CDEI vs. EQL

Last updated Aug 4, 2026

CDEI (Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds - CDEI tracks the Russell 1000 Index while EQL tracks the NYSE Equal Sector Weight Index. Both are passively managed. Over the past 3 years, CDEI returned 19.13%/yr vs 15.68%/yr for EQL. Their correlation of 0.81 means they have usually moved in the same direction. CDEI charges 0.14%/yr vs 0.27%/yr for EQL.

Performance

CDEI vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CDEI having a 12.39% return and EQL slightly lower at 11.79%.

CDEI

• 1D: 1.06%
• 1M: 1.19%
• 6M: 11.52%
• YTD: 12.39%
• 1Y: 25.48%
• 3Y*: 19.13%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.30%

EQL

• 1D: 0.98%
• 1M: 1.30%
• 6M: 7.57%
• YTD: 11.79%
• 1Y: 19.50%
• 3Y*: 15.68%
• 5Y*: 10.87%
• 10Y*: 12.40%
• ALL TIME*: 13.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	$670.28K	$332.00K	$158.81K
EQL ALPS Equal Sector Weight ETF	$3.24M	$2.89M	$2.73M

CDEI vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	12.39%	16.60%	18.67%	22.82%
EQL ALPS Equal Sector Weight ETF	11.79%	13.09%	16.44%	10.41%

Correlation

The correlation between CDEI and EQL is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.81

The correlation between CDEI and EQL has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

CDEI vs. EQL - Sectors Allocation Comparison

Sectors	CDEI	EQL
Technology	42.5%	10.2%
Financial Services	15.7%	9.1%
Healthcare	12.2%	9.4%
Communication Services	10.4%	8.9%
Industrials	7.4%	9.3%
Consumer Defensive	3.9%	8.8%
Consumer Cyclical	3.4%	9.6%
Real Estate	2.2%	8.7%
Utilities	1.6%	9.4%
Energy	0.4%	8.7%
Basic Materials	0.2%	8.0%

Return for Risk

CDEI vs. EQL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CDEI

CDEI Risk / Return Rank: 76
CDEI Sharpe Ratio Rank: 79
CDEI Sortino Ratio Rank: 78
CDEI Omega Ratio Rank: 76
CDEI Calmar Ratio Rank: 68
CDEI Martin Ratio Rank: 79

EQL

EQL Risk / Return Rank: 85
EQL Sharpe Ratio Rank: 86
EQL Sortino Ratio Rank: 85
EQL Omega Ratio Rank: 85
EQL Calmar Ratio Rank: 83
EQL Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CDEI vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) 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.

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.

	CDEI	EQL	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.07	-0.10
Sortino ratio: Return per unit of downside risk	2.71	2.89	-0.18
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.03
Calmar ratio: Return relative to maximum drawdown	2.59	3.16	-0.57
Martin ratio: Return relative to average drawdown	11.03	12.39	-1.36

CDEI vs. EQL - Sharpe Ratio Comparison

The current CDEI Sharpe Ratio is 1.97, which is comparable to the EQL Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of CDEI and EQL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CDEI vs. EQL - Drawdown Comparison

The maximum CDEI drawdown since its inception was -19.46%, smaller than the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for CDEI and EQL.

Drawdown Indicators

	CDEI	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-35.65%	+16.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-6.19%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-15.07%	-4.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.65%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.23%	-3.23%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	1.58%	+0.74%

Volatility

CDEI vs. EQL - Volatility Comparison

Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) has a higher volatility of 4.86% compared to ALPS Equal Sector Weight ETF (EQL) at 2.29%. This indicates that CDEI'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

	CDEI	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	2.29%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	10.50%	7.09%	+3.41%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	9.47%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.07%	14.52%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.07%	16.49%	-1.42%

CDEI vs. EQL - Expense Ratio Comparison

CDEI has a 0.14% expense ratio, which is lower than EQL's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CDEI vs. EQL - Dividend Comparison

CDEI's dividend yield for the trailing twelve months is around 0.97%, less than EQL's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	0.97%	1.05%	1.22%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EQL ALPS Equal Sector Weight ETF	1.34%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%

Frequently Asked Questions

Can I hold both CDEI and EQL in my portfolio?

CDEI and EQL have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDEI or EQL?

CDEI has higher volatility (4.86%) compared to EQL (2.29%). In terms of maximum drawdown, CDEI dropped -19.46% vs EQL's -35.65%.

Which ETF is better, CDEI or EQL?

On 3-year performance, CDEI leads with 19.13% vs 15.68% for EQL. On fees, CDEI is cheaper at 0.14% per year. On volatility, EQL has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDEI or EQL?

Over the 3-year period, CDEI has performed better with a 19.13% return vs 15.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDEI or EQL?

CDEI is cheaper with a 0.14% expense ratio, compared with 0.27% for EQL.

Which ETF pays a higher dividend yield, CDEI or EQL?

EQL has the higher dividend yield at 1.34%, compared with 0.97% for CDEI.

What is the main difference between CDEI and EQL?

CDEI tracks Russell 1000 Index, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: Calvert and SS&C. Their fees differ too: 0.14% for CDEI and 0.27% for EQL.

Which has better risk-adjusted returns?

EQL currently has the higher Sharpe Ratio (2.07 vs 1.97), 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.