RPG vs. SPGP

Last updated Aug 2, 2026

RPG (Invesco S&P 500 Pure Growth ETF) and SPGP (Invesco S&P 500 GARP ETF) are both exchange-traded funds - RPG is a Large Cap Growth Equities fund tracking the S&P 500 Pure Growth Index, while SPGP is a Multi-factor fund tracking the S&P 500 GARP Index. Both are passively managed. Over the past 10 years, RPG returned 13.40%/yr vs 15.12%/yr for SPGP. Their correlation of 0.81 means they have usually moved in the same direction. RPG charges 0.35%/yr vs 0.36%/yr for SPGP.

Performance

RPG vs. SPGP - Performance Comparison

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

Returns By Period

In the year-to-date period, RPG achieves a 19.96% return, which is significantly higher than SPGP's 10.71% return. Over the past 10 years, RPG has underperformed SPGP with an annualized return of 13.40%, while SPGP has yielded a comparatively higher 15.12% annualized return.

RPG

• 1D: 0.13%
• 1M: -6.42%
• 6M: 14.71%
• YTD: 19.96%
• 1Y: 21.88%
• 3Y*: 21.36%
• 5Y*: 8.26%
• 10Y*: 13.40%
• ALL TIME*: 11.54%

SPGP

• 1D: 0.01%
• 1M: 0.78%
• 6M: 9.37%
• YTD: 10.71%
• 1Y: 17.66%
• 3Y*: 10.71%
• 5Y*: 8.08%
• 10Y*: 15.12%
• ALL TIME*: 14.46%

*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)
RPG Invesco S&P 500 Pure Growth ETF	$39.18M	$42.11M	$41.32M
SPGP Invesco S&P 500 GARP ETF	$11.85M	$11.53M	$9.19M

RPG vs. SPGP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPG Invesco S&P 500 Pure Growth ETF	19.96%	13.41%	28.23%	8.04%	-27.55%	29.40%	29.34%	28.34%	-4.53%	26.20%
SPGP Invesco S&P 500 GARP ETF	10.71%	9.80%	8.48%	20.29%	-13.83%	35.72%	15.92%	39.16%	1.68%	36.24%

Correlation

The correlation between RPG and SPGP is 0.64, 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.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jun 16, 2011	0.81

The correlation between RPG and SPGP shifts across timeframes, from 0.64 (1 year) to 0.84 (10 years), reflecting how their relationship changes across market environments.

RPG vs. SPGP - Sectors Allocation Comparison

Sectors	RPG	SPGP
Technology	47.7%	22.6%
Industrials	15.7%	10.0%
Consumer Cyclical	14.4%	12.8%
Communication Services	7.0%	6.7%
Healthcare	6.2%	9.8%
Financial Services	5.0%	30.5%
Energy	1.5%	1.2%
Consumer Defensive	1.1%	1.0%
Basic Materials	1.1%	1.6%
Real Estate	1.0%	2.9%
Utilities	1.0%	2.7%

Return for Risk

RPG vs. SPGP — Risk / Return Rank

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

RPG

RPG Risk / Return Rank: 35
RPG Sharpe Ratio Rank: 32
RPG Sortino Ratio Rank: 32
RPG Omega Ratio Rank: 32
RPG Calmar Ratio Rank: 34
RPG Martin Ratio Rank: 43

SPGP

SPGP Risk / Return Rank: 42
SPGP Sharpe Ratio Rank: 41
SPGP Sortino Ratio Rank: 42
SPGP Omega Ratio Rank: 39
SPGP Calmar Ratio Rank: 41
SPGP Martin Ratio Rank: 48

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.

RPG vs. SPGP - Risk-Adjusted Trends Comparison

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

	RPG	SPGP	Difference
Sharpe ratio: Return per unit of total volatility	0.79	1.02	-0.23
Sortino ratio: Return per unit of downside risk	1.22	1.55	-0.33
Omega ratio: Gain probability vs. loss probability	1.15	1.19	-0.03
Calmar ratio: Return relative to maximum drawdown	1.16	1.45	-0.29
Martin ratio: Return relative to average drawdown	4.81	5.55	-0.73

RPG vs. SPGP - Sharpe Ratio Comparison

The current RPG Sharpe Ratio is 0.79, which is comparable to the SPGP Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of RPG and SPGP, 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

RPG vs. SPGP - Drawdown Comparison

The maximum RPG drawdown since its inception was -53.27%, which is greater than SPGP's maximum drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for RPG and SPGP.

Drawdown Indicators

	RPG	SPGP	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-42.08%	-11.19%
Max Drawdown (1Y) Largest decline over 1 year	-16.84%	-11.15%	-5.69%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-22.87%	-1.88%
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	-22.87%	-12.72%
Max Drawdown (10Y) Largest decline over 10 years	-36.58%	-42.08%	+5.50%
Current Drawdown Current decline from peak	-12.37%	-0.44%	-11.93%
Average Drawdown Average peak-to-trough decline	-8.82%	-4.32%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	2.91%	+1.16%

Volatility

RPG vs. SPGP - Volatility Comparison

Invesco S&P 500 Pure Growth ETF (RPG) has a higher volatility of 10.64% compared to Invesco S&P 500 GARP ETF (SPGP) at 3.74%. This indicates that RPG's price experiences larger fluctuations and is considered to be riskier than SPGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPG	SPGP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.64%	3.74%	+6.90%
Volatility (6M) Calculated over the trailing 6-month period	22.14%	12.26%	+9.88%
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	15.82%	+9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.40%	18.64%	+5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.17%	21.21%	+1.96%

RPG vs. SPGP - Expense Ratio Comparison

RPG has a 0.35% expense ratio, which is lower than SPGP's 0.36% expense ratio.

Dividends

RPG vs. SPGP - Dividend Comparison

RPG's dividend yield for the trailing twelve months is around 0.17%, less than SPGP's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPGP Invesco S&P 500 GARP ETF	0.80%	1.04%	1.38%	1.24%	1.22%	0.69%	1.10%	0.86%	0.95%	0.68%	0.89%	1.12%

Frequently Asked Questions

Can I hold both RPG and SPGP in my portfolio?

RPG and SPGP have a correlation of 0.64, 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 SPGP?

RPG has higher volatility (10.64%) compared to SPGP (3.74%). In terms of maximum drawdown, RPG dropped -53.27% vs SPGP's -42.08%.

Which ETF is better, RPG or SPGP?

On 10-year performance, SPGP leads with 15.12% vs 13.40% for RPG. On fees, RPG is cheaper at 0.35% per year. On volatility, SPGP has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RPG or SPGP?

Over the 10-year period, SPGP has performed better with a 15.12% return vs 13.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RPG or SPGP?

RPG is cheaper with a 0.35% expense ratio, compared with 0.36% for SPGP.

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

SPGP has the higher dividend yield at 0.80%, compared with 0.17% for RPG.

What is the main difference between RPG and SPGP?

RPG is categorized as Large Cap Growth Equities, while SPGP is Multi-factor. RPG tracks S&P 500 Pure Growth Index, while SPGP tracks S&P 500 GARP Index. Their fees differ too: 0.35% for RPG and 0.36% for SPGP.

Which has better risk-adjusted returns?

SPGP currently has the higher Sharpe Ratio (1.02 vs 0.79), 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.