INDEX vs. HRB

Last updated Jun 4, 2026

INDEX (Index Funds S&P 500 Equal Weight) is Large Cap Blend Equities fund managed by Fidelity, while HRB (H&R Block, Inc.) is a stock. Over the past 10 years, INDEX returned 13.13%/yr vs 10.08%/yr for HRB. At a 0.40 correlation, their price movements are largely independent.

Performance

INDEX vs. HRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Index Funds S&P 500 Equal Weight (INDEX) and H&R Block, Inc. (HRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDEX achieves a 11.54% return, which is significantly higher than HRB's -10.75% return. Over the past 10 years, INDEX has outperformed HRB with an annualized return of 13.13%, while HRB has yielded a comparatively lower 10.08% annualized return.

INDEX

• 1D: 0.14%
• 1M: 5.79%
• YTD: 11.54%
• 6M: 11.59%
• 1Y: 28.87%
• 3Y*: 21.01%
• 5Y*: 11.61%
• 10Y*: 13.13%

HRB

• 1D: -0.52%
• 1M: 23.48%
• YTD: -10.75%
• 6M: -8.07%
• 1Y: -32.33%
• 3Y*: 11.13%
• 5Y*: 12.40%
• 10Y*: 10.08%

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

INDEX vs. HRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDEX Index Funds S&P 500 Equal Weight	11.54%	17.77%	24.73%	10.58%	-11.84%	29.10%	12.75%	28.98%	-7.83%	18.70%
HRB H&R Block, Inc.	-10.75%	-14.88%	12.03%	36.87%	59.94%	55.43%	-27.97%	-3.55%	0.49%	18.22%

Correlation

The correlation between INDEX and HRB is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 12, 2015	0.40

The correlation between INDEX and HRB shifts across timeframes, from -0.00 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

INDEX vs. HRB — Risk / Return Rank

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

INDEX

INDEX Risk / Return Rank: 73
INDEX Sharpe Ratio Rank: 76
INDEX Sortino Ratio Rank: 68
INDEX Omega Ratio Rank: 67
INDEX Calmar Ratio Rank: 73
INDEX Martin Ratio Rank: 83

HRB

HRB Risk / Return Rank: 12
HRB Sharpe Ratio Rank: 9
HRB Sortino Ratio Rank: 8
HRB Omega Ratio Rank: 10
HRB Calmar Ratio Rank: 17
HRB Martin Ratio Rank: 16

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.

INDEX vs. HRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Index Funds S&P 500 Equal Weight (INDEX) and H&R Block, Inc. (HRB). 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.

	INDEX	HRB	Difference
Sharpe ratio: Return per unit of total volatility	2.52	-0.80	+3.32
Sortino ratio: Return per unit of downside risk	3.43	-1.23	+4.66
Omega ratio: Gain probability vs. loss probability	1.46	0.86	+0.60
Calmar ratio: Return relative to maximum drawdown	3.33	-0.64	+3.97
Martin ratio: Return relative to average drawdown	15.62	-1.15	+16.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDEX vs. HRB - Sharpe Ratio Comparison

The current INDEX Sharpe Ratio is 2.52, which is higher than the HRB Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of INDEX and HRB, 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

	INDEX	HRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	-0.80	+3.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.38	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.28	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.29	+0.33

Drawdowns

INDEX vs. HRB - Drawdown Comparison

The maximum INDEX drawdown since its inception was -38.82%, smaller than the maximum HRB drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for INDEX and HRB.

Drawdown Indicators

	INDEX	HRB	Difference
Max Drawdown Largest peak-to-trough decline	-38.82%	-62.08%	+23.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-50.47%	+41.54%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-55.54%	+36.79%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-55.54%	+34.02%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	-57.72%	+18.90%
Current Drawdown Current decline from peak	0.00%	-38.98%	+38.98%
Average Drawdown Average peak-to-trough decline	-4.63%	-18.63%	+14.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	28.42%	-26.52%

Volatility

INDEX vs. HRB - Volatility Comparison

The current volatility for Index Funds S&P 500 Equal Weight (INDEX) is 2.83%, while H&R Block, Inc. (HRB) has a volatility of 24.10%. This indicates that INDEX experiences smaller price fluctuations and is considered to be less risky than HRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDEX	HRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	24.10%	-21.27%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	34.99%	-26.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	40.38%	-28.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	33.02%	-16.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.65%	35.99%	-17.34%

Dividends

INDEX vs. HRB - Dividend Comparison

INDEX's dividend yield for the trailing twelve months is around 0.93%, less than HRB's 5.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HRB H&R Block, Inc.	5.41%	3.65%	2.63%	2.52%	3.07%	4.54%	6.56%	4.39%	3.90%	3.59%	3.74%	2.40%
INDEX Index Funds S&P 500 Equal Weight	0.93%	1.04%	1.97%	1.56%	3.25%	1.81%	1.53%	1.61%	3.09%	1.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDEX and HRB in my portfolio?

INDEX and HRB have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDEX or HRB?

HRB has higher volatility (24.10%) compared to INDEX (2.83%). In terms of maximum drawdown, INDEX dropped -38.82% vs HRB's -62.08%.

Which has better risk-adjusted returns?

INDEX currently has the higher Sharpe Ratio (2.52 vs -0.80), 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.