RSPN vs. BALT

Last updated Aug 2, 2026

RSPN (Invesco S&P 500® Equal Weight Industrials ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - RSPN is a Industrials Equities fund tracking the S&P 500® Equal Weight Industrials Index, while BALT is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 5 years, RSPN returned 11.67%/yr vs 5.98%/yr for BALT. Their 0.63 correlation means they have sometimes moved together and sometimes differently. RSPN charges 0.40%/yr vs 0.69%/yr for BALT.

Performance

RSPN vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® Equal Weight Industrials ETF (RSPN) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPN achieves a 11.17% return, which is significantly higher than BALT's 2.78% return.

RSPN

• 1D: 0.53%
• 1M: -2.05%
• 6M: 4.96%
• YTD: 11.17%
• 1Y: 16.51%
• 3Y*: 15.49%
• 5Y*: 11.67%
• 10Y*: 14.49%
• ALL TIME*: 11.48%

BALT

• 1D: 0.17%
• 1M: 0.45%
• 6M: 2.21%
• YTD: 2.78%
• 1Y: 6.82%
• 3Y*: 6.98%
• 5Y*: 5.98%
• 10Y*: —
• ALL TIME*: 5.93%

*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)
BALT Innovator Defined Wealth Shield ETF	$14.85M	$18.00M	$16.07M
RSPN Invesco S&P 500® Equal Weight Industrials ETF	$7.22M	$5.89M	$7.57M

RSPN vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RSPN Invesco S&P 500® Equal Weight Industrials ETF	11.17%	13.84%	17.63%	22.32%	-8.79%	6.36%
BALT Innovator Defined Wealth Shield ETF	2.78%	6.65%	9.98%	7.45%	2.54%	0.91%

Correlation

The correlation between RSPN and BALT is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.63

The correlation between RSPN and BALT shifts across timeframes, from 0.52 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

RSPN vs. BALT - Sectors Allocation Comparison

Sectors	RSPN	BALT
Industrials	86.7%	8.4%
Technology	7.1%	37.9%
Basic Materials	3.6%	1.7%
Utilities	1.4%	2.3%
Consumer Cyclical	1.0%	9.6%
Financial Services	0.1%	11.7%
Communication Services	-	10.0%
Consumer Defensive	-	4.6%
Energy	-	3.0%
Healthcare	-	9.1%
Real Estate	-	1.9%

Return for Risk

RSPN vs. BALT — Risk / Return Rank

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

RSPN

RSPN Risk / Return Rank: 36
RSPN Sharpe Ratio Rank: 36
RSPN Sortino Ratio Rank: 36
RSPN Omega Ratio Rank: 34
RSPN Calmar Ratio Rank: 35
RSPN Martin Ratio Rank: 38

BALT

BALT Risk / Return Rank: 96
BALT Sharpe Ratio Rank: 96
BALT Sortino Ratio Rank: 96
BALT Omega Ratio Rank: 96
BALT Calmar Ratio Rank: 96
BALT Martin Ratio Rank: 95

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.

RSPN vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Equal Weight Industrials ETF (RSPN) and Innovator Defined Wealth Shield ETF (BALT). 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.

	RSPN	BALT	Difference
Sharpe ratio: Return per unit of total volatility	0.89	2.91	-2.02
Sortino ratio: Return per unit of downside risk	1.35	4.41	-3.05
Omega ratio: Gain probability vs. loss probability	1.16	1.62	-0.46
Calmar ratio: Return relative to maximum drawdown	1.18	5.71	-4.53
Martin ratio: Return relative to average drawdown	4.03	21.02	-16.99

RSPN vs. BALT - Sharpe Ratio Comparison

The current RSPN Sharpe Ratio is 0.89, which is lower than the BALT Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of RSPN and BALT, 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

RSPN vs. BALT - Drawdown Comparison

The maximum RSPN drawdown since its inception was -59.61%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for RSPN and BALT.

Drawdown Indicators

	RSPN	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-59.61%	-4.89%	-54.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-1.15%	-11.21%
Max Drawdown (3Y) Largest decline over 3 years	-20.89%	-4.89%	-16.00%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-4.89%	-16.99%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	—	—
Current Drawdown Current decline from peak	-2.50%	0.00%	-2.50%
Average Drawdown Average peak-to-trough decline	-7.63%	-0.34%	-7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	0.31%	+3.31%

Volatility

RSPN vs. BALT - Volatility Comparison

Invesco S&P 500® Equal Weight Industrials ETF (RSPN) has a higher volatility of 4.54% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.80%. This indicates that RSPN's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPN	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	0.80%	+3.74%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	1.49%	+11.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.33%	2.27%	+14.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	3.30%	+14.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.34%	3.28%	+17.06%

RSPN vs. BALT - Expense Ratio Comparison

RSPN has a 0.40% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

RSPN vs. BALT - Dividend Comparison

RSPN's dividend yield for the trailing twelve months is around 0.83%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RSPN Invesco S&P 500® Equal Weight Industrials ETF	0.83%	0.86%	0.98%	1.06%	1.09%	0.70%	0.96%	1.33%	1.49%	1.12%	1.31%	1.51%

Frequently Asked Questions

Can I hold both RSPN and BALT in my portfolio?

RSPN and BALT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPN or BALT?

RSPN has higher volatility (4.54%) compared to BALT (0.80%). In terms of maximum drawdown, RSPN dropped -59.61% vs BALT's -4.89%.

Which ETF is better, RSPN or BALT?

On 5-year performance, RSPN leads with 11.67% vs 5.98% for BALT. On fees, RSPN is cheaper at 0.40% per year. On volatility, BALT has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPN or BALT?

Over the 5-year period, RSPN has performed better with a 11.67% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPN or BALT?

RSPN is cheaper with a 0.40% expense ratio, compared with 0.69% for BALT.

Which ETF pays a higher dividend yield, RSPN or BALT?

RSPN has the higher dividend yield at 0.83%, compared with 0.00% for BALT.

What is the main difference between RSPN and BALT?

RSPN is categorized as Industrials Equities, while BALT is Defined Outcome. RSPN tracks S&P 500® Equal Weight Industrials Index, while BALT tracks S&P 500. They also come from different issuers: Invesco and Innovator. Their fees differ too: 0.40% for RSPN and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (2.91 vs 0.89), 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.