EQWL vs. USBOX

Last updated Jun 4, 2026

EQWL (Invesco S&P 100 Equal Weight ETF) and USBOX (Pear Tree Quality Fund) are both Large Cap Blend Equities funds. Over the past 10 years, EQWL returned 14.47%/yr vs 13.74%/yr for USBOX. Their correlation of 0.82 suggests significant overlap in exposure. EQWL charges 0.25%/yr vs 1.16%/yr for USBOX.

Performance

EQWL vs. USBOX - Performance Comparison

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

Returns By Period

In the year-to-date period, EQWL achieves a 8.74% return, which is significantly higher than USBOX's 5.23% return. Over the past 10 years, EQWL has outperformed USBOX with an annualized return of 14.47%, while USBOX has yielded a comparatively lower 13.74% annualized return.

EQWL

• 1D: -0.50%
• 1M: 4.84%
• YTD: 8.74%
• 6M: 9.31%
• 1Y: 21.89%
• 3Y*: 19.67%
• 5Y*: 11.79%
• 10Y*: 14.47%

USBOX

• 1D: -0.33%
• 1M: 4.04%
• YTD: 5.23%
• 6M: 5.80%
• 1Y: 19.32%
• 3Y*: 16.64%
• 5Y*: 9.53%
• 10Y*: 13.74%

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

EQWL vs. USBOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQWL Invesco S&P 100 Equal Weight ETF	8.74%	17.61%	19.11%	19.48%	-11.46%	28.29%	13.94%	29.54%	-6.30%	24.41%
USBOX Pear Tree Quality Fund	5.23%	15.77%	17.99%	29.20%	-16.25%	16.50%	18.06%	31.18%	-1.97%	28.49%

Correlation

The correlation between EQWL and USBOX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 4, 2006	0.82

The correlation between EQWL and USBOX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

EQWL vs. USBOX — Risk / Return Rank

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

EQWL

EQWL Risk / Return Rank: 61
EQWL Sharpe Ratio Rank: 62
EQWL Sortino Ratio Rank: 63
EQWL Omega Ratio Rank: 60
EQWL Calmar Ratio Rank: 56
EQWL Martin Ratio Rank: 64

USBOX

USBOX Risk / Return Rank: 26
USBOX Sharpe Ratio Rank: 30
USBOX Sortino Ratio Rank: 30
USBOX Omega Ratio Rank: 28
USBOX Calmar Ratio Rank: 18
USBOX 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. USBOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 100 Equal Weight ETF (EQWL) and Pear Tree Quality Fund (USBOX). 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	USBOX	Difference
Sharpe ratio Return per unit of total volatility	2.12	1.57	+0.55
Sortino ratio Return per unit of downside risk	2.99	2.25	+0.74
Omega ratio Gain probability vs. loss probability	1.38	1.27	+0.10
Calmar ratio Return relative to maximum drawdown	2.83	1.54	+1.29
Martin ratio Return relative to average drawdown	11.94	5.98	+5.95
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. USBOX - Sharpe Ratio Comparison

The current EQWL Sharpe Ratio is 2.12, which is higher than the USBOX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of EQWL and USBOX, 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	USBOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	1.57	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.60	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.80	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.47	+0.13

Drawdowns

EQWL vs. USBOX - Drawdown Comparison

The maximum EQWL drawdown since its inception was -49.36%, smaller than the maximum USBOX drawdown of -65.67%. Use the drawdown chart below to compare losses from any high point for EQWL and USBOX.

Drawdown Indicators

	EQWL	USBOX	Difference
Max Drawdown Largest peak-to-trough decline	-49.36%	-65.67%	+16.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-12.76%	+5.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-15.41%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-22.99%	-30.42%	+7.43%
Max Drawdown (10Y) Largest decline over 10 years	-34.30%	-30.42%	-3.88%
Current Drawdown Current decline from peak	-0.53%	-0.33%	-0.20%
Average Drawdown Average peak-to-trough decline	-6.70%	-17.11%	+10.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	3.27%	-1.43%

Volatility

EQWL vs. USBOX - Volatility Comparison

The current volatility for Invesco S&P 100 Equal Weight ETF (EQWL) is 2.66%, while Pear Tree Quality Fund (USBOX) has a volatility of 2.81%. This indicates that EQWL experiences smaller price fluctuations and is considered to be less risky than USBOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQWL	USBOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.81%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	7.66%	9.68%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	12.52%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.98%	16.08%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	17.15%	-0.36%

EQWL vs. USBOX - Expense Ratio Comparison

EQWL has a 0.25% expense ratio, which is lower than USBOX's 1.16% expense ratio.

Dividends

EQWL vs. USBOX - Dividend Comparison

EQWL's dividend yield for the trailing twelve months is around 1.54%, less than USBOX's 27.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQWL Invesco S&P 100 Equal Weight ETF	1.54%	1.67%	1.86%	1.97%	2.12%	1.65%	2.01%	2.04%	2.23%	1.27%	2.01%	2.03%
USBOX Pear Tree Quality Fund	27.72%	29.17%	8.71%	4.37%	14.55%	0.88%	7.47%	19.65%	15.43%	6.92%	6.19%	12.85%

Frequently Asked Questions

Can I hold both EQWL and USBOX in my portfolio?

EQWL and USBOX have a correlation of 0.79, 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 USBOX?

USBOX has higher volatility (2.81%) compared to EQWL (2.66%). In terms of maximum drawdown, EQWL dropped -49.36% vs USBOX's -65.67%.

Which has better risk-adjusted returns?

EQWL currently has the higher Sharpe Ratio (2.12 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.