RSPN vs. SPY

Last updated Jun 24, 2026

RSPN (Invesco S&P 500® Equal Weight Industrials ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - RSPN is a Industrials Equities fund tracking the S&P 500® Equal Weight Industrials Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, RSPN returned 14.95%/yr vs 15.53%/yr for SPY. A 0.77 correlation means they provide meaningful diversification when combined. RSPN charges 0.40%/yr vs 0.09%/yr for SPY.

Performance

RSPN vs. SPY - 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 State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPN achieves a 9.36% return, which is significantly higher than SPY's 8.15% return. Both investments have delivered pretty close results over the past 10 years, with RSPN having a 14.95% annualized return and SPY not far ahead at 15.53%.

RSPN

• 1D: -1.50%
• 1M: 2.91%
• YTD: 9.36%
• 6M: 7.84%
• 1Y: 18.66%
• 3Y*: 17.62%
• 5Y*: 11.77%
• 10Y*: 14.95%

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

RSPN vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPN Invesco S&P 500® Equal Weight Industrials ETF	9.36%	13.84%	17.63%	22.32%	-8.79%	26.07%	18.07%	33.17%	-13.23%	23.22%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between RSPN and SPY is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Nov 7, 2006	0.77

The correlation between RSPN and SPY shifts across timeframes, from 0.65 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

RSPN vs. SPY - Sectors Allocation Comparison

Sectors	RSPN	SPY
Industrials	92.1%	7.8%
Technology	3.8%	39.0%
Consumer Cyclical	2.4%	9.9%
Utilities	1.6%	2.1%
Financial Services	0.1%	11.1%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Healthcare	-	8.3%
Real Estate	-	1.8%

Return for Risk

RSPN vs. SPY — Risk / Return Rank

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

RSPN

RSPN Risk / Return Rank: 34
RSPN Sharpe Ratio Rank: 34
RSPN Sortino Ratio Rank: 35
RSPN Omega Ratio Rank: 31
RSPN Calmar Ratio Rank: 32
RSPN Martin Ratio Rank: 36

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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. SPY - 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 State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.90	-0.73
Sortino ratio: Return per unit of downside risk	1.73	2.58	-0.85
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	1.52	2.67	-1.15
Martin ratio: Return relative to average drawdown	5.18	11.92	-6.74

RSPN vs. SPY - Sharpe Ratio Comparison

The current RSPN Sharpe Ratio is 1.17, which is lower than the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of RSPN and SPY, 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. SPY - Drawdown Comparison

The maximum RSPN drawdown since its inception was -59.61%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RSPN and SPY.

Drawdown Indicators

	RSPN	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-59.61%	-55.19%	-4.42%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-8.88%	-3.48%
Max Drawdown (3Y) Largest decline over 3 years	-20.89%	-18.76%	-2.13%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-24.50%	+2.62%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	-33.72%	-8.30%
Current Drawdown Current decline from peak	-3.12%	-3.17%	+0.05%
Average Drawdown Average peak-to-trough decline	-7.66%	-9.04%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	1.98%	+1.63%

Volatility

RSPN vs. SPY - Volatility Comparison

Invesco S&P 500® Equal Weight Industrials ETF (RSPN) has a higher volatility of 5.71% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that RSPN's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPN	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	4.87%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	9.85%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	12.50%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	17.15%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.36%	17.95%	+2.41%

RSPN vs. SPY - Expense Ratio Comparison

RSPN has a 0.40% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

RSPN vs. SPY - Dividend Comparison

RSPN's dividend yield for the trailing twelve months is around 0.84%, less than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPN Invesco S&P 500® Equal Weight Industrials ETF	0.84%	0.86%	0.98%	1.06%	1.09%	0.70%	0.96%	1.33%	1.49%	1.12%	1.31%	1.51%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both RSPN and SPY in my portfolio?

RSPN and SPY have a correlation of 0.65, 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 SPY?

RSPN has higher volatility (5.71%) compared to SPY (4.87%). In terms of maximum drawdown, RSPN dropped -59.61% vs SPY's -55.19%.

Which ETF is better, RSPN or SPY?

On 10-year performance, SPY leads with 15.53% vs 14.95% for RSPN. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPN or SPY?

Over the 10-year period, SPY has performed better with a 15.53% return vs 14.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPN or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.40% for RSPN.

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

SPY has the higher dividend yield at 1.03%, compared with 0.84% for RSPN.

What is the main difference between RSPN and SPY?

RSPN is categorized as Industrials Equities, while SPY is S&P 500. RSPN tracks S&P 500® Equal Weight Industrials Index, while SPY tracks S&P 500 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.40% for RSPN and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.90 vs 1.17), 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.