RSPF vs. SPHD

Last updated Jun 4, 2026

RSPF (Invesco S&P 500 Equal Weight Financials ETF) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - RSPF is a Financials Equities fund tracking the S&P 500 Equal Weighted / Financials -SEC, while SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, RSPF returned 11.37%/yr vs 7.08%/yr for SPHD. A 0.72 correlation means they provide meaningful diversification when combined. RSPF charges 0.40%/yr vs 0.30%/yr for SPHD.

Performance

RSPF vs. SPHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Financials ETF (RSPF) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPF achieves a -5.25% return, which is significantly lower than SPHD's 4.38% return. Over the past 10 years, RSPF has outperformed SPHD with an annualized return of 11.37%, while SPHD has yielded a comparatively lower 7.08% annualized return.

RSPF

• 1D: -1.76%
• 1M: -1.96%
• YTD: -5.25%
• 6M: -2.72%
• 1Y: 2.40%
• 3Y*: 15.99%
• 5Y*: 5.36%
• 10Y*: 11.37%

SPHD

• 1D: -0.89%
• 1M: -0.82%
• YTD: 4.38%
• 6M: 4.63%
• 1Y: 8.12%
• 3Y*: 11.42%
• 5Y*: 5.48%
• 10Y*: 7.08%

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

RSPF vs. SPHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPF Invesco S&P 500 Equal Weight Financials ETF	-5.25%	10.23%	25.75%	6.43%	-10.64%	36.36%	5.49%	31.53%	-15.81%	21.57%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.38%	3.41%	18.08%	1.32%	0.58%	24.98%	-9.98%	20.26%	-6.17%	11.90%

Correlation

The correlation between RSPF and SPHD is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Oct 31, 2012	0.72

Over the past year, the correlation between RSPF and SPHD has dropped to 0.51 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

RSPF vs. SPHD - Sectors Allocation Comparison

Sectors	RSPF	SPHD
Financial Services	92.7%	15.6%
Technology	6.1%	1.5%
Industrials	1.2%	0.0%
Basic Materials	-	-
Communication Services	-	8.6%
Consumer Cyclical	-	3.4%
Consumer Defensive	-	17.8%
Energy	-	14.1%
Healthcare	-	5.1%
Real Estate	-	20.1%
Utilities	-	13.7%

Return for Risk

RSPF vs. SPHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RSPF

RSPF Risk / Return Rank: 10
RSPF Sharpe Ratio Rank: 11
RSPF Sortino Ratio Rank: 10
RSPF Omega Ratio Rank: 10
RSPF Calmar Ratio Rank: 10
RSPF Martin Ratio Rank: 11

SPHD

SPHD Risk / Return Rank: 21
SPHD Sharpe Ratio Rank: 21
SPHD Sortino Ratio Rank: 21
SPHD Omega Ratio Rank: 19
SPHD Calmar Ratio Rank: 23
SPHD Martin Ratio Rank: 22

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.

RSPF vs. SPHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Financials ETF (RSPF) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.

	RSPF	SPHD	Difference
Sharpe ratio: Return per unit of total volatility	0.16	0.74	-0.58
Sortino ratio: Return per unit of downside risk	0.32	1.15	-0.83
Omega ratio: Gain probability vs. loss probability	1.04	1.13	-0.09
Calmar ratio: Return relative to maximum drawdown	0.17	1.11	-0.94
Martin ratio: Return relative to average drawdown	0.48	2.78	-2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSPF vs. SPHD - Sharpe Ratio Comparison

The current RSPF Sharpe Ratio is 0.16, which is lower than the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of RSPF and SPHD, 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

	RSPF	SPHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	0.74	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.39	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.40	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.58	-0.37

Drawdowns

RSPF vs. SPHD - Drawdown Comparison

The maximum RSPF drawdown since its inception was -81.32%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for RSPF and SPHD.

Drawdown Indicators

	RSPF	SPHD	Difference
Max Drawdown Largest peak-to-trough decline	-81.32%	-41.39%	-39.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.13%	-7.33%	-6.80%
Max Drawdown (3Y) Largest decline over 3 years	-18.26%	-13.29%	-4.97%
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	-19.50%	-8.18%
Max Drawdown (10Y) Largest decline over 10 years	-44.80%	-41.39%	-3.41%
Current Drawdown Current decline from peak	-7.99%	-5.37%	-2.62%
Average Drawdown Average peak-to-trough decline	-19.04%	-4.70%	-14.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	2.93%	+2.12%

Volatility

RSPF vs. SPHD - Volatility Comparison

Invesco S&P 500 Equal Weight Financials ETF (RSPF) has a higher volatility of 3.35% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 2.99%. This indicates that RSPF's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPF	SPHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	2.99%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	7.55%	+3.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	11.04%	+4.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.85%	14.16%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.91%	17.64%	+5.27%

RSPF vs. SPHD - Expense Ratio Comparison

RSPF has a 0.40% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

RSPF vs. SPHD - Dividend Comparison

RSPF's dividend yield for the trailing twelve months is around 1.70%, less than SPHD's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPF Invesco S&P 500 Equal Weight Financials ETF	1.70%	1.55%	1.65%	2.16%	1.95%	1.56%	2.24%	1.85%	2.51%	1.28%	37.55%	2.17%
SPHD Invesco S&P 500® High Dividend Low Volatility ETF	4.62%	4.02%	3.41%	4.48%	3.89%	3.45%	4.89%	4.07%	4.40%	3.14%	3.83%	3.49%

Frequently Asked Questions

Can I hold both RSPF and SPHD in my portfolio?

RSPF and SPHD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPF or SPHD?

RSPF has higher volatility (3.35%) compared to SPHD (2.99%). In terms of maximum drawdown, RSPF dropped -81.32% vs SPHD's -41.39%.

Which ETF is better, RSPF or SPHD?

On 10-year performance, RSPF leads with 11.37% vs 7.08% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPF or SPHD?

Over the 10-year period, RSPF has performed better with a 11.37% return vs 7.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPF or SPHD?

SPHD is cheaper with a 0.30% expense ratio, compared with 0.40% for RSPF.

Which ETF pays a higher dividend yield, RSPF or SPHD?

SPHD has the higher dividend yield at 4.62%, compared with 1.70% for RSPF.

What is the main difference between RSPF and SPHD?

RSPF is categorized as Financials Equities, while SPHD is Dividend. RSPF tracks S&P 500 Equal Weighted / Financials -SEC, while SPHD tracks S&P 500 Low Volatility High Dividend Index. Their fees differ too: 0.40% for RSPF and 0.30% for SPHD.

Which has better risk-adjusted returns?

SPHD currently has the higher Sharpe Ratio (0.74 vs 0.16), 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.