EQTY vs. USPX

Last updated Jun 4, 2026

EQTY (Kovitz Core Equity ETF) and USPX (Franklin U.S. Equity Index ETF) are both Large Cap Blend Equities funds - EQTY tracks the NONE while USPX tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 3 years, EQTY returned 15.88%/yr vs 22.42%/yr for USPX. Their correlation of 0.89 suggests significant overlap in exposure. EQTY charges 0.99%/yr vs 0.03%/yr for USPX.

Performance

EQTY vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kovitz Core Equity ETF (EQTY) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQTY achieves a 1.88% return, which is significantly lower than USPX's 10.64% return.

EQTY

• 1D: -0.36%
• 1M: 1.29%
• YTD: 1.88%
• 6M: 3.56%
• 1Y: 14.80%
• 3Y*: 15.88%
• 5Y*: —
• 10Y*: —

USPX

• 1D: -0.75%
• 1M: 5.12%
• YTD: 10.64%
• 6M: 10.50%
• 1Y: 27.42%
• 3Y*: 22.42%
• 5Y*: 12.39%
• 10Y*: —

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

EQTY vs. USPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EQTY Kovitz Core Equity ETF	1.88%	13.63%	19.89%	26.97%	-3.83%
USPX Franklin U.S. Equity Index ETF	10.64%	17.78%	24.97%	27.07%	-3.75%

Correlation

The correlation between EQTY and USPX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.89

The correlation between EQTY and USPX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

EQTY vs. USPX - Sectors Allocation Comparison

Sectors	EQTY	USPX
Technology	23.8%	35.4%
Financial Services	19.0%	11.8%
Industrials	16.3%	8.4%
Healthcare	14.3%	8.6%
Communication Services	11.1%	11.5%
Consumer Cyclical	10.0%	10.1%
Consumer Defensive	4.0%	4.8%
Energy	1.5%	3.6%
Basic Materials	-	1.7%
Real Estate	-	1.8%
Utilities	-	2.3%

Return for Risk

EQTY vs. USPX — Risk / Return Rank

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

EQTY

EQTY Risk / Return Rank: 31
EQTY Sharpe Ratio Rank: 33
EQTY Sortino Ratio Rank: 32
EQTY Omega Ratio Rank: 31
EQTY Calmar Ratio Rank: 27
EQTY Martin Ratio Rank: 32

USPX

USPX Risk / Return Rank: 68
USPX Sharpe Ratio Rank: 69
USPX Sortino Ratio Rank: 68
USPX Omega Ratio Rank: 68
USPX Calmar Ratio Rank: 61
USPX Martin Ratio Rank: 73

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.

EQTY vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kovitz Core Equity ETF (EQTY) and Franklin U.S. Equity Index ETF (USPX). 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.

	EQTY	USPX	Difference
Sharpe ratio Return per unit of total volatility	1.16	2.28	-1.12
Sortino ratio Return per unit of downside risk	1.71	3.12	-1.41
Omega ratio Gain probability vs. loss probability	1.21	1.41	-0.20
Calmar ratio Return relative to maximum drawdown	1.25	3.01	-1.76
Martin ratio Return relative to average drawdown	4.66	13.72	-9.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQTY vs. USPX - Sharpe Ratio Comparison

The current EQTY Sharpe Ratio is 1.16, which is lower than the USPX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of EQTY and USPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQTY	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.28	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.80	+0.30

Drawdowns

EQTY vs. USPX - Drawdown Comparison

The maximum EQTY drawdown since its inception was -17.28%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for EQTY and USPX.

Drawdown Indicators

	EQTY	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-17.28%	-31.21%	+13.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-9.15%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	-17.28%	-19.21%	+1.93%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.21%	—
Current Drawdown Current decline from peak	-2.26%	-0.75%	-1.51%
Average Drawdown Average peak-to-trough decline	-2.71%	-4.44%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	2.00%	+1.19%

Volatility

EQTY vs. USPX - Volatility Comparison

The current volatility for Kovitz Core Equity ETF (EQTY) is 2.58%, while Franklin U.S. Equity Index ETF (USPX) has a volatility of 2.87%. This indicates that EQTY experiences smaller price fluctuations and is considered to be less risky than USPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQTY	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.87%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	9.16%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	12.09%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	16.17%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	15.92%	-0.97%

EQTY vs. USPX - Expense Ratio Comparison

EQTY has a 0.99% expense ratio, which is higher than USPX's 0.03% expense ratio.

Dividends

EQTY vs. USPX - Dividend Comparison

EQTY's dividend yield for the trailing twelve months is around 0.02%, less than USPX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EQTY Kovitz Core Equity ETF	0.02%	0.02%	0.33%	0.26%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.04%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Frequently Asked Questions

Can I hold both EQTY and USPX in my portfolio?

EQTY and USPX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQTY or USPX?

USPX has higher volatility (2.87%) compared to EQTY (2.58%). In terms of maximum drawdown, EQTY dropped -17.28% vs USPX's -31.21%.

Which ETF is better, EQTY or USPX?

On 3-year performance, USPX leads with 22.42% vs 15.88% for EQTY. On fees, USPX is cheaper at 0.03% per year. On volatility, EQTY has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQTY or USPX?

Over the 3-year period, USPX has performed better with a 22.42% return vs 15.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQTY or USPX?

USPX is cheaper with a 0.03% expense ratio, compared with 0.99% for EQTY.

Which ETF pays a higher dividend yield, EQTY or USPX?

USPX has the higher dividend yield at 1.04%, compared with 0.02% for EQTY.

What is the main difference between EQTY and USPX?

EQTY tracks NONE, while USPX tracks Morningstar US Target Market Exposure Index. They also come from different issuers: Kovitz and Franklin Templeton. Their fees differ too: 0.99% for EQTY and 0.03% for USPX.

Which has better risk-adjusted returns?

USPX currently has the higher Sharpe Ratio (2.28 vs 1.16), 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.