RSP vs. SPY
Compare and contrast key facts about Invesco S&P 500® Equal Weight ETF (RSP) and SPDR S&P 500 ETF (SPY).
RSP and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both RSP and SPY 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 SPY.
Performance
RSP vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, RSP achieves a 16.60% return, which is significantly lower than SPY's 25.41% return. Over the past 10 years, RSP has underperformed SPY with an annualized return of 10.43%, while SPY has yielded a comparatively higher 13.07% annualized return.
RSP
16.60%
0.82%
9.60%
26.69%
12.17%
10.43%
SPY
25.41%
1.18%
12.15%
32.04%
15.51%
13.07%
Key characteristics
| RSP | SPY | |
|---|---|---|
| Sharpe Ratio | 2.32 | 2.62 |
| Sortino Ratio | 3.23 | 3.50 |
| Omega Ratio | 1.41 | 1.49 |
| Calmar Ratio | 3.18 | 3.78 |
| Martin Ratio | 13.28 | 17.00 |
| Ulcer Index | 1.99% | 1.87% |
| Daily Std Dev | 11.42% | 12.14% |
| Max Drawdown | -59.92% | -55.19% |
| Current Drawdown | -1.75% | -1.38% |
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RSP vs. SPY - Expense Ratio Comparison
RSP has a 0.20% expense ratio, which is higher than SPY'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%.
Correlation
The correlation between RSP and SPY is 0.94, 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.
Risk-Adjusted Performance
RSP vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Equal Weight ETF (RSP) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
RSP's dividend yield for the trailing twelve months is around 1.46%, more than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RSP Invesco S&P 500® Equal Weight ETF | 1.46% | 1.63% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% | 1.46% | 1.27% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
RSP vs. SPY - Drawdown Comparison
The maximum RSP drawdown since its inception was -59.92%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RSP and SPY. For additional features, visit the drawdowns tool.
Volatility
RSP vs. SPY - Volatility Comparison
The current volatility for Invesco S&P 500® Equal Weight ETF (RSP) is 3.45%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.09%. This indicates that RSP experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.