EQAL vs. SPY
Compare and contrast key facts about Invesco Russell 1000 Equal Weight ETF (EQAL) and SPDR S&P 500 ETF (SPY).
EQAL and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQAL is a passively managed fund by Invesco that tracks the performance of the Russell 1000 Equal Weight Index. It was launched on Dec 23, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both EQAL and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EQAL or SPY.
Key characteristics
| EQAL | SPY | |
|---|---|---|
| YTD Return | 1.62% | 7.64% |
| 1Y Return | 11.56% | 24.41% |
| 3Y Return (Ann) | 1.66% | 8.54% |
| 5Y Return (Ann) | 8.41% | 13.66% |
| Sharpe Ratio | 0.91 | 2.21 |
| Daily Std Dev | 14.06% | 11.53% |
| Max Drawdown | -40.44% | -55.19% |
| Current Drawdown | -3.38% | -2.51% |
Correlation
The correlation between EQAL and SPY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
EQAL vs. SPY - Performance Comparison
In the year-to-date period, EQAL achieves a 1.62% return, which is significantly lower than SPY's 7.64% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EQAL vs. SPY - Expense Ratio Comparison
EQAL has a 0.20% expense ratio, which is higher than SPY'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%.
Risk-Adjusted Performance
EQAL vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Russell 1000 Equal Weight ETF (EQAL) and SPDR S&P 500 ETF (SPY). 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.
Dividends
EQAL vs. SPY - Dividend Comparison
EQAL's dividend yield for the trailing twelve months is around 1.83%, more than SPY's 1.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EQAL Invesco Russell 1000 Equal Weight ETF | 1.83% | 1.88% | 1.95% | 1.32% | 1.63% | 1.61% | 1.62% | 1.18% | 1.57% | 1.64% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.32% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
EQAL vs. SPY - Drawdown Comparison
The maximum EQAL drawdown since its inception was -40.44%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EQAL and SPY. For additional features, visit the drawdowns tool.
Volatility
EQAL vs. SPY - Volatility Comparison
Invesco Russell 1000 Equal Weight ETF (EQAL) and SPDR S&P 500 ETF (SPY) have volatilities of 3.68% and 3.61%, 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.