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IWB vs. EQAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWB vs. EQAL

Last updated Aug 2, 2026
Documentation

IWB (iShares Russell 1000 ETF) and EQAL (Invesco Russell 1000 Equal Weight ETF) are both exchange-traded funds - IWB is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while EQAL is a Mid Cap Blend Equities fund tracking the Russell 1000 Equal Weight Index. Both are passively managed. Over the past 10 years, IWB returned 14.76%/yr vs 10.52%/yr for EQAL. Their correlation of 0.87 means they have usually moved in the same direction. IWB charges 0.15%/yr vs 0.20%/yr for EQAL.

Performance

IWB vs. EQAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 ETF (IWB) 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, IWB achieves a 9.84% return, which is significantly lower than EQAL's 13.65% return. Over the past 10 years, IWB has outperformed EQAL with an annualized return of 14.76%, while EQAL has yielded a comparatively lower 10.52% annualized return.

IWB

1D
0.64%
1M
-0.09%
6M
8.39%
YTD
9.84%
1Y
20.77%
3Y*
18.93%
5Y*
11.97%
10Y*
14.76%
ALL TIME*
8.44%

EQAL

1D
-0.15%
1M
-0.32%
6M
9.29%
YTD
13.65%
1Y
22.55%
3Y*
12.95%
5Y*
7.35%
10Y*
10.52%
ALL TIME*
9.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EQAL

Invesco Russell 1000 Equal Weight ETF
$1.43M$1.64M$1.88M

IWB

iShares Russell 1000 ETF
$196.89M$178.28M$241.66M

IWB vs. EQAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWB
iShares Russell 1000 ETF		9.84%17.18%24.32%26.39%-19.19%26.32%20.77%31.06%-4.90%21.52%
EQAL
Invesco Russell 1000 Equal Weight ETF		13.65%11.05%11.38%11.98%-13.49%23.14%16.57%24.54%-9.22%17.36%

Correlation

The correlation between IWB and EQAL is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.70

Correlation (3Y)
Balances recent behavior with more history.

0.78

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

Correlation (10Y)
Provides a long-term view across more market conditions.

0.87

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

0.87

The correlation between IWB and EQAL shifts across timeframes, from 0.70 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.

IWB vs. EQAL - Sectors Allocation Comparison

Sectors
IWB
EQAL

Technology

36.2%
14.2%

Financial Services

12.5%
9.1%

Healthcare

9.4%
10.3%

Industrials

9.1%
10.4%

Consumer Cyclical

8.9%
7.9%

Communication Services

8.9%
6.8%

Consumer Defensive

4.5%
8.3%

Energy

3.5%
8.0%

Utilities

2.6%
8.4%

Real Estate

2.2%
9.3%

Basic Materials

2.0%
7.4%

Technology

IWB
36.2%
EQAL
14.2%

Financial Services

IWB
12.5%
EQAL
9.1%

Healthcare

IWB
9.4%
EQAL
10.3%

Industrials

IWB
9.1%
EQAL
10.4%

Consumer Cyclical

IWB
8.9%
EQAL
7.9%

Communication Services

IWB
8.9%
EQAL
6.8%

Consumer Defensive

IWB
4.5%
EQAL
8.3%

Energy

IWB
3.5%
EQAL
8.0%

Utilities

IWB
2.6%
EQAL
8.4%

Real Estate

IWB
2.2%
EQAL
9.3%

Basic Materials

IWB
2.0%
EQAL
7.4%

Compare stocks, funds, or ETFs

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

iShares Russell 1000 ETF

Invesco Russell 1000 Equal Weight ETF

Often compared with IWB:
IWB vs. IWMIWB vs. SPYIWB vs. VONEIWB vs. IWDIWB vs. VOOIWB vs. IWVIWB vs. VTI
Often compared with EQAL:
EQAL vs. RSPEQAL vs. IWMEQAL vs. SPYEQAL vs. XLGEQAL vs. FSPGXEQAL vs. EQQQ.DEEQAL vs. VONG

Return for Risk

IWB vs. EQAL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWB
IWB Risk / Return Rank: 6464
Overall Rank
IWB Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
IWB Sortino Ratio Rank: 6161
Sortino Ratio Rank
IWB Omega Ratio Rank: 6161
Omega Ratio Rank
IWB Calmar Ratio Rank: 6161
Calmar Ratio Rank
IWB Martin Ratio Rank: 7474
Martin Ratio Rank
EQAL
EQAL Risk / Return Rank: 8080
Overall Rank
EQAL Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
EQAL Sortino Ratio Rank: 7979
Sortino Ratio Rank
EQAL Omega Ratio Rank: 7676
Omega Ratio Rank
EQAL Calmar Ratio Rank: 8484
Calmar Ratio Rank
EQAL Martin Ratio Rank: 8484
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWB vs. EQAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 ETF (IWB) 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.

IWBEQALDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.76

-0.30

Sortino ratioReturn per unit of downside risk
2.04
2.54

-0.50

Omega ratioGain probability vs. loss probability

1.26

1.31

-0.05

Calmar ratioReturn relative to maximum drawdown

2.13

3.19

-1.07

Martin ratioReturn relative to average drawdown

9.09

11.58

-2.49

IWB vs. EQAL - Sharpe Ratio Comparison

The current IWB Sharpe Ratio is 1.46, which is comparable to the EQAL Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IWB 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

IWB vs. EQAL - Drawdown Comparison

The maximum IWB drawdown since its inception was -55.38%, which is greater than EQAL's maximum drawdown of -40.44%. Use the drawdown chart below to compare losses from any high point for IWB and EQAL.

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Drawdown Indicators

IWBEQALDifference

Max Drawdown

Largest peak-to-trough decline

-55.38%

-40.44%

-14.94%

Max Drawdown (1Y)

Largest decline over 1 year

-8.86%

-6.67%

-2.19%

Max Drawdown (3Y)

Largest decline over 3 years

-19.09%

-19.62%

+0.53%

Max Drawdown (5Y)

Largest decline over 5 years

-25.20%

-21.79%

-3.41%

Max Drawdown (10Y)

Largest decline over 10 years

-34.60%

-40.44%

+5.84%

Current Drawdown

Current decline from peak

-1.34%

-0.85%

-0.49%

Average Drawdown

Average peak-to-trough decline

-10.80%

-5.03%

-5.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.07%

1.84%

+0.23%

Volatility

IWB vs. EQAL - Volatility Comparison

iShares Russell 1000 ETF (IWB) has a higher volatility of 3.49% compared to Invesco Russell 1000 Equal Weight ETF (EQAL) at 2.24%. This indicates that IWB'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

IWBEQALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.49%

2.24%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

10.11%

8.59%

+1.52%

Volatility (1Y)

Calculated over the trailing 1-year period

12.89%

12.14%

+0.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.21%

17.20%

+0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.14%

18.78%

-0.64%

IWB vs. EQAL - Expense Ratio Comparison

IWB has a 0.15% 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

IWB vs. EQAL - Dividend Comparison

IWB's dividend yield for the trailing twelve months is around 0.92%, less than EQAL's 1.69% yield.

PositionTTM20252024202320222021202020192018201720162015
EQAL
Invesco Russell 1000 Equal Weight ETF		1.69%1.79%1.62%1.88%1.95%1.32%1.63%1.61%1.62%1.18%1.57%1.64%
IWB
iShares Russell 1000 ETF		0.92%1.00%1.14%1.31%1.56%1.09%1.37%1.71%2.06%1.64%1.89%1.95%

Frequently Asked Questions

IWB and EQAL have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWB has higher volatility (3.49%) compared to EQAL (2.24%). In terms of maximum drawdown, IWB dropped -55.38% vs EQAL's -40.44%.

On 10-year performance, IWB leads with 14.76% vs 10.52% for EQAL. On fees, IWB is cheaper at 0.15% per year. On volatility, EQAL has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWB has performed better with a 14.76% return vs 10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWB is cheaper with a 0.15% expense ratio, compared with 0.20% for EQAL.

EQAL has the higher dividend yield at 1.69%, compared with 0.92% for IWB.

IWB is categorized as Large Cap Blend Equities, while EQAL is Mid Cap Blend Equities. IWB tracks Russell 1000 Index, while EQAL tracks Russell 1000 Equal Weight Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IWB and 0.20% for EQAL.

EQAL currently has the higher Sharpe Ratio (1.76 vs 1.46), 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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