EFAA vs. RSP

Last updated Jul 17, 2026

EFAA (Invesco MSCI EAFE Income Advantage ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - EFAA is a Derivative Income fund actively managed by Invesco, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. EFAA is actively managed, while RSP is passively managed. Over the past year, EFAA returned 18.59% vs 19.62% for RSP. A 0.66 correlation means they provide meaningful diversification when combined. EFAA charges 0.39%/yr vs 0.20%/yr for RSP.

Performance

EFAA vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI EAFE Income Advantage ETF (EFAA) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFAA achieves a 7.78% return, which is significantly lower than RSP's 13.18% return.

EFAA

• 1D: -0.25%
• 1M: 0.22%
• 6M: 5.72%
• YTD: 7.78%
• 1Y: 18.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSP

• 1D: 0.98%
• 1M: 1.75%
• 6M: 8.65%
• YTD: 13.18%
• 1Y: 19.62%
• 3Y*: 14.03%
• 5Y*: 9.38%
• 10Y*: 11.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EFAA vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFAA Invesco MSCI EAFE Income Advantage ETF	7.78%	25.80%	-3.61%
RSP Invesco S&P 500 Equal Weight ETF	13.18%	11.21%	2.81%

Correlation

The correlation between EFAA and RSP is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 17, 2024	0.66

The correlation between EFAA and RSP has been stable across timeframes, ranging from 0.66 to 0.66 - a consistent structural relationship.

EFAA vs. RSP - Sectors Allocation Comparison

Sectors	EFAA	RSP
Financial Services	24.3%	13.9%
Industrials	19.5%	14.2%
Technology	11.6%	20.9%
Healthcare	10.3%	11.1%
Consumer Cyclical	7.7%	10.0%
Consumer Defensive	6.6%	6.4%
Basic Materials	6.1%	3.9%
Communication Services	4.9%	3.9%
Energy	3.7%	4.0%
Utilities	3.6%	5.7%
Real Estate	1.8%	6.1%

Return for Risk

EFAA vs. RSP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFAA

EFAA Risk / Return Rank: 52
EFAA Sharpe Ratio Rank: 55
EFAA Sortino Ratio Rank: 54
EFAA Omega Ratio Rank: 54
EFAA Calmar Ratio Rank: 44
EFAA Martin Ratio Rank: 53

RSP

RSP Risk / Return Rank: 63
RSP Sharpe Ratio Rank: 63
RSP Sortino Ratio Rank: 66
RSP Omega Ratio Rank: 60
RSP Calmar Ratio Rank: 62
RSP Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EFAA vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI EAFE Income Advantage ETF (EFAA) 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.

	EFAA	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.68	-0.18
Sortino ratio: Return per unit of downside risk	2.13	2.44	-0.31
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	1.84	2.51	-0.67
Martin ratio: Return relative to average drawdown	7.11	9.51	-2.40

EFAA vs. RSP - Sharpe Ratio Comparison

The current EFAA Sharpe Ratio is 1.50, which is comparable to the RSP Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of EFAA and RSP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFAA vs. RSP - Drawdown Comparison

The maximum EFAA drawdown since its inception was -11.97%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for EFAA and RSP.

Drawdown Indicators

	EFAA	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-11.97%	-59.92%	+47.95%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-7.85%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	-0.96%	0.00%	-0.96%
Average Drawdown Average peak-to-trough decline	-1.98%	-6.62%	+4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.07%	+0.55%

Volatility

EFAA vs. RSP - Volatility Comparison

Invesco MSCI EAFE Income Advantage ETF (EFAA) and Invesco S&P 500 Equal Weight ETF (RSP) have volatilities of 3.19% and 3.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFAA	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	3.14%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	8.68%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	11.75%	+0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	16.20%	-3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.02%	18.28%	-5.26%

EFAA vs. RSP - Expense Ratio Comparison

EFAA has a 0.39% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

EFAA vs. RSP - Dividend Comparison

EFAA's dividend yield for the trailing twelve months is around 8.11%, more than RSP's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAA Invesco MSCI EAFE Income Advantage ETF	8.11%	7.94%	3.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RSP Invesco S&P 500 Equal Weight ETF	1.49%	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

Can I hold both EFAA and RSP in my portfolio?

EFAA and RSP have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFAA or RSP?

EFAA has higher volatility (3.19%) compared to RSP (3.14%). In terms of maximum drawdown, EFAA dropped -11.97% vs RSP's -59.92%.

Which ETF is better, EFAA or RSP?

On 1-year performance, RSP leads with 19.62% vs 18.59% for EFAA. On fees, RSP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFAA or RSP?

Over the 1-year period, RSP has performed better with a 19.62% return vs 18.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFAA or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.39% for EFAA.

Which ETF pays a higher dividend yield, EFAA or RSP?

EFAA has the higher dividend yield at 8.11%, compared with 1.49% for RSP.

What is the main difference between EFAA and RSP?

EFAA is categorized as Derivative Income, while RSP is S&P 500. Their fees differ too: 0.39% for EFAA and 0.20% for RSP.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.68 vs 1.50), 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.