EQAL vs IQSM
Invesco Russell 1000 Equal Weight ETF vs NYLIM Candriam US Mid Cap Equity ETF
Which is better, EQAL or IQSM?
Nearly the same fund. IQSM costs less.
IQSM has a lower expense ratio. EQAL led over 3Y and the full window, IQSM over 1Y. The two have moved almost in lockstep, correlation 0.96. EQAL is less concentrated, with 4.9% of the fund in its ten largest positions against 8.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EQAL | IQSM |
|---|---|---|
| Expense Ratio | 0.20% | 0.15%Best |
| AUM | $810M | $360M |
| Dividend Yield | 1.77% | 1.07% |
| Holdings | 2,024 | 248 |
| YTD Return | +11.72% | +11.79%Best |
| 1Y Return | +14.05% | +15.66%Best |
| 3Y Return (annualized) | +15.72%Best | +15.09% |
| 5Y Return (annualized) | +6.51% | - |
| Volatility (annualized) | 14.3%Best | 16.5% |
| Max Drawdown | -20.0%Best | -23.7% |
| $10,000 over 4 years | $15,871Best | $15,820 |
| Top 10 Weight | 4.9%Best | 8.3% |
| Fund Family | Invesco (US) | New York Life Investments |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Dec 23, 2014 | Oct 25, 2022 |
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 25, 2022 to Oct 15, 2026 (4 years).
EQAL vs IQSM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4 years both funds cover.
EQAL vs IQSM Performance
Invesco Russell 1000 Equal Weight ETF (EQAL) is an ETF from Invesco (US) and NYLIM Candriam US Mid Cap Equity ETF (IQSM) is an ETF from New York Life Investments. Over the past year EQAL returned +14.05% while IQSM returned +15.66%. Year to date, EQAL is up 11.72% versus a gain of 11.79% for IQSM.
Over three years, EQAL compounded at +15.72% per year against +15.09% for IQSM. Across the full 4-year window we track, EQAL has the edge at +12.24% annualized vs +12.15%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IQSM has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 14.3% for EQAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.0% for EQAL and -23.7% for IQSM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EQAL charges 0.20% per year while IQSM charges 0.15%. On a $10,000 position that is $20 vs $15 annually, a gap of $5 per year that compounds over a long holding period. On income, EQAL currently yields 1.77% against 1.07% for IQSM.
Holdings Overlap
19.1% of EQAL's money is in holdings IQSM also owns. 85.2% of IQSM's money is in holdings EQAL also owns.
Most of IQSM is already inside EQAL. Owning both mostly buys the same companies twice.
199 positions in common, counted across the 959 positions we hold weights for in EQAL and 246 in IQSM, against full books of 2,024 and 248.
What only one of them owns
Our book lists 41 positions for IQSM that do not appear in our book for EQAL (12.4% of the fund), and 732 for EQAL that do not appear in IQSM (74.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EQAL | Weight in IQSM | Difference |
|---|---|---|---|
| ROKURoku, Inc | 0.44% | 0.82% | 0.38% |
| GHGuardant Health, Inc | 0.11% | 0.97% | 0.86% |
| VIAVViavi Solutions Inc | 0.56% | 0.52% | 0.04% |
| USFDUS Foods Holding Corp | 0.18% | 0.84% | 0.66% |
| MTSIMacom Technology Solutions Holdings, Inc. | 0.07% | 0.88% | 0.81% |
| DINOHollyfrontier | 0.24% | 0.71% | 0.47% |
| PTCPtc, Inc.(A) | 0.07% | 0.86% | 0.79% |
| VTRSViatris | 0.10% | 0.82% | 0.72% |
| CDECoeur Mining Inc | 0.21% | 0.69% | 0.48% |
| SMTCSemtech Corp | 0.08% | 0.80% | 0.72% |
85.2% of IQSM is already inside EQAL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EQAL or IQSM?
EQAL has an expense ratio of 0.20% while IQSM charges 0.15%. IQSM is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, EQAL or IQSM?
Over the past year EQAL returned +14.05% vs +15.66% for IQSM, so IQSM leads on 1-year performance. Over the longest common window we track (4 years), EQAL annualized +12.24% vs +12.15% for IQSM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EQAL or IQSM?
IQSM has been the more volatile fund at 16.5% annualized versus 14.3% for EQAL. Worst drawdown: EQAL -20.0% vs IQSM -23.7%.
Should I hold both EQAL and IQSM?
EQAL and IQSM have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between EQAL and IQSM?
85.2% of IQSM's money is in holdings EQAL also owns. 85.2% of IQSM's is in holdings EQAL also owns. They hold 199 positions in common, counted across the 959 positions we hold weights for in EQAL and 246 in IQSM.
Which pays a higher dividend, EQAL or IQSM?
EQAL yields 1.77% while IQSM yields 1.07%, so EQAL currently pays the higher dividend yield.
Is IQSM better than EQAL?
IQSM has a lower expense ratio. EQAL led over 3Y and the full window, IQSM over 1Y. The two have moved almost in lockstep, correlation 0.96. EQAL is less concentrated, with 4.9% of the fund in its ten largest positions against 8.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.