GARP vs IUSG: Differences, Returns & Fees

GARP and IUSG hold 51% of their weight in the same names, and GARP returned +22.3% over the year. Net assets on Oct 20, 2026: $3.6bn for iShares MSCI USA Quality GARP ETF and $33.6bn for iShares Core S&P U.S. Growth ETF.

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Answers cite the figures on this page.

IUSG costs 0.11 points a year less; their one-year returns differ by 6.4 points; IUSG is 9.5 times larger.

GARP vs IUSG: Differences, Returns & Fees
GARPIUSG
Expense ratio0.15%0.04%
Net assets$3.6bn$33.6bn
Total return, 1 year+22.3%+15.9%
What it tracksMSCI USA Quality GARP Select IndexS&P 900 Growth Index
Holdings in common51%
Top ten holdings, share of the fund44.0%57.4%
Below its high6.7%, high on Oct 6, 20264.1%, high on Oct 6, 2026

Holdings in common uses holdings dated Oct 19, 2026.

+22.3%
GARP total return, 1 year
+15.9%
IUSG total return, 1 year
0.15%
GARP expense ratio
0.04%
IUSG expense ratio

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Client brief · page 1 of 2Report BR-6FCE7D11C3

GARP and IUSG are built for the same job. How do they differ in cost, holdings and results?

  1. What each follows. GARP follows MSCI USA Quality GARP Select Index and IUSG follows S&P 900 Growth Index.
  2. One-year total return. Over 1 year to Oct 20, 2026 GARP returned +22.3% and IUSG +15.9% with distributions reinvested, a gap of 6.4 points.
  3. Number of holdings. GARP holds 131 positions and IUSG holds 402.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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What they hold in common

By the books each fund has filed, GARP and IUSG hold 51% of their money in the same securities at the same weight. Holdings dated Oct 19, 2026.

half

51% in common

Positions both hold, largest shared weight first
Holding GARP IUSG
MICROSOFT 5.61% 10.40%
APPLE 5.51% 6.57%
NVIDIA 5.08% 13.79%
META PLATFORMS CLASS A 5.29% 4.08%
MICRON TECHNOLOGY 4.43% 2.68%
ALPHABET CLASS A 2.37% 5.30%
ALPHABET CLASS C 2.24% 4.24%
AMAZON.COM INC 2.17% 3.58%
ADVANCED MICRO DEVICES 1.90% 2.31%
ELI LILLY 1.70% 2.60%
BROADCOM INC 1.64% 4.18%
PALANTIR TECHNOLOGIES CLASS A 2.75% 1.17%
Only in GARP
ADOBE INC 2.13%
MERCADOLIBRE 2.01%
INTEL CORPORATION 1.75%
WESTERN DIGITAL CORP 1.58%
DELL TECHNOLOGIES INC CLASS C 0.59%
FREEPORT MCMORAN INC 0.51%
CHIPOTLE MEXICAN GRILL 0.46%
MCKESSON CORP 0.40%
Only in IUSG
BERKSHIRE HATHAWAY INC CLASS B 2.60%
TESLA INC 1.69%
JPMORGAN CHASE & CO 1.58%
JOHNSON & JOHNSON 0.95%
RTX 0.68%
ABBVIE 0.60%
CISCO SYSTEMS INC 0.58%
SANDISK 0.53%

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On the same fields

GARP
iShares MSCI USA Quality GARP ETF
IUSG
iShares Core S&P U.S. Growth ETF
Where it sits Stock ETF Stock ETF
What it is Tracks the MSCI USA Quality GARP Tracks an index
Total return, 1 year +22.3% +15.9%
Its benchmark over the same days +15.4% (PBUS) not measured
Gap to its benchmark +6.9 pts vs PBUS not measured
Expense ratio 0.15% 0.04%
Already in the S&P 500 94.4% 94.9%
Holdings 131 402
Net assets $3.6bn $33.6bn

GARP and IUSG on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About GARP

GARP tracks the MSCI USA Quality GARP. Over the year to Oct 20, 2026 it returned +22.3% with distributions reinvested, against +15.4% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 19, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 44.0%. It sat 6.7% below its high of Oct 6, 2026 on Oct 20, 2026.

About IUSG

IUSG tracks an index. Over the year to Oct 20, 2026 it returned +15.9% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer for Oct 19, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 402 positions, with the top ten at 57.4%. It sat 4.1% below its high of Oct 6, 2026 on Oct 20, 2026.

Questions people ask

Which returned more over the last year, GARP or IUSG?
In the year to Oct 20, 2026, with distributions reinvested, GARP returned +22.3% and IUSG +15.9%.
Which is cheaper, GARP or IUSG?
IUSG is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do GARP and IUSG overlap with the S&P 500?
By their latest filed holdings, 94% of GARP and 95% of IUSG by weight is stocks the S&P 500 already holds.
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ETFIQ, GARP against IUSG, data as of Oct 20, 2026. https://etfiq.com/compare/any/garp-vs-iusg

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