DFCA vs. RSPG
DFCA (Dimensional California Municipal Bond ETF) and RSPG (Invesco S&P 500 Equal Weight Energy ETF) are both exchange-traded funds - DFCA is a Municipal Bonds fund actively managed by Dimensional, while RSPG is a Energy Equities fund tracking the S&P 500 Equal Weight Energy Plus Index. DFCA is actively managed, while RSPG is passively managed. Over the past year, DFCA returned 4.73% vs 37.04% for RSPG. At a correlation of -0.08, they often move in opposite directions. DFCA charges 0.19%/yr vs 0.40%/yr for RSPG.
Performance
DFCA vs. RSPG - Performance Comparison
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Returns By Period
In the year-to-date period, DFCA achieves a 1.25% return, which is significantly lower than RSPG's 25.67% return.
DFCA
- 1D
- 0.05%
- 1M
- 0.70%
- YTD
- 1.25%
- 6M
- 1.35%
- 1Y
- 4.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RSPG
- 1D
- 1.47%
- 1M
- -5.51%
- YTD
- 25.67%
- 6M
- 26.41%
- 1Y
- 37.04%
- 3Y*
- 17.32%
- 5Y*
- 19.74%
- 10Y*
- 9.37%
DFCA vs. RSPG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 1.25% | 2.99% | 1.49% | 2.68% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 25.67% | 7.01% | 6.09% | 13.17% |
Correlation
The correlation between DFCA and RSPG is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | -0.08 |
The correlation between DFCA and RSPG shifts across timeframes, from -0.23 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFCA vs. RSPG — Risk / Return Rank
DFCA
RSPG
DFCA vs. RSPG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional California Municipal Bond ETF (DFCA) and Invesco S&P 500 Equal Weight Energy ETF (RSPG). 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.
| DFCA | RSPG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.28 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 2.71 | -0.03 |
| Martin ratioReturn relative to average drawdown | 8.47 | 7.80 | +0.67 |
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Drawdowns
DFCA vs. RSPG - Drawdown Comparison
The maximum DFCA drawdown since its inception was -3.28%, smaller than the maximum RSPG drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for DFCA and RSPG.
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Drawdown Indicators
| DFCA | RSPG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -79.98% | +76.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | -13.72% | +11.95% |
Max Drawdown (3Y)Largest decline over 3 years | -3.28% | -23.06% | +19.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.17% | — |
Current DrawdownCurrent decline from peak | -0.34% | -11.71% | +11.37% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -25.41% | +24.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 4.76% | -4.20% |
Volatility
DFCA vs. RSPG - Volatility Comparison
The current volatility for Dimensional California Municipal Bond ETF (DFCA) is 0.40%, while Invesco S&P 500 Equal Weight Energy ETF (RSPG) has a volatility of 7.09%. This indicates that DFCA experiences smaller price fluctuations and is considered to be less risky than RSPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCA | RSPG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 7.09% | -6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 1.29% | 16.94% | -15.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.72% | 21.94% | -20.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.46% | 28.26% | -25.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.46% | 33.53% | -31.07% |
DFCA vs. RSPG - Expense Ratio Comparison
DFCA has a 0.19% expense ratio, which is lower than RSPG's 0.40% expense ratio.
Dividends
DFCA vs. RSPG - Dividend Comparison
DFCA's dividend yield for the trailing twelve months is around 2.74%, more than RSPG's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCA Dimensional California Municipal Bond ETF | 2.74% | 2.86% | 2.86% | 1.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RSPG Invesco S&P 500 Equal Weight Energy ETF | 2.11% | 2.60% | 2.43% | 2.84% | 3.43% | 2.37% | 3.15% | 2.15% | 2.18% | 2.55% | 1.14% | 2.80% |
Frequently Asked Questions
DFCA and RSPG have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSPG has higher volatility (7.09%) compared to DFCA (0.40%). In terms of maximum drawdown, DFCA dropped -3.28% vs RSPG's -79.98%.
On 1-year performance, RSPG leads with 37.04% vs 4.73% for DFCA. On fees, DFCA is cheaper at 0.19% per year. On volatility, DFCA has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RSPG has performed better with a 37.04% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFCA is cheaper with a 0.19% expense ratio, compared with 0.40% for RSPG.
DFCA has the higher dividend yield at 2.74%, compared with 2.11% for RSPG.
DFCA is categorized as Municipal Bonds, while RSPG is Energy Equities. They also come from different issuers: Dimensional and Invesco. Their fees differ too: 0.19% for DFCA and 0.40% for RSPG.
DFCA currently has the higher Sharpe Ratio (2.76 vs 1.70), 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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