iShares MSCI USA Quality GARP ETF (GARP) Performance
GARP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.3% since Dec 31, 2025
- 1 year
- +17.7% total return
- 5 years
- +16.5% a year
- Since first price
- +19.2% a year since 2020
GARP trailing returns vs SPY, QQQ, AGG
| Period | GARP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.1% | −7.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.3% | +0.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.7% | +9.6% | +7.8% | +8.4% | −1.5% |
| YTD | +16.3% | +16.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +17.7% | +17.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +124.2%+30.9%/yr | +121.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +115.0%+16.5%/yr | +107.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJan 16, 2020 | +229.0%+19.2%/yr | +212.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GARP vs SPY
From Jan 16, 2020: GARP grew to $32,900, SPY to $25,257.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GARP returns by calendar year
4 of 5 full years positive. Best 2023 (+42.9%), worst 2022 (−26.7%). 2026 is year to date.
GARP annual returns table
| Year | GARP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.3% | −13.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +21.5% | −23.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +37.4% | −13.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +42.9% | −8.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −26.7% | −30.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +28.0% | −9.3% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GARP largest drawdowns
Now 9.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −31.3% | Mar 23, 2020 | Jun 8, 2020 | 33 days | 4 months |
| Dec 27, 2021 | −30.6% | Jun 16, 2022 | Dec 1, 2023 | 6 months | 1.9 years |
| Feb 19, 2025 | −23.7% | Apr 8, 2025 | Jun 25, 2025 | 48 days | 4 months |
| Jan 29, 2026 | −13.7% | Mar 30, 2026 | Apr 16, 2026 | 2 months | 3 months |
| Jul 10, 2024 | −13.4% | Aug 7, 2024 | Oct 14, 2024 | 28 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GARP risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +34.1% | +19.7% | +21.5% |
| Volatility (annualized) | 17.8% | 20.0% | 20.4% |
| Sharpe ratio | 1.51 | 0.83 | 0.93 |
| Sortino ratio | 3.25 | 1.41 | 1.61 |
| Best month | +14.3% | +14.3% | +15.1% |
| Worst month | −8.5% | −10.8% | −10.8% |
| Best 12 months | +50.2% | +50.2% | +61.1% |
| Worst 12 months | +7.6% | −26.7% | −26.7% |
| Positive months | 72% | 65% | 65% |
| Beta vs S&P 500 | 1.33 | 1.20 | — |
| Correlation with S&P 500 | 0.93 | 0.94 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GARP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 70 | −26.7% | +26.6% | +61.1% | 83% |
| 3-year (a year) | 46 | +9.0% | +15.1% | +34.3% | 100% |
| 5-year (a year) | 22 | +15.5% | +18.6% | +21.5% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
GARP performance overview
iShares MSCI USA Quality GARP ETF (GARP) returned +17.7% over the past year and +16.5% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +19.2% a year, turning $10,000 into about $32,900. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −31.3%, from Feb 19, 2020 to Mar 23, 2020, and it took 3 months to get back to the old high. GARP finished 4 of its 5 full calendar years with a gain; the best year was 2023 (+42.9%) and the worst 2022 (−26.7%). Volatility has been 20.4% a year.
Related: GARP chart, GARP holdings, GARP dividends, GARP valuation. See the GARP overview for the latest quote and fund facts.
GARP performance FAQ
What is the GARP return over the past year?
GARP returned +17.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 17.4%.
What is the average annual return of GARP?
GARP has returned +16.5% a year over 5 years, +19.2% a year since January 16, 2020 (total return, distributions reinvested).
How much would $10,000 invested in GARP be worth?
$10,000 invested in GARP at its first recorded close on January 16, 2020 would be worth about $32,900 on October 23, 2026 with distributions reinvested.
What was the worst year for GARP?
The worst calendar year was 2022, with a total return of −26.7%. The best was 2023 at +42.9%.
What is the biggest drawdown of GARP?
The largest peak-to-trough decline was −31.3% between February 19, 2020 and March 23, 2020. It recovered to the old high on June 8, 2020, 3 months after the bottom.
How volatile is GARP?
Over the past 3 years GARP had an annualized volatility of 17.8% and a Sharpe ratio of 1.51 (excess return over 1–3 month T-bills per unit of risk).