RSPT vs. FXL

Last updated Jun 14, 2026

RSPT (Invesco S&P 500 Equal Weight Technology ETF) and FXL (First Trust Technology AlphaDEX Fund) are both Technology Equities funds - RSPT tracks the S&P 500® Information Technology Index while FXL tracks the StrataQuant Technology Index. Both are passively managed. Over the past 10 years, RSPT returned 21.84%/yr vs 20.76%/yr for FXL. Their correlation of 0.92 suggests significant overlap in exposure. RSPT charges 0.40%/yr vs 0.61%/yr for FXL.

Performance

RSPT vs. FXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Technology ETF (RSPT) and First Trust Technology AlphaDEX Fund (FXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSPT achieves a 38.00% return, which is significantly higher than FXL's 25.90% return. Both investments have delivered pretty close results over the past 10 years, with RSPT having a 21.84% annualized return and FXL not far behind at 20.76%.

RSPT

• 1D: 1.46%
• 1M: 6.83%
• YTD: 38.00%
• 6M: 36.68%
• 1Y: 63.04%
• 3Y*: 29.59%
• 5Y*: 17.73%
• 10Y*: 21.84%

FXL

• 1D: 1.27%
• 1M: 9.18%
• YTD: 25.90%
• 6M: 24.57%
• 1Y: 41.44%
• 3Y*: 23.41%
• 5Y*: 11.96%
• 10Y*: 20.76%

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

RSPT vs. FXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RSPT Invesco S&P 500 Equal Weight Technology ETF	38.00%	22.15%	15.16%	35.18%	-24.50%	28.53%	30.21%	42.07%	-0.61%	32.98%
FXL First Trust Technology AlphaDEX Fund	25.90%	13.29%	16.13%	40.50%	-30.44%	18.20%	54.20%	38.66%	2.72%	35.82%

Correlation

The correlation between RSPT and FXL is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.92

The correlation between RSPT and FXL has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

RSPT vs. FXL - Sectors Allocation Comparison

Sectors	RSPT	FXL
Technology	97.4%	88.5%
Energy	1.5%	-
Industrials	1.1%	3.8%
Financial Services	0.0%	1.0%
Basic Materials	-	-
Communication Services	-	4.8%
Consumer Cyclical	-	1.0%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

RSPT vs. FXL — Risk / Return Rank

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

RSPT

RSPT Risk / Return Rank: 87
RSPT Sharpe Ratio Rank: 89
RSPT Sortino Ratio Rank: 82
RSPT Omega Ratio Rank: 81
RSPT Calmar Ratio Rank: 92
RSPT Martin Ratio Rank: 91

FXL

FXL Risk / Return Rank: 56
FXL Sharpe Ratio Rank: 55
FXL Sortino Ratio Rank: 50
FXL Omega Ratio Rank: 50
FXL Calmar Ratio Rank: 66
FXL Martin Ratio Rank: 59

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.

RSPT vs. FXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Technology ETF (RSPT) and First Trust Technology AlphaDEX Fund (FXL). 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.

	RSPT	FXL	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.64	+0.97
Sortino ratio: Return per unit of downside risk	3.17	2.19	+0.98
Omega ratio: Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	5.28	2.89	+2.40
Martin ratio: Return relative to average drawdown	18.68	9.33	+9.35

RSPT vs. FXL - Sharpe Ratio Comparison

The current RSPT Sharpe Ratio is 2.61, which is higher than the FXL Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of RSPT and FXL, 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

RSPT vs. FXL - Drawdown Comparison

The maximum RSPT drawdown since its inception was -58.91%, roughly equal to the maximum FXL drawdown of -61.41%. Use the drawdown chart below to compare losses from any high point for RSPT and FXL.

Drawdown Indicators

	RSPT	FXL	Difference
Max Drawdown Largest peak-to-trough decline	-58.91%	-61.41%	+2.50%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-13.56%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-28.27%	+1.65%
Max Drawdown (5Y) Largest decline over 5 years	-32.49%	-38.49%	+6.00%
Max Drawdown (10Y) Largest decline over 10 years	-33.67%	-38.49%	+4.82%
Current Drawdown Current decline from peak	-7.02%	-5.44%	-1.58%
Average Drawdown Average peak-to-trough decline	-8.90%	-11.36%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	4.19%	-0.95%

Volatility

RSPT vs. FXL - Volatility Comparison

Invesco S&P 500 Equal Weight Technology ETF (RSPT) and First Trust Technology AlphaDEX Fund (FXL) have volatilities of 11.32% and 11.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSPT	FXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	11.12%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	19.35%	19.36%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	23.22%	23.86%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.38%	25.37%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.92%	25.41%	-1.49%

RSPT vs. FXL - Expense Ratio Comparison

RSPT has a 0.40% expense ratio, which is lower than FXL's 0.61% expense ratio.

Dividends

RSPT vs. FXL - Dividend Comparison

RSPT's dividend yield for the trailing twelve months is around 0.27%, while FXL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXL First Trust Technology AlphaDEX Fund	0.00%	0.01%	0.11%	0.41%	0.34%	0.11%	0.04%	0.37%	0.32%	0.27%	1.12%	0.36%
RSPT Invesco S&P 500 Equal Weight Technology ETF	0.27%	0.39%	0.44%	0.56%	0.71%	0.50%	1.29%	0.92%	0.98%	0.84%	1.16%	1.18%

Frequently Asked Questions

Can I hold both RSPT and FXL in my portfolio?

With a correlation of 0.96, RSPT and FXL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RSPT or FXL?

RSPT has higher volatility (11.32%) compared to FXL (11.12%). In terms of maximum drawdown, RSPT dropped -58.91% vs FXL's -61.41%.

Which ETF is better, RSPT or FXL?

On 10-year performance, RSPT leads with 21.84% vs 20.76% for FXL. On fees, RSPT is cheaper at 0.40% per year. On volatility, FXL has been the lower-risk option at 11.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPT or FXL?

Over the 10-year period, RSPT has performed better with a 21.84% return vs 20.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPT or FXL?

RSPT is cheaper with a 0.40% expense ratio, compared with 0.61% for FXL.

Which ETF pays a higher dividend yield, RSPT or FXL?

RSPT has the higher dividend yield at 0.27%, compared with 0.00% for FXL.

What is the main difference between RSPT and FXL?

RSPT tracks S&P 500® Information Technology Index, while FXL tracks StrataQuant Technology Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.40% for RSPT and 0.61% for FXL.

Which has better risk-adjusted returns?

RSPT currently has the higher Sharpe Ratio (2.61 vs 1.64), 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.