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

EQL.TO vs. VSP.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) and Vanguard S&P 500 CAD-hedged ETF (VSP.TO).

EQL.TO and VSP.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQL.TO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on May 29, 2018. VSP.TO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Nov 2, 2012. Both EQL.TO and VSP.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EQL.TO vs. VSP.TO - 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 Vanguard S&P 500 CAD-hedged ETF (VSP.TO). The values are adjusted to include any dividend payments, if applicable.

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EQL.TO vs. VSP.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EQL.TO
Invesco S&P 500 Equal Weight Index ETF CAD		1.77%5.94%27.38%19.69%1.21%37.03%21.67%31.63%-4.48%
VSP.TO
Vanguard S&P 500 CAD-hedged ETF		-4.82%15.49%23.68%24.16%-19.24%27.90%15.32%30.18%-8.38%

Returns By Period

In the year-to-date period, EQL.TO achieves a 1.77% return, which is significantly higher than VSP.TO's -4.82% return.

EQL.TO

1D
2.02%
1M
-4.20%
YTD
1.77%
6M
1.79%
1Y
8.58%
3Y*
16.16%
5Y*
15.15%
10Y*
—

VSP.TO

1D
3.15%
1M
-5.06%
YTD
-4.82%
6M
-2.72%
1Y
15.55%
3Y*
16.44%
5Y*
10.21%
10Y*
12.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Invesco S&P 500 Equal Weight Index ETF CAD

Vanguard S&P 500 CAD-hedged ETF

Often compared with EQL.TO:
EQL.TO vs. VFV.TOEQL.TO vs. ZDJ.TOEQL.TO vs. VIU.TOEQL.TO vs. ZSP.TOEQL.TO vs. XGI.TOEQL.TO vs. XMAGEQL.TO vs. CIF.TO
Often compared with VSP.TO:
VSP.TO vs. VFV.TOVSP.TO vs. XSP.TOVSP.TO vs. ZSP.TOVSP.TO vs. VOOVSP.TO vs. SPYVSP.TO vs. VTIVSP.TO vs. QQQ

EQL.TO vs. VSP.TO - Expense Ratio Comparison

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

EQL.TO
Invesco S&P 500 Equal Weight Index ETF CAD
VSP.TO
Vanguard S&P 500 CAD-hedged ETF

Return for Risk

EQL.TO vs. VSP.TO — 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: 3030
Overall Rank
EQL.TO Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
EQL.TO Sortino Ratio Rank: 2727
Sortino Ratio Rank
EQL.TO Omega Ratio Rank: 2828
Omega Ratio Rank
EQL.TO Calmar Ratio Rank: 3232
Calmar Ratio Rank
EQL.TO Martin Ratio Rank: 3333
Martin Ratio Rank
VSP.TO
VSP.TO Risk / Return Rank: 5757
Overall Rank
VSP.TO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VSP.TO Sortino Ratio Rank: 5454
Sortino Ratio Rank
VSP.TO Omega Ratio Rank: 5858
Omega Ratio Rank
VSP.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
VSP.TO Martin Ratio Rank: 6666
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. VSP.TO - 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 Vanguard S&P 500 CAD-hedged ETF (VSP.TO). 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.TOVSP.TODifference

Sharpe ratio

Return per unit of total volatility

0.49

0.86

-0.37

Sortino ratio

Return per unit of downside risk

0.78

1.35

-0.57

Omega ratio

Gain probability vs. loss probability

1.11

1.20

-0.09

Calmar ratio

Return relative to maximum drawdown

0.77

1.34

-0.57

Martin ratio

Return relative to average drawdown

2.92

6.22

-3.30

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. VSP.TO - Sharpe Ratio Comparison

The current EQL.TO Sharpe Ratio is 0.49, which is lower than the VSP.TO Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of EQL.TO and VSP.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

EQL.TOVSP.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.49

0.86

-0.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.05

0.61

+0.44

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.70

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.00

0.78

+0.22

Correlation

The correlation between EQL.TO and VSP.TO is 0.75, 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.

Dividends

EQL.TO vs. VSP.TO - Dividend Comparison

EQL.TO's dividend yield for the trailing twelve months is around 1.37%, more than VSP.TO's 0.97% yield.

TTM20252024202320222021202020192018201720162015
EQL.TO
Invesco S&P 500 Equal Weight Index ETF CAD		1.37%1.38%5.37%8.14%8.91%7.19%9.96%8.29%1.35%0.00%0.00%0.00%
VSP.TO
Vanguard S&P 500 CAD-hedged ETF		0.97%0.92%1.07%1.17%1.37%1.07%1.27%1.52%1.76%1.46%1.69%1.75%

Drawdowns

EQL.TO vs. VSP.TO - Drawdown Comparison

The maximum EQL.TO drawdown since its inception was -30.47%, smaller than the maximum VSP.TO drawdown of -35.55%. Use the drawdown chart below to compare losses from any high point for EQL.TO and VSP.TO.

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Drawdown Indicators

EQL.TOVSP.TODifference

Max Drawdown

Largest peak-to-trough decline

-30.47%

-35.55%

+5.08%

Max Drawdown (1Y)

Largest decline over 1 year

-13.01%

-12.07%

-0.94%

Max Drawdown (5Y)

Largest decline over 5 years

-17.60%

-25.54%

+7.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.55%

—

Current Drawdown

Current decline from peak

-4.34%

-6.55%

+2.21%

Average Drawdown

Average peak-to-trough decline

-3.23%

-4.04%

+0.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

2.60%

+0.82%

Volatility

EQL.TO vs. VSP.TO - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight Index ETF CAD (EQL.TO) is 4.61%, while Vanguard S&P 500 CAD-hedged ETF (VSP.TO) has a volatility of 5.50%. This indicates that EQL.TO experiences smaller price fluctuations and is considered to be less risky than VSP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EQL.TOVSP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

5.50%

-0.89%

Volatility (6M)

Calculated over the trailing 6-month period

9.37%

9.47%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

17.59%

18.12%

-0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.51%

16.82%

-2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

17.96%

-0.50%