^SPXEW vs. EQL

Last updated Apr 2, 2026

Compare and contrast key facts about S&P 500 Equal Weighted Index (^SPXEW) and Alps Equal Sector Weight ETF (EQL).

EQL is a passively managed fund by SS&C that tracks the performance of the NYSE Select Sector Equal Weight Index. It was launched on Jul 7, 2009.

Performance

^SPXEW vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Equal Weighted Index (^SPXEW) and Alps Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

^SPXEW vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SPXEW S&P 500 Equal Weighted Index	0.50%	9.34%	10.90%	11.56%	-13.11%	27.48%	10.47%	26.57%	-9.43%	16.68%
EQL Alps Equal Sector Weight ETF	3.18%	13.09%	16.44%	16.87%	-10.72%	29.32%	10.87%	27.87%	-6.12%	18.37%

Returns By Period

In the year-to-date period, ^SPXEW achieves a 0.50% return, which is significantly lower than EQL's 3.18% return. Over the past 10 years, ^SPXEW has underperformed EQL with an annualized return of 9.30%, while EQL has yielded a comparatively higher 12.17% annualized return.

^SPXEW

• 1D: 0.32%
• 1M: -5.69%
• YTD: 0.50%
• 6M: 1.23%
• 1Y: 10.97%
• 3Y*: 9.90%
• 5Y*: 6.06%
• 10Y*: 9.30%

EQL

• 1D: 0.23%
• 1M: -4.16%
• YTD: 3.18%
• 6M: 4.20%
• 1Y: 15.32%
• 3Y*: 14.94%
• 5Y*: 10.72%
• 10Y*: 12.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^SPXEW vs. EQL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^SPXEW

^SPXEW Risk / Return Rank: 40
^SPXEW Sharpe Ratio Rank: 40
^SPXEW Sortino Ratio Rank: 39
^SPXEW Omega Ratio Rank: 42
^SPXEW Calmar Ratio Rank: 37
^SPXEW Martin Ratio Rank: 44

EQL

EQL Risk / Return Rank: 57
EQL Sharpe Ratio Rank: 56
EQL Sortino Ratio Rank: 56
EQL Omega Ratio Rank: 61
EQL Calmar Ratio Rank: 49
EQL Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^SPXEW vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Equal Weighted Index (^SPXEW) and Alps Equal Sector Weight ETF (EQL). 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.

	^SPXEW	EQL	Difference
Sharpe ratio Return per unit of total volatility	0.64	1.03	-0.39
Sortino ratio Return per unit of downside risk	1.02	1.50	-0.48
Omega ratio Gain probability vs. loss probability	1.14	1.23	-0.09
Calmar ratio Return relative to maximum drawdown	0.88	1.31	-0.43
Martin ratio Return relative to average drawdown	3.88	6.43	-2.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SPXEW vs. EQL - Sharpe Ratio Comparison

The current ^SPXEW Sharpe Ratio is 0.64, which is lower than the EQL Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of ^SPXEW and EQL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^SPXEW	EQL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.03	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.74	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.74	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.84	-0.36

Correlation

The correlation between ^SPXEW and EQL is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

^SPXEW vs. EQL - Drawdown Comparison

The maximum ^SPXEW drawdown since its inception was -60.83%, which is greater than EQL's maximum drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for ^SPXEW and EQL.

Drawdown Indicators

	^SPXEW	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-60.83%	-35.65%	-25.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-11.90%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-22.47%	-19.24%	-3.23%
Max Drawdown (10Y) Largest decline over 10 years	-39.21%	-35.65%	-3.56%
Current Drawdown Current decline from peak	-5.88%	-4.27%	-1.61%
Average Drawdown Average peak-to-trough decline	-7.05%	-3.28%	-3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.42%	+0.44%

Volatility

^SPXEW vs. EQL - Volatility Comparison

S&P 500 Equal Weighted Index (^SPXEW) has a higher volatility of 4.39% compared to Alps Equal Sector Weight ETF (EQL) at 3.88%. This indicates that ^SPXEW's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^SPXEW	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	3.88%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	7.31%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	14.87%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	14.59%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	16.55%	+1.88%