PIZ vs. RSP
Compare and contrast key facts about Invesco DWA Developed Markets Momentum ETF (PIZ) and Invesco S&P 500 Equal Weight ETF (RSP).
PIZ and RSP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIZ is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright Developed Markets Technical Leaders Index. It was launched on Dec 28, 2007. RSP is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Apr 24, 2003. Both PIZ and RSP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PIZ vs. RSP - Performance Comparison
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PIZ vs. RSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIZ Invesco DWA Developed Markets Momentum ETF | 1.42% | 37.22% | 16.30% | 17.96% | -30.48% | 20.53% | 17.96% | 27.51% | -16.15% | 30.96% |
RSP Invesco S&P 500 Equal Weight ETF | 0.62% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
Returns By Period
In the year-to-date period, PIZ achieves a 1.42% return, which is significantly higher than RSP's 0.62% return. Over the past 10 years, PIZ has underperformed RSP with an annualized return of 9.66%, while RSP has yielded a comparatively higher 11.17% annualized return.
PIZ
- 1D
- 4.43%
- 1M
- -10.41%
- YTD
- 1.42%
- 6M
- 4.63%
- 1Y
- 32.20%
- 3Y*
- 20.23%
- 5Y*
- 9.25%
- 10Y*
- 9.66%
RSP
- 1D
- 2.05%
- 1M
- -5.97%
- YTD
- 0.62%
- 6M
- 2.01%
- 1Y
- 12.65%
- 3Y*
- 11.72%
- 5Y*
- 7.81%
- 10Y*
- 11.17%
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PIZ vs. RSP - Expense Ratio Comparison
PIZ has a 0.80% expense ratio, which is higher than RSP's 0.20% expense ratio.
Return for Risk
PIZ vs. RSP — Risk / Return Rank
PIZ
RSP
PIZ vs. RSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Developed Markets Momentum ETF (PIZ) 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.
| PIZ | RSP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.51 | 0.74 | +0.77 |
Sortino ratioReturn per unit of downside risk | 2.11 | 1.15 | +0.96 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.16 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.08 | +1.10 |
Martin ratioReturn relative to average drawdown | 9.18 | 4.89 | +4.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PIZ | RSP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 0.74 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.48 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.61 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.55 | -0.30 |
Correlation
The correlation between PIZ and RSP is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PIZ vs. RSP - Dividend Comparison
PIZ's dividend yield for the trailing twelve months is around 1.54%, less than RSP's 1.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIZ Invesco DWA Developed Markets Momentum ETF | 1.54% | 1.55% | 1.68% | 1.86% | 2.04% | 1.01% | 0.37% | 1.58% | 1.06% | 1.30% | 2.21% | 1.09% |
RSP Invesco S&P 500 Equal Weight ETF | 1.62% | 1.64% | 1.52% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% |
Drawdowns
PIZ vs. RSP - Drawdown Comparison
The maximum PIZ drawdown since its inception was -60.61%, roughly equal to the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PIZ and RSP.
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Drawdown Indicators
| PIZ | RSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -59.92% | -0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -12.54% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -40.93% | -21.38% | -19.55% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | -39.04% | -1.89% |
Current DrawdownCurrent decline from peak | -10.56% | -5.97% | -4.59% |
Average DrawdownAverage peak-to-trough decline | -14.99% | -6.69% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 2.78% | +0.64% |
Volatility
PIZ vs. RSP - Volatility Comparison
Invesco DWA Developed Markets Momentum ETF (PIZ) has a higher volatility of 10.37% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 4.47%. This indicates that PIZ's price experiences larger fluctuations and is considered to be riskier 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
| PIZ | RSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.37% | 4.47% | +5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 14.75% | 8.83% | +5.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.44% | 17.17% | +4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.44% | 16.20% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 18.36% | +0.96% |