RSP vs. EQWL
Compare and contrast key facts about Invesco S&P 500® Equal Weight ETF (RSP) and Invesco S&P 100 Equal Weight ETF (EQWL).
RSP and EQWL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RSP is a passively managed fund by Invesco that tracks the performance of the S&P Equal Weight Index. It was launched on Apr 30, 2003. EQWL is a passively managed fund by Invesco that tracks the performance of the S&P 100 Equal Weighted. It was launched on Dec 1, 2006. Both RSP and EQWL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RSP or EQWL.
Key characteristics
| RSP | EQWL | |
|---|---|---|
| YTD Return | 3.36% | 5.34% |
| 1Y Return | 15.06% | 20.13% |
| 3Y Return (Ann) | 4.78% | 7.81% |
| 5Y Return (Ann) | 10.50% | 12.57% |
| 10Y Return (Ann) | 10.21% | 12.15% |
| Sharpe Ratio | 1.38 | 2.03 |
| Daily Std Dev | 12.32% | 10.87% |
| Max Drawdown | -59.92% | -49.36% |
| Current Drawdown | -4.10% | -3.29% |
Correlation
The correlation between RSP and EQWL is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
RSP vs. EQWL - Performance Comparison
In the year-to-date period, RSP achieves a 3.36% return, which is significantly lower than EQWL's 5.34% return. Over the past 10 years, RSP has underperformed EQWL with an annualized return of 10.21%, while EQWL has yielded a comparatively higher 12.15% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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RSP vs. EQWL - Expense Ratio Comparison
RSP has a 0.20% expense ratio, which is lower than EQWL's 0.25% 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%.
Risk-Adjusted Performance
RSP vs. EQWL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Equal Weight ETF (RSP) and Invesco S&P 100 Equal Weight ETF (EQWL). 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.
Dividends
RSP vs. EQWL - Dividend Comparison
RSP's dividend yield for the trailing twelve months is around 1.58%, less than EQWL's 1.92% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RSP Invesco S&P 500® Equal Weight ETF | 1.58% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% | 1.45% | 1.27% |
EQWL Invesco S&P 100 Equal Weight ETF | 1.92% | 1.97% | 2.12% | 1.65% | 2.01% | 2.04% | 2.23% | 1.27% | 2.01% | 2.03% | 1.74% | 1.61% |
Drawdowns
RSP vs. EQWL - Drawdown Comparison
The maximum RSP drawdown since its inception was -59.92%, which is greater than EQWL's maximum drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for RSP and EQWL. For additional features, visit the drawdowns tool.
Volatility
RSP vs. EQWL - Volatility Comparison
Invesco S&P 500® Equal Weight ETF (RSP) has a higher volatility of 3.30% compared to Invesco S&P 100 Equal Weight ETF (EQWL) at 2.99%. This indicates that RSP's price experiences larger fluctuations and is considered to be riskier than EQWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.