CECO vs. SPHQ

Last updated Jun 24, 2026

CECO (CECO Environmental Corp.) is a stock, while SPHQ (Invesco S&P 500 Quality ETF) is S&P 500 fund tracking the S&P 500 Quality Index. Over the past 10 years, CECO returned 28.05%/yr vs 15.46%/yr for SPHQ. At a 0.34 correlation, their price movements are largely independent.

Performance

CECO vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CECO Environmental Corp. (CECO) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CECO achieves a 61.52% return, which is significantly higher than SPHQ's 16.54% return. Over the past 10 years, CECO has outperformed SPHQ with an annualized return of 28.05%, while SPHQ has yielded a comparatively lower 15.46% annualized return.

CECO

• 1D: -3.01%
• 1M: 18.31%
• YTD: 61.52%
• 6M: 59.36%
• 1Y: 234.38%
• 3Y*: 96.30%
• 5Y*: 66.08%
• 10Y*: 28.05%

SPHQ

• 1D: -2.93%
• 1M: 2.94%
• YTD: 16.54%
• 6M: 15.11%
• 1Y: 25.84%
• 3Y*: 22.34%
• 5Y*: 14.14%
• 10Y*: 15.46%

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

CECO vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CECO CECO Environmental Corp.	61.52%	97.98%	49.06%	73.63%	87.48%	-10.49%	-9.14%	13.48%	31.58%	-62.30%
SPHQ Invesco S&P 500 Quality ETF	16.54%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%

Correlation

The correlation between CECO and SPHQ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Dec 6, 2005	0.34

Return for Risk

CECO vs. SPHQ — Risk / Return Rank

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

CECO

CECO Risk / Return Rank: 95
CECO Sharpe Ratio Rank: 97
CECO Sortino Ratio Rank: 93
CECO Omega Ratio Rank: 94
CECO Calmar Ratio Rank: 95
CECO Martin Ratio Rank: 96

SPHQ

SPHQ Risk / Return Rank: 61
SPHQ Sharpe Ratio Rank: 60
SPHQ Sortino Ratio Rank: 60
SPHQ Omega Ratio Rank: 56
SPHQ Calmar Ratio Rank: 61
SPHQ Martin Ratio Rank: 70

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.

CECO vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CECO Environmental Corp. (CECO) and Invesco S&P 500 Quality ETF (SPHQ). 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.

	CECO	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	3.77	1.94	+1.84
Sortino ratio: Return per unit of downside risk	3.61	2.74	+0.88
Omega ratio: Gain probability vs. loss probability	1.51	1.34	+0.17
Calmar ratio: Return relative to maximum drawdown	6.73	2.92	+3.81
Martin ratio: Return relative to average drawdown	21.03	12.48	+8.55

CECO vs. SPHQ - Sharpe Ratio Comparison

The current CECO Sharpe Ratio is 3.77, which is higher than the SPHQ Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of CECO and SPHQ, 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

CECO vs. SPHQ - Drawdown Comparison

The maximum CECO drawdown since its inception was -90.64%, which is greater than SPHQ's maximum drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for CECO and SPHQ.

Drawdown Indicators

	CECO	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-90.64%	-57.83%	-32.81%
Max Drawdown (1Y) Largest decline over 1 year	-35.08%	-8.90%	-26.18%
Max Drawdown (3Y) Largest decline over 3 years	-47.93%	-16.57%	-31.36%
Max Drawdown (5Y) Largest decline over 5 years	-47.93%	-25.04%	-22.89%
Max Drawdown (10Y) Largest decline over 10 years	-74.13%	-31.60%	-42.53%
Current Drawdown Current decline from peak	-3.01%	-2.93%	-0.08%
Average Drawdown Average peak-to-trough decline	-46.21%	-10.68%	-35.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.20%	2.07%	+9.13%

Volatility

CECO vs. SPHQ - Volatility Comparison

CECO Environmental Corp. (CECO) has a higher volatility of 26.06% compared to Invesco S&P 500 Quality ETF (SPHQ) at 5.88%. This indicates that CECO's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CECO	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.06%	5.88%	+20.18%
Volatility (6M) Calculated over the trailing 6-month period	51.17%	11.30%	+39.87%
Volatility (1Y) Calculated over the trailing 1-year period	62.55%	13.46%	+49.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.23%	16.59%	+35.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.03%	17.91%	+34.12%

Dividends

CECO vs. SPHQ - Dividend Comparison

CECO has not paid dividends to shareholders, while SPHQ's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CECO CECO Environmental Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.39%	1.89%	3.44%
SPHQ Invesco S&P 500 Quality ETF	1.07%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both CECO and SPHQ in my portfolio?

CECO and SPHQ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CECO or SPHQ?

CECO has higher volatility (26.06%) compared to SPHQ (5.88%). In terms of maximum drawdown, CECO dropped -90.64% vs SPHQ's -57.83%.

Which has better risk-adjusted returns?

CECO currently has the higher Sharpe Ratio (3.77 vs 1.94), 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.