EQL vs EUSA: Grades, Fees and Holdings Compared

ALPS Equal Sector Weight ETF

EQLBNYSE Arca

iShares MSCI USA Equal Weighted ETF

EUSAANYSE Arca

Overlap

48.5%by weight

Expense ratio

EUSA −0.10pt a year

EQL0.19%EUSA0.09%

Avg volume · 30D

EUSA 1.8×the volume

EQL44.7KEUSA78.8K

10Y return · a year

EQL +5.4pt

EQL+17.1%EUSA+11.7%

EQL vs EUSA Performance

Oct 29, 2021 – Oct 30, 2026

+85.2%EQL+41.1%EUSA

Expense ratio: EQL 0.19%; EUSA 0.09%, better
Fund size: EQL $786M; EUSA $1.89B
1Y total return: EQL +14.7%, better; EUSA +14.1%
Yield (12M): EQL 1.29%; EUSA 1.40%, better
Holdings: EQL 498; EUSA 518
Avg volume (30D): EQL 44.7K sh; EUSA 78.8K sh, better
NAV per share: EQL $51.91; EUSA $115.27
52W range

ETF.net Grade

Pillar letters and Scores for EQL, EUSA, with each pillar’s weight
Pillar	EQL	EUSA
Cost30% weight	B62	A88Higher
Mission25% weight	A89	A100Higher
Risk15% weight	A74Higher	C42
Tradability15% weight	C46	A73Higher
Holdings10% weight	C44	A81Higher
Durability5% weight	B64	A78Higher

Rank among US Equal Weight funds

How we build Categories ›

Same Category. EQL and EUSA are both graded against the same 9 US Equal Weight funds, so their Grades compare head to head.

US Equal Weight⁠

Category · 9 funds

See all 9 ›

EUSA ranks 1st and EQL 4th of 9 funds in the US Equal Weight Category.

Rank 1AEUSAiShares MSCI USA Equal Weighted ETFScore 80
Rank 2AGSEWGoldman Sachs Equal Weight U.S. Large Cap Equity ETFScore 78
Rank 3AEQALInvesco Russell 1000 Equal Weight ETFScore 70
Rank 4BEQLALPS Equal Sector Weight ETFScore 66
Rank 5BEQWLInvesco S&P 100 Equal Weight ETFScore 65

Our read on each fund

ETF.net Research

EQLBALPS Equal Sector Weight ETF

EUSAAiShares MSCI USA Equal Weighted ETF

In short

EQL Every equal-weight fund levels something. EQL levels sectors: eleven U.S. economic sectors, each handed an equal slice, so no single sector sets the agenda. Running since 2009 at 0.19% a year.

EUSA Equal weight, iShares style: each of roughly 500 large and mid cap US stocks gets the same slice, so the megacaps stop running the show. Around since 2010 and priced at 0.09%, less than half what the typical equal-weight fund charges.

Stated mandate

EQL EQL passively seeks to track, before fees and expenses, the VettaFi Modelist Equal Weight Sector 500 Index. The index equally weights eleven U.S. economic sectors and float-adjusts stocks within each sector.

EUSA The fund seeks to track an index composed of equally weighted U.S. stocks.

Why people hold it

EQL Eleven sectors, eleven equal slices at each index reset. Any sector's share of the portfolio is capped by the rulebook, not by a manager's opinion.alpsfunds.com
0.19% a year, a shade under the 0.20% typical of its equal-weight peer group.
Trading since 2009, one of the longer-running equal-weight funds on the tape, and it sits in the upper half of that peer group.
A plain index tracker with a published benchmark (the VettaFi Modelist Equal Weight Sector 500 Index) and no discretionary tilts bolted on.alpsfunds.com

EUSA 0.09% a year against a 0.20% median for equal-weight US funds, and nothing in the peer group undercuts it (GSEW matches).
Every holding gets the same slice, about 500 of them, so no handful of giants sets the tone the way it does in a cap-weighted US index.ishares.com
Live since 2010, a multi-billion-dollar fund, and it has hugged the MSCI USA Equal Weighted Index closely, one of the tightest jobs in its peer group.

Worth knowing

EQL Cheaper equal-weight funds exist: GSEW and EUSA both run 0.09%, though they level individual stocks rather than sectors.
Thinly traded next to the giants in its category, which can mean wider bid-ask spreads at the moment you trade.
Equal sectors is not equal stocks. Inside each sector slice, names are float-adjusted, so the biggest companies still lead their own group.alpsfunds.com

EUSA Equal weighting tilts the portfolio toward mid caps, so its path can diverge widely from a standard cap-weighted US index in either direction.
Moderately traded rather than a category volume leader, so spreads and execution deserve attention on larger orders.
Income arrives quarterly, not monthly.

Full EQL profile⁠

Full EUSA profile⁠

EQL vs EUSA Holdings

How EQL and EUSA differ

Overlap by weight

48.5%

Shared holdings make up 98.4% of EQL and 92.2% of EUSA.

Level by level

Holdings472 in both48.5%
Sector11 Sectors75.4%
Countryby domicile98.4%
Asset classEquity100%

Sector

Sector weights in EQL and EUSA, widest gap first
Sector	More in EQLMore in EUSA	EQL	EUSA
Technology	EUSA +8.1 points	10.8%	18.9%
Financials	EUSA +6.8 points	8.6%	15.4%
Industrials	EUSA +6.7 points	8.7%	15.4%
Communication	EQL +6.1 points	9.5%	3.4%
Energy	EQL +4.3 points	9.0%	4.7%
Materials	EQL +4.1 points	8.2%	4.1%
Real Estate	EQL +3.8 points	8.6%	4.8%
Consumer Staples	EQL +3.4 points	9.1%	5.7%
Utilities	EQL +2.8 points	8.6%	5.8%
Health Care	EUSA +2.4 points	9.4%	11.9%
Consumer Discretionary	EUSA +0.6 points	9.4%	10.0%

Country, concentration and asset class

Country by domicile

Country weights in EQL and EUSA, widest gap first
Country	More in EQLMore in EUSA	EQL	EUSA
United States	EQL +1.6 points	99.4%	97.8%
Other countries (8)	EUSA +1.6 points	0.6%	2.2%

Concentration

Weight in the 10 largest Holdings

EQL23.1%
EUSA2.6%

Securities held

EQL497
EUSA515

Asset class

EQL: Equity
EUSA: Equity

Holdings

Only in EQL25
In both472
Only in EUSA43

Only in EQL

25 securities, 1.1% of EQL by weight

Royal Gold Inc.0.16%
Spotify Technology SA0.13%
RBC Bearings Inc.0.12%
Moderna Inc.0.12%
Talen Energy Corp.0.10%
Albemarle Corp.0.09%
Alcoa Corp.0.08%
US Foods Holding Corp.0.07%
Tenet Healthcare Corp.0.03%
Southwest Airlines Co.0.03%
Viatris Inc.0.03%
Viking Holdings Ltd.0.03%
Woodward Inc.0.03%
TD SYNNEX Corp.0.03%
Somnigroup International Inc.0.02%
Lululemon Athletica Inc.0.02%
Sterling Infrastructure Inc.0.02%
MACOM Technology Solutions Holdings Inc.<0.01%
Akamai Technologies Inc.<0.01%
Lattice Semiconductor Corp.<0.01%
MKS Inc.<0.01%
Nextpower Inc.<0.01%
IonQ Inc.<0.01%
SiTime Corp.<0.01%
GLOBALFOUNDRIES Inc.<0.01%

Only in EUSA

43 securities, 7.7% of EUSA by weight

Tradeweb Markets Inc Class A0.24%
Sharkninja0.23%
Nxp Semiconductors NV0.23%
Everest Group0.23%
Waste Connections0.22%
Samsara Class A0.22%
Masco0.22%
Corebridge Financial Inc0.21%
Ball Corp0.21%
Sunbelt Rentals Holdings Inc0.21%
Skyworks Solutions0.21%
Nordson0.21%
Cf Industries Holdings Inc0.21%
Kimco Realty Reit Corp0.20%
Pinnacle Financial Partners0.20%
Idex0.20%
Hyatt Hotels Corp Class A0.20%
Roivant Sciences Ltd0.20%
Regency Centers Reit Corp0.20%
Crh Public Limited PLC0.19%
Neurocrine Biosciences0.19%
Vylor0.18%
Amrize AG0.18%
Fedex Freight Holding Company Inc0.18%
Honeywell Aerospace Inc0.18%
Toast Class A0.18%
Genuine Parts0.18%
Deckers Outdoor0.18%
Technipfmc PLC0.18%
W. P. Carey Reit0.18%
Mercadolibre0.17%
Mccormick & Co Non-Voting0.17%
Flutter Entertainment PLC0.17%
Fidelity National Financial Inc0.17%
Cooper0.16%
Annaly Capital Management Reit0.16%
Flex Ltd0.15%
Dicks Sporting0.15%
Iren0.11%
Heico Class A0.10%
Alphabet Class C0.07%
Fox Class B0.07%
Hologic Inc0.00%

Weight gaps

The 100 widest of 472 Holdings in both funds.

Holding weights in EQL and EUSA, widest gap first
Holding	More in EQLMore in EUSA	EQL	EUSA
Alphabet Inc.GOOGL	EQL +4.10 points	4.19%	0.09%
Amazon.com Inc.AMZN	EQL +3.35 points	3.53%	0.18%
ExxonMobil Holdings Corp.XOM	EQL +2.66 points	2.89%	0.23%
Linde PLCLIN	EQL +1.70 points	1.91%	0.21%
Meta Platforms Inc.META	EQL +1.62 points	1.85%	0.23%
Apple Inc.AAPL	EQL +1.58 points	1.80%	0.22%
Eli Lilly & Co.LLY	EQL +1.53 points	1.75%	0.22%
NVIDIA Corp.NVDA	EQL +1.51 points	1.70%	0.19%
Chevron Corp.CVX	EQL +1.51 points	1.74%	0.23%
Walmart Inc.WMT	EQL +1.49 points	1.71%	0.22%
Tesla Inc.TSLA	EQL +1.46 points	1.69%	0.23%
Costco Wholesale Corp.COST	EQL +1.19 points	1.40%	0.21%
Welltower Inc.WELL	EQL +1.17 points	1.37%	0.20%
Microsoft Corp.MSFT	EQL +1.14 points	1.36%	0.22%
Coca-Cola Co.KO	EQL +1.05 points	1.26%	0.21%
NextEra Energy Inc.NEE	EQL +0.97 points	1.17%	0.20%
Procter & Gamble Co.PG	EQL +0.94 points	1.17%	0.23%
Berkshire Hathaway Inc.BRK.B	EQL +0.88 points	1.10%	0.22%
Prologis Inc.PLD	EQL +0.81 points	0.99%	0.18%
Philip Morris International Inc.PM	EQL +0.80 points	1.02%	0.22%
JPMorgan Chase & Co.JPM	EQL +0.79 points	0.98%	0.19%
Johnson & JohnsonJNJ	EQL +0.76 points	0.96%	0.20%
Newmont Corp.NEM	EQL +0.74 points	0.91%	0.17%
Equinix Inc.EQIX	EQL +0.62 points	0.81%	0.19%
Visa Inc.V	EQL +0.54 points	0.77%	0.23%
Freeport-McMoRan Inc.FCX	EQL +0.54 points	0.72%	0.18%
AbbVie Inc.ABBV	EQL +0.54 points	0.76%	0.22%
Southern Co.SO	EQL +0.52 points	0.72%	0.20%
American Tower Corp.AMT	EQL +0.49 points	0.71%	0.22%
Duke Energy Corp.DUK	EQL +0.46 points	0.67%	0.21%
ConocoPhillipsCOP	EQL +0.45 points	0.69%	0.24%
Sherwin-Williams Co.SHW	EQL +0.42 points	0.61%	0.19%
Constellation Energy Corp.CEG	EQL +0.41 points	0.60%	0.19%
Ecolab Inc.ECL	EQL +0.40 points	0.61%	0.21%
PepsiCo Inc.PEP	EQL +0.39 points	0.58%	0.19%
Simon Property Group Inc.SPG	EQL +0.37 points	0.57%	0.20%
Broadcom Inc.AVGO	EQL +0.36 points	0.54%	0.18%
Air Products and Chemicals Inc.APD	EQL +0.36 points	0.57%	0.21%
Digital Realty Trust Inc.DLR	EQL +0.35 points	0.54%	0.19%
Mastercard Inc.MA	EQL +0.34 points	0.56%	0.22%
Merck & Co. Inc.MRK	EQL +0.34 points	0.54%	0.20%
UnitedHealth Group Inc.UNH	EQL +0.32 points	0.53%	0.21%
General Electric Co.GE	EQL +0.31 points	0.48%	0.17%
Home Depot Inc.HD	EQL +0.30 points	0.49%	0.19%
Okta Inc.OKTA	EUSA +0.29 points	0.01%	0.30%
Caterpillar Inc.CAT	EQL +0.28 points	0.43%	0.15%
Nucor Corp.NUE	EQL +0.28 points	0.50%	0.22%
American Electric Power Co. Inc.AEP	EQL +0.27 points	0.48%	0.21%
Space Exploration Technologies Corp.SPCX	EQL +0.27 points	0.46%	0.19%
Realty Income Corp.O	EQL +0.26 points	0.44%	0.18%
Zscaler Inc.ZS	EUSA +0.25 points	<0.01%	0.26%
PTC Inc.PTC	EUSA +0.25 points	<0.01%	0.26%
Public StoragePSA	EQL +0.24 points	0.44%	0.20%
Strategy Inc.MSTR	EUSA +0.23 points	0.02%	0.25%
RTX Corp.RTX	EQL +0.23 points	0.41%	0.18%
Bank of America Corp.BAC	EQL +0.22 points	0.38%	0.16%
Marathon Petroleum Corp.MPC	EQL +0.22 points	0.47%	0.25%
VeriSign Inc.VRSN	EUSA +0.22 points	<0.01%	0.23%
Everpure Inc.P	EUSA +0.22 points	0.01%	0.23%
Roper Technologies Inc.ROP	EUSA +0.21 points	0.02%	0.23%
Atlassian Corp.TEAM	EUSA +0.21 points	0.01%	0.22%
Gen Digital Inc.GEN	EUSA +0.20 points	<0.01%	0.21%
Entegris Inc.ENTG	EUSA +0.21 points	<0.01%	0.22%
Ulta Beauty Inc.ULTA	EUSA +0.20 points	0.04%	0.24%
EchoStar Corp.ECHO	EUSA +0.20 points	0.02%	0.22%
Cognizant Technology Solutions Corp.CTSH	EUSA +0.20 points	0.01%	0.21%
Synopsys Inc.SNPS	EUSA +0.20 points	0.03%	0.23%
Cboe Global Markets Inc.CBOE	EUSA +0.20 points	0.04%	0.24%
Valero Energy Corp.VLO	EQL +0.20 points	0.43%	0.23%
Dominion Energy Inc.D	EQL +0.19 points	0.39%	0.20%
First Citizens BancShares Inc.FCNCA	EUSA +0.20 points	0.02%	0.22%
CDW Corp.CDW	EUSA +0.19 points	0.03%	0.22%
W R Berkley Corp.WRB	EUSA +0.19 points	0.02%	0.21%
Netflix Inc.NFLX	EQL +0.19 points	0.35%	0.16%
Vivmark ResidentialVMRK	EQL +0.20 points	0.39%	0.19%
Fortive Corp.FTV	EUSA +0.19 points	0.03%	0.22%
NetApp Inc.NTAP	EUSA +0.20 points	0.01%	0.21%
West Pharmaceutical Services Inc.WST	EUSA +0.20 points	0.04%	0.24%
United Therapeutics Corp.UTHR	EUSA +0.19 points	0.04%	0.23%
Cincinnati Financial Corp.CINF	EUSA +0.19 points	0.03%	0.22%
Global Payments Inc.GPN	EUSA +0.19 points	0.02%	0.21%
Mettler-Toledo International Inc.MTD	EUSA +0.19 points	0.05%	0.24%
Phillips 66PSX	EQL +0.18 points	0.42%	0.24%
TE Connectivity PLCTEL	EUSA +0.19 points	0.02%	0.21%
Microchip Technology Inc.MCHP	EUSA +0.18 points	0.02%	0.20%
Best Buy Co. Inc.BBY	EUSA +0.19 points	0.03%	0.21%
Markel Group Inc.MKL	EUSA +0.19 points	0.02%	0.21%
Workday Inc.WDAY	EUSA +0.19 points	0.01%	0.20%
ROBLOX Corp.RBLX	EUSA +0.18 points	0.04%	0.22%
Estee Lauder Cos. Inc.EL	EUSA +0.18 points	0.04%	0.22%
Veeva Systems Inc.VEEV	EUSA +0.18 points	0.07%	0.25%
HP Inc.HPQ	EUSA +0.18 points	<0.01%	0.19%
Hewlett Packard Enterprise Co.HPE	EUSA +0.18 points	0.03%	0.21%
Jacobs Solutions Inc.J	EUSA +0.18 points	0.03%	0.21%
Loews Corp.L	EUSA +0.18 points	0.02%	0.20%
Lumentum Holdings Inc.LITE	EUSA +0.18 points	0.02%	0.20%
Veralto Corp.VLTO	EUSA +0.18 points	0.04%	0.22%
Autodesk Inc.ADSK	EUSA +0.18 points	0.02%	0.20%
Circle Internet Group Inc.CRCL	EUSA +0.18 points	<0.01%	0.19%
Illumina Inc.ILMN	EUSA +0.18 points	0.05%	0.23%

All EQL holdings⁠All 515 EUSA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EQL vs EUSA Cost

Overpaying EQL vs EUSA

$2,054

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EQL 0.19%
$3,952
EUSA 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

EQL 0.19%
EUSA 0.09%
Overpaying

Year by year

Year	EQL	EUSA	Overpaying
10	$347	$165	$182
20	$1,351	$646	$705
30	$3,952	$1,898	$2,054

Expense ratio

0.19%EQL
0.09%EUSA, cheaper

EUSA0.09%EQL0.19%

0.09%0.50%

Middle half of US Equal Weight funds
Median 0.20%

EUSA cheapest of 9 funds

EQL 3rd cheapest of 9 funds

EQL vs EUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EQL 1.29%; EUSA 1.40%, better
Payout (12M): EQL $0.67; EUSA $1.61
Last payment: EQL $0.18; EUSA $0.39
Ex-dividend: EQL Sep 24, 2026; EUSA Sep 15, 2026
Paid on: EQL Sep 29, 2026; EUSA Sep 18, 2026
Frequency: EQL Quarterly; EUSA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EQLQuarterly · 39 paymentsAll EQL payments⁠

EUSAQuarterly · 40 paymentsAll EUSA payments⁠

EQL vs EUSA Risk

Fall from peak · 5 years

EQL
EUSA

Risk facts

VolatilityStd dev, 3 years: EQL 10.5%, betterEUSA 13.0%
Return per unit of riskSharpe ratio, 3 years: EQL 1.46, betterEUSA 1.06
Worst fallMax drawdown, 5 years: EQL −17.4%, betterEUSA −25.2%
Market sensitivityBeta, 5 years: EQL 0.73EUSA 0.98; Market = 1

Popular comparisons

EQLBvsGSEWA
ALPS Equal Sector Weight ETF · Goldman Sachs Equal Weight U.S. Large Cap Equity ETF
Expense ratio
0.19% · 0.09%
Category
EUSAAvsGSEWA
iShares MSCI USA Equal Weighted ETF · Goldman Sachs Equal Weight U.S. Large Cap Equity ETF
Expense ratio
0.09% · 0.09%
Category
EQLBvsEQALA
ALPS Equal Sector Weight ETF · Invesco Russell 1000 Equal Weight ETF
Expense ratio
0.19% · 0.20%
Category
EUSAAvsEQALA
iShares MSCI USA Equal Weighted ETF · Invesco Russell 1000 Equal Weight ETF
Expense ratio
0.09% · 0.20%
Category
EQLBvsEQWLB
ALPS Equal Sector Weight ETF · Invesco S&P 100 Equal Weight ETF
Expense ratio
0.19% · 0.25%
Category
EUSAAvsEQWLB
iShares MSCI USA Equal Weighted ETF · Invesco S&P 100 Equal Weight ETF
Expense ratio
0.09% · 0.25%
Category