QSML vs. GRPZ

Last updated Jul 17, 2026

QSML (Wisdomtree U.S. Smallcap Quality Growth Fund) and GRPZ (Invesco S&P Smallcap 600 GARP ETF) are both Small Cap Growth Equities funds - QSML tracks the WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross while GRPZ tracks the S&P SmallCap 600 GARP Index. Both are passively managed. Over the past year, QSML returned 28.32% vs 30.97% for GRPZ. Their correlation of 0.93 suggests significant overlap in exposure. QSML charges 0.38%/yr vs 0.35%/yr for GRPZ.

Performance

QSML vs. GRPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QSML achieves a 17.92% return, which is significantly lower than GRPZ's 23.85% return.

QSML

• 1D: 0.80%
• 1M: 6.09%
• 6M: 12.22%
• YTD: 17.92%
• 1Y: 28.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRPZ

• 1D: 0.92%
• 1M: 7.28%
• 6M: 16.11%
• YTD: 23.85%
• 1Y: 30.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QSML vs. GRPZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QSML Wisdomtree U.S. Smallcap Quality Growth Fund	17.92%	5.49%	7.76%
GRPZ Invesco S&P Smallcap 600 GARP ETF	23.85%	3.09%	4.27%

Correlation

The correlation between QSML and GRPZ is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024	0.93

The correlation between QSML and GRPZ has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

QSML vs. GRPZ - Sectors Allocation Comparison

Sectors	QSML	GRPZ
Technology	20.1%	7.6%
Industrials	17.7%	16.1%
Consumer Cyclical	15.9%	11.8%
Financial Services	13.8%	28.3%
Healthcare	9.4%	15.8%
Energy	8.6%	12.2%
Consumer Defensive	7.0%	5.3%
Communication Services	3.8%	0.8%
Basic Materials	3.1%	2.3%
Real Estate	0.3%	-
Utilities	0.3%	-

Return for Risk

QSML vs. GRPZ — Risk / Return Rank

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

QSML

QSML Risk / Return Rank: 63
QSML Sharpe Ratio Rank: 61
QSML Sortino Ratio Rank: 67
QSML Omega Ratio Rank: 56
QSML Calmar Ratio Rank: 66
QSML Martin Ratio Rank: 63

GRPZ

GRPZ Risk / Return Rank: 70
GRPZ Sharpe Ratio Rank: 69
GRPZ Sortino Ratio Rank: 75
GRPZ Omega Ratio Rank: 62
GRPZ Calmar Ratio Rank: 79
GRPZ Martin Ratio Rank: 66

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.

QSML vs. GRPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). 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	GRPZ	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.77	-0.14
Sortino ratio: Return per unit of downside risk	2.45	2.70	-0.26
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.65	3.27	-0.61
Martin ratio: Return relative to average drawdown	8.88	9.39	-0.50

QSML vs. GRPZ - Sharpe Ratio Comparison

The current QSML Sharpe Ratio is 1.63, which is comparable to the GRPZ Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of QSML and GRPZ, 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. GRPZ - Drawdown Comparison

The maximum QSML drawdown since its inception was -28.54%, roughly equal to the maximum GRPZ drawdown of -27.87%. Use the drawdown chart below to compare losses from any high point for QSML and GRPZ.

Drawdown Indicators

	QSML	GRPZ	Difference
Max Drawdown Largest peak-to-trough decline	-28.54%	-27.87%	-0.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.72%	-9.53%	-1.19%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.71%	-6.68%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	3.31%	-0.11%

Volatility

QSML vs. GRPZ - Volatility Comparison

Wisdomtree U.S. Smallcap Quality Growth Fund (QSML) has a higher volatility of 4.18% compared to Invesco S&P Smallcap 600 GARP ETF (GRPZ) at 3.78%. This indicates that QSML's price experiences larger fluctuations and is considered to be riskier than GRPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QSML	GRPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	3.78%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	12.18%	11.77%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.44%	17.53%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	20.87%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	20.87%	-0.23%

QSML vs. GRPZ - Expense Ratio Comparison

QSML has a 0.38% expense ratio, which is higher than GRPZ's 0.35% expense ratio.

Dividends

QSML vs. GRPZ - Dividend Comparison

QSML's dividend yield for the trailing twelve months is around 0.53%, less than GRPZ's 0.87% yield.

Position	TTM	2025	2024
GRPZ Invesco S&P Smallcap 600 GARP ETF	0.87%	0.97%	0.73%
QSML Wisdomtree U.S. Smallcap Quality Growth Fund	0.53%	0.62%	0.32%

Frequently Asked Questions

Can I hold both QSML and GRPZ in my portfolio?

With a correlation of 0.92, QSML and GRPZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QSML or GRPZ?

QSML has higher volatility (4.18%) compared to GRPZ (3.78%). In terms of maximum drawdown, QSML dropped -28.54% vs GRPZ's -27.87%.

Which ETF is better, QSML or GRPZ?

On 1-year performance, GRPZ leads with 30.97% vs 28.32% for QSML. On fees, GRPZ is cheaper at 0.35% per year. On volatility, GRPZ has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QSML or GRPZ?

Over the 1-year period, GRPZ has performed better with a 30.97% return vs 28.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QSML or GRPZ?

GRPZ is cheaper with a 0.35% expense ratio, compared with 0.38% for QSML.

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

GRPZ has the higher dividend yield at 0.87%, compared with 0.53% for QSML.

What is the main difference between QSML and GRPZ?

QSML tracks WisdomTree US SmallCap Quality Growth Index - Benchmark TR Gross, while GRPZ tracks S&P SmallCap 600 GARP Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.38% for QSML and 0.35% for GRPZ.

Which has better risk-adjusted returns?

GRPZ currently has the higher Sharpe Ratio (1.77 vs 1.63), 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.