RSP vs. IEMG

Last updated Jun 13, 2026

RSP (Invesco S&P 500 Equal Weight ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both exchange-traded funds - RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Both are passively managed. Over the past 10 years, RSP returned 12.15%/yr vs 10.42%/yr for IEMG. A 0.66 correlation means they provide meaningful diversification when combined. RSP charges 0.20%/yr vs 0.09%/yr for IEMG.

Performance

RSP vs. IEMG - Performance Comparison

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

Returns By Period

In the year-to-date period, RSP achieves a 10.96% return, which is significantly lower than IEMG's 22.84% return. Over the past 10 years, RSP has outperformed IEMG with an annualized return of 12.15%, while IEMG has yielded a comparatively lower 10.42% annualized return.

RSP

• 1D: 0.91%
• 1M: 3.92%
• YTD: 10.96%
• 6M: 10.34%
• 1Y: 21.34%
• 3Y*: 14.66%
• 5Y*: 8.59%
• 10Y*: 12.15%

IEMG

• 1D: 0.61%
• 1M: 0.34%
• YTD: 22.84%
• 6M: 25.59%
• 1Y: 44.83%
• 3Y*: 21.33%
• 5Y*: 7.15%
• 10Y*: 10.42%

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

RSP vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSP Invesco S&P 500 Equal Weight ETF	10.96%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%
IEMG iShares Core MSCI Emerging Markets ETF	22.84%	32.56%	6.50%	11.52%	-19.98%	-0.64%	17.87%	17.81%	-14.92%	37.38%

Correlation

The correlation between RSP and IEMG is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012	0.66

The correlation between RSP and IEMG has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

RSP vs. IEMG - Sectors Allocation Comparison

Sectors	RSP	IEMG
Technology	20.4%	35.0%
Financial Services	14.2%	18.4%
Industrials	14.1%	9.0%
Healthcare	10.9%	3.7%
Consumer Cyclical	10.1%	9.5%
Consumer Defensive	6.4%	3.3%
Real Estate	5.9%	1.7%
Utilities	5.9%	2.2%
Energy	4.2%	3.8%
Basic Materials	4.1%	6.9%
Communication Services	3.6%	6.4%

Return for Risk

RSP vs. IEMG — Risk / Return Rank

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

RSP

RSP Risk / Return Rank: 58
RSP Sharpe Ratio Rank: 57
RSP Sortino Ratio Rank: 59
RSP Omega Ratio Rank: 54
RSP Calmar Ratio Rank: 59
RSP Martin Ratio Rank: 62

IEMG

IEMG Risk / Return Rank: 73
IEMG Sharpe Ratio Rank: 73
IEMG Sortino Ratio Rank: 67
IEMG Omega Ratio Rank: 76
IEMG Calmar Ratio Rank: 73
IEMG Martin Ratio Rank: 73

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. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight ETF (RSP) and iShares Core MSCI Emerging Markets ETF (IEMG). 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	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.03	-0.34
Sortino ratio: Return per unit of downside risk	2.44	2.65	-0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	2.54	3.23	-0.69
Martin ratio: Return relative to average drawdown	9.63	11.89	-2.26

RSP vs. IEMG - Sharpe Ratio Comparison

The current RSP Sharpe Ratio is 1.69, which is comparable to the IEMG Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of RSP and IEMG, 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. IEMG - Drawdown Comparison

The maximum RSP drawdown since its inception was -59.92%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for RSP and IEMG.

Drawdown Indicators

	RSP	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-59.92%	-38.71%	-21.21%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-13.21%	+5.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.81%	-17.21%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-21.38%	-35.75%	+14.37%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-38.71%	-0.33%
Current Drawdown Current decline from peak	0.00%	-3.98%	+3.98%
Average Drawdown Average peak-to-trough decline	-6.64%	-12.95%	+6.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	3.59%	-1.52%

Volatility

RSP vs. IEMG - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight ETF (RSP) is 3.57%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.60%. This indicates that RSP experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSP	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	10.60%	-7.03%
Volatility (6M) Calculated over the trailing 6-month period	8.59%	18.89%	-10.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.83%	21.08%	-9.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	18.73%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	20.17%	-1.81%

RSP vs. IEMG - Expense Ratio Comparison

RSP has a 0.20% expense ratio, which is higher than IEMG's 0.09% expense ratio. However, 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. IEMG - Dividend Comparison

RSP's dividend yield for the trailing twelve months is around 1.47%, less than IEMG's 2.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.24%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
RSP Invesco S&P 500 Equal Weight ETF	1.47%	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 IEMG in my portfolio?

RSP and IEMG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSP or IEMG?

IEMG has higher volatility (10.60%) compared to RSP (3.57%). In terms of maximum drawdown, RSP dropped -59.92% vs IEMG's -38.71%.

Which ETF is better, RSP or IEMG?

On 10-year performance, RSP leads with 12.15% vs 10.42% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, RSP has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSP or IEMG?

Over the 10-year period, RSP has performed better with a 12.15% return vs 10.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSP or IEMG?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.20% for RSP.

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

IEMG has the higher dividend yield at 2.24%, compared with 1.47% for RSP.

What is the main difference between RSP and IEMG?

RSP is categorized as S&P 500, while IEMG is Emerging Markets Diversified. RSP tracks S&P 500 Equal Weight Index, while IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for RSP and 0.09% for IEMG.

Which has better risk-adjusted returns?

IEMG currently has the higher Sharpe Ratio (2.03 vs 1.69), 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.