EQL vs. ^SPXEW
EQL (ALPS Equal Sector Weight ETF) is Large Cap Blend Equities fund tracking the NYSE Equal Sector Weight Index, while ^SPXEW (S&P 500 Equal Weighted Index) is an index. Over the past 10 years, EQL returned 12.66%/yr vs 10.30%/yr for ^SPXEW. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
EQL vs. ^SPXEW - Performance Comparison
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Returns By Period
In the year-to-date period, EQL achieves a 8.44% return, which is significantly lower than ^SPXEW's 9.06% return. Over the past 10 years, EQL has outperformed ^SPXEW with an annualized return of 12.66%, while ^SPXEW has yielded a comparatively lower 10.30% annualized return.
EQL
- 1D
- -0.34%
- 1M
- -0.97%
- YTD
- 8.44%
- 6M
- 7.90%
- 1Y
- 17.48%
- 3Y*
- 15.88%
- 5Y*
- 10.58%
- 10Y*
- 12.66%
^SPXEW
- 1D
- -0.37%
- 1M
- 1.32%
- YTD
- 9.06%
- 6M
- 8.13%
- 1Y
- 16.95%
- 3Y*
- 12.90%
- 5Y*
- 6.79%
- 10Y*
- 10.30%
EQL vs. ^SPXEW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EQL ALPS Equal Sector Weight ETF | 8.44% | 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 | 9.06% | 9.34% | 10.90% | 11.56% | -13.11% | 27.48% | 10.47% | 27.57% | -10.14% | 16.68% |
Correlation
The correlation between EQL and ^SPXEW is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2009 | 0.94 |
The correlation between EQL and ^SPXEW has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
EQL vs. ^SPXEW — Risk / Return Rank
EQL
^SPXEW
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EQL | ^SPXEW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.12 | +0.72 |
| Martin ratioReturn relative to average drawdown | 10.95 | 7.90 | +3.04 |
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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.
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Drawdown Indicators
| EQL | ^SPXEW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.65% | -60.83% | +25.18% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -8.03% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -18.31% | +3.24% |
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 DrawdownCurrent decline from peak | -1.76% | -1.53% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -8.17% | +4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.15% | -0.55% |
Volatility
EQL vs. ^SPXEW - Volatility Comparison
The current volatility for ALPS Equal Sector Weight ETF (EQL) is 3.08%, while S&P 500 Equal Weighted Index (^SPXEW) has a volatility of 3.68%. 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.
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Volatility by Period
| EQL | ^SPXEW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 3.68% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 8.76% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.59% | 11.89% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.56% | 16.28% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 18.38% | -1.84% |
Frequently Asked Questions
With a correlation of 0.93, EQL and ^SPXEW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
^SPXEW has higher volatility (3.68%) compared to EQL (3.08%). In terms of maximum drawdown, EQL dropped -35.65% vs ^SPXEW's -60.83%.
EQL currently has the higher Sharpe Ratio (1.84 vs 1.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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