VADDX vs. ^SPXEW

Last updated Aug 1, 2026

VADDX (Invesco Equally-Weighted S&P 500 Fund) is S&P 500 fund tracking the S&P 500 Equal Weight Index, while ^SPXEW (S&P 500 Equal Weighted Index) is an index. Over the past 10 years, VADDX returned 11.61%/yr vs 10.02%/yr for ^SPXEW. Their 0.99 correlation means they have historically moved very closely together.

Performance

VADDX vs. ^SPXEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund (VADDX) and S&P 500 Equal Weighted Index (^SPXEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VADDX achieves a 13.28% return, which is significantly higher than ^SPXEW's 12.13% return. Over the past 10 years, VADDX has outperformed ^SPXEW with an annualized return of 11.61%, while ^SPXEW has yielded a comparatively lower 10.02% annualized return.

VADDX

• 1D: -0.19%
• 1M: 0.16%
• 6M: 9.58%
• YTD: 13.28%
• 1Y: 20.46%
• 3Y*: 13.37%
• 5Y*: 8.79%
• 10Y*: 11.61%
• ALL TIME*: 9.44%

^SPXEW

• 1D: -0.20%
• 1M: -0.08%
• 6M: 8.58%
• YTD: 12.13%
• 1Y: 18.34%
• 3Y*: 11.61%
• 5Y*: 7.03%
• 10Y*: 10.02%
• ALL TIME*: 8.07%

*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)
^SPXEW S&P 500 Equal Weighted Index	$0.00	$0.00	$0.00
VADDX Invesco Equally-Weighted S&P 500 Fund	$0.00	$0.00	$0.00

VADDX vs. ^SPXEW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADDX Invesco Equally-Weighted S&P 500 Fund	13.28%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%
^SPXEW S&P 500 Equal Weighted Index	12.13%	9.34%	10.90%	11.56%	-13.11%	27.48%	10.47%	27.57%	-10.14%	16.68%

Correlation

The correlation between VADDX and ^SPXEW is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Dec 8, 2006	0.99

The correlation between VADDX and ^SPXEW has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

VADDX vs. ^SPXEW — Risk / Return Rank

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

VADDX

VADDX Risk / Return Rank: 69
VADDX Sharpe Ratio Rank: 67
VADDX Sortino Ratio Rank: 68
VADDX Omega Ratio Rank: 63
VADDX Calmar Ratio Rank: 72
VADDX Martin Ratio Rank: 75

^SPXEW

^SPXEW Risk / Return Rank: 70
^SPXEW Sharpe Ratio Rank: 65
^SPXEW Sortino Ratio Rank: 71
^SPXEW Omega Ratio Rank: 65
^SPXEW Calmar Ratio Rank: 74
^SPXEW Martin Ratio Rank: 77

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.

VADDX vs. ^SPXEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund (VADDX) and S&P 500 Equal Weighted Index (^SPXEW). 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.

	VADDX	^SPXEW	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.46	+0.08
Sortino ratio: Return per unit of downside risk	2.26	2.14	+0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.31	2.13	+0.18
Martin ratio: Return relative to average drawdown	8.94	8.16	+0.78

VADDX vs. ^SPXEW - Sharpe Ratio Comparison

The current VADDX Sharpe Ratio is 1.55, which is comparable to the ^SPXEW Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of VADDX and ^SPXEW, 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

VADDX vs. ^SPXEW - Drawdown Comparison

The maximum VADDX drawdown since its inception was -60.12%, roughly equal to the maximum ^SPXEW drawdown of -60.83%. Use the drawdown chart below to compare losses from any high point for VADDX and ^SPXEW.

Drawdown Indicators

	VADDX	^SPXEW	Difference
Max Drawdown Largest peak-to-trough decline	-60.12%	-60.83%	+0.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-8.03%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-18.31%	+0.45%
Max Drawdown (5Y) Largest decline over 5 years	-21.58%	-22.47%	+0.89%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-39.21%	-0.18%
Current Drawdown Current decline from peak	-1.06%	-1.25%	+0.19%
Average Drawdown Average peak-to-trough decline	-6.97%	-8.13%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	2.10%	-0.04%

Volatility

VADDX vs. ^SPXEW - Volatility Comparison

Invesco Equally-Weighted S&P 500 Fund (VADDX) and S&P 500 Equal Weighted Index (^SPXEW) have volatilities of 2.88% and 2.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VADDX	^SPXEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	2.88%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	8.56%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.79%	11.75%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	16.22%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.46%	18.33%	+0.13%

Frequently Asked Questions

Can I hold both VADDX and ^SPXEW in my portfolio?

With a correlation of 1.00, VADDX and ^SPXEW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VADDX or ^SPXEW?

^SPXEW has higher volatility (2.88%) compared to VADDX (2.88%). In terms of maximum drawdown, VADDX dropped -60.12% vs ^SPXEW's -60.83%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.55 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.