SAWS vs. IDHQ

Last updated Aug 4, 2026

SAWS (AAM Sawgrass U.S. Small Cap Quality Growth ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both Quality Factor funds. SAWS is actively managed, while IDHQ is passively managed. Over the past year, SAWS returned 28.85% vs 42.41% for IDHQ. Their 0.60 correlation means they have sometimes moved together and sometimes differently. SAWS charges 0.55%/yr vs 0.29%/yr for IDHQ.

Performance

SAWS vs. IDHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) and Invesco S&P International Developed High Quality ETF (IDHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAWS achieves a 17.29% return, which is significantly lower than IDHQ's 27.25% return.

SAWS

• 1D: 1.29%
• 1M: -1.48%
• 6M: 10.77%
• YTD: 17.29%
• 1Y: 28.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.43%

IDHQ

• 1D: 0.78%
• 1M: 0.59%
• 6M: 18.33%
• YTD: 27.25%
• 1Y: 42.41%
• 3Y*: 20.69%
• 5Y*: 9.61%
• 10Y*: 10.76%
• ALL TIME*: 5.36%

*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)
IDHQ Invesco S&P International Developed High Quality ETF	$6.00M	$6.33M	$5.63M
SAWS AAM Sawgrass U.S. Small Cap Quality Growth ETF	$35.00K	$47.58K	$37.56K

SAWS vs. IDHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SAWS AAM Sawgrass U.S. Small Cap Quality Growth ETF	17.29%	7.26%	4.18%
IDHQ Invesco S&P International Developed High Quality ETF	27.25%	27.46%	-5.86%

Correlation

The correlation between SAWS and IDHQ is 0.63, 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.	0.63
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	0.60

The correlation between SAWS and IDHQ has been stable across timeframes, ranging from 0.60 to 0.63 - a consistent structural relationship.

Return for Risk

SAWS vs. IDHQ — Risk / Return Rank

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

SAWS

SAWS Risk / Return Rank: 62
SAWS Sharpe Ratio Rank: 58
SAWS Sortino Ratio Rank: 62
SAWS Omega Ratio Rank: 52
SAWS Calmar Ratio Rank: 74
SAWS Martin Ratio Rank: 63

IDHQ

IDHQ Risk / Return Rank: 85
IDHQ Sharpe Ratio Rank: 85
IDHQ Sortino Ratio Rank: 85
IDHQ Omega Ratio Rank: 84
IDHQ Calmar Ratio Rank: 83
IDHQ Martin Ratio Rank: 86

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.

SAWS vs. IDHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) and Invesco S&P International Developed High Quality ETF (IDHQ). 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.

	SAWS	IDHQ	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.06	-0.54
Sortino ratio: Return per unit of downside risk	2.30	2.87	-0.58
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	2.83	3.17	-0.34
Martin ratio: Return relative to average drawdown	8.42	12.70	-4.29

SAWS vs. IDHQ - Sharpe Ratio Comparison

The current SAWS Sharpe Ratio is 1.52, which is comparable to the IDHQ Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of SAWS and IDHQ, 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

SAWS vs. IDHQ - Drawdown Comparison

The maximum SAWS drawdown since its inception was -22.04%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for SAWS and IDHQ.

Drawdown Indicators

	SAWS	IDHQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-73.84%	+51.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-13.44%	+3.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.54%	—
Current Drawdown Current decline from peak	-4.94%	-0.27%	-4.67%
Average Drawdown Average peak-to-trough decline	-5.39%	-21.03%	+15.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	3.35%	+0.09%

Volatility

SAWS vs. IDHQ - Volatility Comparison

AAM Sawgrass U.S. Small Cap Quality Growth ETF (SAWS) has a higher volatility of 5.17% compared to Invesco S&P International Developed High Quality ETF (IDHQ) at 4.02%. This indicates that SAWS's price experiences larger fluctuations and is considered to be riskier than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAWS	IDHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	4.02%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	14.73%	18.89%	-4.16%
Volatility (1Y) Calculated over the trailing 1-year period	19.06%	20.72%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.90%	17.86%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.90%	17.98%	+2.92%

SAWS vs. IDHQ - Expense Ratio Comparison

SAWS has a 0.55% expense ratio, which is higher than IDHQ's 0.29% expense ratio.

Dividends

SAWS vs. IDHQ - Dividend Comparison

SAWS's dividend yield for the trailing twelve months is around 0.02%, less than IDHQ's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDHQ Invesco S&P International Developed High Quality ETF	1.99%	2.46%	2.41%	2.52%	3.33%	2.10%	1.60%	2.10%	2.67%	1.68%	2.36%	1.71%
SAWS AAM Sawgrass U.S. Small Cap Quality Growth ETF	0.02%	0.02%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SAWS and IDHQ in my portfolio?

SAWS and IDHQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAWS or IDHQ?

SAWS has higher volatility (5.17%) compared to IDHQ (4.02%). In terms of maximum drawdown, SAWS dropped -22.04% vs IDHQ's -73.84%.

Which ETF is better, SAWS or IDHQ?

On 1-year performance, IDHQ leads with 42.41% vs 28.85% for SAWS. On fees, IDHQ is cheaper at 0.29% per year. On volatility, IDHQ has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SAWS or IDHQ?

Over the 1-year period, IDHQ has performed better with a 42.41% return vs 28.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAWS or IDHQ?

IDHQ is cheaper with a 0.29% expense ratio, compared with 0.55% for SAWS.

Which ETF pays a higher dividend yield, SAWS or IDHQ?

IDHQ has the higher dividend yield at 1.99%, compared with 0.02% for SAWS.

What is the main difference between SAWS and IDHQ?

They also come from different issuers: AAM and Invesco. Their fees differ too: 0.55% for SAWS and 0.29% for IDHQ.

Which has better risk-adjusted returns?

IDHQ currently has the higher Sharpe Ratio (2.06 vs 1.52), 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.