality Growth Fund) and GARP (iShares MSCI USA Quality GARP ETF) are both Quality Factor funds - QSML tracks the WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross while GARP tracks the MSCI USA Quality GARP Select Index. Both are passively managed. Over the past year, QSML returned 31.80% vs 33.89% for GARP. Their 0.65 correlation means they have sometimes moved together and sometimes differently. QSML charges 0.38%/yr vs 0.15%/yr for GARP.

Performance

QSML vs. GARP - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QSML having a 19.46% return and GARP slightly lower at 18.78%.

QSML

• 1D: 1.98%
• 1M: 2.30%
• 6M: 15.89%
• YTD: 19.46%
• 1Y: 31.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.80%

GARP

• 1D: 1.62%
• 1M: 0.39%
• 6M: 15.63%
• YTD: 18.78%
• 1Y: 33.89%
• 3Y*: 30.65%
• 5Y*: 17.57%
• 10Y*: —
• ALL TIME*: 20.34%

*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	$26.43M	$25.59M	$23.01M
QSML Wisdomtree U.S. Smallcap Quality Growth Fund	$17.22K	$17.81K	$19.02K

QSML vs. GARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QSML Wisdomtree U.S. Smallcap Quality Growth Fund	19.46%	5.49%	9.93%
GARP iShares MSCI USA Quality GARP ETF	18.78%	21.49%	30.83%

Correlation

The correlation between QSML and GARP is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	0.65

The correlation between QSML and GARP has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.

QSML vs. GARP - Sectors Allocation Comparison

Sectors	QSML	GARP
Technology	21.4%	54.7%
Consumer Cyclical	18.1%	9.1%
Financial Services	15.6%	7.9%
Industrials	13.8%	6.4%
Healthcare	13.7%	5.4%
Consumer Defensive	7.6%	-
Energy	4.0%	3.0%
Communication Services	2.9%	11.0%
Basic Materials	2.4%	1.1%
Real Estate	0.3%	0.4%
Utilities	0.2%	1.3%

Return for Risk

QSML vs. GARP — Risk / Return Rank

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

QSML

QSML Risk / Return Rank: 75
QSML Sharpe Ratio Rank: 75
QSML Sortino Ratio Rank: 79
QSML Omega Ratio Rank: 70
QSML Calmar Ratio Rank: 78
QSML Martin Ratio Rank: 75

GARP

GARP Risk / Return Rank: 70
GARP Sharpe Ratio Rank: 74
GARP Sortino Ratio Rank: 69
GARP Omega Ratio Rank: 67
GARP Calmar Ratio Rank: 70
GARP Martin Ratio Rank: 72

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.

QSML vs. GARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) 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.

	QSML	GARP	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.70	+0.13
Sortino ratio: Return per unit of downside risk	2.73	2.31	+0.42
Omega ratio: Gain probability vs. loss probability	1.31	1.29	+0.02
Calmar ratio: Return relative to maximum drawdown	2.98	2.49	+0.49
Martin ratio: Return relative to average drawdown	10.05	9.05	+1.00

QSML vs. GARP - Sharpe Ratio Comparison

The current QSML Sharpe Ratio is 1.83, which is comparable to the GARP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of QSML 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

QSML vs. GARP - Drawdown Comparison

The maximum QSML drawdown since its inception was -28.54%, smaller than the maximum GARP drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for QSML and GARP.

Drawdown Indicators

	QSML	GARP	Difference
Max Drawdown Largest peak-to-trough decline	-28.54%	-31.34%	+2.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.72%	-13.69%	+2.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.61%	—
Current Drawdown Current decline from peak	0.00%	-2.79%	+2.79%
Average Drawdown Average peak-to-trough decline	-5.63%	-7.27%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	3.76%	-0.59%

Volatility

QSML vs. GARP - Volatility Comparison

The current volatility for Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) is 4.71%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 5.74%. This indicates that QSML 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

	QSML	GARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	5.74%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	12.38%	16.02%	-3.64%
Volatility (1Y) Calculated over the trailing 1-year period	17.49%	20.01%	-2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.59%	22.36%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	23.92%	-3.33%

QSML vs. GARP - Expense Ratio Comparison

QSML has a 0.38% expense ratio, which is higher than GARP's 0.15% expense ratio.

Dividends

QSML vs. GARP - Dividend Comparison

QSML's dividend yield for the trailing twelve months is around 0.52%, more than GARP's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GARP iShares MSCI USA Quality GARP ETF	0.27%	0.31%	0.38%	0.75%	1.85%	0.67%	0.75%
QSML Wisdomtree U.S. Smallcap Quality Growth Fund	0.52%	0.62%	0.32%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QSML and GARP in my portfolio?

QSML and GARP have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QSML or GARP?

GARP has higher volatility (5.74%) compared to QSML (4.71%). In terms of maximum drawdown, QSML dropped -28.54% vs GARP's -31.34%.

Which ETF is better, QSML or GARP?

On 1-year performance, GARP leads with 33.89% vs 31.80% for QSML. On fees, GARP is cheaper at 0.15% per year. On volatility, QSML has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QSML or GARP?

Over the 1-year period, GARP has performed better with a 33.89% return vs 31.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QSML or GARP?

GARP is cheaper with a 0.15% expense ratio, compared with 0.38% for QSML.

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

QSML has the higher dividend yield at 0.52%, compared with 0.27% for GARP.

What is the main difference between QSML and GARP?

QSML tracks WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross, while GARP tracks MSCI USA Quality GARP Select Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.38% for QSML and 0.15% for GARP.

Which has better risk-adjusted returns?

QSML currently has the higher Sharpe Ratio (1.83 vs 1.70), 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.