^SPXEW vs. VOO
^SPXEW (S&P 500 Equal Weighted Index) is an index, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ^SPXEW returned 10.30%/yr vs 15.61%/yr for VOO. Their correlation of 0.92 suggests significant overlap in exposure.
Performance
^SPXEW vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, ^SPXEW achieves a 9.06% return, which is significantly higher than VOO's 8.19% return. Over the past 10 years, ^SPXEW has underperformed VOO with an annualized return of 10.30%, while VOO has yielded a comparatively higher 15.61% 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%
VOO
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.19%
- 6M
- 7.24%
- 1Y
- 23.69%
- 3Y*
- 20.78%
- 5Y*
- 13.13%
- 10Y*
- 15.61%
^SPXEW vs. VOO - 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% |
VOO Vanguard S&P 500 ETF | 8.19% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between ^SPXEW and VOO is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.92 |
The correlation between ^SPXEW and VOO shifts across timeframes, from 0.74 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^SPXEW vs. VOO — Risk / Return Rank
^SPXEW
VOO
^SPXEW vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Equal Weighted Index (^SPXEW) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.35 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 2.67 | -0.55 |
| Martin ratioReturn relative to average drawdown | 7.90 | 11.96 | -4.06 |
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Drawdowns
^SPXEW vs. VOO - Drawdown Comparison
The maximum ^SPXEW drawdown since its inception was -60.83%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ^SPXEW and VOO.
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Drawdown Indicators
| ^SPXEW | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.83% | -33.99% | -26.84% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -8.90% | +0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -18.31% | -18.69% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -22.47% | -24.52% | +2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | -33.99% | -5.22% |
Current DrawdownCurrent decline from peak | -1.53% | -3.14% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -3.68% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.99% | +0.16% |
Volatility
^SPXEW vs. VOO - Volatility Comparison
The current volatility for S&P 500 Equal Weighted Index (^SPXEW) is 3.68%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.83%. This indicates that ^SPXEW experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^SPXEW | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 4.83% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.76% | 9.82% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.89% | 12.46% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 16.91% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 18.02% | +0.36% |
Frequently Asked Questions
^SPXEW and VOO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.83%) compared to ^SPXEW (3.68%). In terms of maximum drawdown, ^SPXEW dropped -60.83% vs VOO's -33.99%.
VOO currently has the higher Sharpe Ratio (1.91 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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