TOV vs. EQL

Last updated Aug 6, 2026

TOV (JLens 500 Jewish Advocacy U.S. ETF) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds - TOV tracks the JLens 500 Jewish Advocacy U.S. Index while EQL tracks the NYSE Equal Sector Weight Index. Both are passively managed. Over the past year, TOV returned 23.75% vs 19.04% for EQL. Their 0.80 correlation means they have sometimes moved together and sometimes differently. TOV charges 0.18%/yr vs 0.27%/yr for EQL.

Performance

TOV vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JLens 500 Jewish Advocacy U.S. ETF (TOV) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOV achieves a 13.69% return, which is significantly higher than EQL's 12.36% return.

TOV

• 1D: -0.08%
• 1M: 2.47%
• 6M: 13.10%
• YTD: 13.69%
• 1Y: 23.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.48%

EQL

• 1D: -0.25%
• 1M: 1.57%
• 6M: 7.31%
• YTD: 12.36%
• 1Y: 19.04%
• 3Y*: 15.88%
• 5Y*: 10.78%
• 10Y*: 12.45%
• ALL TIME*: 13.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EQL ALPS Equal Sector Weight ETF	$3.29M	$2.86M	$2.72M
TOV JLens 500 Jewish Advocacy U.S. ETF	$53.32K	$104.73K	$282.58K

TOV vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025
TOV JLens 500 Jewish Advocacy U.S. ETF	13.69%	14.91%
EQL ALPS Equal Sector Weight ETF	12.36%	9.15%

Correlation

The correlation between TOV and EQL is 0.73, 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.	0.73
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	0.80

The correlation between TOV and EQL has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

TOV vs. EQL - Sectors Allocation Comparison

Sectors	TOV	EQL
Technology	38.3%	10.2%
Financial Services	11.8%	9.1%
Communication Services	10.1%	8.9%
Consumer Cyclical	9.2%	9.6%
Healthcare	9.1%	9.4%
Industrials	8.9%	9.3%
Consumer Defensive	4.4%	8.8%
Energy	3.0%	8.7%
Utilities	2.1%	9.4%
Real Estate	1.6%	8.7%
Basic Materials	1.6%	8.0%

Return for Risk

TOV vs. EQL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TOV

TOV Risk / Return Rank: 69
TOV Sharpe Ratio Rank: 68
TOV Sortino Ratio Rank: 67
TOV Omega Ratio Rank: 66
TOV Calmar Ratio Rank: 67
TOV Martin Ratio Rank: 76

EQL

EQL Risk / Return Rank: 79
EQL Sharpe Ratio Rank: 79
EQL Sortino Ratio Rank: 78
EQL Omega Ratio Rank: 78
EQL Calmar Ratio Rank: 77
EQL Martin Ratio Rank: 81

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.

TOV vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JLens 500 Jewish Advocacy U.S. ETF (TOV) and ALPS Equal Sector Weight ETF (EQL). 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.

	TOV	EQL	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.03	-0.22
Sortino ratio: Return per unit of downside risk	2.51	2.83	-0.32
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	2.68	3.09	-0.41
Martin ratio: Return relative to average drawdown	10.97	12.10	-1.12

TOV vs. EQL - Sharpe Ratio Comparison

The current TOV Sharpe Ratio is 1.81, which is comparable to the EQL Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of TOV and EQL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TOV vs. EQL - Drawdown Comparison

The maximum TOV drawdown since its inception was -16.97%, smaller than the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for TOV and EQL.

Drawdown Indicators

	TOV	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-16.97%	-35.65%	+18.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-6.19%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.65%	—
Current Drawdown Current decline from peak	-0.08%	-0.25%	+0.17%
Average Drawdown Average peak-to-trough decline	-2.16%	-3.23%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	1.58%	+0.59%

Volatility

TOV vs. EQL - Volatility Comparison

JLens 500 Jewish Advocacy U.S. ETF (TOV) has a higher volatility of 4.15% compared to ALPS Equal Sector Weight ETF (EQL) at 2.41%. This indicates that TOV's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOV	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	2.41%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	7.12%	+3.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	9.43%	+3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	14.52%	+3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	16.49%	+1.17%

TOV vs. EQL - Expense Ratio Comparison

TOV has a 0.18% expense ratio, which is lower than EQL's 0.27% 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

TOV vs. EQL - Dividend Comparison

TOV's dividend yield for the trailing twelve months is around 0.83%, less than EQL's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.33%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
TOV JLens 500 Jewish Advocacy U.S. ETF	0.83%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOV and EQL in my portfolio?

TOV and EQL have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOV or EQL?

TOV has higher volatility (4.15%) compared to EQL (2.41%). In terms of maximum drawdown, TOV dropped -16.97% vs EQL's -35.65%.

Which ETF is better, TOV or EQL?

On 1-year performance, TOV leads with 23.75% vs 19.04% for EQL. On fees, TOV is cheaper at 0.18% per year. On volatility, EQL has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOV or EQL?

Over the 1-year period, TOV has performed better with a 23.75% return vs 19.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOV or EQL?

TOV is cheaper with a 0.18% expense ratio, compared with 0.27% for EQL.

Which ETF pays a higher dividend yield, TOV or EQL?

EQL has the higher dividend yield at 1.33%, compared with 0.83% for TOV.

What is the main difference between TOV and EQL?

TOV tracks JLens 500 Jewish Advocacy U.S. Index, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: JLens and SS&C. Their fees differ too: 0.18% for TOV and 0.27% for EQL.

Which has better risk-adjusted returns?

EQL currently has the higher Sharpe Ratio (2.03 vs 1.81), 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.