FXL vs. RSPT

Last updated Jun 14, 2026

FXL (First Trust Technology AlphaDEX Fund) and RSPT (Invesco S&P 500 Equal Weight Technology ETF) are both Technology Equities funds - FXL tracks the StrataQuant Technology Index while RSPT tracks the S&P 500® Information Technology Index. Both are passively managed. Over the past 10 years, FXL returned 20.76%/yr vs 21.84%/yr for RSPT. Their correlation of 0.92 suggests significant overlap in exposure. FXL charges 0.61%/yr vs 0.40%/yr for RSPT.

Performance

FXL vs. RSPT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Technology AlphaDEX Fund (FXL) and Invesco S&P 500 Equal Weight Technology ETF (RSPT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXL achieves a 25.90% return, which is significantly lower than RSPT's 38.00% return. Over the past 10 years, FXL has underperformed RSPT with an annualized return of 20.76%, while RSPT has yielded a comparatively higher 21.84% annualized return.

FXL

• 1D: 1.27%
• 1M: 9.18%
• YTD: 25.90%
• 6M: 24.57%
• 1Y: 41.44%
• 3Y*: 23.41%
• 5Y*: 11.96%
• 10Y*: 20.76%

RSPT

• 1D: 1.46%
• 1M: 6.83%
• YTD: 38.00%
• 6M: 36.68%
• 1Y: 63.04%
• 3Y*: 29.59%
• 5Y*: 17.73%
• 10Y*: 21.84%

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

FXL vs. RSPT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXL First Trust Technology AlphaDEX Fund	25.90%	13.29%	16.13%	40.50%	-30.44%	18.20%	54.20%	38.66%	2.72%	35.82%
RSPT Invesco S&P 500 Equal Weight Technology ETF	38.00%	22.15%	15.16%	35.18%	-24.50%	28.53%	30.21%	42.07%	-0.61%	32.98%

Correlation

The correlation between FXL and RSPT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.92

The correlation between FXL and RSPT has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

FXL vs. RSPT - Sectors Allocation Comparison

Sectors	FXL	RSPT
Technology	88.5%	97.4%
Communication Services	4.8%	-
Industrials	3.8%	1.1%
Consumer Cyclical	1.0%	-
Financial Services	1.0%	0.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	1.5%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FXL vs. RSPT — Risk / Return Rank

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

FXL

FXL Risk / Return Rank: 56
FXL Sharpe Ratio Rank: 55
FXL Sortino Ratio Rank: 50
FXL Omega Ratio Rank: 50
FXL Calmar Ratio Rank: 66
FXL Martin Ratio Rank: 59

RSPT

RSPT Risk / Return Rank: 87
RSPT Sharpe Ratio Rank: 89
RSPT Sortino Ratio Rank: 82
RSPT Omega Ratio Rank: 81
RSPT Calmar Ratio Rank: 92
RSPT Martin Ratio Rank: 91

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.

FXL vs. RSPT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Technology AlphaDEX Fund (FXL) and Invesco S&P 500 Equal Weight Technology ETF (RSPT). 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.

	FXL	RSPT	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.61	-0.97
Sortino ratio: Return per unit of downside risk	2.19	3.17	-0.98
Omega ratio: Gain probability vs. loss probability	1.28	1.42	-0.14
Calmar ratio: Return relative to maximum drawdown	2.89	5.28	-2.40
Martin ratio: Return relative to average drawdown	9.33	18.68	-9.35

FXL vs. RSPT - Sharpe Ratio Comparison

The current FXL Sharpe Ratio is 1.64, which is lower than the RSPT Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FXL and RSPT, 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

FXL vs. RSPT - Drawdown Comparison

The maximum FXL drawdown since its inception was -61.41%, roughly equal to the maximum RSPT drawdown of -58.91%. Use the drawdown chart below to compare losses from any high point for FXL and RSPT.

Drawdown Indicators

	FXL	RSPT	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-58.91%	-2.50%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-11.47%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	-26.62%	-1.65%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-32.49%	-6.00%
Max Drawdown (10Y) Largest decline over 10 years	-38.49%	-33.67%	-4.82%
Current Drawdown Current decline from peak	-5.44%	-7.02%	+1.58%
Average Drawdown Average peak-to-trough decline	-11.36%	-8.90%	-2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	3.24%	+0.95%

Volatility

FXL vs. RSPT - Volatility Comparison

First Trust Technology AlphaDEX Fund (FXL) and Invesco S&P 500 Equal Weight Technology ETF (RSPT) have volatilities of 11.12% and 11.32%, 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

	FXL	RSPT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.12%	11.32%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	19.36%	19.35%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	23.86%	23.22%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.37%	24.38%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.41%	23.92%	+1.49%

FXL vs. RSPT - Expense Ratio Comparison

FXL has a 0.61% expense ratio, which is higher than RSPT's 0.40% expense ratio.

Dividends

FXL vs. RSPT - Dividend Comparison

FXL has not paid dividends to shareholders, while RSPT's dividend yield for the trailing twelve months is around 0.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXL First Trust Technology AlphaDEX Fund	0.00%	0.01%	0.11%	0.41%	0.34%	0.11%	0.04%	0.37%	0.32%	0.27%	1.12%	0.36%
RSPT Invesco S&P 500 Equal Weight Technology ETF	0.27%	0.39%	0.44%	0.56%	0.71%	0.50%	1.29%	0.92%	0.98%	0.84%	1.16%	1.18%

Frequently Asked Questions

Can I hold both FXL and RSPT in my portfolio?

With a correlation of 0.96, FXL and RSPT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FXL or RSPT?

RSPT has higher volatility (11.32%) compared to FXL (11.12%). In terms of maximum drawdown, FXL dropped -61.41% vs RSPT's -58.91%.

Which ETF is better, FXL or RSPT?

On 10-year performance, RSPT leads with 21.84% vs 20.76% for FXL. On fees, RSPT is cheaper at 0.40% per year. On volatility, FXL has been the lower-risk option at 11.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXL or RSPT?

Over the 10-year period, RSPT has performed better with a 21.84% return vs 20.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXL or RSPT?

RSPT is cheaper with a 0.40% expense ratio, compared with 0.61% for FXL.

Which ETF pays a higher dividend yield, FXL or RSPT?

RSPT has the higher dividend yield at 0.27%, compared with 0.00% for FXL.

What is the main difference between FXL and RSPT?

FXL tracks StrataQuant Technology Index, while RSPT tracks S&P 500® Information Technology Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.61% for FXL and 0.40% for RSPT.

Which has better risk-adjusted returns?

RSPT currently has the higher Sharpe Ratio (2.61 vs 1.64), 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.