EQWL vs. OEF
EQWL (Invesco S&P 100 Equal Weight ETF) and OEF (iShares S&P 100 ETF) are both Large Cap Blend Equities funds - EQWL tracks the S&P 100 Equal Weight Index while OEF tracks the S&P 100 Index. Both are passively managed. Over the past 10 years, EQWL returned 15.20%/yr vs 16.70%/yr for OEF. Their correlation of 0.82 suggests significant overlap in exposure. EQWL charges 0.25%/yr vs 0.20%/yr for OEF.
Performance
EQWL vs. OEF - Performance Comparison
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Returns By Period
In the year-to-date period, EQWL achieves a 9.54% return, which is significantly higher than OEF's 4.75% return. Over the past 10 years, EQWL has underperformed OEF with an annualized return of 15.20%, while OEF has yielded a comparatively higher 16.70% annualized return.
EQWL
- 1D
- 0.53%
- 1M
- 1.14%
- YTD
- 9.54%
- 6M
- 8.50%
- 1Y
- 20.88%
- 3Y*
- 19.45%
- 5Y*
- 11.95%
- 10Y*
- 15.20%
OEF
- 1D
- -0.48%
- 1M
- -3.99%
- YTD
- 4.75%
- 6M
- 3.58%
- 1Y
- 20.85%
- 3Y*
- 22.33%
- 5Y*
- 14.23%
- 10Y*
- 16.70%
EQWL vs. OEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EQWL Invesco S&P 100 Equal Weight ETF | 9.54% | 17.61% | 19.11% | 19.48% | -11.46% | 28.29% | 13.94% | 29.54% | -6.30% | 24.41% |
OEF iShares S&P 100 ETF | 4.75% | 19.80% | 30.74% | 32.71% | -21.03% | 29.18% | 21.21% | 31.87% | -4.16% | 21.82% |
Correlation
The correlation between EQWL and OEF is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2006 | 0.82 |
The correlation between EQWL and OEF shifts across timeframes, from 0.72 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EQWL vs. OEF — Risk / Return Rank
EQWL
OEF
EQWL vs. OEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 100 Equal Weight ETF (EQWL) and iShares S&P 100 ETF (OEF). 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.
| EQWL | OEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.28 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 1.89 | +0.81 |
| Martin ratioReturn relative to average drawdown | 11.27 | 7.56 | +3.71 |
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Drawdowns
EQWL vs. OEF - Drawdown Comparison
The maximum EQWL drawdown since its inception was -49.36%, smaller than the maximum OEF drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for EQWL and OEF.
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Drawdown Indicators
| EQWL | OEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.36% | -54.11% | +4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -11.06% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -19.80% | +4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -26.47% | +3.48% |
Max Drawdown (10Y)Largest decline over 10 years | -34.30% | -31.44% | -2.86% |
Current DrawdownCurrent decline from peak | -0.90% | -5.24% | +4.34% |
Average DrawdownAverage peak-to-trough decline | -6.68% | -11.74% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.76% | -0.90% |
Volatility
EQWL vs. OEF - Volatility Comparison
The current volatility for Invesco S&P 100 Equal Weight ETF (EQWL) is 3.83%, while iShares S&P 100 ETF (OEF) has a volatility of 5.22%. This indicates that EQWL experiences smaller price fluctuations and is considered to be less risky than OEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EQWL | OEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 5.22% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 10.54% | -2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 13.37% | -2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.04% | 17.81% | -2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 18.47% | -1.69% |
EQWL vs. OEF - Expense Ratio Comparison
EQWL has a 0.25% expense ratio, which is higher than OEF's 0.20% 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%.
Dividends
EQWL vs. OEF - Dividend Comparison
EQWL's dividend yield for the trailing twelve months is around 1.59%, more than OEF's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EQWL Invesco S&P 100 Equal Weight ETF | 1.59% | 1.67% | 1.86% | 1.97% | 2.12% | 1.65% | 2.01% | 2.04% | 2.23% | 1.27% | 2.01% | 2.03% |
OEF iShares S&P 100 ETF | 0.90% | 0.81% | 1.03% | 1.19% | 1.55% | 1.06% | 1.43% | 1.87% | 2.09% | 1.81% | 2.07% | 2.11% |
Frequently Asked Questions
EQWL and OEF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OEF has higher volatility (5.22%) compared to EQWL (3.83%). In terms of maximum drawdown, EQWL dropped -49.36% vs OEF's -54.11%.
On 10-year performance, OEF leads with 16.70% vs 15.20% for EQWL. On fees, OEF is cheaper at 0.20% per year. On volatility, EQWL has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, OEF has performed better with a 16.70% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OEF is cheaper with a 0.20% expense ratio, compared with 0.25% for EQWL.
EQWL has the higher dividend yield at 1.59%, compared with 0.90% for OEF.
EQWL tracks S&P 100 Equal Weight Index, while OEF tracks S&P 100 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for EQWL and 0.20% for OEF.
EQWL currently has the higher Sharpe Ratio (1.97 vs 1.57), 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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