RSPN vs. MADE

Last updated Jun 23, 2026

RSPN (Invesco S&P 500® Equal Weight Industrials ETF) and MADE (iShares U.S. Manufacturing ETF) are both Industrials Equities funds - RSPN tracks the S&P 500® Equal Weight Industrials Index while MADE tracks the S&P U.S. Manufacturing Select Index. Both are passively managed. Over the past year, RSPN returned 22.27% vs 55.68% for MADE. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.40% expense ratio.

Performance

RSPN vs. MADE - 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 iShares U.S. Manufacturing ETF (MADE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPN achieves a 11.03% return, which is significantly lower than MADE's 27.00% 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%

MADE

• 1D: 1.31%
• 1M: 7.13%
• YTD: 27.00%
• 6M: 24.61%
• 1Y: 55.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RSPN vs. MADE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSPN Invesco S&P 500® Equal Weight Industrials ETF	11.03%	13.84%	6.01%
MADE iShares U.S. Manufacturing ETF	27.00%	27.34%	0.08%

Correlation

The correlation between RSPN and MADE is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.90

The correlation between RSPN and MADE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

RSPN vs. MADE - Sectors Allocation Comparison

Sectors	RSPN	MADE
Industrials	92.1%	74.7%
Technology	3.8%	16.3%
Consumer Cyclical	2.4%	7.3%
Utilities	1.6%	0.1%
Financial Services	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	1.3%
Healthcare	-	-
Real Estate	-	-

Return for Risk

RSPN vs. MADE — Risk / Return Rank

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

RSPN

RSPN Risk / Return Rank: 39
RSPN Sharpe Ratio Rank: 41
RSPN Sortino Ratio Rank: 41
RSPN Omega Ratio Rank: 37
RSPN Calmar Ratio Rank: 37
RSPN Martin Ratio Rank: 40

MADE

MADE Risk / Return Rank: 81
MADE Sharpe Ratio Rank: 84
MADE Sortino Ratio Rank: 79
MADE Omega Ratio Rank: 76
MADE Calmar Ratio Rank: 82
MADE Martin Ratio Rank: 87

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. MADE - 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 iShares U.S. Manufacturing ETF (MADE). 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	MADE	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.60	-1.20
Sortino ratio: Return per unit of downside risk	2.04	3.35	-1.32
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.19
Calmar ratio: Return relative to maximum drawdown	1.81	4.17	-2.36
Martin ratio: Return relative to average drawdown	6.20	17.96	-11.77

RSPN vs. MADE - Sharpe Ratio Comparison

The current RSPN Sharpe Ratio is 1.40, which is lower than the MADE Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of RSPN and MADE, 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. MADE - Drawdown Comparison

The maximum RSPN drawdown since its inception was -59.61%, which is greater than MADE's maximum drawdown of -23.79%. Use the drawdown chart below to compare losses from any high point for RSPN and MADE.

Drawdown Indicators

	RSPN	MADE	Difference
Max Drawdown Largest peak-to-trough decline	-59.61%	-23.79%	-35.82%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-13.43%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-20.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	—	—
Current Drawdown Current decline from peak	-1.65%	0.00%	-1.65%
Average Drawdown Average peak-to-trough decline	-7.66%	-3.89%	-3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.11%	+0.49%

Volatility

RSPN vs. MADE - Volatility Comparison

The current volatility for Invesco S&P 500® Equal Weight Industrials ETF (RSPN) is 5.44%, while iShares U.S. Manufacturing ETF (MADE) has a volatility of 8.28%. This indicates that RSPN experiences smaller price fluctuations and is considered to be less risky than MADE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPN	MADE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	8.28%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	12.79%	17.93%	-5.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	21.55%	-5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	22.65%	-4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	22.65%	-2.24%

RSPN vs. MADE - Expense Ratio Comparison

Both RSPN and MADE have an expense ratio of 0.40%.

Dividends

RSPN vs. MADE - Dividend Comparison

RSPN's dividend yield for the trailing twelve months is around 1.03%, more than MADE's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MADE iShares U.S. Manufacturing ETF	0.61%	0.89%	0.34%	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

Can I hold both RSPN and MADE in my portfolio?

RSPN and MADE have a correlation of 0.86, 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 MADE?

MADE has higher volatility (8.28%) compared to RSPN (5.44%). In terms of maximum drawdown, RSPN dropped -59.61% vs MADE's -23.79%.

Which ETF is better, RSPN or MADE?

On 1-year performance, MADE leads with 55.68% vs 22.27% for RSPN. Both ETFs have the same 0.40% expense ratio. On volatility, RSPN has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPN or MADE?

Over the 1-year period, MADE has performed better with a 55.68% return vs 22.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPN or MADE?

RSPN and MADE have the same expense ratio: 0.40% per year.

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

RSPN has the higher dividend yield at 1.03%, compared with 0.61% for MADE.

What is the main difference between RSPN and MADE?

RSPN tracks S&P 500® Equal Weight Industrials Index, while MADE tracks S&P U.S. Manufacturing Select Index. They also come from different issuers: Invesco and iShares.

Which has better risk-adjusted returns?

MADE currently has the higher Sharpe Ratio (2.60 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.