TEQI vs. EQWL

Last updated Jun 5, 2026

TEQI (T. Rowe Price Equity Income ETF) and EQWL (Invesco S&P 100 Equal Weight ETF) are both exchange-traded funds - TEQI is a Large Cap Value Equities fund actively managed by T. Rowe Price, while EQWL is a Large Cap Blend Equities fund tracking the S&P 100 Equal Weight Index. TEQI is actively managed, while EQWL is passively managed. Over the past 5 years, TEQI returned 9.28%/yr vs 11.94%/yr for EQWL. Their correlation of 0.92 suggests significant overlap in exposure. TEQI charges 0.54%/yr vs 0.25%/yr for EQWL.

Performance

TEQI vs. EQWL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Equity Income ETF (TEQI) and Invesco S&P 100 Equal Weight ETF (EQWL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEQI achieves a 11.01% return, which is significantly higher than EQWL's 9.48% return.

TEQI

• 1D: 1.19%
• 1M: 2.72%
• YTD: 11.01%
• 6M: 12.75%
• 1Y: 22.31%
• 3Y*: 16.81%
• 5Y*: 9.28%
• 10Y*: —

EQWL

• 1D: 0.68%
• 1M: 4.61%
• YTD: 9.48%
• 6M: 10.19%
• 1Y: 22.95%
• 3Y*: 20.06%
• 5Y*: 11.94%
• 10Y*: 14.47%

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

TEQI vs. EQWL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TEQI T. Rowe Price Equity Income ETF	11.01%	13.36%	13.14%	9.64%	-3.33%	26.25%	18.07%
EQWL Invesco S&P 100 Equal Weight ETF	9.48%	17.61%	19.11%	19.48%	-11.46%	28.29%	16.75%

Correlation

The correlation between TEQI and EQWL is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 6, 2020	0.92

The correlation between TEQI and EQWL has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

TEQI vs. EQWL - Sectors Allocation Comparison

Sectors	TEQI	EQWL
Financial Services	20.3%	15.6%
Healthcare	12.9%	14.0%
Industrials	12.4%	13.7%
Technology	12.3%	22.8%
Energy	11.0%	3.0%
Consumer Defensive	7.2%	8.9%
Utilities	6.8%	3.0%
Communication Services	6.6%	7.6%
Consumer Cyclical	5.2%	8.5%
Real Estate	3.3%	2.0%
Basic Materials	2.2%	1.0%

Return for Risk

TEQI vs. EQWL — Risk / Return Rank

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

TEQI

TEQI Risk / Return Rank: 64
TEQI Sharpe Ratio Rank: 65
TEQI Sortino Ratio Rank: 66
TEQI Omega Ratio Rank: 64
TEQI Calmar Ratio Rank: 63
TEQI Martin Ratio Rank: 63

EQWL

EQWL Risk / Return Rank: 67
EQWL Sharpe Ratio Rank: 69
EQWL Sortino Ratio Rank: 70
EQWL Omega Ratio Rank: 66
EQWL Calmar Ratio Rank: 61
EQWL Martin Ratio Rank: 69

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.

TEQI vs. EQWL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Equity Income ETF (TEQI) and Invesco S&P 100 Equal Weight ETF (EQWL). 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.

	TEQI	EQWL	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.22	-0.10
Sortino ratio: Return per unit of downside risk	3.01	3.12	-0.11
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	3.10	2.97	+0.13
Martin ratio: Return relative to average drawdown	11.09	12.52	-1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEQI vs. EQWL - Sharpe Ratio Comparison

The current TEQI Sharpe Ratio is 2.12, which is comparable to the EQWL Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of TEQI and EQWL, 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

	TEQI	EQWL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.22	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.80	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.60	+0.40

Drawdowns

TEQI vs. EQWL - Drawdown Comparison

The maximum TEQI drawdown since its inception was -17.82%, smaller than the maximum EQWL drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for TEQI and EQWL.

Drawdown Indicators

	TEQI	EQWL	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-49.36%	+31.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-7.76%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-14.95%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.82%	-22.99%	+5.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.30%	—
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-3.53%	-6.70%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	1.84%	+0.18%

Volatility

TEQI vs. EQWL - Volatility Comparison

T. Rowe Price Equity Income ETF (TEQI) has a higher volatility of 2.75% compared to Invesco S&P 100 Equal Weight ETF (EQWL) at 2.61%. This indicates that TEQI's price experiences larger fluctuations and is considered to be riskier than EQWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEQI	EQWL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	2.61%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	7.69%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	10.37%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	14.98%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	16.79%	-1.67%

TEQI vs. EQWL - Expense Ratio Comparison

TEQI has a 0.54% expense ratio, which is higher than EQWL's 0.25% expense ratio.

Dividends

TEQI vs. EQWL - Dividend Comparison

TEQI's dividend yield for the trailing twelve months is around 1.53%, which matches EQWL's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQWL Invesco S&P 100 Equal Weight ETF	1.53%	1.67%	1.86%	1.97%	2.12%	1.65%	2.01%	2.04%	2.23%	1.27%	2.01%	2.03%
TEQI T. Rowe Price Equity Income ETF	1.53%	1.71%	1.86%	2.12%	2.32%	3.03%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEQI and EQWL in my portfolio?

TEQI and EQWL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEQI or EQWL?

TEQI has higher volatility (2.75%) compared to EQWL (2.61%). In terms of maximum drawdown, TEQI dropped -17.82% vs EQWL's -49.36%.

Which ETF is better, TEQI or EQWL?

On 5-year performance, EQWL leads with 11.94% vs 9.28% for TEQI. On fees, EQWL is cheaper at 0.25% per year. On volatility, EQWL has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEQI or EQWL?

Over the 5-year period, EQWL has performed better with a 11.94% return vs 9.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEQI or EQWL?

EQWL is cheaper with a 0.25% expense ratio, compared with 0.54% for TEQI.

Which ETF pays a higher dividend yield, TEQI or EQWL?

TEQI and EQWL have nearly identical dividend yields, around 1.53%.

What is the main difference between TEQI and EQWL?

TEQI is categorized as Large Cap Value Equities, while EQWL is Large Cap Blend Equities. They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.54% for TEQI and 0.25% for EQWL.

Which has better risk-adjusted returns?

EQWL currently has the higher Sharpe Ratio (2.22 vs 2.12), 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.