RWL vs. HROW

Last updated Jun 4, 2026

RWL (Invesco S&P 500 Revenue ETF) is S&P 500 fund tracking the S&P 500 Revenue-Weighted Index, while HROW (Harrow Health, Inc.) is a stock. Over the past 10 years, RWL returned 13.96%/yr vs 23.55%/yr for HROW. At a 0.16 correlation, their price movements are largely independent.

Performance

RWL vs. HROW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Revenue ETF (RWL) and Harrow Health, Inc. (HROW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWL achieves a 11.07% return, which is significantly higher than HROW's -32.00% return. Over the past 10 years, RWL has underperformed HROW with an annualized return of 13.96%, while HROW has yielded a comparatively higher 23.55% annualized return.

RWL

• 1D: -0.42%
• 1M: 3.13%
• YTD: 11.07%
• 6M: 11.66%
• 1Y: 26.76%
• 3Y*: 19.96%
• 5Y*: 12.89%
• 10Y*: 13.96%

HROW

• 1D: 1.40%
• 1M: -17.11%
• YTD: -32.00%
• 6M: -25.16%
• 1Y: 13.57%
• 3Y*: 19.43%
• 5Y*: 29.87%
• 10Y*: 23.55%

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

RWL vs. HROW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWL Invesco S&P 500 Revenue ETF	11.07%	18.65%	16.45%	17.43%	-6.00%	30.29%	9.14%	27.83%	-7.74%	20.34%
HROW Harrow Health, Inc.	-32.00%	46.05%	199.55%	-24.12%	70.83%	25.95%	-11.83%	36.73%	234.71%	-32.00%

Correlation

The correlation between RWL and HROW is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 25, 2008	0.16

Over the past year, RWL and HROW have become more correlated (0.46) than their long-term average of 0.16, meaning their price movements have been converging.

Return for Risk

RWL vs. HROW — Risk / Return Rank

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

RWL

RWL Risk / Return Rank: 81
RWL Sharpe Ratio Rank: 81
RWL Sortino Ratio Rank: 82
RWL Omega Ratio Rank: 79
RWL Calmar Ratio Rank: 78
RWL Martin Ratio Rank: 83

HROW

HROW Risk / Return Rank: 48
HROW Sharpe Ratio Rank: 48
HROW Sortino Ratio Rank: 47
HROW Omega Ratio Rank: 49
HROW Calmar Ratio Rank: 47
HROW Martin Ratio Rank: 48

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.

RWL vs. HROW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Revenue ETF (RWL) and Harrow Health, Inc. (HROW). 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.

	RWL	HROW	Difference
Sharpe ratio: Return per unit of total volatility	2.69	0.21	+2.48
Sortino ratio: Return per unit of downside risk	3.76	0.72	+3.04
Omega ratio: Gain probability vs. loss probability	1.48	1.11	+0.37
Calmar ratio: Return relative to maximum drawdown	4.05	0.29	+3.76
Martin ratio: Return relative to average drawdown	17.12	0.66	+16.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWL vs. HROW - Sharpe Ratio Comparison

The current RWL Sharpe Ratio is 2.69, which is higher than the HROW Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of RWL and HROW, 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

	RWL	HROW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	0.21	+2.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.43	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.33	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	-0.05	+0.62

Drawdowns

RWL vs. HROW - Drawdown Comparison

The maximum RWL drawdown since its inception was -54.83%, smaller than the maximum HROW drawdown of -99.46%. Use the drawdown chart below to compare losses from any high point for RWL and HROW.

Drawdown Indicators

	RWL	HROW	Difference
Max Drawdown Largest peak-to-trough decline	-54.83%	-99.46%	+44.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-47.03%	+40.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-63.32%	+48.93%
Max Drawdown (5Y) Largest decline over 5 years	-17.49%	-71.15%	+53.66%
Max Drawdown (10Y) Largest decline over 10 years	-36.04%	-71.15%	+35.11%
Current Drawdown Current decline from peak	-0.57%	-75.86%	+75.29%
Average Drawdown Average peak-to-trough decline	-6.45%	-86.74%	+80.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	20.50%	-18.93%

Volatility

RWL vs. HROW - Volatility Comparison

The current volatility for Invesco S&P 500 Revenue ETF (RWL) is 2.12%, while Harrow Health, Inc. (HROW) has a volatility of 29.71%. This indicates that RWL experiences smaller price fluctuations and is considered to be less risky than HROW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWL	HROW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	29.71%	-27.59%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	55.43%	-48.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.00%	64.81%	-54.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	69.96%	-55.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	71.13%	-54.27%

Dividends

RWL vs. HROW - Dividend Comparison

RWL's dividend yield for the trailing twelve months is around 1.25%, while HROW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HROW Harrow Health, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWL Invesco S&P 500 Revenue ETF	1.25%	1.35%	1.43%	1.60%	1.62%	1.35%	1.75%	1.87%	1.99%	1.60%	1.71%	1.97%

Frequently Asked Questions

Can I hold both RWL and HROW in my portfolio?

RWL and HROW have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWL or HROW?

HROW has higher volatility (29.71%) compared to RWL (2.12%). In terms of maximum drawdown, RWL dropped -54.83% vs HROW's -99.46%.

Which has better risk-adjusted returns?

RWL currently has the higher Sharpe Ratio (2.69 vs 0.21), 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.