RSPH vs. SPY

Last updated Jun 3, 2026

RSPH (Invesco S&P 500 Equal Weight Health Care ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - RSPH is a Health & Biotech Equities fund tracking the S&P 500 Equal Weighted / Health Care -SEC, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, RSPH returned 7.86%/yr vs 15.49%/yr for SPY. A 0.74 correlation means they provide meaningful diversification when combined. RSPH charges 0.40%/yr vs 0.09%/yr for SPY.

Performance

RSPH vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, RSPH achieves a -3.49% return, which is significantly lower than SPY's 10.91% return. Over the past 10 years, RSPH has underperformed SPY with an annualized return of 7.86%, while SPY has yielded a comparatively higher 15.49% annualized return.

RSPH

• 1D: -1.16%
• 1M: 1.35%
• YTD: -3.49%
• 6M: -3.00%
• 1Y: 8.54%
• 3Y*: 2.93%
• 5Y*: 2.46%
• 10Y*: 7.86%

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

RSPH vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPH Invesco S&P 500 Equal Weight Health Care ETF	-3.49%	9.52%	-0.94%	3.95%	-9.40%	23.19%	18.83%	25.48%	-0.66%	23.70%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between RSPH and SPY is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 8, 2006	0.74

Over the past year, the correlation between RSPH and SPY has dropped to 0.47 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

RSPH vs. SPY - Sectors Allocation Comparison

Sectors	RSPH	SPY
Healthcare	98.5%	8.4%
Financial Services	0.1%	11.8%
Basic Materials	-	1.8%
Communication Services	-	11.3%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	4.8%
Energy	-	3.6%
Industrials	-	7.8%
Real Estate	-	1.9%
Technology	-	35.9%
Utilities	-	2.4%

Return for Risk

RSPH vs. SPY — Risk / Return Rank

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

RSPH

RSPH Risk / Return Rank: 18
RSPH Sharpe Ratio Rank: 18
RSPH Sortino Ratio Rank: 18
RSPH Omega Ratio Rank: 17
RSPH Calmar Ratio Rank: 18
RSPH Martin Ratio Rank: 17

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

RSPH vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Health Care ETF (RSPH) and State Street SPDR S&P 500 ETF (SPY). 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.

	RSPH	SPY	Difference
Sharpe ratio Return per unit of total volatility	0.56	2.38	-1.82
Sortino ratio Return per unit of downside risk	0.90	3.24	-2.34
Omega ratio Gain probability vs. loss probability	1.11	1.43	-0.32
Calmar ratio Return relative to maximum drawdown	0.76	3.16	-2.41
Martin ratio Return relative to average drawdown	1.91	14.72	-12.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSPH vs. SPY - Sharpe Ratio Comparison

The current RSPH Sharpe Ratio is 0.56, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of RSPH and SPY, 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

	RSPH	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	2.38	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.82	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.87	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.59	-0.01

Drawdowns

RSPH vs. SPY - Drawdown Comparison

The maximum RSPH drawdown since its inception was -40.49%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RSPH and SPY.

Drawdown Indicators

	RSPH	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-40.49%	-55.19%	+14.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-8.88%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	-18.76%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-24.50%	+2.55%
Max Drawdown (10Y) Largest decline over 10 years	-30.44%	-33.72%	+3.28%
Current Drawdown Current decline from peak	-7.58%	-0.70%	-6.88%
Average Drawdown Average peak-to-trough decline	-6.14%	-9.05%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	1.91%	+2.40%

Volatility

RSPH vs. SPY - Volatility Comparison

Invesco S&P 500 Equal Weight Health Care ETF (RSPH) has a higher volatility of 3.82% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that RSPH's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPH	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	2.84%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	8.90%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.45%	11.83%	+3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	17.05%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	17.94%	-0.22%

RSPH vs. SPY - Expense Ratio Comparison

RSPH has a 0.40% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

RSPH vs. SPY - Dividend Comparison

RSPH's dividend yield for the trailing twelve months is around 0.73%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPH Invesco S&P 500 Equal Weight Health Care ETF	0.73%	0.70%	0.71%	0.66%	0.64%	0.50%	0.51%	0.54%	0.53%	0.47%	0.48%	0.49%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both RSPH and SPY in my portfolio?

RSPH and SPY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPH or SPY?

RSPH has higher volatility (3.82%) compared to SPY (2.84%). In terms of maximum drawdown, RSPH dropped -40.49% vs SPY's -55.19%.

Which ETF is better, RSPH or SPY?

On 10-year performance, SPY leads with 15.49% vs 7.86% for RSPH. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPH or SPY?

Over the 10-year period, SPY has performed better with a 15.49% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPH or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.40% for RSPH.

Which ETF pays a higher dividend yield, RSPH or SPY?

SPY has the higher dividend yield at 0.98%, compared with 0.73% for RSPH.

What is the main difference between RSPH and SPY?

RSPH is categorized as Health & Biotech Equities, while SPY is S&P 500. RSPH tracks S&P 500 Equal Weighted / Health Care -SEC, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.40% for RSPH and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 0.56), 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.