RDIV vs. SPY

Last updated Aug 2, 2026

RDIV (Invesco S&P Ultra Dividend Revenue ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - RDIV is a Mid Cap Value Equities fund tracking the S&P 900 Dividend Revenue-Weighted Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, RDIV returned 11.30%/yr vs 15.07%/yr for SPY. Their 0.64 correlation means they have sometimes moved together and sometimes differently. RDIV charges 0.39%/yr vs 0.09%/yr for SPY.

Performance

RDIV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Ultra Dividend Revenue ETF (RDIV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDIV achieves a 22.74% return, which is significantly higher than SPY's 10.13% return. Over the past 10 years, RDIV has underperformed SPY with an annualized return of 11.30%, while SPY has yielded a comparatively higher 15.07% annualized return.

RDIV

• 1D: -0.32%
• 1M: 6.60%
• 6M: 17.44%
• YTD: 22.74%
• 1Y: 36.48%
• 3Y*: 19.58%
• 5Y*: 13.86%
• 10Y*: 11.30%
• ALL TIME*: 11.74%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

*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)
RDIV Invesco S&P Ultra Dividend Revenue ETF	$3.34M	$2.84M	$4.35M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

RDIV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RDIV Invesco S&P Ultra Dividend Revenue ETF	22.74%	12.36%	15.17%	4.66%	7.16%	29.12%	-9.31%	22.62%	-4.78%	11.63%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between RDIV and SPY is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.48
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Oct 1, 2013	0.64

Over the past year, the correlation between RDIV and SPY has dropped to 0.23 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

RDIV vs. SPY - Sectors Allocation Comparison

Sectors	RDIV	SPY
Financial Services	19.2%	12.5%
Energy	17.0%	3.4%
Consumer Defensive	15.4%	4.8%
Consumer Cyclical	14.5%	8.9%
Communication Services	8.0%	9.7%
Real Estate	7.6%	2.0%
Healthcare	6.8%	9.4%
Utilities	6.4%	2.6%
Technology	5.1%	36.9%
Basic Materials	0.5%	1.9%
Industrials	-	7.6%

Return for Risk

RDIV vs. SPY — Risk / Return Rank

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

RDIV

RDIV Risk / Return Rank: 95
RDIV Sharpe Ratio Rank: 94
RDIV Sortino Ratio Rank: 94
RDIV Omega Ratio Rank: 92
RDIV Calmar Ratio Rank: 97
RDIV Martin Ratio Rank: 96

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

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.

RDIV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Ultra Dividend Revenue ETF (RDIV) and State Street SPDR S&P 500 ETF (SPY). 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.

	RDIV	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.52	+1.09
Sortino ratio: Return per unit of downside risk	3.77	2.11	+1.66
Omega ratio: Gain probability vs. loss probability	1.45	1.27	+0.18
Calmar ratio: Return relative to maximum drawdown	7.24	2.20	+5.04
Martin ratio: Return relative to average drawdown	22.00	9.40	+12.60

RDIV vs. SPY - Sharpe Ratio Comparison

The current RDIV Sharpe Ratio is 2.61, which is higher than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of RDIV and SPY, 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

RDIV vs. SPY - Drawdown Comparison

The maximum RDIV drawdown since its inception was -49.97%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RDIV and SPY.

Drawdown Indicators

	RDIV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-55.19%	+5.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-8.88%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.91%	-18.76%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-24.89%	-24.50%	-0.39%
Max Drawdown (10Y) Largest decline over 10 years	-49.97%	-33.72%	-16.25%
Current Drawdown Current decline from peak	-1.46%	-1.40%	-0.06%
Average Drawdown Average peak-to-trough decline	-5.80%	-9.01%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	2.08%	-0.49%

Volatility

RDIV vs. SPY - Volatility Comparison

Invesco S&P Ultra Dividend Revenue ETF (RDIV) has a higher volatility of 4.00% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that RDIV's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDIV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.58%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	10.14%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	12.89%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	17.18%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	17.95%	+3.90%

RDIV vs. SPY - Expense Ratio Comparison

RDIV has a 0.39% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

RDIV vs. SPY - Dividend Comparison

RDIV's dividend yield for the trailing twelve months is around 3.45%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RDIV Invesco S&P Ultra Dividend Revenue ETF	3.45%	3.94%	4.08%	3.93%	3.44%	3.31%	4.93%	3.84%	4.32%	4.26%	2.20%	4.49%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both RDIV and SPY in my portfolio?

RDIV and SPY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDIV or SPY?

RDIV has higher volatility (4.00%) compared to SPY (3.58%). In terms of maximum drawdown, RDIV dropped -49.97% vs SPY's -55.19%.

Which ETF is better, RDIV or SPY?

On 10-year performance, SPY leads with 15.07% vs 11.30% for RDIV. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDIV or SPY?

Over the 10-year period, SPY has performed better with a 15.07% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDIV or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.39% for RDIV.

Which ETF pays a higher dividend yield, RDIV or SPY?

RDIV has the higher dividend yield at 3.45%, compared with 1.01% for SPY.

What is the main difference between RDIV and SPY?

RDIV is categorized as Mid Cap Value Equities, while SPY is S&P 500. RDIV tracks S&P 900 Dividend Revenue-Weighted Index, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.39% for RDIV and 0.09% for SPY.

Which has better risk-adjusted returns?

RDIV currently has the higher Sharpe Ratio (2.61 vs 1.52), 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.