CVY vs. RSP
CVY (Invesco Zacks Multi-Asset Income ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, CVY returned 8.84%/yr vs 12.23%/yr for RSP. Their correlation of 0.88 suggests significant overlap in exposure. CVY charges 1.21%/yr vs 0.20%/yr for RSP.
Performance
CVY vs. RSP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CVY having a 9.65% return and RSP slightly higher at 9.94%. Over the past 10 years, CVY has underperformed RSP with an annualized return of 8.84%, while RSP has yielded a comparatively higher 12.23% annualized return.
CVY
- 1D
- 0.21%
- 1M
- 0.96%
- YTD
- 9.65%
- 6M
- 9.33%
- 1Y
- 17.75%
- 3Y*
- 16.08%
- 5Y*
- 7.84%
- 10Y*
- 8.84%
RSP
- 1D
- -0.34%
- 1M
- 1.51%
- YTD
- 9.94%
- 6M
- 9.07%
- 1Y
- 18.97%
- 3Y*
- 14.87%
- 5Y*
- 8.63%
- 10Y*
- 12.23%
CVY vs. RSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 9.65% | 11.00% | 10.28% | 17.87% | -9.27% | 25.31% | -10.56% | 25.97% | -10.77% | 15.91% |
RSP Invesco S&P 500 Equal Weight ETF | 9.94% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
Correlation
The correlation between CVY and RSP is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2006 | 0.88 |
The correlation between CVY and RSP has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
CVY vs. RSP — Risk / Return Rank
CVY
RSP
CVY vs. RSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and Invesco S&P 500 Equal Weight ETF (RSP). 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.
| CVY | RSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.43 | -0.03 |
| Martin ratioReturn relative to average drawdown | 8.02 | 9.17 | -1.14 |
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Drawdowns
CVY vs. RSP - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than RSP's maximum drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for CVY and RSP.
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Drawdown Indicators
| CVY | RSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -59.92% | -6.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -7.85% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -17.81% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -21.58% | -21.38% | -0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -50.47% | -39.04% | -11.43% |
Current DrawdownCurrent decline from peak | -0.72% | -1.49% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -10.38% | -6.64% | -3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.07% | +0.15% |
Volatility
CVY vs. RSP - Volatility Comparison
The current volatility for Invesco Zacks Multi-Asset Income ETF (CVY) is 2.99%, while Invesco S&P 500 Equal Weight ETF (RSP) has a volatility of 3.63%. This indicates that CVY experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVY | RSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 3.63% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 7.94% | 8.68% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.08% | 11.82% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 16.20% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 18.33% | +1.19% |
CVY vs. RSP - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than RSP's 0.20% expense ratio.
Dividends
CVY vs. RSP - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 4.33%, more than RSP's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 4.33% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
RSP Invesco S&P 500 Equal Weight ETF | 1.53% | 1.64% | 1.52% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% |
Frequently Asked Questions
CVY and RSP have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSP has higher volatility (3.63%) compared to CVY (2.99%). In terms of maximum drawdown, CVY dropped -66.86% vs RSP's -59.92%.
On 10-year performance, RSP leads with 12.23% vs 8.84% for CVY. On fees, RSP is cheaper at 0.20% per year. On volatility, CVY has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSP has performed better with a 12.23% return vs 8.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSP is cheaper with a 0.20% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.33%, compared with 1.53% for RSP.
CVY is categorized as Diversified Portfolio, while RSP is S&P 500. CVY tracks Zacks Multi-Asset Income Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 1.21% for CVY and 0.20% for RSP.
RSP currently has the higher Sharpe Ratio (1.62 vs 1.61), 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.
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