Which returned more over the last year, GARP or VO?

In the year to Oct 28, 2026, with distributions reinvested, GARP returned +18.0% and VO +12.8%.

Which is cheaper, GARP or VO?

VO is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do GARP and VO overlap with the S&P 500?

By their latest filed holdings, 94% of GARP and 91% of VO by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

GARP vs VO: Differences, Returns & Fees

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Over the year to Oct 28, 2026, GARP returned +18.0% to VO's +12.8%; 12% of their weight is in the same names.

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Net assets: $3.6bn on Oct 27, 2026 for iShares MSCI USA Quality GARP ETF, and $103.4bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap ETF.

GARP on its own →VO on its own →

At a glance

+18.0%

GARP total return, 1 year

+12.8%

VO total return, 1 year

0.15%

GARP expense ratio

0.03%

VO expense ratio

Pair scorecard

VO costs 0.12 points a year less; their one-year returns differ by 5.2 points; VO is far larger, $103.4bn against $3.4bn.

GARP vs VO: Differences, Returns & Fees
Measure	GARP	VO
Return
Measure	GARP	VO
Total return, 1 year	+18.0%	+12.8%
Drawdown
Measure	GARP	VO
Below its high	7.0%, high on Oct 6, 2026	3.1%, high on Aug 14, 2026
Benchmark
Measure	GARP	VO
What it tracks	MSCI USA Quality GARP Select Index	Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index)
Cost and size
Measure	GARP	VO
Expense ratio	0.15%	0.03%
Net assets, as of Sep 30, 2026	$3.4bn	$103.4bn
Holdings
Measure	GARP	VO
Holdings in common	12%
Top ten holdings, share of the fund	43.5%	9.7%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

Risk and return

Jan 24, 2020 to Oct 23, 2026 · 352 weekly returns

GARP VO

Return

Total return edge GARP +232.4% +96.6%

Annualized edge GARP +19.4% +10.5%

Price return edge GARP +215.4% +77.3%

Risk

Volatility edge VO (slight) 22.3% 21.2%

Max drawdown edge GARP −30.1% −37.4%

Risk-adjusted

Sharpe edge GARP 0.78 0.44

Sortino edge GARP 1.16 0.63

Calmar edge GARP 0.65 0.28

Reading

GARP returned more: +232.4% to +96.6%. VO swung slightly less: 21.2% to 22.3%. GARP fell less at its worst: −30.1% to −37.4%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: GARP vs VO: Differences, Returns & Fees
Measure	GARP	VO	Edge	How it is measured
Return
Total return	+232.4%	+96.6%	GARP	Price change plus distributions, reinvested.
Annualized	+19.4%	+10.5%	GARP	Total return as a yearly rate.
Price return	+215.4%	+77.3%	GARP	Price change alone, distributions left out.
Risk
Volatility	22.3%	21.2%	VO (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.9%	14.8%	Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−30.1%	−37.4%	GARP	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.78	0.44	GARP	Return above Treasury bills per unit of volatility.
Sortino	1.16	0.63	GARP	Return above Treasury bills per unit of downside deviation.
Calmar	0.65	0.28	GARP	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 352 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

12%

By the books each fund has filed, GARP and VO hold 12% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

50%

0 half 100%

half

12% in common

Positions both hold · largest shared weight first GARP VO

DOORDASH CLASS A 0.77% 0.70%

ROYAL CARIBBEAN GROUP 1.83% 0.67%

COMFORT SYSTEMS USA 0.64% 0.57%

FORTINET 1.77% 0.55%

HOWMET AEROSPACE 0.54% 0.89%

QUANTA SERVICES INC 0.52% 0.95%

VERTIV HOLDINGS CLASS A 0.46% 0.92%

AUTODESK 1.12% 0.44%

VISTRA 0.43% 0.46%

CARVANA CLASS A 0.46% 0.42%

IDEXX LABORATORIES 0.54% 0.41%

CHIPOTLE MEXICAN GRILL 0.44% 0.40%

Only in one fund ↓

Only in GARP

MICROSOFT 5.67%

APPLE 5.66%

NVIDIA 5.18%

VISA CLASS A 5.13%

META PLATFORMS CLASS A 4.72%

MICRON TECHNOLOGY 4.61%

LAM RESEARCH 3.31%

CATERPILLAR INC 3.29%

Only in VO

Valero Energy Corp 1.10%

Marathon Petroleum Corp 1.10%

Phillips 66 1.01%

Hewlett Packard Enterprise Co 0.79%

Ross Stores Inc 0.74%

Motorola Solutions Inc 0.73%

Warner Bros Discovery Inc 0.73%

SLB Ltd 0.71%

Check overlap with more funds →

Side by side

GARP iShares MSCI USA Quality GARP ETF VO Vanguard Morningstar Mid-Cap ETF

Where it sits Stock ETF Stock ETF

Issuer iShares Vanguard

What it is Tracks the MSCI USA Quality GARP Tracks an index of Mid-Cap

Total return, 1 year +18.0% +12.8%

Its benchmark over the same days +13.3% (PBUS) not measured

Gap to its benchmark +4.7 pts vs PBUS not measured

Expense ratio 0.15% 0.03%

Already in the S&P 500 94.4% 91.1%

Holdings 131 273

Net assets, GARP as of Oct 27, 2026 and VO as of Sep 30, 2026 $3.6bn $103.4bn

GARP and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-645E471B4E

GARP and VO do different jobs. What does each one do in a portfolio?

What each follows. GARP follows MSCI USA Quality GARP Select Index and VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index).
Holdings in common. 12% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
One-year total return. Over 1 year to Oct 28, 2026 GARP returned +18.0% and VO +12.8% with distributions reinvested, a gap of 5.2 points.

Data as of Oct 28, 2026.

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About each fund

GARP

GARP tracks the MSCI USA Quality GARP. Over the year to Oct 28, 2026 it returned +18.0% with distributions reinvested, against +13.3% 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 27, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.5%. It sat 7.0% below its high of Oct 6, 2026 on Oct 28, 2026.

VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, GARP or VO?: In the year to Oct 28, 2026, with distributions reinvested, GARP returned +18.0% and VO +12.8%.
Which is cheaper, GARP or VO?: VO is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do GARP and VO overlap with the S&P 500?: By their latest filed holdings, 94% of GARP and 91% of VO by weight is stocks the S&P 500 already holds.

Other comparisons

GARP vs IJH GARP vs MOAT GARP vs MDY GARP vs VXF VO vs VOOG VO vs VONG SPYG vs VO SCHG vs VO

Where to next

GARP on its own →VO on its own →Hold both: look the portfolio through →Rankings →GARP dividend history →GARP holdings →VO dividend history →VO holdings →Standards and sources →

Sources and dates

GARP filings on SEC EDGAR ↗

GARP prospectus with the expense ratio (SEC) ↗

iShares page for GARP ↗

VO filings on SEC EDGAR ↗

VO prospectus with the expense ratio (SEC) ↗

Vanguard page for VO ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, GARP against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/garp-vs-vo

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.