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PNQI vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PNQI vs. RSP

Last updated Jun 26, 2026

PNQI (Invesco NASDAQ Internet ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet 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, PNQI returned 11.73%/yr vs 12.68%/yr for RSP. A 0.67 correlation means they provide meaningful diversification when combined. PNQI charges 0.62%/yr vs 0.20%/yr for RSP.

Performance

PNQI vs. RSP - Performance Comparison

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

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Returns By Period

In the year-to-date period, PNQI achieves a -18.59% return, which is significantly lower than RSP's 11.44% return. Over the past 10 years, PNQI has underperformed RSP with an annualized return of 11.73%, while RSP has yielded a comparatively higher 12.68% annualized return.

PNQI

1D
-2.67%
1M
-8.54%
YTD
-18.59%
6M
-19.34%
1Y
-13.81%
3Y*
12.87%
5Y*
-3.03%
10Y*
11.73%

RSP

1D
0.65%
1M
2.37%
YTD
11.44%
6M
10.16%
1Y
20.34%
3Y*
15.16%
5Y*
8.77%
10Y*
12.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PNQI vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PNQI
Invesco NASDAQ Internet ETF		-18.59%15.56%29.44%60.69%-47.92%-5.57%61.36%28.76%-5.08%40.05%
RSP
Invesco S&P 500 Equal Weight ETF		11.44%11.21%12.79%13.70%-11.62%29.41%12.66%28.91%-7.84%18.52%

Correlation

The correlation between PNQI and RSP is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Jun 13, 2008

0.67

The correlation between PNQI and RSP shifts across timeframes, from 0.49 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

PNQI vs. RSP - Sectors Allocation Comparison

Sectors
PNQI
RSP

Technology

39.8%
20.9%

Communication Services

30.4%
3.9%

Consumer Cyclical

27.0%
10.0%

Financial Services

2.4%
13.9%

Real Estate

0.4%
6.1%

Industrials

0.1%
14.2%

Healthcare

0.0%
11.1%

Basic Materials

-

3.9%

Consumer Defensive

-

6.4%

Energy

-

4.0%

Utilities

-

5.7%

Technology

PNQI
39.8%
RSP
20.9%

Communication Services

PNQI
30.4%
RSP
3.9%

Consumer Cyclical

PNQI
27.0%
RSP
10.0%

Financial Services

PNQI
2.4%
RSP
13.9%

Real Estate

PNQI
0.4%
RSP
6.1%

Industrials

PNQI
0.1%
RSP
14.2%

Healthcare

PNQI
0.0%
RSP
11.1%

Basic Materials

PNQI

-

RSP
3.9%

Consumer Defensive

PNQI

-

RSP
6.4%

Energy

PNQI

-

RSP
4.0%

Utilities

PNQI

-

RSP
5.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco NASDAQ Internet ETF

Invesco S&P 500 Equal Weight ETF

Often compared with PNQI:
PNQI vs. QQQPNQI vs. FDNPNQI vs. OGIGPNQI vs. XNTKPNQI vs. EUFNPNQI vs. SMHPNQI vs. IYW
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

PNQI vs. RSP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PNQI
PNQI Risk / Return Rank: 44
Overall Rank
PNQI Sharpe Ratio Rank: 44
Sharpe Ratio Rank
PNQI Sortino Ratio Rank: 44
Sortino Ratio Rank
PNQI Omega Ratio Rank: 44
Omega Ratio Rank
PNQI Calmar Ratio Rank: 55
Calmar Ratio Rank
PNQI Martin Ratio Rank: 44
Martin Ratio Rank
RSP
RSP Risk / Return Rank: 6161
Overall Rank
RSP Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
RSP Sortino Ratio Rank: 6262
Sortino Ratio Rank
RSP Omega Ratio Rank: 5656
Omega Ratio Rank
RSP Calmar Ratio Rank: 6161
Calmar Ratio Rank
RSP Martin Ratio Rank: 6363
Martin Ratio Rank
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.

PNQI vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) 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.

PNQIRSPDifference
Sharpe ratioReturn per unit of total volatility
-0.74
1.74

-2.47

Sortino ratioReturn per unit of downside risk
-0.91
2.50

-3.41

Omega ratioGain probability vs. loss probability

0.89

1.30

-0.41

Calmar ratioReturn relative to maximum drawdown

-0.56

2.60

-3.16

Martin ratioReturn relative to average drawdown

-1.20

9.83

-11.02

PNQI vs. RSP - Sharpe Ratio Comparison

The current PNQI Sharpe Ratio is -0.74, which is lower than the RSP Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PNQI 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.

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Drawdowns

PNQI vs. RSP - Drawdown Comparison

The maximum PNQI drawdown since its inception was -59.70%, roughly equal to the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PNQI and RSP.

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Drawdown Indicators

PNQIRSPDifference

Max Drawdown

Largest peak-to-trough decline

-59.70%

-59.92%

+0.22%

Max Drawdown (1Y)

Largest decline over 1 year

-24.85%

-7.85%

-17.00%

Max Drawdown (3Y)

Largest decline over 3 years

-24.85%

-17.81%

-7.04%

Max Drawdown (5Y)

Largest decline over 5 years

-59.56%

-21.38%

-38.18%

Max Drawdown (10Y)

Largest decline over 10 years

-59.70%

-39.04%

-20.66%

Current Drawdown

Current decline from peak

-23.06%

-0.15%

-22.91%

Average Drawdown

Average peak-to-trough decline

-12.98%

-6.64%

-6.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.55%

2.07%

+9.48%

Volatility

PNQI vs. RSP - Volatility Comparison

Invesco NASDAQ Internet ETF (PNQI) has a higher volatility of 7.49% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.60%. This indicates that PNQI'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

PNQIRSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.49%

3.60%

+3.89%

Volatility (6M)

Calculated over the trailing 6-month period

15.12%

8.69%

+6.43%

Volatility (1Y)

Calculated over the trailing 1-year period

18.83%

11.79%

+7.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.93%

16.20%

+10.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.32%

18.32%

+7.00%

PNQI vs. RSP - Expense Ratio Comparison

PNQI has a 0.62% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

PNQI vs. RSP - Dividend Comparison

PNQI has not paid dividends to shareholders, while RSP's dividend yield for the trailing twelve months is around 1.51%.

PositionTTM20252024202320222021202020192018201720162015
PNQI
Invesco NASDAQ Internet ETF		0.00%0.02%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.00%0.00%
RSP
Invesco S&P 500 Equal Weight ETF		1.51%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

PNQI and RSP have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PNQI has higher volatility (7.49%) compared to RSP (3.60%). In terms of maximum drawdown, PNQI dropped -59.70% vs RSP's -59.92%.

On 10-year performance, RSP leads with 12.68% vs 11.73% for PNQI. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 3.60%. 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 12.68% return vs 11.73%. 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 0.62% for PNQI.

RSP has the higher dividend yield at 1.51%, compared with 0.00% for PNQI.

PNQI is categorized as Large Cap Growth Equities, while RSP is S&P 500. PNQI tracks NASDAQ Internet Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.62% for PNQI and 0.20% for RSP.

RSP currently has the higher Sharpe Ratio (1.74 vs -0.74), 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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