PWC vs. RSP

Last updated Aug 4, 2026

PWC (Invesco Dynamic Market ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - PWC is a Mid Cap Blend Equities fund tracking the Dynamic Market Intellidex 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, PWC returned 9.55%/yr vs 11.89%/yr for RSP. Their correlation of 0.88 means they have usually moved in the same direction. PWC charges 0.60%/yr vs 0.20%/yr for RSP.

Performance

PWC vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Market ETF (PWC) 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, PWC achieves a 10.69% return, which is significantly lower than RSP's 14.26% return. Over the past 10 years, PWC has underperformed RSP with an annualized return of 9.55%, while RSP has yielded a comparatively higher 11.89% annualized return.

PWC

• 1D: 0.27%
• 1M: 3.19%
• 6M: 5.07%
• YTD: 10.69%
• 1Y: 14.63%
• 3Y*: 13.34%
• 5Y*: 7.35%
• 10Y*: 9.55%
• ALL TIME*: 2.96%

RSP

• 1D: 0.98%
• 1M: 1.02%
• 6M: 9.94%
• YTD: 14.26%
• 1Y: 21.56%
• 3Y*: 14.65%
• 5Y*: 9.15%
• 10Y*: 11.89%
• ALL TIME*: 11.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PWC Invesco Dynamic Market ETF	$45.96K	$66.92K	$59.96K
RSP Invesco S&P 500 Equal Weight ETF	$1.90B	$1.83B	$2.07B

PWC vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWC Invesco Dynamic Market ETF	10.69%	6.15%	17.46%	19.03%	-16.01%	19.38%	8.52%	13.47%	-6.40%	20.16%
RSP Invesco S&P 500 Equal Weight ETF	14.26%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between PWC and RSP is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since May 1, 2003	0.88

The correlation between PWC and RSP shifts across timeframes, from 0.77 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

PWC vs. RSP - Sectors Allocation Comparison

Sectors	PWC	RSP
Financial Services	16.9%	14.8%
Industrials	14.4%	14.6%
Technology	14.2%	16.9%
Healthcare	10.9%	11.8%
Consumer Cyclical	7.4%	9.5%
Communication Services	7.3%	3.3%
Energy	5.8%	4.2%
Basic Materials	5.5%	4.6%
Utilities	5.3%	6.6%
Real Estate	5.3%	6.0%
Consumer Defensive	5.3%	6.2%

Return for Risk

PWC vs. RSP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PWC

PWC Risk / Return Rank: 58
PWC Sharpe Ratio Rank: 58
PWC Sortino Ratio Rank: 62
PWC Omega Ratio Rank: 55
PWC Calmar Ratio Rank: 61
PWC Martin Ratio Rank: 54

RSP

RSP Risk / Return Rank: 79
RSP Sharpe Ratio Rank: 80
RSP Sortino Ratio Rank: 81
RSP Omega Ratio Rank: 77
RSP Calmar Ratio Rank: 77
RSP Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PWC vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Market ETF (PWC) 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.

	PWC	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.85	-0.37
Sortino ratio: Return per unit of downside risk	2.21	2.68	-0.48
Omega ratio: Gain probability vs. loss probability	1.26	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	2.28	2.76	-0.48
Martin ratio: Return relative to average drawdown	6.81	10.69	-3.88

PWC vs. RSP - Sharpe Ratio Comparison

The current PWC Sharpe Ratio is 1.48, which is comparable to the RSP Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of PWC 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

PWC vs. RSP - Drawdown Comparison

The maximum PWC drawdown since its inception was -78.13%, which is greater than RSP's maximum drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PWC and RSP.

Drawdown Indicators

	PWC	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-78.13%	-59.92%	-18.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-7.85%	+1.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-17.81%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-21.38%	-5.20%
Max Drawdown (10Y) Largest decline over 10 years	-39.45%	-39.04%	-0.41%
Current Drawdown Current decline from peak	-1.29%	-0.27%	-1.02%
Average Drawdown Average peak-to-trough decline	-35.96%	-6.61%	-29.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.02%	+0.13%

Volatility

PWC vs. RSP - Volatility Comparison

Invesco Dynamic Market ETF (PWC) has a higher volatility of 3.26% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.96%. This indicates that PWC'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

	PWC	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	2.96%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	8.63%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	11.72%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.90%	16.17%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.74%	18.29%	+0.45%

PWC vs. RSP - Expense Ratio Comparison

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

Dividends

PWC vs. RSP - Dividend Comparison

PWC's dividend yield for the trailing twelve months is around 1.71%, more than RSP's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWC Invesco Dynamic Market ETF	1.71%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%
RSP Invesco S&P 500 Equal Weight ETF	1.48%	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 PWC and RSP in my portfolio?

PWC and RSP have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWC or RSP?

PWC has higher volatility (3.26%) compared to RSP (2.96%). In terms of maximum drawdown, PWC dropped -78.13% vs RSP's -59.92%.

Which ETF is better, PWC or RSP?

On 10-year performance, RSP leads with 11.89% vs 9.55% for PWC. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWC or RSP?

Over the 10-year period, RSP has performed better with a 11.89% return vs 9.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWC or RSP?

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

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

PWC has the higher dividend yield at 1.71%, compared with 1.48% for RSP.

What is the main difference between PWC and RSP?

PWC is categorized as Mid Cap Blend Equities, while RSP is S&P 500. PWC tracks Dynamic Market Intellidex Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.60% for PWC and 0.20% for RSP.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.85 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.