EQWL vs. BIREX

Last updated Jun 5, 2026

EQWL (Invesco S&P 100 Equal Weight ETF) and BIREX (BlackRock Real Estate Securities Fund) are both funds - EQWL is a Large Cap Blend Equities fund tracking the S&P 100 Equal Weight Index, while BIREX is a REIT fund managed by BlackRock. Over the past 10 years, EQWL returned 14.47%/yr vs 6.43%/yr for BIREX. A 0.57 correlation means they provide meaningful diversification when combined. EQWL charges 0.25%/yr vs 0.75%/yr for BIREX.

Performance

EQWL vs. BIREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 100 Equal Weight ETF (EQWL) and BlackRock Real Estate Securities Fund (BIREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQWL achieves a 9.48% return, which is significantly lower than BIREX's 12.31% return. Over the past 10 years, EQWL has outperformed BIREX with an annualized return of 14.47%, while BIREX has yielded a comparatively lower 6.43% annualized return.

EQWL

• 1D: 0.68%
• 1M: 4.61%
• YTD: 9.48%
• 6M: 10.19%
• 1Y: 22.95%
• 3Y*: 20.06%
• 5Y*: 11.94%
• 10Y*: 14.47%

BIREX

• 1D: -0.06%
• 1M: -0.42%
• YTD: 12.31%
• 6M: 11.54%
• 1Y: 14.24%
• 3Y*: 10.52%
• 5Y*: 3.23%
• 10Y*: 6.43%

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

EQWL vs. BIREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQWL Invesco S&P 100 Equal Weight ETF	9.48%	17.61%	19.11%	19.48%	-11.46%	28.29%	13.94%	29.54%	-6.30%	24.41%
BIREX BlackRock Real Estate Securities Fund	12.31%	3.08%	3.75%	13.57%	-27.58%	46.24%	-4.17%	27.75%	-2.95%	6.19%

Correlation

The correlation between EQWL and BIREX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.57

The correlation between EQWL and BIREX shifts across timeframes, from 0.51 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EQWL vs. BIREX — Risk / Return Rank

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

EQWL

EQWL Risk / Return Rank: 67
EQWL Sharpe Ratio Rank: 69
EQWL Sortino Ratio Rank: 70
EQWL Omega Ratio Rank: 66
EQWL Calmar Ratio Rank: 61
EQWL Martin Ratio Rank: 69

BIREX

BIREX Risk / Return Rank: 19
BIREX Sharpe Ratio Rank: 16
BIREX Sortino Ratio Rank: 15
BIREX Omega Ratio Rank: 15
BIREX Calmar Ratio Rank: 23
BIREX Martin Ratio Rank: 24

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.

EQWL vs. BIREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 100 Equal Weight ETF (EQWL) and BlackRock Real Estate Securities Fund (BIREX). 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.

	EQWL	BIREX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.11	+1.11
Sortino ratio: Return per unit of downside risk	3.12	1.56	+1.56
Omega ratio: Gain probability vs. loss probability	1.39	1.20	+0.19
Calmar ratio: Return relative to maximum drawdown	2.97	1.77	+1.20
Martin ratio: Return relative to average drawdown	12.52	5.84	+6.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQWL vs. BIREX - Sharpe Ratio Comparison

The current EQWL Sharpe Ratio is 2.22, which is higher than the BIREX Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of EQWL and BIREX, 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

	EQWL	BIREX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	1.11	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.17	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.31	+0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.39	+0.20

Drawdowns

EQWL vs. BIREX - Drawdown Comparison

The maximum EQWL drawdown since its inception was -49.36%, which is greater than BIREX's maximum drawdown of -41.92%. Use the drawdown chart below to compare losses from any high point for EQWL and BIREX.

Drawdown Indicators

	EQWL	BIREX	Difference
Max Drawdown Largest peak-to-trough decline	-49.36%	-41.92%	-7.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-8.16%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-18.05%	+3.10%
Max Drawdown (5Y) Largest decline over 5 years	-22.99%	-34.76%	+11.77%
Max Drawdown (10Y) Largest decline over 10 years	-34.30%	-41.92%	+7.62%
Current Drawdown Current decline from peak	0.00%	-2.47%	+2.47%
Average Drawdown Average peak-to-trough decline	-6.70%	-9.73%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.47%	-0.63%

Volatility

EQWL vs. BIREX - Volatility Comparison

The current volatility for Invesco S&P 100 Equal Weight ETF (EQWL) is 2.61%, while BlackRock Real Estate Securities Fund (BIREX) has a volatility of 3.74%. This indicates that EQWL experiences smaller price fluctuations and is considered to be less risky than BIREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQWL	BIREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	3.74%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	9.45%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	13.00%	-2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.98%	18.75%	-3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	20.89%	-4.10%

EQWL vs. BIREX - Expense Ratio Comparison

EQWL has a 0.25% expense ratio, which is lower than BIREX's 0.75% expense ratio.

Dividends

EQWL vs. BIREX - Dividend Comparison

EQWL's dividend yield for the trailing twelve months is around 1.53%, less than BIREX's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIREX BlackRock Real Estate Securities Fund	2.71%	2.98%	2.88%	2.87%	4.36%	1.63%	2.16%	1.93%	3.07%	9.88%	6.72%	6.75%
EQWL Invesco S&P 100 Equal Weight ETF	1.53%	1.67%	1.86%	1.97%	2.12%	1.65%	2.01%	2.04%	2.23%	1.27%	2.01%	2.03%

Frequently Asked Questions

Can I hold both EQWL and BIREX in my portfolio?

EQWL and BIREX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQWL or BIREX?

BIREX has higher volatility (3.74%) compared to EQWL (2.61%). In terms of maximum drawdown, EQWL dropped -49.36% vs BIREX's -41.92%.

Which has better risk-adjusted returns?

EQWL currently has the higher Sharpe Ratio (2.22 vs 1.11), 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.