RONB vs. GQGU

Last updated Jun 4, 2026

RONB (Baron First Principles ETF) and GQGU (GQG US Equity ETF) are both Large Cap Growth Equities funds. Both are actively managed. At a correlation of -0.13, they often move in opposite directions. RONB charges 1.00%/yr vs 0.49%/yr for GQGU.

Performance

RONB vs. GQGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron First Principles ETF (RONB) and GQG US Equity ETF (GQGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RONB achieves a -3.75% return, which is significantly lower than GQGU's 6.60% return.

RONB

• 1D: -1.11%
• 1M: 4.33%
• YTD: -3.75%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GQGU

• 1D: -1.06%
• 1M: -1.65%
• YTD: 6.60%
• 6M: 7.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RONB vs. GQGU - Yearly Performance Comparison

	2026 (YTD)	2025
RONB Baron First Principles ETF	-3.75%	-0.33%
GQGU GQG US Equity ETF	6.60%	-0.51%

Correlation

The correlation between RONB and GQGU is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	-0.13

Return for Risk

RONB vs. GQGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron First Principles ETF (RONB) and GQG US Equity ETF (GQGU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RONB	GQGU	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.60	-1.11

Drawdowns

RONB vs. GQGU - Drawdown Comparison

The maximum RONB drawdown since its inception was -13.08%, which is greater than GQGU's maximum drawdown of -6.65%. Use the drawdown chart below to compare losses from any high point for RONB and GQGU.

Drawdown Indicators

	RONB	GQGU	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-6.65%	-6.43%
Current Drawdown Current decline from peak	-5.80%	-4.66%	-1.14%
Average Drawdown Average peak-to-trough decline	-6.33%	-2.54%	-3.79%

Volatility

Volatility by Period

	RONB	GQGU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.85%	10.14%	+6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	10.14%	+6.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	10.14%	+6.71%

RONB vs. GQGU - Expense Ratio Comparison

RONB has a 1.00% expense ratio, which is higher than GQGU's 0.49% expense ratio.

Dividends

RONB vs. GQGU - Dividend Comparison

RONB has not paid dividends to shareholders, while GQGU's dividend yield for the trailing twelve months is around 0.96%.

Position	TTM	2025
GQGU GQG US Equity ETF	0.96%	1.02%
RONB Baron First Principles ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RONB and GQGU in my portfolio?

RONB and GQGU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RONB or GQGU?

On fees, GQGU is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RONB or GQGU?

GQGU is cheaper with a 0.49% expense ratio, compared with 1.00% for RONB.

Which ETF pays a higher dividend yield, RONB or GQGU?

GQGU has the higher dividend yield at 0.96%, compared with 0.00% for RONB.

What is the main difference between RONB and GQGU?

They also come from different issuers: Baron Capital and GQG Partners. Their fees differ too: 1.00% for RONB and 0.49% for GQGU.