RSPG vs. ERX

Last updated Aug 2, 2026

RSPG (Invesco S&P 500 Equal Weight Energy ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Energy Equities funds - RSPG tracks the S&P 500 Equal Weight Energy Plus Index while ERX tracks the Energy Select Sector Index (200%). Both are passively managed. Over the past 10 years, RSPG returned 9.99%/yr vs -8.11%/yr for ERX. Their correlation of 0.93 means they have usually moved in the same direction. RSPG charges 0.40%/yr vs 0.91%/yr for ERX.

Performance

RSPG vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Energy ETF (RSPG) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPG achieves a 35.64% return, which is significantly lower than ERX's 71.01% return. Over the past 10 years, RSPG has outperformed ERX with an annualized return of 9.99%, while ERX has yielded a comparatively lower -8.11% annualized return.

RSPG

• 1D: 1.45%
• 1M: 9.65%
• 6M: 20.75%
• YTD: 35.64%
• 1Y: 46.87%
• 3Y*: 15.10%
• 5Y*: 24.85%
• 10Y*: 9.99%
• ALL TIME*: 6.10%

ERX

• 1D: 1.98%
• 1M: 23.93%
• 6M: 32.46%
• YTD: 71.01%
• 1Y: 85.96%
• 3Y*: 17.67%
• 5Y*: 35.70%
• 10Y*: -8.11%
• ALL TIME*: -6.99%

*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)
ERX Direxion Daily Energy Bull 2X Shares	$22.14M	$22.35M	$28.47M
RSPG Invesco S&P 500 Equal Weight Energy ETF	$7.49M	$8.09M	$10.58M

RSPG vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPG Invesco S&P 500 Equal Weight Energy ETF	35.64%	7.01%	6.09%	4.49%	57.97%	57.73%	-32.44%	13.38%	-24.68%	-6.39%
ERX Direxion Daily Energy Bull 2X Shares	71.01%	2.79%	1.09%	-12.26%	130.58%	111.91%	-91.60%	17.13%	-55.94%	-11.60%

Correlation

The correlation between RSPG and ERX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008	0.93

The correlation between RSPG and ERX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

RSPG vs. ERX - Sectors Allocation Comparison

Sectors	RSPG	ERX
Energy	100.0%	100.0%
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

RSPG vs. ERX — Risk / Return Rank

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

RSPG

RSPG Risk / Return Rank: 78
RSPG Sharpe Ratio Rank: 85
RSPG Sortino Ratio Rank: 79
RSPG Omega Ratio Rank: 77
RSPG Calmar Ratio Rank: 84
RSPG Martin Ratio Rank: 66

ERX

ERX Risk / Return Rank: 71
ERX Sharpe Ratio Rank: 82
ERX Sortino Ratio Rank: 72
ERX Omega Ratio Rank: 69
ERX Calmar Ratio Rank: 76
ERX Martin Ratio Rank: 57

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.

RSPG vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Energy ETF (RSPG) and Direxion Daily Energy Bull 2X Shares (ERX). 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.

	RSPG	ERX	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.88	+0.10
Sortino ratio: Return per unit of downside risk	2.54	2.31	+0.22
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.18	2.65	+0.52
Martin ratio: Return relative to average drawdown	8.07	6.74	+1.33

RSPG vs. ERX - Sharpe Ratio Comparison

The current RSPG Sharpe Ratio is 1.98, which is comparable to the ERX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of RSPG and ERX, 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

RSPG vs. ERX - Drawdown Comparison

The maximum RSPG drawdown since its inception was -79.98%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for RSPG and ERX.

Drawdown Indicators

	RSPG	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-79.98%	-99.54%	+19.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.72%	-29.97%	+16.25%
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	-42.34%	+19.28%
Max Drawdown (5Y) Largest decline over 5 years	-28.44%	-46.90%	+18.46%
Max Drawdown (10Y) Largest decline over 10 years	-73.17%	-98.59%	+25.42%
Current Drawdown Current decline from peak	-4.71%	-91.37%	+86.66%
Average Drawdown Average peak-to-trough decline	-25.33%	-67.24%	+41.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	11.83%	-6.40%

Volatility

RSPG vs. ERX - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight Energy ETF (RSPG) is 6.13%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 11.87%. This indicates that RSPG experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPG	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	11.87%	-5.74%
Volatility (6M) Calculated over the trailing 6-month period	16.97%	33.76%	-16.79%
Volatility (1Y) Calculated over the trailing 1-year period	22.06%	42.31%	-20.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.93%	51.50%	-23.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.44%	68.84%	-35.40%

RSPG vs. ERX - Expense Ratio Comparison

RSPG has a 0.40% expense ratio, which is lower than ERX's 0.91% expense ratio.

Dividends

RSPG vs. ERX - Dividend Comparison

RSPG's dividend yield for the trailing twelve months is around 1.96%, more than ERX's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERX Direxion Daily Energy Bull 2X Shares	1.49%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%	0.00%	0.00%
RSPG Invesco S&P 500 Equal Weight Energy ETF	1.96%	2.60%	2.43%	2.84%	3.43%	2.37%	3.15%	2.15%	2.18%	2.55%	1.14%	2.80%

Frequently Asked Questions

Can I hold both RSPG and ERX in my portfolio?

With a correlation of 0.97, RSPG and ERX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RSPG or ERX?

ERX has higher volatility (11.87%) compared to RSPG (6.13%). In terms of maximum drawdown, RSPG dropped -79.98% vs ERX's -99.54%.

Which ETF is better, RSPG or ERX?

On 10-year performance, RSPG leads with 9.99% vs -8.11% for ERX. On fees, RSPG is cheaper at 0.40% per year. On volatility, RSPG has been the lower-risk option at 6.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPG or ERX?

Over the 10-year period, RSPG has performed better with a 9.99% return vs -8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPG or ERX?

RSPG is cheaper with a 0.40% expense ratio, compared with 0.91% for ERX.

Which ETF pays a higher dividend yield, RSPG or ERX?

RSPG has the higher dividend yield at 1.96%, compared with 1.49% for ERX.

What is the main difference between RSPG and ERX?

RSPG tracks S&P 500 Equal Weight Energy Plus Index, while ERX tracks Energy Select Sector Index (200%). They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.40% for RSPG and 0.91% for ERX.

Which has better risk-adjusted returns?

RSPG currently has the higher Sharpe Ratio (1.98 vs 1.88), 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.