EQAL vs SMIZ
Invesco Russell 1000 Equal Weight ETF vs Zacks Small/Mid Cap ETF
Which is better, EQAL or SMIZ?
Each has led over a different period.
EQAL has a lower expense ratio. EQAL led over 1Y, SMIZ over 3Y and the full window. EQAL is less concentrated, with 4.9% of the fund in its ten largest positions against 11.7%.
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 | SMIZ |
|---|---|---|
| Expense Ratio | 0.20%Best | 0.55% |
| AUM | $810M | $280M |
| Dividend Yield | 1.77% | 0.56% |
| Holdings | 2,024 | 402 |
| YTD Return | +10.53%Best | +9.29% |
| 1Y Return | +13.19%Best | +10.75% |
| 3Y Return (annualized) | +15.33% | +18.63%Best |
| 5Y Return (annualized) | +6.31% | - |
| Volatility (annualized) | 13.0%Best | 17.2% |
| Max Drawdown | -20.0%Best | -25.0% |
| $10,000 over 3 years | $15,666 | $16,949Best |
| Top 10 Weight | 4.9%Best | 11.7% |
| Fund Family | Invesco (US) | Zacks |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Dec 23, 2014 | Oct 3, 2023 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 3, 2023 to Oct 14, 2026 (3 years).
EQAL vs SMIZ 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 3 years both funds cover.
EQAL vs SMIZ Performance
Invesco Russell 1000 Equal Weight ETF (EQAL) is an ETF from Invesco (US) and Zacks Small/Mid Cap ETF (SMIZ) is an ETF from Zacks. Over the past year EQAL returned +13.19% while SMIZ returned +10.75%. Year to date, EQAL is up 10.53% versus a gain of 9.29% for SMIZ.
Over three years, EQAL compounded at +15.33% per year against +18.63% for SMIZ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMIZ has been the more volatile fund, with annualized monthly volatility of 17.2% compared with 13.0% 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 -25.0% for SMIZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EQAL charges 0.20% per year while SMIZ charges 0.55%. On a $10,000 position that is $20 vs $55 annually, a gap of $35 per year that compounds over a long holding period. On income, EQAL currently yields 1.77% against 0.56% for SMIZ.
Holdings Overlap
9.3% of EQAL's money is in holdings SMIZ also owns. 49.3% of SMIZ's money is in holdings EQAL also owns.
The two portfolios partly overlap.
100 positions in common, counted across the 959 positions we hold weights for in EQAL and 199 in SMIZ, against full books of 2,024 and 402.
What only one of them owns
Our book lists 84 positions for SMIZ that do not appear in our book for EQAL (41.4% of the fund), and 831 for EQAL that do not appear in SMIZ (83.7%).
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 SMIZ | Difference |
|---|---|---|---|
| EMEEmcor Group Inc | 0.05% | 1.59% | 1.54% |
| ANETArista Networks Inc. | 0.48% | 1.16% | 0.68% |
| FIXComfort Systems USA Inc. | 0.05% | 1.11% | 1.06% |
| AMGAffiliated Managers Group Inc. | 0.07% | 1.07% | 1.00% |
| PSXPhillips 66 | 0.24% | 0.88% | 0.64% |
| LITELumentum Holdings Inc | 0.51% | 0.58% | 0.07% |
| ARWArrow Electronics Inc. | 0.07% | 0.99% | 0.92% |
| EXPDExpeditors International Of Washington Inc | 0.04% | 0.98% | 0.94% |
| NTRSNorthern Trust Corp. | 0.06% | 0.96% | 0.90% |
| WTSWatts Water Technologies Inc | 0.05% | 0.87% | 0.82% |
49.3% of SMIZ 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 SMIZ?
EQAL has an expense ratio of 0.20% while SMIZ charges 0.55%. EQAL is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, EQAL or SMIZ?
Over the past year EQAL returned +13.19% vs +10.75% for SMIZ, so EQAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EQAL or SMIZ?
SMIZ has been the more volatile fund at 17.2% annualized versus 13.0% for EQAL. Worst drawdown: EQAL -20.0% vs SMIZ -25.0%.
Should I hold both EQAL and SMIZ?
EQAL and SMIZ have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EQAL and SMIZ?
49.3% of SMIZ's money is in holdings EQAL also owns. 49.3% of SMIZ's is in holdings EQAL also owns. They hold 100 positions in common, counted across the 959 positions we hold weights for in EQAL and 199 in SMIZ.
Which pays a higher dividend, EQAL or SMIZ?
EQAL yields 1.77% while SMIZ yields 0.56%, so EQAL currently pays the higher dividend yield.
Is SMIZ better than EQAL?
EQAL has a lower expense ratio. EQAL led over 1Y, SMIZ over 3Y and the full window. EQAL is less concentrated, with 4.9% of the fund in its ten largest positions against 11.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.