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EUSA vs. EQAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUSA vs. EQAL

Last updated Jun 26, 2026

EUSA (iShares MSCI USA Equal Weighted ETF) and EQAL (Invesco Russell 1000 Equal Weight ETF) are both Mid Cap Blend Equities funds - EUSA tracks the MSCI USA Equal Weighted Index while EQAL tracks the Russell 1000 Equal Weight Index. Both are passively managed. Over the past 10 years, EUSA returned 12.28%/yr vs 11.27%/yr for EQAL. Their correlation of 0.94 suggests significant overlap in exposure. EUSA charges 0.09%/yr vs 0.20%/yr for EQAL.

Performance

EUSA vs. EQAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Equal Weighted ETF (EUSA) and Invesco Russell 1000 Equal Weight ETF (EQAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUSA achieves a 10.06% return, which is significantly lower than EQAL's 12.62% return. Over the past 10 years, EUSA has outperformed EQAL with an annualized return of 12.28%, while EQAL has yielded a comparatively lower 11.27% annualized return.

EUSA

1D
0.43%
1M
1.53%
YTD
10.06%
6M
8.62%
1Y
17.88%
3Y*
15.73%
5Y*
7.65%
10Y*
12.28%

EQAL

1D
0.75%
1M
0.47%
YTD
12.62%
6M
11.31%
1Y
23.52%
3Y*
15.18%
5Y*
6.93%
10Y*
11.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUSA vs. EQAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUSA
iShares MSCI USA Equal Weighted ETF		10.06%10.24%14.64%17.72%-17.13%25.60%15.03%30.56%-8.58%19.02%
EQAL
Invesco Russell 1000 Equal Weight ETF		12.62%11.05%11.38%11.98%-13.49%23.14%16.57%24.54%-9.22%17.36%

Correlation

The correlation between EUSA and EQAL is 0.95, 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

0.95

Correlation (3Y)
Calculated over the trailing 3-year period

0.97

Correlation (5Y)
Calculated over the trailing 5-year period

0.97

Correlation (10Y)
Calculated over the trailing 10-year period

0.96

Correlation (All Time)
Calculated using the full available price history since Dec 29, 2014

0.94

The correlation between EUSA and EQAL has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

EUSA vs. EQAL - Sectors Allocation Comparison

Sectors
EUSA
EQAL

Technology

20.3%
16.6%

Industrials

15.3%
9.4%

Financial Services

14.7%
9.2%

Consumer Cyclical

11.1%
7.7%

Healthcare

10.8%
9.4%

Utilities

5.4%
7.5%

Consumer Defensive

5.3%
7.7%

Real Estate

5.2%
9.2%

Basic Materials

4.3%
8.0%

Communication Services

4.0%
7.2%

Energy

3.8%
8.3%

Technology

EUSA
20.3%
EQAL
16.6%

Industrials

EUSA
15.3%
EQAL
9.4%

Financial Services

EUSA
14.7%
EQAL
9.2%

Consumer Cyclical

EUSA
11.1%
EQAL
7.7%

Healthcare

EUSA
10.8%
EQAL
9.4%

Utilities

EUSA
5.4%
EQAL
7.5%

Consumer Defensive

EUSA
5.3%
EQAL
7.7%

Real Estate

EUSA
5.2%
EQAL
9.2%

Basic Materials

EUSA
4.3%
EQAL
8.0%

Communication Services

EUSA
4.0%
EQAL
7.2%

Energy

EUSA
3.8%
EQAL
8.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Equal Weighted ETF

Invesco Russell 1000 Equal Weight ETF

Often compared with EUSA:
EUSA vs. RSPEUSA vs. GSEWEUSA vs. VOOEUSA vs. VTIEUSA vs. ^GSPCEUSA vs. SCHGEUSA vs. ITOT
Often compared with EQAL:
EQAL vs. RSPEQAL vs. IWBEQAL vs. SPYEQAL vs. IWMEQAL vs. XLGEQAL vs. FSPGXEQAL vs. EQQQ.DE

Return for Risk

EUSA vs. EQAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUSA
EUSA Risk / Return Rank: 5151
Overall Rank
EUSA Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
EUSA Sortino Ratio Rank: 5050
Sortino Ratio Rank
EUSA Omega Ratio Rank: 4646
Omega Ratio Rank
EUSA Calmar Ratio Rank: 5454
Calmar Ratio Rank
EUSA Martin Ratio Rank: 5959
Martin Ratio Rank
EQAL
EQAL Risk / Return Rank: 7171
Overall Rank
EQAL Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
EQAL Sortino Ratio Rank: 6969
Sortino Ratio Rank
EQAL Omega Ratio Rank: 6464
Omega Ratio Rank
EQAL Calmar Ratio Rank: 7878
Calmar Ratio Rank
EQAL Martin Ratio Rank: 7575
Martin Ratio Rank
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.

EUSA vs. EQAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Equal Weighted ETF (EUSA) and Invesco Russell 1000 Equal Weight ETF (EQAL). 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.

EUSAEQALDifference
Sharpe ratioReturn per unit of total volatility
1.49
1.90

-0.41

Sortino ratioReturn per unit of downside risk
2.16
2.72

-0.57

Omega ratioGain probability vs. loss probability

1.26

1.33

-0.07

Calmar ratioReturn relative to maximum drawdown

2.30

3.54

-1.24

Martin ratioReturn relative to average drawdown

9.03

12.28

-3.26

EUSA vs. EQAL - Sharpe Ratio Comparison

The current EUSA Sharpe Ratio is 1.49, which is comparable to the EQAL Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of EUSA and EQAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EUSA vs. EQAL - Drawdown Comparison

The maximum EUSA drawdown since its inception was -39.16%, roughly equal to the maximum EQAL drawdown of -40.44%. Use the drawdown chart below to compare losses from any high point for EUSA and EQAL.

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Drawdown Indicators

EUSAEQALDifference

Max Drawdown

Largest peak-to-trough decline

-39.16%

-40.44%

+1.28%

Max Drawdown (1Y)

Largest decline over 1 year

-7.82%

-6.67%

-1.15%

Max Drawdown (3Y)

Largest decline over 3 years

-18.20%

-19.62%

+1.42%

Max Drawdown (5Y)

Largest decline over 5 years

-25.24%

-21.79%

-3.45%

Max Drawdown (10Y)

Largest decline over 10 years

-39.16%

-40.44%

+1.28%

Current Drawdown

Current decline from peak

-0.62%

-0.91%

+0.29%

Average Drawdown

Average peak-to-trough decline

-4.58%

-5.07%

+0.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.99%

1.92%

+0.07%

Volatility

EUSA vs. EQAL - Volatility Comparison

iShares MSCI USA Equal Weighted ETF (EUSA) has a higher volatility of 3.67% compared to Invesco Russell 1000 Equal Weight ETF (EQAL) at 3.47%. This indicates that EUSA's price experiences larger fluctuations and is considered to be riskier than EQAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUSAEQALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.67%

3.47%

+0.20%

Volatility (6M)

Calculated over the trailing 6-month period

9.09%

8.84%

+0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

12.04%

12.45%

-0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.99%

17.28%

-0.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.32%

18.84%

-0.52%

EUSA vs. EQAL - Expense Ratio Comparison

EUSA has a 0.09% expense ratio, which is lower than EQAL's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EUSA vs. EQAL - Dividend Comparison

EUSA's dividend yield for the trailing twelve months is around 1.47%, less than EQAL's 1.70% yield.

PositionTTM20252024202320222021202020192018201720162015
EQAL
Invesco Russell 1000 Equal Weight ETF		1.70%1.79%1.62%1.88%1.95%1.32%1.63%1.61%1.62%1.18%1.57%1.64%
EUSA
iShares MSCI USA Equal Weighted ETF		1.47%1.63%1.47%1.53%1.73%1.23%1.45%1.49%2.01%1.50%1.59%2.21%

Frequently Asked Questions

With a correlation of 0.95, EUSA and EQAL 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.

EUSA has higher volatility (3.67%) compared to EQAL (3.47%). In terms of maximum drawdown, EUSA dropped -39.16% vs EQAL's -40.44%.

On 10-year performance, EUSA leads with 12.28% vs 11.27% for EQAL. On fees, EUSA is cheaper at 0.09% per year. On volatility, EQAL has been the lower-risk option at 3.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EUSA has performed better with a 12.28% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUSA is cheaper with a 0.09% expense ratio, compared with 0.20% for EQAL.

EQAL has the higher dividend yield at 1.70%, compared with 1.47% for EUSA.

EUSA tracks MSCI USA Equal Weighted Index, while EQAL tracks Russell 1000 Equal Weight Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for EUSA and 0.20% for EQAL.

EQAL currently has the higher Sharpe Ratio (1.90 vs 1.49), 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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