EQL vs. ^SPXEW

Last updated Apr 2, 2026

Compare and contrast key facts about Alps Equal Sector Weight ETF (EQL) and S&P 500 Equal Weighted Index (^SPXEW).

EQL is a passively managed fund by SS&C that tracks the performance of the NYSE Select Sector Equal Weight Index. It was launched on Jul 7, 2009.

Performance

EQL vs. ^SPXEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alps Equal Sector Weight ETF (EQL) and S&P 500 Equal Weighted Index (^SPXEW). The values are adjusted to include any dividend payments, if applicable.

EQL vs. ^SPXEW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQL Alps Equal Sector Weight ETF	3.18%	13.09%	16.44%	16.87%	-10.72%	29.32%	10.87%	27.87%	-6.12%	18.37%
^SPXEW S&P 500 Equal Weighted Index	0.50%	9.34%	10.90%	11.56%	-13.11%	27.48%	10.47%	26.57%	-9.43%	16.68%

Returns By Period

In the year-to-date period, EQL achieves a 3.18% return, which is significantly higher than ^SPXEW's 0.50% return. Over the past 10 years, EQL has outperformed ^SPXEW with an annualized return of 12.17%, while ^SPXEW has yielded a comparatively lower 9.30% annualized return.

EQL

• 1D: 0.23%
• 1M: -4.16%
• YTD: 3.18%
• 6M: 4.20%
• 1Y: 15.32%
• 3Y*: 14.94%
• 5Y*: 10.72%
• 10Y*: 12.17%

^SPXEW

• 1D: 0.32%
• 1M: -5.69%
• YTD: 0.50%
• 6M: 1.23%
• 1Y: 10.97%
• 3Y*: 9.90%
• 5Y*: 6.06%
• 10Y*: 9.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

EQL vs. ^SPXEW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EQL

EQL Risk / Return Rank: 57
EQL Sharpe Ratio Rank: 56
EQL Sortino Ratio Rank: 56
EQL Omega Ratio Rank: 61
EQL Calmar Ratio Rank: 49
EQL Martin Ratio Rank: 62

^SPXEW

^SPXEW Risk / Return Rank: 40
^SPXEW Sharpe Ratio Rank: 40
^SPXEW Sortino Ratio Rank: 39
^SPXEW Omega Ratio Rank: 42
^SPXEW Calmar Ratio Rank: 37
^SPXEW Martin Ratio Rank: 44

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 vs. ^SPXEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alps Equal Sector Weight ETF (EQL) and S&P 500 Equal Weighted Index (^SPXEW). 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	^SPXEW	Difference
Sharpe ratio Return per unit of total volatility	1.03	0.64	+0.39
Sortino ratio Return per unit of downside risk	1.50	1.02	+0.48
Omega ratio Gain probability vs. loss probability	1.23	1.14	+0.09
Calmar ratio Return relative to maximum drawdown	1.31	0.88	+0.43
Martin ratio Return relative to average drawdown	6.43	3.88	+2.55
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 vs. ^SPXEW - Sharpe Ratio Comparison

The current EQL Sharpe Ratio is 1.03, which is higher than the ^SPXEW Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of EQL and ^SPXEW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EQL	^SPXEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	0.64	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.37	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.51	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.48	+0.36

Correlation

The correlation between EQL and ^SPXEW is 0.94, 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.

Drawdowns

EQL vs. ^SPXEW - Drawdown Comparison

The maximum EQL drawdown since its inception was -35.65%, smaller than the maximum ^SPXEW drawdown of -60.83%. Use the drawdown chart below to compare losses from any high point for EQL and ^SPXEW.

Drawdown Indicators

	EQL	^SPXEW	Difference
Max Drawdown Largest peak-to-trough decline	-35.65%	-60.83%	+25.18%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-12.61%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-19.24%	-22.47%	+3.23%
Max Drawdown (10Y) Largest decline over 10 years	-35.65%	-39.21%	+3.56%
Current Drawdown Current decline from peak	-4.27%	-5.88%	+1.61%
Average Drawdown Average peak-to-trough decline	-3.28%	-7.05%	+3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.86%	-0.44%

Volatility

EQL vs. ^SPXEW - Volatility Comparison

The current volatility for Alps Equal Sector Weight ETF (EQL) is 3.88%, while S&P 500 Equal Weighted Index (^SPXEW) has a volatility of 4.39%. This indicates that EQL experiences smaller price fluctuations and is considered to be less risky than ^SPXEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQL	^SPXEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	4.39%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	7.31%	8.87%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	17.19%	-2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	16.26%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	18.43%	-1.88%