RSPM vs. VAW

Last updated Jun 5, 2026

RSPM (Invesco S&P 500® Equal Weight Materials ETF) and VAW (Vanguard Materials ETF) are both Materials funds - RSPM tracks the S&P 500 Equal Weight Materials Index while VAW tracks the MSCI US Investable Market Materials 25/50 Index. Both are passively managed. Over the past 10 years, RSPM returned 10.49%/yr vs 10.23%/yr for VAW. Their correlation of 0.90 suggests significant overlap in exposure. RSPM charges 0.40%/yr vs 0.10%/yr for VAW.

Performance

RSPM vs. VAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® Equal Weight Materials ETF (RSPM) and Vanguard Materials ETF (VAW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPM achieves a 15.54% return, which is significantly higher than VAW's 13.10% return. Both investments have delivered pretty close results over the past 10 years, with RSPM having a 10.49% annualized return and VAW not far behind at 10.23%.

RSPM

• 1D: -0.21%
• 1M: -0.70%
• YTD: 15.54%
• 6M: 19.82%
• 1Y: 23.31%
• 3Y*: 10.38%
• 5Y*: 4.25%
• 10Y*: 10.49%

VAW

• 1D: -0.06%
• 1M: 0.86%
• YTD: 13.10%
• 6M: 16.68%
• 1Y: 22.20%
• 3Y*: 12.48%
• 5Y*: 5.79%
• 10Y*: 10.23%

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

RSPM vs. VAW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPM Invesco S&P 500® Equal Weight Materials ETF	15.54%	6.90%	-1.30%	8.32%	-9.95%	31.21%	22.77%	25.11%	-14.75%	25.87%
VAW Vanguard Materials ETF	13.10%	12.30%	0.48%	13.67%	-11.80%	27.43%	19.44%	23.53%	-17.49%	23.76%

Correlation

The correlation between RSPM and VAW is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 8, 2006	0.90

The correlation between RSPM and VAW has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

RSPM vs. VAW - Sectors Allocation Comparison

Sectors	RSPM	VAW
Basic Materials	79.4%	90.2%
Consumer Cyclical	20.6%	8.3%
Industrials	3.5%	1.0%
Financial Services	0.0%	-
Communication Services	-	-
Consumer Defensive	-	0.0%
Energy	-	0.5%
Healthcare	-	0.5%
Real Estate	-	-
Technology	-	0.1%
Utilities	-	-

Return for Risk

RSPM vs. VAW — Risk / Return Rank

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

RSPM

RSPM Risk / Return Rank: 36
RSPM Sharpe Ratio Rank: 36
RSPM Sortino Ratio Rank: 38
RSPM Omega Ratio Rank: 35
RSPM Calmar Ratio Rank: 39
RSPM Martin Ratio Rank: 35

VAW

VAW Risk / Return Rank: 35
VAW Sharpe Ratio Rank: 36
VAW Sortino Ratio Rank: 36
VAW Omega Ratio Rank: 34
VAW Calmar Ratio Rank: 34
VAW Martin Ratio Rank: 36

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.

RSPM vs. VAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Equal Weight Materials ETF (RSPM) and Vanguard Materials ETF (VAW). 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.

	RSPM	VAW	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.27	+0.03
Sortino ratio: Return per unit of downside risk	1.93	1.83	+0.10
Omega ratio: Gain probability vs. loss probability	1.23	1.22	+0.01
Calmar ratio: Return relative to maximum drawdown	1.90	1.66	+0.24
Martin ratio: Return relative to average drawdown	5.19	5.43	-0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSPM vs. VAW - Sharpe Ratio Comparison

The current RSPM Sharpe Ratio is 1.29, which is comparable to the VAW Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of RSPM and VAW, 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

	RSPM	VAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	1.27	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.30	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.48	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.39	0.00

Drawdowns

RSPM vs. VAW - Drawdown Comparison

The maximum RSPM drawdown since its inception was -61.18%, roughly equal to the maximum VAW drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for RSPM and VAW.

Drawdown Indicators

	RSPM	VAW	Difference
Max Drawdown Largest peak-to-trough decline	-61.18%	-62.17%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.32%	-13.42%	+1.10%
Max Drawdown (3Y) Largest decline over 3 years	-27.19%	-23.21%	-3.98%
Max Drawdown (5Y) Largest decline over 5 years	-27.19%	-25.50%	-1.69%
Max Drawdown (10Y) Largest decline over 10 years	-39.84%	-41.13%	+1.29%
Current Drawdown Current decline from peak	-4.32%	-3.84%	-0.48%
Average Drawdown Average peak-to-trough decline	-8.79%	-9.63%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	4.10%	+0.40%

Volatility

RSPM vs. VAW - Volatility Comparison

The current volatility for Invesco S&P 500® Equal Weight Materials ETF (RSPM) is 5.56%, while Vanguard Materials ETF (VAW) has a volatility of 5.88%. This indicates that RSPM experiences smaller price fluctuations and is considered to be less risky than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPM	VAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	5.88%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	13.90%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	17.62%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.12%	19.62%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	21.20%	+0.73%

RSPM vs. VAW - Expense Ratio Comparison

RSPM has a 0.40% expense ratio, which is higher than VAW's 0.10% expense ratio.

Dividends

RSPM vs. VAW - Dividend Comparison

RSPM's dividend yield for the trailing twelve months is around 1.50%, more than VAW's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPM Invesco S&P 500® Equal Weight Materials ETF	1.50%	2.06%	2.04%	2.05%	2.19%	1.43%	1.57%	1.81%	1.83%	1.50%	1.28%	1.57%
VAW Vanguard Materials ETF	1.36%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Frequently Asked Questions

Can I hold both RSPM and VAW in my portfolio?

With a correlation of 0.94, RSPM and VAW 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, RSPM or VAW?

VAW has higher volatility (5.88%) compared to RSPM (5.56%). In terms of maximum drawdown, RSPM dropped -61.18% vs VAW's -62.17%.

Which ETF is better, RSPM or VAW?

On 10-year performance, RSPM leads with 10.49% vs 10.23% for VAW. On fees, VAW is cheaper at 0.10% per year. On volatility, RSPM has been the lower-risk option at 5.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPM or VAW?

Over the 10-year period, RSPM has performed better with a 10.49% return vs 10.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPM or VAW?

VAW is cheaper with a 0.10% expense ratio, compared with 0.40% for RSPM.

Which ETF pays a higher dividend yield, RSPM or VAW?

RSPM has the higher dividend yield at 1.50%, compared with 1.36% for VAW.

What is the main difference between RSPM and VAW?

RSPM tracks S&P 500 Equal Weight Materials Index, while VAW tracks MSCI US Investable Market Materials 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.40% for RSPM and 0.10% for VAW.

Which has better risk-adjusted returns?

RSPM currently has the higher Sharpe Ratio (1.29 vs 1.27), 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.