PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EQAL vs. EUSA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EQAL vs. EUSA

Last updated Aug 2, 2026
Documentation

EQAL (Invesco Russell 1000 Equal Weight ETF) and EUSA (iShares MSCI USA Equal Weighted ETF) are both Mid Cap Blend Equities funds - EQAL tracks the Russell 1000 Equal Weight Index while EUSA tracks the MSCI USA Equal Weighted Index. Both are passively managed. Over the past 10 years, EQAL returned 10.52%/yr vs 11.50%/yr for EUSA. Their correlation of 0.94 means they have usually moved in the same direction. EQAL charges 0.20%/yr vs 0.09%/yr for EUSA.

Performance

EQAL vs. EUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Russell 1000 Equal Weight ETF (EQAL) and iShares MSCI USA Equal Weighted ETF (EUSA). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EQAL achieves a 13.65% return, which is significantly higher than EUSA's 11.42% return. Over the past 10 years, EQAL has underperformed EUSA with an annualized return of 10.52%, while EUSA has yielded a comparatively higher 11.50% annualized return.

EQAL

1D
-0.15%
1M
-0.32%
6M
9.29%
YTD
13.65%
1Y
22.55%
3Y*
12.95%
5Y*
7.35%
10Y*
10.52%
ALL TIME*
9.47%

EUSA

1D
-0.18%
1M
-0.58%
6M
9.17%
YTD
11.42%
1Y
17.37%
3Y*
13.65%
5Y*
7.66%
10Y*
11.50%
ALL TIME*
12.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EQAL

Invesco Russell 1000 Equal Weight ETF
$1.43M$1.64M$1.88M

EUSA

iShares MSCI USA Equal Weighted ETF
$11.09M$12.88M$7.42M

EQAL vs. EUSA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EQAL
Invesco Russell 1000 Equal Weight ETF		13.65%11.05%11.38%11.98%-13.49%23.14%16.57%24.54%-9.22%17.36%
EUSA
iShares MSCI USA Equal Weighted ETF		11.42%10.24%14.64%17.72%-17.13%25.60%15.03%30.56%-8.58%19.02%

Correlation

The correlation between EQAL and EUSA is 0.94, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.94

Correlation (3Y)
Balances recent behavior with more history.

0.96

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (10Y)
Provides a long-term view across more market conditions.

0.96

Correlation (All Time)
Calculated using the full available price history since Dec 29, 2014

0.94

The correlation between EQAL and EUSA has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

EQAL vs. EUSA - Sectors Allocation Comparison

Sectors
EQAL
EUSA

Technology

14.2%
19.0%

Industrials

10.4%
15.3%

Healthcare

10.3%
11.2%

Real Estate

9.3%
5.2%

Financial Services

9.1%
15.6%

Utilities

8.4%
5.8%

Consumer Defensive

8.3%
5.4%

Energy

8.0%
3.9%

Consumer Cyclical

7.9%
10.4%

Basic Materials

7.4%
4.8%

Communication Services

6.8%
3.2%

Technology

EQAL
14.2%
EUSA
19.0%

Industrials

EQAL
10.4%
EUSA
15.3%

Healthcare

EQAL
10.3%
EUSA
11.2%

Real Estate

EQAL
9.3%
EUSA
5.2%

Financial Services

EQAL
9.1%
EUSA
15.6%

Utilities

EQAL
8.4%
EUSA
5.8%

Consumer Defensive

EQAL
8.3%
EUSA
5.4%

Energy

EQAL
8.0%
EUSA
3.9%

Consumer Cyclical

EQAL
7.9%
EUSA
10.4%

Basic Materials

EQAL
7.4%
EUSA
4.8%

Communication Services

EQAL
6.8%
EUSA
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Russell 1000 Equal Weight ETF

iShares MSCI USA Equal Weighted ETF

Often compared with EQAL:
EQAL vs. RSPEQAL vs. IWBEQAL vs. IWMEQAL vs. SPYEQAL vs. XLGEQAL vs. FSPGXEQAL vs. EQQQ.DE
Often compared with EUSA:
EUSA vs. RSPEUSA vs. GSEWEUSA vs. VOOEUSA vs. VTIEUSA vs. ^GSPCEUSA vs. ITOTEUSA vs. SCHG

Return for Risk

EQAL vs. EUSA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EQAL
EQAL Risk / Return Rank: 8080
Overall Rank
EQAL Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
EQAL Sortino Ratio Rank: 7979
Sortino Ratio Rank
EQAL Omega Ratio Rank: 7676
Omega Ratio Rank
EQAL Calmar Ratio Rank: 8484
Calmar Ratio Rank
EQAL Martin Ratio Rank: 8484
Martin Ratio Rank
EUSA
EUSA Risk / Return Rank: 5959
Overall Rank
EUSA Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
EUSA Sortino Ratio Rank: 5858
Sortino Ratio Rank
EUSA Omega Ratio Rank: 5454
Omega Ratio Rank
EUSA Calmar Ratio Rank: 5959
Calmar Ratio Rank
EUSA Martin Ratio Rank: 6868
Martin Ratio Rank
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.

EQAL vs. EUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Russell 1000 Equal Weight ETF (EQAL) and iShares MSCI USA Equal Weighted ETF (EUSA). 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.

EQALEUSADifference
Sharpe ratioReturn per unit of total volatility
1.76
1.35

+0.41

Sortino ratioReturn per unit of downside risk
2.54
1.97

+0.57

Omega ratioGain probability vs. loss probability

1.31

1.24

+0.08

Calmar ratioReturn relative to maximum drawdown

3.19

2.06

+1.13

Martin ratioReturn relative to average drawdown

11.58

8.25

+3.33

EQAL vs. EUSA - Sharpe Ratio Comparison

The current EQAL Sharpe Ratio is 1.76, which is higher than the EUSA Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of EQAL and EUSA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EQAL vs. EUSA - Drawdown Comparison

The maximum EQAL drawdown since its inception was -40.44%, roughly equal to the maximum EUSA drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for EQAL and EUSA.

Loading charts...

Drawdown Indicators

EQALEUSADifference

Max Drawdown

Largest peak-to-trough decline

-40.44%

-39.16%

-1.28%

Max Drawdown (1Y)

Largest decline over 1 year

-6.67%

-7.82%

+1.15%

Max Drawdown (3Y)

Largest decline over 3 years

-19.62%

-18.20%

-1.42%

Max Drawdown (5Y)

Largest decline over 5 years

-21.79%

-25.24%

+3.45%

Max Drawdown (10Y)

Largest decline over 10 years

-40.44%

-39.16%

-1.28%

Current Drawdown

Current decline from peak

-0.85%

-1.20%

+0.35%

Average Drawdown

Average peak-to-trough decline

-5.03%

-4.56%

-0.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.84%

1.95%

-0.11%

Volatility

EQAL vs. EUSA - Volatility Comparison

The current volatility for Invesco Russell 1000 Equal Weight ETF (EQAL) is 2.24%, while iShares MSCI USA Equal Weighted ETF (EUSA) has a volatility of 2.77%. This indicates that EQAL experiences smaller price fluctuations and is considered to be less risky than EUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EQALEUSADifference

Volatility (1M)

Calculated over the trailing 1-month period

2.24%

2.77%

-0.53%

Volatility (6M)

Calculated over the trailing 6-month period

8.59%

8.90%

-0.31%

Volatility (1Y)

Calculated over the trailing 1-year period

12.14%

11.97%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.20%

16.95%

+0.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.78%

18.28%

+0.50%

EQAL vs. EUSA - Expense Ratio Comparison

EQAL has a 0.20% expense ratio, which is higher than EUSA's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EQAL vs. EUSA - Dividend Comparison

EQAL's dividend yield for the trailing twelve months is around 1.69%, more than EUSA's 1.45% yield.

PositionTTM20252024202320222021202020192018201720162015
EQAL
Invesco Russell 1000 Equal Weight ETF		1.69%1.79%1.62%1.88%1.95%1.32%1.63%1.61%1.62%1.18%1.57%1.64%
EUSA
iShares MSCI USA Equal Weighted ETF		1.45%1.63%1.47%1.53%1.73%1.23%1.45%1.49%2.01%1.50%1.59%2.21%

Frequently Asked Questions

With a correlation of 0.94, EQAL and EUSA 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.

EUSA has higher volatility (2.77%) compared to EQAL (2.24%). In terms of maximum drawdown, EQAL dropped -40.44% vs EUSA's -39.16%.

On 10-year performance, EUSA leads with 11.50% vs 10.52% for EQAL. On fees, EUSA is cheaper at 0.09% per year. On volatility, EQAL has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EUSA has performed better with a 11.50% return vs 10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUSA is cheaper with a 0.09% expense ratio, compared with 0.20% for EQAL.

EQAL has the higher dividend yield at 1.69%, compared with 1.45% for EUSA.

EQAL tracks Russell 1000 Equal Weight Index, while EUSA tracks MSCI USA Equal Weighted Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for EQAL and 0.09% for EUSA.

EQAL currently has the higher Sharpe Ratio (1.76 vs 1.35), 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.

Portfolio Optimizer

Find the right allocation for EQAL and EUSA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer