RSP vs. SPYM

Last updated Jun 4, 2026

RSP (Invesco S&P 500 Equal Weight ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both S&P 500 funds - RSP tracks the S&P 500 Equal Weight Index while SPYM tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, RSP returned 11.86%/yr vs 15.62%/yr for SPYM. Their correlation of 0.81 suggests significant overlap in exposure. RSP charges 0.20%/yr vs 0.02%/yr for SPYM.

Performance

RSP vs. SPYM - Performance Comparison

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

Returns By Period

In the year-to-date period, RSP achieves a 9.70% return, which is significantly lower than SPYM's 10.98% return. Over the past 10 years, RSP has underperformed SPYM with an annualized return of 11.86%, while SPYM has yielded a comparatively higher 15.62% annualized return.

RSP

• 1D: -0.38%
• 1M: 3.77%
• YTD: 9.70%
• 6M: 10.18%
• 1Y: 19.50%
• 3Y*: 15.23%
• 5Y*: 8.33%
• 10Y*: 11.86%

SPYM

• 1D: -0.66%
• 1M: 5.06%
• YTD: 10.98%
• 6M: 10.98%
• 1Y: 28.09%
• 3Y*: 22.46%
• 5Y*: 13.91%
• 10Y*: 15.62%

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

RSP vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSP Invesco S&P 500 Equal Weight ETF	9.70%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%
SPYM State Street SPDR Portfolio S&P 500 ETF	10.98%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between RSP and SPYM is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
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 Nov 16, 2005	0.81

The correlation between RSP and SPYM shifts across timeframes, from 0.74 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

RSP vs. SPYM - Sectors Allocation Comparison

Sectors	RSP	SPYM
Technology	19.6%	38.5%
Financial Services	14.5%	11.1%
Industrials	14.1%	7.6%
Healthcare	11.0%	8.4%
Consumer Cyclical	9.9%	9.9%
Consumer Defensive	6.5%	4.6%
Utilities	6.1%	2.5%
Real Estate	6.0%	1.8%
Energy	4.5%	3.2%
Basic Materials	4.1%	1.7%
Communication Services	3.7%	10.6%

Return for Risk

RSP vs. SPYM — 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: 46
RSP Calmar Ratio Rank: 50
RSP Martin Ratio Rank: 54

SPYM

SPYM Risk / Return Rank: 70
SPYM Sharpe Ratio Rank: 71
SPYM Sortino Ratio Rank: 70
SPYM Omega Ratio Rank: 71
SPYM Calmar Ratio Rank: 62
SPYM Martin Ratio Rank: 76

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. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight ETF (RSP) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

	RSP	SPYM	Difference
Sharpe ratio Return per unit of total volatility	1.70	2.39	-0.70
Sortino ratio Return per unit of downside risk	2.47	3.27	-0.80
Omega ratio Gain probability vs. loss probability	1.30	1.44	-0.14
Calmar ratio Return relative to maximum drawdown	2.49	3.17	-0.68
Martin ratio Return relative to average drawdown	9.48	14.76	-5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSP vs. SPYM - Sharpe Ratio Comparison

The current RSP Sharpe Ratio is 1.70, which is comparable to the SPYM Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of RSP and SPYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RSP	SPYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.39	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.83	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.87	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.62	-0.05

Drawdowns

RSP vs. SPYM - Drawdown Comparison

The maximum RSP drawdown since its inception was -59.92%, which is greater than SPYM's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for RSP and SPYM.

Drawdown Indicators

	RSP	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-59.92%	-54.46%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.85%	-8.90%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.81%	-18.72%	+0.91%
Max Drawdown (5Y) Largest decline over 5 years	-21.38%	-24.48%	+3.10%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-33.87%	-5.17%
Current Drawdown Current decline from peak	-0.38%	-0.66%	+0.28%
Average Drawdown Average peak-to-trough decline	-6.65%	-7.15%	+0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.91%	+0.15%

Volatility

RSP vs. SPYM - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight ETF (RSP) is 2.56%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 2.83%. This indicates that RSP experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSP	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	2.83%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	8.29%	8.90%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.56%	11.80%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	16.80%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.35%	18.00%	+0.35%

RSP vs. SPYM - Expense Ratio Comparison

RSP has a 0.20% expense ratio, which is higher than SPYM's 0.02% 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. SPYM - Dividend Comparison

RSP's dividend yield for the trailing twelve months is around 1.49%, more than SPYM's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSP Invesco S&P 500 Equal Weight ETF	1.49%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.00%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both RSP and SPYM in my portfolio?

RSP and SPYM have a correlation of 0.74, 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 SPYM?

SPYM has higher volatility (2.83%) compared to RSP (2.56%). In terms of maximum drawdown, RSP dropped -59.92% vs SPYM's -54.46%.

Which ETF is better, RSP or SPYM?

On 10-year performance, SPYM leads with 15.62% vs 11.86% for RSP. On fees, SPYM is cheaper at 0.02% per year. On volatility, RSP has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSP or SPYM?

Over the 10-year period, SPYM has performed better with a 15.62% return vs 11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSP or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.20% for RSP.

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

RSP has the higher dividend yield at 1.49%, compared with 1.00% for SPYM.

What is the main difference between RSP and SPYM?

RSP tracks S&P 500 Equal Weight Index, while SPYM tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.20% for RSP and 0.02% for SPYM.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (2.39 vs 1.70), 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.