VADDX vs. ^SPXEW

Last updated Jun 3, 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 11.62%/yr vs 9.98%/yr for ^SPXEW. With a 0.99 correlation, they move nearly in lockstep.

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

The year-to-date returns for both stocks are quite close, with VADDX having a 9.69% return and ^SPXEW slightly lower at 9.36%. Over the past 10 years, VADDX has outperformed ^SPXEW with an annualized return of 11.62%, while ^SPXEW has yielded a comparatively lower 9.98% annualized return.

VADDX

• 1D: 0.25%
• 1M: 3.17%
• YTD: 9.69%
• 6M: 10.99%
• 1Y: 20.41%
• 3Y*: 15.14%
• 5Y*: 8.30%
• 10Y*: 11.62%

^SPXEW

• 1D: 0.34%
• 1M: 3.36%
• YTD: 9.36%
• 6M: 10.47%
• 1Y: 18.88%
• 3Y*: 13.39%
• 5Y*: 6.68%
• 10Y*: 9.98%

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

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	9.69%	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	9.36%	9.34%	10.90%	11.56%	-13.11%	27.48%	10.47%	26.57%	-9.43%	16.68%

Correlation

The correlation between VADDX and ^SPXEW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 29, 1997	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 risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VADDX

VADDX Risk / Return Rank: 41
VADDX Sharpe Ratio Rank: 36
VADDX Sortino Ratio Rank: 37
VADDX Omega Ratio Rank: 34
VADDX Calmar Ratio Rank: 47
VADDX Martin Ratio Rank: 48

^SPXEW

^SPXEW Risk / Return Rank: 57
^SPXEW Sharpe Ratio Rank: 56
^SPXEW Sortino Ratio Rank: 59
^SPXEW Omega Ratio Rank: 56
^SPXEW Calmar Ratio Rank: 57
^SPXEW Martin Ratio Rank: 59

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.

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.

	VADDX	^SPXEW	Difference
Sharpe ratio Return per unit of total volatility	1.77	1.63	+0.14
Sortino ratio Return per unit of downside risk	2.58	2.38	+0.20
Omega ratio Gain probability vs. loss probability	1.31	1.29	+0.02
Calmar ratio Return relative to maximum drawdown	2.64	2.35	+0.29
Martin ratio Return relative to average drawdown	10.05	8.83	+1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VADDX vs. ^SPXEW - Sharpe Ratio Comparison

The current VADDX Sharpe Ratio is 1.77, which is comparable to the ^SPXEW Sharpe Ratio of 1.63. 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.

Sharpe Ratios by Period

	VADDX	^SPXEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.63	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.41	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.54	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.49	-0.02

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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.00%	-7.02%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.14%	-0.07%

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 2.67% and 2.66%, 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	2.67%	2.66%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	8.37%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	11.62%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	16.24%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.54%	18.43%	+0.11%

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?

VADDX has higher volatility (2.67%) compared to ^SPXEW (2.66%). 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 (1.77 vs 1.63), 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.