RSPC vs. GBTC
RSPC (Invesco S&P 500 Equal Weight Communication Services ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both exchange-traded funds - RSPC is a Communications Equities fund tracking the S&P 500 Equal Weight Communication Services Plus Index, while GBTC is a Cryptocurrency fund tracking the CoinDesk Bitcoin Benchmark Rate Index. Both are passively managed. Over the past 5 years, RSPC returned -0.13%/yr vs 12.40%/yr for GBTC. At a 0.28 correlation, their price movements are largely independent. RSPC charges 0.40%/yr vs 1.50%/yr for GBTC.
Performance
RSPC vs. GBTC - Performance Comparison
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Returns By Period
In the year-to-date period, RSPC achieves a -8.48% return, which is significantly higher than GBTC's -29.46% return.
RSPC
- 1D
- 0.55%
- 1M
- -1.00%
- 6M
- -8.33%
- YTD
- -8.48%
- 1Y
- -1.59%
- 3Y*
- 9.23%
- 5Y*
- -0.13%
- 10Y*
- —
GBTC
- 1D
- -2.70%
- 1M
- -2.27%
- 6M
- -32.47%
- YTD
- -29.46%
- 1Y
- -48.17%
- 3Y*
- 34.65%
- 5Y*
- 12.40%
- 10Y*
- 45.20%
RSPC vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RSPC Invesco S&P 500 Equal Weight Communication Services ETF | -8.48% | 18.44% | 17.98% | 17.92% | -29.00% | 14.55% | 22.14% | 21.35% | -11.38% |
GBTC Grayscale Bitcoin Trust ETF | -29.46% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -42.29% |
Correlation
The correlation between RSPC and GBTC is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.28 |
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Return for Risk
RSPC vs. GBTC — Risk / Return Rank
RSPC
GBTC
RSPC vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) and Grayscale Bitcoin Trust ETF (GBTC). 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.
| RSPC | GBTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.81 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.90 | +0.79 |
| Martin ratioReturn relative to average drawdown | -0.25 | -1.46 | +1.22 |
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Drawdowns
RSPC vs. GBTC - Drawdown Comparison
The maximum RSPC drawdown since its inception was -38.03%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for RSPC and GBTC.
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Drawdown Indicators
| RSPC | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.03% | -89.91% | +51.88% |
Max Drawdown (1Y)Largest decline over 1 year | -14.71% | -53.75% | +39.04% |
Max Drawdown (3Y)Largest decline over 3 years | -14.71% | -53.75% | +39.04% |
Max Drawdown (5Y)Largest decline over 5 years | -37.73% | -85.42% | +47.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.91% | — |
Current DrawdownCurrent decline from peak | -11.30% | -51.01% | +39.71% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -43.48% | +30.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 32.95% | -26.45% |
Volatility
RSPC vs. GBTC - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is 4.93%, while Grayscale Bitcoin Trust ETF (GBTC) has a volatility of 11.39%. This indicates that RSPC experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RSPC | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 11.39% | -6.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 34.71% | -24.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.00% | 44.29% | -30.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 61.87% | -43.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 81.45% | -60.74% |
RSPC vs. GBTC - Expense Ratio Comparison
RSPC has a 0.40% expense ratio, which is lower than GBTC's 1.50% expense ratio.
Dividends
RSPC vs. GBTC - Dividend Comparison
RSPC's dividend yield for the trailing twelve months is around 1.79%, while GBTC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
RSPC Invesco S&P 500 Equal Weight Communication Services ETF | 1.79% | 1.66% | 1.03% | 0.98% | 1.45% | 1.10% | 1.05% | 0.90% | 0.24% | 0.00% |
Frequently Asked Questions
RSPC and GBTC have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBTC has higher volatility (11.39%) compared to RSPC (4.93%). In terms of maximum drawdown, RSPC dropped -38.03% vs GBTC's -89.91%.
On 5-year performance, GBTC leads with 12.40% vs -0.13% for RSPC. On fees, RSPC is cheaper at 0.40% per year. On volatility, RSPC has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GBTC has performed better with a 12.40% return vs -0.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPC is cheaper with a 0.40% expense ratio, compared with 1.50% for GBTC.
RSPC has the higher dividend yield at 1.79%, compared with 0.00% for GBTC.
RSPC is categorized as Communications Equities, while GBTC is Cryptocurrency. RSPC tracks S&P 500 Equal Weight Communication Services Plus Index, while GBTC tracks CoinDesk Bitcoin Benchmark Rate Index. They also come from different issuers: Invesco and Grayscale. Their fees differ too: 0.40% for RSPC and 1.50% for GBTC.
RSPC currently has the higher Sharpe Ratio (-0.11 vs -1.09), 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.
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