RSPC vs. OND

Last updated Aug 2, 2026

RSPC (Invesco S&P 500 Equal Weight Communication Services ETF) and OND (ProShares On-Demand ETF) are both Communications Equities funds - RSPC tracks the S&P 500 Equal Weight Communication Services Plus Index while OND tracks the FactSet On-Demand Index. Both are passively managed. Over the past 3 years, RSPC returned 8.82%/yr vs 11.90%/yr for OND. Their 0.67 correlation means they have sometimes moved together and sometimes differently. RSPC charges 0.40%/yr vs 0.58%/yr for OND.

Performance

RSPC vs. OND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) and ProShares On-Demand ETF (OND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPC achieves a -10.27% return, which is significantly higher than OND's -15.89% return.

RSPC

• 1D: 0.12%
• 1M: -1.81%
• 6M: -8.40%
• YTD: -10.27%
• 1Y: -2.47%
• 3Y*: 8.82%
• 5Y*: -0.41%
• 10Y*: —
• ALL TIME*: 6.11%

OND

• 1D: -1.16%
• 1M: -1.00%
• 6M: -11.55%
• YTD: -15.89%
• 1Y: -17.52%
• 3Y*: 11.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OND ProShares On-Demand ETF	$3.36K	$4.57K	$11.88K
RSPC Invesco S&P 500 Equal Weight Communication Services ETF	$480.30K	$640.18K	$573.12K

RSPC vs. OND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RSPC Invesco S&P 500 Equal Weight Communication Services ETF	-10.27%	18.44%	17.98%	17.92%	-29.00%	-6.30%
OND ProShares On-Demand ETF	-15.89%	26.72%	32.00%	27.03%	-41.93%	-15.04%

Correlation

The correlation between RSPC and OND is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.67

The correlation between RSPC and OND shifts across timeframes, from 0.49 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

RSPC vs. OND - Sectors Allocation Comparison

Sectors	RSPC	OND
Communication Services	85.6%	52.9%
Technology	14.3%	28.9%
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	14.6%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	3.6%
Real Estate	-	2.6%
Utilities	-	-

Return for Risk

RSPC vs. OND — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RSPC

RSPC Risk / Return Rank: 8
RSPC Sharpe Ratio Rank: 8
RSPC Sortino Ratio Rank: 7
RSPC Omega Ratio Rank: 7
RSPC Calmar Ratio Rank: 8
RSPC Martin Ratio Rank: 8

OND

OND Risk / Return Rank: 4
OND Sharpe Ratio Rank: 2
OND Sortino Ratio Rank: 3
OND Omega Ratio Rank: 3
OND Calmar Ratio Rank: 5
OND Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RSPC vs. OND - 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 ProShares On-Demand ETF (OND). 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	OND	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	-0.88	+0.65
Sortino ratio: Return per unit of downside risk	-0.22	-1.16	+0.94
Omega ratio: Gain probability vs. loss probability	0.97	0.87	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.22	-0.55	+0.33
Martin ratio: Return relative to average drawdown	-0.47	-0.86	+0.39

RSPC vs. OND - Sharpe Ratio Comparison

The current RSPC Sharpe Ratio is -0.23, which is higher than the OND Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of RSPC and OND, 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

RSPC vs. OND - Drawdown Comparison

The maximum RSPC drawdown since its inception was -38.03%, smaller than the maximum OND drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for RSPC and OND.

Drawdown Indicators

	RSPC	OND	Difference
Max Drawdown Largest peak-to-trough decline	-38.03%	-59.02%	+20.99%
Max Drawdown (1Y) Largest decline over 1 year	-15.61%	-33.80%	+18.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-33.80%	+18.19%
Max Drawdown (5Y) Largest decline over 5 years	-37.73%	—	—
Current Drawdown Current decline from peak	-13.04%	-29.12%	+16.08%
Average Drawdown Average peak-to-trough decline	-12.69%	-30.27%	+17.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.14%	21.38%	-14.24%

Volatility

RSPC vs. OND - Volatility Comparison

Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) and ProShares On-Demand ETF (OND) have volatilities of 5.56% and 5.56%, 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

	RSPC	OND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	5.56%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	11.12%	16.70%	-5.58%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	21.12%	-6.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	26.97%	-8.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	26.97%	-6.26%

RSPC vs. OND - Expense Ratio Comparison

RSPC has a 0.40% expense ratio, which is lower than OND's 0.58% expense ratio.

Dividends

RSPC vs. OND - Dividend Comparison

RSPC's dividend yield for the trailing twelve months is around 1.83%, while OND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
OND ProShares On-Demand ETF	0.00%	0.00%	0.00%	0.78%	0.00%	0.02%	0.00%	0.00%	0.00%
RSPC Invesco S&P 500 Equal Weight Communication Services ETF	1.83%	1.66%	1.03%	0.98%	1.45%	1.10%	1.05%	0.90%	0.24%

Frequently Asked Questions

Can I hold both RSPC and OND in my portfolio?

RSPC and OND have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPC or OND?

OND has higher volatility (5.56%) compared to RSPC (5.56%). In terms of maximum drawdown, RSPC dropped -38.03% vs OND's -59.02%.

Which ETF is better, RSPC or OND?

On 3-year performance, OND leads with 11.90% vs 8.82% for RSPC. On fees, RSPC is cheaper at 0.40% 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, RSPC or OND?

Over the 3-year period, OND has performed better with a 11.90% return vs 8.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPC or OND?

RSPC is cheaper with a 0.40% expense ratio, compared with 0.58% for OND.

Which ETF pays a higher dividend yield, RSPC or OND?

RSPC has the higher dividend yield at 1.83%, compared with 0.00% for OND.

What is the main difference between RSPC and OND?

RSPC tracks S&P 500 Equal Weight Communication Services Plus Index, while OND tracks FactSet On-Demand Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.40% for RSPC and 0.58% for OND.

Which has better risk-adjusted returns?

RSPC currently has the higher Sharpe Ratio (-0.23 vs -0.88), 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.