RSP vs. ^SPXEW
RSP (Invesco S&P 500 Equal Weight ETF) is S&P 500 fund tracking the S&P 500 Equal Weight Index, while ^SPXEW (S&P 500 Equal Weighted Index) is an index. Over the past 10 years, RSP returned 12.23%/yr vs 10.30%/yr for ^SPXEW. With a 0.99 correlation, they move nearly in lockstep.
Performance
RSP vs. ^SPXEW - Performance Comparison
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Returns By Period
In the year-to-date period, RSP achieves a 9.94% return, which is significantly higher than ^SPXEW's 9.06% return. Over the past 10 years, RSP has outperformed ^SPXEW with an annualized return of 12.23%, while ^SPXEW has yielded a comparatively lower 10.30% annualized return.
RSP
- 1D
- -0.34%
- 1M
- 1.51%
- YTD
- 9.94%
- 6M
- 9.07%
- 1Y
- 18.97%
- 3Y*
- 14.87%
- 5Y*
- 8.63%
- 10Y*
- 12.23%
^SPXEW
- 1D
- -0.37%
- 1M
- 1.32%
- YTD
- 9.06%
- 6M
- 8.13%
- 1Y
- 16.95%
- 3Y*
- 12.90%
- 5Y*
- 6.79%
- 10Y*
- 10.30%
RSP vs. ^SPXEW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RSP Invesco S&P 500 Equal Weight ETF | 9.94% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
^SPXEW S&P 500 Equal Weighted Index | 9.06% | 9.34% | 10.90% | 11.56% | -13.11% | 27.48% | 10.47% | 27.57% | -10.14% | 16.68% |
Correlation
The correlation between RSP and ^SPXEW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2006 | 0.99 |
The correlation between RSP and ^SPXEW has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
RSP vs. ^SPXEW — Risk / Return Rank
RSP
^SPXEW
RSP vs. ^SPXEW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight ETF (RSP) and S&P 500 Equal Weighted Index (^SPXEW). 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.
| RSP | ^SPXEW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.12 | +0.31 |
| Martin ratioReturn relative to average drawdown | 9.17 | 7.90 | +1.26 |
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Drawdowns
RSP vs. ^SPXEW - Drawdown Comparison
The maximum RSP drawdown since its inception was -59.92%, roughly equal to the maximum ^SPXEW drawdown of -60.83%. Use the drawdown chart below to compare losses from any high point for RSP and ^SPXEW.
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Drawdown Indicators
| RSP | ^SPXEW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.92% | -60.83% | +0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.85% | -8.03% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.81% | -18.31% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -22.47% | +1.09% |
Max Drawdown (10Y)Largest decline over 10 years | -39.04% | -39.21% | +0.17% |
Current DrawdownCurrent decline from peak | -1.49% | -1.53% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -6.64% | -8.17% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 2.15% | -0.08% |
Volatility
RSP vs. ^SPXEW - Volatility Comparison
Invesco S&P 500 Equal Weight ETF (RSP) and S&P 500 Equal Weighted Index (^SPXEW) have volatilities of 3.63% and 3.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RSP | ^SPXEW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 3.68% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 8.68% | 8.76% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.82% | 11.89% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 16.28% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 18.38% | -0.05% |
Frequently Asked Questions
With a correlation of 1.00, RSP and ^SPXEW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
^SPXEW has higher volatility (3.68%) compared to RSP (3.63%). In terms of maximum drawdown, RSP dropped -59.92% vs ^SPXEW's -60.83%.
RSP currently has the higher Sharpe Ratio (1.62 vs 1.43), 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.
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