RPG vs. ILCG

Last updated Jun 4, 2026

RPG (Invesco S&P 500 Pure Growth ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds - RPG tracks the S&P 500/Citigroup Pure Growth Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 10 years, RPG returned 14.81%/yr vs 18.15%/yr for ILCG. Their correlation of 0.89 suggests significant overlap in exposure. RPG charges 0.35%/yr vs 0.04%/yr for ILCG.

Performance

RPG vs. ILCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Pure Growth ETF (RPG) and iShares Morningstar Growth ETF (ILCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPG achieves a 31.51% return, which is significantly higher than ILCG's 14.48% return. Over the past 10 years, RPG has underperformed ILCG with an annualized return of 14.81%, while ILCG has yielded a comparatively higher 18.15% annualized return.

RPG

• 1D: 0.16%
• 1M: 11.54%
• YTD: 31.51%
• 6M: 32.14%
• 1Y: 41.04%
• 3Y*: 28.39%
• 5Y*: 13.02%
• 10Y*: 14.81%

ILCG

• 1D: -1.02%
• 1M: 7.68%
• YTD: 14.48%
• 6M: 14.61%
• 1Y: 29.51%
• 3Y*: 26.55%
• 5Y*: 14.95%
• 10Y*: 18.15%

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

RPG vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPG Invesco S&P 500 Pure Growth ETF	31.51%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%
ILCG iShares Morningstar Growth ETF	14.48%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between RPG and ILCG is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 8, 2006	0.89

The correlation between RPG and ILCG has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

RPG vs. ILCG - Sectors Allocation Comparison

Sectors	RPG	ILCG
Technology	39.6%	49.8%
Industrials	17.6%	8.3%
Consumer Cyclical	17.1%	10.6%
Communication Services	8.8%	14.5%
Healthcare	7.0%	5.3%
Financial Services	5.2%	6.0%
Basic Materials	1.5%	1.1%
Energy	1.4%	0.5%
Utilities	1.1%	0.8%
Real Estate	1.1%	1.4%
Consumer Defensive	1.1%	1.6%

Return for Risk

RPG vs. ILCG — Risk / Return Rank

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

RPG

RPG Risk / Return Rank: 65
RPG Sharpe Ratio Rank: 61
RPG Sortino Ratio Rank: 59
RPG Omega Ratio Rank: 58
RPG Calmar Ratio Rank: 74
RPG Martin Ratio Rank: 76

ILCG

ILCG Risk / Return Rank: 46
ILCG Sharpe Ratio Rank: 52
ILCG Sortino Ratio Rank: 49
ILCG Omega Ratio Rank: 50
ILCG Calmar Ratio Rank: 38
ILCG Martin Ratio Rank: 41

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.

RPG vs. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Pure Growth ETF (RPG) and iShares Morningstar Growth ETF (ILCG). 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.

	RPG	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.82	+0.27
Sortino ratio: Return per unit of downside risk	2.82	2.45	+0.37
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	3.72	1.89	+1.83
Martin ratio: Return relative to average drawdown	14.56	6.68	+7.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPG vs. ILCG - Sharpe Ratio Comparison

The current RPG Sharpe Ratio is 2.09, which is comparable to the ILCG Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of RPG and ILCG, 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

	RPG	ILCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.82	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.68	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.85	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.59	-0.05

Drawdowns

RPG vs. ILCG - Drawdown Comparison

The maximum RPG drawdown since its inception was -53.27%, roughly equal to the maximum ILCG drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for RPG and ILCG.

Drawdown Indicators

	RPG	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-52.98%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.08%	-15.65%	+4.57%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-23.10%	-1.65%
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	-35.38%	-0.21%
Max Drawdown (10Y) Largest decline over 10 years	-36.58%	-35.38%	-1.20%
Current Drawdown Current decline from peak	0.00%	-1.02%	+1.02%
Average Drawdown Average peak-to-trough decline	-8.84%	-8.22%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	4.43%	-1.60%

Volatility

RPG vs. ILCG - Volatility Comparison

Invesco S&P 500 Pure Growth ETF (RPG) has a higher volatility of 6.43% compared to iShares Morningstar Growth ETF (ILCG) at 4.40%. This indicates that RPG's price experiences larger fluctuations and is considered to be riskier than ILCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPG	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	4.40%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	12.81%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.73%	16.31%	+3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.44%	22.00%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	21.53%	+1.17%

RPG vs. ILCG - Expense Ratio Comparison

RPG has a 0.35% expense ratio, which is higher than ILCG's 0.04% expense ratio.

Dividends

RPG vs. ILCG - Dividend Comparison

RPG's dividend yield for the trailing twelve months is around 0.17%, less than ILCG's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCG iShares Morningstar Growth ETF	0.40%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%
RPG Invesco S&P 500 Pure Growth ETF	0.17%	0.24%	0.25%	1.44%	0.74%	0.00%	0.46%	0.83%	0.47%	0.56%	0.43%	0.73%

Frequently Asked Questions

Can I hold both RPG and ILCG in my portfolio?

RPG and ILCG have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPG or ILCG?

RPG has higher volatility (6.43%) compared to ILCG (4.40%). In terms of maximum drawdown, RPG dropped -53.27% vs ILCG's -52.98%.

Which ETF is better, RPG or ILCG?

On 10-year performance, ILCG leads with 18.15% vs 14.81% for RPG. On fees, ILCG is cheaper at 0.04% per year. On volatility, ILCG has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RPG or ILCG?

Over the 10-year period, ILCG has performed better with a 18.15% return vs 14.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RPG or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.35% for RPG.

Which ETF pays a higher dividend yield, RPG or ILCG?

ILCG has the higher dividend yield at 0.40%, compared with 0.17% for RPG.

What is the main difference between RPG and ILCG?

RPG tracks S&P 500/Citigroup Pure Growth Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for RPG and 0.04% for ILCG.

Which has better risk-adjusted returns?

RPG currently has the higher Sharpe Ratio (2.09 vs 1.82), 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.