PTH vs. RSP

Last updated Jun 4, 2026

PTH (Invesco DWA Healthcare Momentum ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - PTH is a Momentum fund tracking the Dorsey Wright Healthcare Technical Leaders 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, PTH returned 12.78%/yr vs 11.86%/yr for RSP. A 0.65 correlation means they provide meaningful diversification when combined. PTH charges 0.60%/yr vs 0.20%/yr for RSP.

Performance

PTH vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Healthcare Momentum ETF (PTH) 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, PTH achieves a -1.13% return, which is significantly lower than RSP's 9.70% return. Over the past 10 years, PTH has outperformed RSP with an annualized return of 12.78%, while RSP has yielded a comparatively lower 11.86% annualized return.

PTH

• 1D: 1.64%
• 1M: -4.72%
• YTD: -1.13%
• 6M: -4.72%
• 1Y: 34.27%
• 3Y*: 8.31%
• 5Y*: -0.77%
• 10Y*: 12.78%

RSP

• 1D: -0.38%
• 1M: 3.77%
• YTD: 9.70%
• 6M: 10.18%
• 1Y: 19.50%
• 3Y*: 15.23%
• 5Y*: 8.33%
• 10Y*: 11.86%

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

PTH vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTH Invesco DWA Healthcare Momentum ETF	-1.13%	27.91%	2.36%	-4.54%	-20.61%	-3.20%	67.26%	34.45%	-1.23%	50.15%
RSP Invesco S&P 500 Equal Weight ETF	9.70%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between PTH and RSP is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.65

Over the past year, the correlation between PTH and RSP has dropped to 0.44 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

PTH vs. RSP - Sectors Allocation Comparison

Sectors	PTH	RSP
Healthcare	100.0%	11.0%
Financial Services	0.1%	14.5%
Basic Materials	-	4.1%
Communication Services	-	3.7%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	6.5%
Energy	-	4.5%
Industrials	-	14.1%
Real Estate	-	6.0%
Technology	-	19.6%
Utilities	-	6.1%

Return for Risk

PTH vs. RSP — Risk / Return Rank

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

PTH

PTH Risk / Return Rank: 45
PTH Sharpe Ratio Rank: 42
PTH Sortino Ratio Rank: 43
PTH Omega Ratio Rank: 39
PTH Calmar Ratio Rank: 58
PTH Martin Ratio Rank: 45

RSP

RSP Risk / Return Rank: 49
RSP Sharpe Ratio Rank: 48
RSP Sortino Ratio Rank: 49
RSP Omega Ratio Rank: 46
RSP Calmar Ratio Rank: 50
RSP Martin Ratio Rank: 54

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.

PTH vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Healthcare Momentum ETF (PTH) 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.

	PTH	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.70	-0.22
Sortino ratio: Return per unit of downside risk	2.17	2.47	-0.29
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	2.87	2.49	+0.38
Martin ratio: Return relative to average drawdown	7.37	9.48	-2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTH vs. RSP - Sharpe Ratio Comparison

The current PTH Sharpe Ratio is 1.48, which is comparable to the RSP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of PTH 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.

Sharpe Ratios by Period

	PTH	RSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	1.70	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.52	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.65	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.57	-0.17

Drawdowns

PTH vs. RSP - Drawdown Comparison

The maximum PTH drawdown since its inception was -53.52%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PTH and RSP.

Drawdown Indicators

	PTH	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-53.52%	-59.92%	+6.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.98%	-7.85%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-28.70%	-17.81%	-10.89%
Max Drawdown (5Y) Largest decline over 5 years	-50.07%	-21.38%	-28.69%
Max Drawdown (10Y) Largest decline over 10 years	-53.52%	-39.04%	-14.48%
Current Drawdown Current decline from peak	-19.32%	-0.38%	-18.94%
Average Drawdown Average peak-to-trough decline	-17.00%	-6.65%	-10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	2.06%	+2.60%

Volatility

PTH vs. RSP - Volatility Comparison

Invesco DWA Healthcare Momentum ETF (PTH) has a higher volatility of 8.84% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.56%. This indicates that PTH'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.

Volatility by Period

	PTH	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	2.56%	+6.28%
Volatility (6M) Calculated over the trailing 6-month period	17.83%	8.29%	+9.54%
Volatility (1Y) Calculated over the trailing 1-year period	23.31%	11.56%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.49%	16.18%	+9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.24%	18.35%	+8.89%

PTH vs. RSP - Expense Ratio Comparison

PTH has a 0.60% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

PTH vs. RSP - Dividend Comparison

PTH's dividend yield for the trailing twelve months is around 3.11%, more than RSP's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTH Invesco DWA Healthcare Momentum ETF	3.11%	3.07%	0.06%	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 PTH and RSP in my portfolio?

PTH and RSP have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTH or RSP?

PTH has higher volatility (8.84%) compared to RSP (2.56%). In terms of maximum drawdown, PTH dropped -53.52% vs RSP's -59.92%.

Which ETF is better, PTH or RSP?

On 10-year performance, PTH leads with 12.78% vs 11.86% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTH or RSP?

Over the 10-year period, PTH has performed better with a 12.78% return vs 11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTH or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.60% for PTH.

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

PTH has the higher dividend yield at 3.11%, compared with 1.49% for RSP.

What is the main difference between PTH and RSP?

PTH is categorized as Momentum, while RSP is S&P 500. PTH tracks Dorsey Wright Healthcare Technical Leaders Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.60% for PTH and 0.20% for RSP.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.70 vs 1.48), 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.