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EQL.TO vs. SPXT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EQL.TO vs. SPXT

Last updated Jun 4, 2026

EQL.TO (Invesco S&P 500 Equal Weight Index ETF CAD) and SPXT (ProShares S&P 500 Ex-Technology ETF) are both S&P 500 funds - EQL.TO tracks the S&P 500 Equal Weight Index while SPXT tracks the S&P 500 Ex-Information Technology Index. Both are passively managed. Over the past 5 years, EQL.TO returned 16.55%/yr vs 12.28%/yr for SPXT. A 0.78 correlation means they provide meaningful diversification when combined. EQL.TO charges 0.25%/yr vs 0.09%/yr for SPXT.

Performance

EQL.TO vs. SPXT - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) and ProShares S&P 500 Ex-Technology ETF (SPXT). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EQL.TO is traded in CAD, while SPXT is traded in USD. To make them comparable, the SPXT values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EQL.TO achieves a 10.79% return, which is significantly higher than SPXT's 4.01% return.

EQL.TO

1D
0.02%
1M
5.96%
YTD
10.79%
6M
9.50%
1Y
20.53%
3Y*
20.00%
5Y*
16.55%
10Y*
—

SPXT

1D
0.26%
1M
0.55%
YTD
4.01%
6M
2.99%
1Y
16.50%
3Y*
17.69%
5Y*
12.28%
10Y*
12.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EQL.TO vs. SPXT - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EQL.TO
Invesco S&P 500 Equal Weight Index ETF CAD		10.79%5.94%27.38%19.69%1.21%37.03%21.67%31.63%-4.48%
SPXT
ProShares S&P 500 Ex-Technology ETF		4.01%9.82%30.23%13.67%-8.13%25.22%8.57%20.64%-1.33%

Correlation

The correlation between EQL.TO and SPXT is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.81

Correlation (5Y)
Calculated over the trailing 5-year period

0.84

Correlation (All Time)
Calculated using the full available price history since May 31, 2018

0.78

The correlation between EQL.TO and SPXT has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

EQL.TO vs. SPXT - Sectors Allocation Comparison

Sectors
EQL.TO
SPXT

Technology

18.3%
1.0%

Industrials

14.7%
12.2%

Financial Services

14.4%
18.0%

Healthcare

10.9%
13.5%

Consumer Cyclical

10.3%
15.9%

Consumer Defensive

6.5%
7.3%

Real Estate

6.2%
2.9%

Utilities

6.1%
4.1%

Energy

4.6%
5.1%

Basic Materials

4.1%
2.8%

Communication Services

4.0%
17.0%

Technology

EQL.TO
18.3%
SPXT
1.0%

Industrials

EQL.TO
14.7%
SPXT
12.2%

Financial Services

EQL.TO
14.4%
SPXT
18.0%

Healthcare

EQL.TO
10.9%
SPXT
13.5%

Consumer Cyclical

EQL.TO
10.3%
SPXT
15.9%

Consumer Defensive

EQL.TO
6.5%
SPXT
7.3%

Real Estate

EQL.TO
6.2%
SPXT
2.9%

Utilities

EQL.TO
6.1%
SPXT
4.1%

Energy

EQL.TO
4.6%
SPXT
5.1%

Basic Materials

EQL.TO
4.1%
SPXT
2.8%

Communication Services

EQL.TO
4.0%
SPXT
17.0%

Compare stocks, funds, or ETFs

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Invesco S&P 500 Equal Weight Index ETF CAD

ProShares S&P 500 Ex-Technology ETF

Often compared with EQL.TO:
EQL.TO vs. VFV.TOEQL.TO vs. ZDJ.TOEQL.TO vs. ZSP.TOEQL.TO vs. XMAGEQL.TO vs. VIU.TOEQL.TO vs. XGI.TOEQL.TO vs. CIF.TO
Often compared with SPXT:
SPXT vs. SPYSPXT vs. SPXCSPXT vs. XMAGSPXT vs. VOOSPXT vs. QQQSPXT vs. USMVSPXT vs. SPXV

Return for Risk

EQL.TO vs. SPXT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EQL.TO
EQL.TO Risk / Return Rank: 5454
Overall Rank
EQL.TO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
EQL.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
EQL.TO Omega Ratio Rank: 4848
Omega Ratio Rank
EQL.TO Calmar Ratio Rank: 6262
Calmar Ratio Rank
EQL.TO Martin Ratio Rank: 6161
Martin Ratio Rank
SPXT
SPXT Risk / Return Rank: 4141
Overall Rank
SPXT Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
SPXT Sortino Ratio Rank: 4141
Sortino Ratio Rank
SPXT Omega Ratio Rank: 3838
Omega Ratio Rank
SPXT Calmar Ratio Rank: 3838
Calmar Ratio Rank
SPXT Martin Ratio Rank: 4949
Martin Ratio Rank
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.

EQL.TO vs. SPXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) and ProShares S&P 500 Ex-Technology ETF (SPXT). 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.

EQL.TOSPXTDifference
Sharpe ratioReturn per unit of total volatility
1.73
1.60

+0.13

Sortino ratioReturn per unit of downside risk
2.51
2.26

+0.25

Omega ratioGain probability vs. loss probability

1.30

1.28

+0.02

Calmar ratioReturn relative to maximum drawdown

3.06

2.46

+0.61

Martin ratioReturn relative to average drawdown

10.94

9.41

+1.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQL.TO vs. SPXT - Sharpe Ratio Comparison

The current EQL.TO Sharpe Ratio is 1.73, which is comparable to the SPXT Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of EQL.TO and SPXT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EQL.TOSPXTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.73

1.60

+0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.14

0.96

+0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.82

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.05

0.81

+0.24

Drawdowns

EQL.TO vs. SPXT - Drawdown Comparison

The maximum EQL.TO drawdown since its inception was -30.47%, which is greater than SPXT's maximum drawdown of -28.21%. Use the drawdown chart below to compare losses from any high point for EQL.TO and SPXT.

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Drawdown Indicators

EQL.TOSPXTDifference

Max Drawdown

Largest peak-to-trough decline

-30.47%

-28.21%

-2.26%

Max Drawdown (1Y)

Largest decline over 1 year

-6.73%

-6.75%

+0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-17.25%

-16.85%

-0.40%

Max Drawdown (5Y)

Largest decline over 5 years

-17.60%

-19.12%

+1.52%

Max Drawdown (10Y)

Largest decline over 10 years

—

-28.21%

—

Current Drawdown

Current decline from peak

-0.45%

-2.01%

+1.56%

Average Drawdown

Average peak-to-trough decline

-3.19%

-3.72%

+0.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.88%

1.76%

+0.12%

Volatility

EQL.TO vs. SPXT - Volatility Comparison

Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) has a higher volatility of 3.86% compared to ProShares S&P 500 Ex-Technology ETF (SPXT) at 2.74%. This indicates that EQL.TO's price experiences larger fluctuations and is considered to be riskier than SPXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EQL.TOSPXTDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.86%

2.74%

+1.12%

Volatility (6M)

Calculated over the trailing 6-month period

8.98%

7.70%

+1.28%

Volatility (1Y)

Calculated over the trailing 1-year period

11.99%

10.37%

+1.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.54%

12.81%

+1.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.35%

14.88%

+2.47%

EQL.TO vs. SPXT - Expense Ratio Comparison

EQL.TO has a 0.25% expense ratio, which is higher than SPXT'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

EQL.TO vs. SPXT - Dividend Comparison

EQL.TO's dividend yield for the trailing twelve months is around 1.26%, less than SPXT's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
EQL.TO
Invesco S&P 500 Equal Weight Index ETF CAD		1.26%1.38%5.37%8.14%8.91%7.19%9.96%8.29%1.35%0.00%0.00%0.00%
SPXT
ProShares S&P 500 Ex-Technology ETF		1.39%1.38%1.29%1.53%1.86%1.15%1.63%1.63%2.03%1.55%2.67%0.56%

Frequently Asked Questions

EQL.TO and SPXT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPXT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPXT is cheaper with a 0.09% expense ratio, compared with 0.25% for EQL.TO.

EQL.TO tracks S&P 500 Equal Weight Index, while SPXT tracks S&P 500 Ex-Information Technology Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.25% for EQL.TO and 0.09% for SPXT.

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