USBOX vs. GQHPX

Last updated Aug 1, 2026

USBOX (Pear Tree Quality Fund) and GQHPX (GQG Partners US Quality Dividend Income Fund) are both Quality Factor funds. Over the past 5 years, USBOX returned 8.82%/yr vs 10.77%/yr for GQHPX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. USBOX charges 1.16%/yr vs 0.57%/yr for GQHPX.

Performance

USBOX vs. GQHPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pear Tree Quality Fund (USBOX) and GQG Partners US Quality Dividend Income Fund (GQHPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBOX achieves a 6.62% return, which is significantly lower than GQHPX's 13.55% return.

USBOX

• 1D: 1.37%
• 1M: -0.09%
• 6M: 4.85%
• YTD: 6.62%
• 1Y: 19.75%
• 3Y*: 14.89%
• 5Y*: 8.82%
• 10Y*: 13.42%
• ALL TIME*: 8.62%

GQHPX

• 1D: -0.82%
• 1M: 2.68%
• 6M: 7.38%
• YTD: 13.55%
• 1Y: 16.78%
• 3Y*: 11.65%
• 5Y*: 10.77%
• 10Y*: —
• ALL TIME*: 10.80%

*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)
GQHPX GQG Partners US Quality Dividend Income Fund	$0.00	$0.00	$0.00
USBOX Pear Tree Quality Fund	$0.00	$0.00	$0.00

USBOX vs. GQHPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
USBOX Pear Tree Quality Fund	6.62%	15.77%	17.99%	29.20%	-16.25%	-0.54%
GQHPX GQG Partners US Quality Dividend Income Fund	13.55%	7.53%	12.69%	3.94%	6.73%	10.34%

Correlation

The correlation between USBOX and GQHPX is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.12
Correlation (3Y) Balances recent behavior with more history.	0.36
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.52

The correlation between USBOX and GQHPX shifts across timeframes, from -0.12 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USBOX vs. GQHPX — Risk / Return Rank

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

USBOX

USBOX Risk / Return Rank: 42
USBOX Sharpe Ratio Rank: 49
USBOX Sortino Ratio Rank: 49
USBOX Omega Ratio Rank: 44
USBOX Calmar Ratio Rank: 31
USBOX Martin Ratio Rank: 36

GQHPX

GQHPX Risk / Return Rank: 62
GQHPX Sharpe Ratio Rank: 62
GQHPX Sortino Ratio Rank: 67
GQHPX Omega Ratio Rank: 55
GQHPX Calmar Ratio Rank: 78
GQHPX Martin Ratio Rank: 49

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.

USBOX vs. GQHPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pear Tree Quality Fund (USBOX) and GQG Partners US Quality Dividend Income Fund (GQHPX). 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.

	USBOX	GQHPX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.49	-0.17
Sortino ratio: Return per unit of downside risk	1.90	2.28	-0.38
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	1.36	2.53	-1.17
Martin ratio: Return relative to average drawdown	5.31	6.76	-1.45

USBOX vs. GQHPX - Sharpe Ratio Comparison

The current USBOX Sharpe Ratio is 1.33, which is comparable to the GQHPX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of USBOX and GQHPX, 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

USBOX vs. GQHPX - Drawdown Comparison

The maximum USBOX drawdown since its inception was -65.67%, which is greater than GQHPX's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for USBOX and GQHPX.

Drawdown Indicators

	USBOX	GQHPX	Difference
Max Drawdown Largest peak-to-trough decline	-65.67%	-17.26%	-48.41%
Max Drawdown (1Y) Largest decline over 1 year	-12.76%	-6.50%	-6.26%
Max Drawdown (3Y) Largest decline over 3 years	-15.41%	-8.71%	-6.70%
Max Drawdown (5Y) Largest decline over 5 years	-30.42%	-17.26%	-13.16%
Max Drawdown (10Y) Largest decline over 10 years	-30.42%	—	—
Current Drawdown Current decline from peak	-0.46%	-1.02%	+0.56%
Average Drawdown Average peak-to-trough decline	-17.04%	-3.34%	-13.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.43%	+0.83%

Volatility

USBOX vs. GQHPX - Volatility Comparison

The current volatility for Pear Tree Quality Fund (USBOX) is 3.55%, while GQG Partners US Quality Dividend Income Fund (GQHPX) has a volatility of 4.32%. This indicates that USBOX experiences smaller price fluctuations and is considered to be less risky than GQHPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBOX	GQHPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.32%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	9.14%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	11.03%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	12.74%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	12.74%	+4.41%

USBOX vs. GQHPX - Expense Ratio Comparison

USBOX has a 1.16% expense ratio, which is higher than GQHPX's 0.57% expense ratio.

Dividends

USBOX vs. GQHPX - Dividend Comparison

USBOX's dividend yield for the trailing twelve months is around 27.36%, more than GQHPX's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQHPX GQG Partners US Quality Dividend Income Fund	3.66%	2.98%	3.14%	2.64%	3.24%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USBOX Pear Tree Quality Fund	27.36%	29.17%	8.71%	4.37%	14.55%	0.88%	7.47%	19.65%	15.43%	6.92%	6.19%	12.85%

Frequently Asked Questions

Can I hold both USBOX and GQHPX in my portfolio?

USBOX and GQHPX have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBOX or GQHPX?

GQHPX has higher volatility (4.32%) compared to USBOX (3.55%). In terms of maximum drawdown, USBOX dropped -65.67% vs GQHPX's -17.26%.

Which has better risk-adjusted returns?

GQHPX currently has the higher Sharpe Ratio (1.49 vs 1.33), 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.