RSP vs. EQL

Last updated Jun 24, 2026

RSP (Invesco S&P 500 Equal Weight ETF) and EQL (ALPS Equal Sector Weight ETF) are both exchange-traded funds - RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while EQL is a Large Cap Blend Equities fund tracking the NYSE Equal Sector Weight Index. Both are passively managed. Over the past 10 years, RSP returned 12.23%/yr vs 12.66%/yr for EQL. Their correlation of 0.94 suggests significant overlap in exposure. RSP charges 0.20%/yr vs 0.27%/yr for EQL.

Performance

RSP vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight ETF (RSP) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSP achieves a 9.94% return, which is significantly higher than EQL's 8.44% return. Both investments have delivered pretty close results over the past 10 years, with RSP having a 12.23% annualized return and EQL not far ahead at 12.66%.

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%

EQL

• 1D: -0.34%
• 1M: -0.97%
• YTD: 8.44%
• 6M: 7.90%
• 1Y: 17.48%
• 3Y*: 15.88%
• 5Y*: 10.58%
• 10Y*: 12.66%

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

RSP vs. EQL - 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%
EQL ALPS Equal Sector Weight ETF	8.44%	13.09%	16.44%	16.87%	-10.72%	29.32%	10.87%	27.87%	-6.12%	18.37%

Correlation

The correlation between RSP and EQL is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 7, 2009	0.94

The correlation between RSP and EQL has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

RSP vs. EQL - Sectors Allocation Comparison

Sectors	RSP	EQL
Technology	20.9%	12.3%
Industrials	14.2%	8.5%
Financial Services	13.9%	8.6%
Healthcare	11.1%	8.7%
Consumer Cyclical	10.0%	10.7%
Consumer Defensive	6.4%	8.6%
Real Estate	6.1%	9.2%
Utilities	5.7%	8.4%
Energy	4.0%	8.0%
Basic Materials	3.9%	8.0%
Communication Services	3.9%	8.8%

Return for Risk

RSP vs. EQL — Risk / Return Rank

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

RSP

RSP Risk / Return Rank: 49
RSP Sharpe Ratio Rank: 48
RSP Sortino Ratio Rank: 49
RSP Omega Ratio Rank: 45
RSP Calmar Ratio Rank: 51
RSP Martin Ratio Rank: 54

EQL

EQL Risk / Return Rank: 58
EQL Sharpe Ratio Rank: 57
EQL Sortino Ratio Rank: 56
EQL Omega Ratio Rank: 54
EQL Calmar Ratio Rank: 60
EQL Martin Ratio Rank: 63

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.

RSP vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight ETF (RSP) and ALPS Equal Sector Weight ETF (EQL). 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	EQL	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.84	-0.22
Sortino ratio: Return per unit of downside risk	2.34	2.57	-0.23
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.43	2.84	-0.41
Martin ratio: Return relative to average drawdown	9.17	10.95	-1.78

RSP vs. EQL - Sharpe Ratio Comparison

The current RSP Sharpe Ratio is 1.62, which is comparable to the EQL Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of RSP and EQL, 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

RSP vs. EQL - Drawdown Comparison

The maximum RSP drawdown since its inception was -59.92%, which is greater than EQL's maximum drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for RSP and EQL.

Drawdown Indicators

	RSP	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-59.92%	-35.65%	-24.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-6.19%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-17.81%	-15.07%	-2.74%
Max Drawdown (5Y) Largest decline over 5 years	-21.38%	-19.24%	-2.14%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-35.65%	-3.39%
Current Drawdown Current decline from peak	-1.49%	-1.76%	+0.27%
Average Drawdown Average peak-to-trough decline	-6.64%	-3.25%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.60%	+0.47%

Volatility

RSP vs. EQL - Volatility Comparison

Invesco S&P 500 Equal Weight ETF (RSP) has a higher volatility of 3.63% compared to ALPS Equal Sector Weight ETF (EQL) at 3.08%. This indicates that RSP's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSP	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	3.08%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	7.20%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	9.59%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	14.56%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	16.54%	+1.79%

RSP vs. EQL - Expense Ratio Comparison

RSP has a 0.20% expense ratio, which is lower than EQL's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

RSP vs. EQL - Dividend Comparison

RSP's dividend yield for the trailing twelve months is around 1.53%, less than EQL's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.63%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
RSP Invesco S&P 500 Equal Weight ETF	1.53%	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 RSP and EQL in my portfolio?

With a correlation of 0.93, RSP and EQL 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.

Which is riskier, RSP or EQL?

RSP has higher volatility (3.63%) compared to EQL (3.08%). In terms of maximum drawdown, RSP dropped -59.92% vs EQL's -35.65%.

Which ETF is better, RSP or EQL?

On 10-year performance, EQL leads with 12.66% vs 12.23% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, EQL has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSP or EQL?

Over the 10-year period, EQL has performed better with a 12.66% return vs 12.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSP or EQL?

RSP is cheaper with a 0.20% expense ratio, compared with 0.27% for EQL.

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

EQL has the higher dividend yield at 1.63%, compared with 1.53% for RSP.

What is the main difference between RSP and EQL?

RSP is categorized as S&P 500, while EQL is Large Cap Blend Equities. RSP tracks S&P 500 Equal Weight Index, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: Invesco and SS&C. Their fees differ too: 0.20% for RSP and 0.27% for EQL.

Which has better risk-adjusted returns?

EQL currently has the higher Sharpe Ratio (1.84 vs 1.62), 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.