RSPN vs. BALT
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 3 years, RSPN returned 18.21%/yr vs 7.11%/yr for BALT. A 0.63 correlation means they provide meaningful diversification when combined. RSPN charges 0.40%/yr vs 0.69%/yr for BALT.
Performance
RSPN vs. BALT - Performance Comparison
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Returns By Period
In the year-to-date period, RSPN achieves a 11.03% return, which is significantly higher than BALT's 2.21% return.
RSPN
- 1D
- 0.31%
- 1M
- 4.48%
- YTD
- 11.03%
- 6M
- 9.28%
- 1Y
- 22.27%
- 3Y*
- 18.21%
- 5Y*
- 12.23%
- 10Y*
- 15.13%
BALT
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 2.21%
- 6M
- 2.54%
- 1Y
- 6.93%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
RSPN vs. BALT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 11.03% | 13.84% | 17.63% | 22.32% | -8.79% | 6.36% |
BALT Innovator Defined Wealth Shield ETF | 2.21% | 6.65% | 9.98% | 7.45% | 2.54% | 0.91% |
Correlation
The correlation between RSPN and BALT is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.63 |
The correlation between RSPN and BALT has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
RSPN vs. BALT — Risk / Return Rank
RSPN
BALT
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 ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.69 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 6.04 | -4.23 |
| Martin ratioReturn relative to average drawdown | 6.20 | 22.52 | -16.33 |
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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.
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Drawdown Indicators
| RSPN | BALT | Difference | |
|---|---|---|---|
Max DrawdownLargest 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% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.02% | — | — |
Current DrawdownCurrent decline from peak | -1.65% | 0.00% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -0.34% | -7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 0.31% | +3.29% |
Volatility
RSPN vs. BALT - Volatility Comparison
Invesco S&P 500® Equal Weight Industrials ETF (RSPN) has a higher volatility of 5.44% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.30%. 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.
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Volatility by Period
| RSPN | BALT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 0.30% | +5.14% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 1.47% | +11.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.04% | 2.16% | +13.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 3.30% | +14.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.41% | 3.30% | +17.11% |
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 1.03%, 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 | 1.03% | 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
RSPN and BALT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSPN has higher volatility (5.44%) compared to BALT (0.30%). In terms of maximum drawdown, RSPN dropped -59.61% vs BALT's -4.89%.
On 3-year performance, RSPN leads with 18.21% vs 7.11% for BALT. On fees, RSPN is cheaper at 0.40% per year. On volatility, BALT has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RSPN has performed better with a 18.21% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPN is cheaper with a 0.40% expense ratio, compared with 0.69% for BALT.
RSPN has the higher dividend yield at 1.03%, compared with 0.00% for 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.
BALT currently has the higher Sharpe Ratio (3.22 vs 1.40), 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.
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