RSP vs. SCHD

Last updated Jun 24, 2026

RSP (Invesco S&P 500 Equal Weight ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, RSP returned 12.23%/yr vs 12.72%/yr for SCHD. Their correlation of 0.90 suggests significant overlap in exposure. RSP charges 0.20%/yr vs 0.06%/yr for SCHD.

Performance

RSP vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight ETF (RSP) and Schwab U.S. Dividend Equity ETF (SCHD). 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 lower than SCHD's 17.72% return. Both investments have delivered pretty close results over the past 10 years, with RSP having a 12.23% annualized return and SCHD not far ahead at 12.72%.

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%

SCHD

• 1D: 0.41%
• 1M: -2.47%
• YTD: 17.72%
• 6M: 17.25%
• 1Y: 24.56%
• 3Y*: 14.60%
• 5Y*: 8.71%
• 10Y*: 12.72%

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

RSP vs. SCHD - 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%
SCHD Schwab U.S. Dividend Equity ETF	17.72%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between RSP and SCHD is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.90

The correlation between RSP and SCHD shifts across timeframes, from 0.72 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

RSP vs. SCHD - Sectors Allocation Comparison

Sectors	RSP	SCHD
Technology	20.9%	19.4%
Industrials	14.2%	7.4%
Financial Services	13.9%	9.1%
Healthcare	11.1%	18.4%
Consumer Cyclical	10.0%	6.7%
Consumer Defensive	6.4%	18.5%
Real Estate	6.1%	-
Utilities	5.7%	0.0%
Energy	4.0%	14.6%
Basic Materials	3.9%	1.2%
Communication Services	3.9%	6.0%

Return for Risk

RSP vs. SCHD — 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

SCHD

SCHD Risk / Return Rank: 77
SCHD Sharpe Ratio Rank: 72
SCHD Sortino Ratio Rank: 80
SCHD Omega Ratio Rank: 70
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

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. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight ETF (RSP) and Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.23	-0.61
Sortino ratio: Return per unit of downside risk	2.34	3.40	-1.06
Omega ratio: Gain probability vs. loss probability	1.28	1.40	-0.12
Calmar ratio: Return relative to maximum drawdown	2.43	5.35	-2.92
Martin ratio: Return relative to average drawdown	9.17	12.94	-3.77

RSP vs. SCHD - Sharpe Ratio Comparison

The current RSP Sharpe Ratio is 1.62, which is comparable to the SCHD Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of RSP and SCHD, 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. SCHD - Drawdown Comparison

The maximum RSP drawdown since its inception was -59.92%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for RSP and SCHD.

Drawdown Indicators

	RSP	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-59.92%	-33.37%	-26.55%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-4.61%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.81%	-16.13%	-1.68%
Max Drawdown (5Y) Largest decline over 5 years	-21.38%	-16.85%	-4.53%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-33.37%	-5.67%
Current Drawdown Current decline from peak	-1.49%	-2.47%	+0.98%
Average Drawdown Average peak-to-trough decline	-6.64%	-3.31%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	1.90%	+0.17%

Volatility

RSP vs. SCHD - Volatility Comparison

Invesco S&P 500 Equal Weight ETF (RSP) and Schwab U.S. Dividend Equity ETF (SCHD) have volatilities of 3.63% and 3.58%, 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.

Volatility by Period

	RSP	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	3.58%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	7.73%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	11.07%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	14.36%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	16.71%	+1.62%

RSP vs. SCHD - Expense Ratio Comparison

RSP has a 0.20% expense ratio, which is higher than SCHD's 0.06% 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. SCHD - Dividend Comparison

RSP's dividend yield for the trailing twelve months is around 1.53%, less than SCHD's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SCHD Schwab U.S. Dividend Equity ETF	3.30%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both RSP and SCHD in my portfolio?

RSP and SCHD have a correlation of 0.72, 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 SCHD?

RSP has higher volatility (3.63%) compared to SCHD (3.58%). In terms of maximum drawdown, RSP dropped -59.92% vs SCHD's -33.37%.

Which ETF is better, RSP or SCHD?

On 10-year performance, SCHD leads with 12.72% vs 12.23% for RSP. On fees, SCHD is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSP or SCHD?

Over the 10-year period, SCHD has performed better with a 12.72% 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 SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.20% for RSP.

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

SCHD has the higher dividend yield at 3.30%, compared with 1.53% for RSP.

What is the main difference between RSP and SCHD?

RSP is categorized as S&P 500, while SCHD is Dividend. RSP tracks S&P 500 Equal Weight Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.20% for RSP and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.23 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.