EQAL vs. XYLD
Compare and contrast key facts about Invesco Russell 1000 Equal Weight ETF (EQAL) and Global X S&P 500 Covered Call ETF (XYLD).
EQAL and XYLD 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. XYLD is a passively managed fund by Global X that tracks the performance of the CBOE S&P 500 2% OTM BuyWrite Index. It was launched on Jun 24, 2013. Both EQAL and XYLD 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 XYLD.
Performance
EQAL vs. XYLD - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with EQAL having a 14.41% return and XYLD slightly higher at 14.66%.
EQAL
14.41%
0.48%
8.90%
25.47%
10.70%
N/A
XYLD
14.66%
0.50%
8.59%
17.79%
6.45%
6.67%
Key characteristics
| EQAL | XYLD | |
|---|---|---|
| Sharpe Ratio | 2.04 | 2.56 |
| Sortino Ratio | 2.83 | 3.48 |
| Omega Ratio | 1.36 | 1.66 |
| Calmar Ratio | 2.05 | 2.79 |
| Martin Ratio | 12.02 | 22.36 |
| Ulcer Index | 2.18% | 0.79% |
| Daily Std Dev | 12.87% | 6.94% |
| Max Drawdown | -40.44% | -33.46% |
| Current Drawdown | -2.18% | -1.14% |
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EQAL vs. XYLD - Expense Ratio Comparison
EQAL has a 0.20% expense ratio, which is lower than XYLD's 0.60% expense ratio.
Correlation
The correlation between EQAL and XYLD is 0.73, 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.
Risk-Adjusted Performance
EQAL vs. XYLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Russell 1000 Equal Weight ETF (EQAL) and Global X S&P 500 Covered Call ETF (XYLD). 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. XYLD - Dividend Comparison
EQAL's dividend yield for the trailing twelve months is around 1.58%, less than XYLD's 9.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EQAL Invesco Russell 1000 Equal Weight ETF | 1.58% | 1.88% | 1.95% | 1.32% | 1.63% | 1.62% | 1.63% | 1.18% | 1.57% | 1.64% | 0.00% | 0.00% |
XYLD Global X S&P 500 Covered Call ETF | 9.19% | 10.51% | 13.44% | 9.08% | 7.93% | 5.76% | 7.12% | 4.67% | 3.24% | 4.65% | 4.15% | 2.49% |
Drawdowns
EQAL vs. XYLD - Drawdown Comparison
The maximum EQAL drawdown since its inception was -40.44%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for EQAL and XYLD. For additional features, visit the drawdowns tool.
Volatility
EQAL vs. XYLD - Volatility Comparison
Invesco Russell 1000 Equal Weight ETF (EQAL) has a higher volatility of 3.78% compared to Global X S&P 500 Covered Call ETF (XYLD) at 2.51%. This indicates that EQAL's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.