RSPN vs. BIS

Last updated Jul 12, 2026

RSPN (Invesco S&P 500® Equal Weight Industrials ETF) and BIS (ProShares UltraShort Nasdaq Biotechnology) are both exchange-traded funds - RSPN is a Industrials Equities fund tracking the S&P 500® Equal Weight Industrials Index, while BIS is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (-200%). Both are passively managed. Over the past 10 years, RSPN returned 14.46%/yr vs -25.72%/yr for BIS. At a correlation of -0.51, they often move in opposite directions. RSPN charges 0.40%/yr vs 0.95%/yr for BIS.

Performance

RSPN vs. BIS - 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 ProShares UltraShort Nasdaq Biotechnology (BIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPN achieves a 12.08% return, which is significantly higher than BIS's -29.18% return. Over the past 10 years, RSPN has outperformed BIS with an annualized return of 14.46%, while BIS has yielded a comparatively lower -25.72% annualized return.

RSPN

• 1D: 0.45%
• 1M: 2.14%
• 6M: 6.64%
• YTD: 12.08%
• 1Y: 16.22%
• 3Y*: 16.11%
• 5Y*: 12.03%
• 10Y*: 14.46%

BIS

• 1D: 5.01%
• 1M: -20.61%
• 6M: -26.01%
• YTD: -29.18%
• 1Y: -57.69%
• 3Y*: -29.62%
• 5Y*: -16.93%
• 10Y*: -25.72%

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

RSPN vs. BIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPN Invesco S&P 500® Equal Weight Industrials ETF	12.08%	13.84%	17.63%	22.32%	-8.79%	26.07%	18.07%	33.17%	-13.23%	23.22%
BIS ProShares UltraShort Nasdaq Biotechnology	-29.18%	-45.95%	4.79%	-6.54%	-2.14%	-14.74%	-56.01%	-41.01%	5.14%	-36.98%

Correlation

The correlation between RSPN and BIS is -0.43, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.43
Correlation (3Y) Calculated over the trailing 3-year period	-0.54
Correlation (5Y) Calculated over the trailing 5-year period	-0.53
Correlation (10Y) Calculated over the trailing 10-year period	-0.49
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	-0.51

The correlation between RSPN and BIS shifts across timeframes, from -0.54 (3 years) to -0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RSPN vs. BIS — Risk / Return Rank

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

RSPN

RSPN Risk / Return Rank: 32
RSPN Sharpe Ratio Rank: 32
RSPN Sortino Ratio Rank: 32
RSPN Omega Ratio Rank: 29
RSPN Calmar Ratio Rank: 31
RSPN Martin Ratio Rank: 35

BIS

BIS Risk / Return Rank: 1
BIS Sharpe Ratio Rank: 0
BIS Sortino Ratio Rank: 0
BIS Omega Ratio Rank: 0
BIS Calmar Ratio Rank: 1
BIS Martin Ratio Rank: 1

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.

RSPN vs. BIS - 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 ProShares UltraShort Nasdaq Biotechnology (BIS). 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	BIS	Difference
Sharpe ratio: Return per unit of total volatility	0.95	-1.38	+2.33
Sortino ratio: Return per unit of downside risk	1.45	-2.33	+3.78
Omega ratio: Gain probability vs. loss probability	1.17	0.75	+0.42
Calmar ratio: Return relative to maximum drawdown	1.24	-0.93	+2.17
Martin ratio: Return relative to average drawdown	4.24	-1.45	+5.69

RSPN vs. BIS - Sharpe Ratio Comparison

The current RSPN Sharpe Ratio is 0.95, which is higher than the BIS Sharpe Ratio of -1.38. The chart below compares the historical Sharpe Ratios of RSPN and BIS, 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. BIS - Drawdown Comparison

The maximum RSPN drawdown since its inception was -59.61%, smaller than the maximum BIS drawdown of -99.89%. Use the drawdown chart below to compare losses from any high point for RSPN and BIS.

Drawdown Indicators

	RSPN	BIS	Difference
Max Drawdown Largest peak-to-trough decline	-59.61%	-99.89%	+40.28%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-60.93%	+48.57%
Max Drawdown (3Y) Largest decline over 3 years	-20.89%	-73.96%	+53.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-80.19%	+58.31%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	-95.82%	+53.80%
Current Drawdown Current decline from peak	-1.71%	-99.89%	+98.18%
Average Drawdown Average peak-to-trough decline	-7.64%	-90.07%	+82.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	38.80%	-35.18%

Volatility

RSPN vs. BIS - Volatility Comparison

The current volatility for Invesco S&P 500® Equal Weight Industrials ETF (RSPN) is 6.13%, while ProShares UltraShort Nasdaq Biotechnology (BIS) has a volatility of 12.76%. This indicates that RSPN experiences smaller price fluctuations and is considered to be less risky than BIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPN	BIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	12.76%	-6.63%
Volatility (6M) Calculated over the trailing 6-month period	12.92%	32.24%	-19.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	41.01%	-24.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	43.96%	-25.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.32%	46.19%	-25.87%

RSPN vs. BIS - Expense Ratio Comparison

RSPN has a 0.40% expense ratio, which is lower than BIS's 0.95% expense ratio.

Dividends

RSPN vs. BIS - Dividend Comparison

RSPN's dividend yield for the trailing twelve months is around 0.82%, less than BIS's 5.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIS ProShares UltraShort Nasdaq Biotechnology	5.96%	5.25%	3.73%	1.75%	0.00%	0.00%	0.45%	2.11%	0.37%	0.00%	0.00%	0.00%
RSPN Invesco S&P 500® Equal Weight Industrials ETF	0.82%	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 BIS in my portfolio?

RSPN and BIS have a correlation of -0.43, 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 BIS?

BIS has higher volatility (12.76%) compared to RSPN (6.13%). In terms of maximum drawdown, RSPN dropped -59.61% vs BIS's -99.89%.

Which ETF is better, RSPN or BIS?

On 10-year performance, RSPN leads with 14.46% vs -25.72% for BIS. On fees, RSPN is cheaper at 0.40% per year. On volatility, RSPN 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, RSPN or BIS?

Over the 10-year period, RSPN has performed better with a 14.46% return vs -25.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPN or BIS?

RSPN is cheaper with a 0.40% expense ratio, compared with 0.95% for BIS.

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

BIS has the higher dividend yield at 5.96%, compared with 0.82% for RSPN.

What is the main difference between RSPN and BIS?

RSPN is categorized as Industrials Equities, while BIS is Leveraged Equities. RSPN tracks S&P 500® Equal Weight Industrials Index, while BIS tracks NASDAQ Biotechnology Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.40% for RSPN and 0.95% for BIS.

Which has better risk-adjusted returns?

RSPN currently has the higher Sharpe Ratio (0.95 vs -1.38), 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.