^SPXEW vs. VADDX
^SPXEW (S&P 500 Equal Weighted Index) is an index, while VADDX (Invesco Equally-Weighted S&P 500 Fund) is S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 10 years, ^SPXEW returned 10.30%/yr vs 12.03%/yr for VADDX. With a 0.99 correlation, they move nearly in lockstep.
Performance
^SPXEW vs. VADDX - Performance Comparison
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Returns By Period
In the year-to-date period, ^SPXEW achieves a 9.06% return, which is significantly lower than VADDX's 10.27% return. Over the past 10 years, ^SPXEW has underperformed VADDX with an annualized return of 10.30%, while VADDX has yielded a comparatively higher 12.03% annualized return.
^SPXEW
- 1D
- -0.37%
- 1M
- 1.32%
- YTD
- 9.06%
- 6M
- 8.13%
- 1Y
- 16.95%
- 3Y*
- 12.90%
- 5Y*
- 6.79%
- 10Y*
- 10.30%
VADDX
- 1D
- 0.14%
- 1M
- 1.83%
- YTD
- 10.27%
- 6M
- 9.36%
- 1Y
- 19.29%
- 3Y*
- 14.90%
- 5Y*
- 8.73%
- 10Y*
- 12.03%
^SPXEW vs. VADDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^SPXEW S&P 500 Equal Weighted Index | 9.06% | 9.34% | 10.90% | 11.56% | -13.11% | 27.48% | 10.47% | 27.57% | -10.14% | 16.68% |
VADDX Invesco Equally-Weighted S&P 500 Fund | 10.27% | 11.16% | 12.68% | 13.58% | -11.86% | 29.27% | 12.56% | 28.92% | -7.96% | 18.55% |
Correlation
The correlation between ^SPXEW and VADDX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2006 | 0.99 |
The correlation between ^SPXEW and VADDX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
^SPXEW vs. VADDX — Risk / Return Rank
^SPXEW
VADDX
^SPXEW vs. VADDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Equal Weighted Index (^SPXEW) and Invesco Equally-Weighted S&P 500 Fund (VADDX). 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.
| ^SPXEW | VADDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 2.60 | -0.48 |
| Martin ratioReturn relative to average drawdown | 7.90 | 9.80 | -1.90 |
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Drawdowns
^SPXEW vs. VADDX - Drawdown Comparison
The maximum ^SPXEW drawdown since its inception was -60.83%, roughly equal to the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for ^SPXEW and VADDX.
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Drawdown Indicators
| ^SPXEW | VADDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.83% | -60.12% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -7.88% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.31% | -17.86% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.47% | -21.58% | -0.89% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | -39.39% | +0.18% |
Current DrawdownCurrent decline from peak | -1.53% | -1.16% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -6.99% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.08% | +0.07% |
Volatility
^SPXEW vs. VADDX - Volatility Comparison
S&P 500 Equal Weighted Index (^SPXEW) and Invesco Equally-Weighted S&P 500 Fund (VADDX) have volatilities of 3.68% and 3.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^SPXEW | VADDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 3.66% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.76% | 8.77% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.89% | 11.93% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 16.29% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 18.56% | -0.18% |
Frequently Asked Questions
With a correlation of 1.00, ^SPXEW and VADDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
^SPXEW has higher volatility (3.68%) compared to VADDX (3.66%). In terms of maximum drawdown, ^SPXEW dropped -60.83% vs VADDX's -60.12%.
VADDX currently has the higher Sharpe Ratio (1.72 vs 1.43), 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.
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