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SHE vs. RPG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHE vs. RPG

Last updated Jun 24, 2026

SHE (SPDR SSGA Gender Diversity Index ETF) and RPG (Invesco S&P 500 Pure Growth ETF) are both Large Cap Growth Equities funds - SHE tracks the SSGA Gender Diversity (TR) while RPG tracks the S&P 500/Citigroup Pure Growth Index. Both are passively managed. Over the past 10 years, SHE returned 12.78%/yr vs 15.14%/yr for RPG. Their correlation of 0.86 suggests significant overlap in exposure. SHE charges 0.20%/yr vs 0.35%/yr for RPG.

Performance

SHE vs. RPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Gender Diversity Index ETF (SHE) and Invesco S&P 500 Pure Growth ETF (RPG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SHE achieves a 16.68% return, which is significantly lower than RPG's 30.31% return. Over the past 10 years, SHE has underperformed RPG with an annualized return of 12.78%, while RPG has yielded a comparatively higher 15.14% annualized return.

SHE

1D
-1.22%
1M
1.20%
YTD
16.68%
6M
16.31%
1Y
28.00%
3Y*
22.78%
5Y*
10.14%
10Y*
12.78%

RPG

1D
-4.60%
1M
5.48%
YTD
30.31%
6M
27.62%
1Y
38.51%
3Y*
27.72%
5Y*
11.59%
10Y*
15.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHE vs. RPG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SHE
SPDR SSGA Gender Diversity Index ETF		16.68%15.50%23.35%22.37%-21.73%15.17%17.93%23.63%-3.48%19.56%
RPG
Invesco S&P 500 Pure Growth ETF		30.31%13.41%28.23%8.04%-27.55%29.40%29.34%28.34%-4.53%26.20%

Correlation

The correlation between SHE and RPG 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 (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.87

Correlation (10Y)
Calculated over the trailing 10-year period

0.86

Correlation (All Time)
Calculated using the full available price history since Mar 8, 2016

0.86

The correlation between SHE and RPG has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

SHE vs. RPG - Sectors Allocation Comparison

Sectors
SHE
RPG

Technology

36.5%
46.9%

Financial Services

11.6%
5.3%

Consumer Cyclical

10.3%
14.7%

Communication Services

10.1%
5.4%

Healthcare

8.8%
6.4%

Industrials

8.0%
14.0%

Consumer Defensive

4.6%
1.1%

Energy

3.3%
1.6%

Utilities

2.9%
2.4%

Real Estate

1.9%
1.0%

Basic Materials

1.8%
1.2%

Technology

SHE
36.5%
RPG
46.9%

Financial Services

SHE
11.6%
RPG
5.3%

Consumer Cyclical

SHE
10.3%
RPG
14.7%

Communication Services

SHE
10.1%
RPG
5.4%

Healthcare

SHE
8.8%
RPG
6.4%

Industrials

SHE
8.0%
RPG
14.0%

Consumer Defensive

SHE
4.6%
RPG
1.1%

Energy

SHE
3.3%
RPG
1.6%

Utilities

SHE
2.9%
RPG
2.4%

Real Estate

SHE
1.9%
RPG
1.0%

Basic Materials

SHE
1.8%
RPG
1.2%

Compare stocks, funds, or ETFs

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SPDR SSGA Gender Diversity Index ETF

Invesco S&P 500 Pure Growth ETF

Often compared with SHE:
SHE vs. SPYSHE vs. VOOSHE vs. VEGNSHE vs. SCHXSHE vs. VTISHE vs. ESGVSHE vs. ^GSPC
Often compared with RPG:
RPG vs. QQQRPG vs. SPGPRPG vs. SPYGRPG vs. VOORPG vs. VOOGRPG vs. SCHGRPG vs. RSP

Return for Risk

SHE vs. RPG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHE
SHE Risk / Return Rank: 6969
Overall Rank
SHE Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
SHE Sortino Ratio Rank: 6868
Sortino Ratio Rank
SHE Omega Ratio Rank: 6464
Omega Ratio Rank
SHE Calmar Ratio Rank: 7070
Calmar Ratio Rank
SHE Martin Ratio Rank: 7373
Martin Ratio Rank
RPG
RPG Risk / Return Rank: 6161
Overall Rank
RPG Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
RPG Sortino Ratio Rank: 5252
Sortino Ratio Rank
RPG Omega Ratio Rank: 5353
Omega Ratio Rank
RPG Calmar Ratio Rank: 7272
Calmar Ratio Rank
RPG Martin Ratio Rank: 7373
Martin Ratio Rank
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.

SHE vs. RPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) and Invesco S&P 500 Pure Growth ETF (RPG). 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.

SHERPGDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.75

+0.34

Sortino ratioReturn per unit of downside risk
2.92
2.37

+0.55

Omega ratioGain probability vs. loss probability

1.36

1.31

+0.05

Calmar ratioReturn relative to maximum drawdown

3.29

3.49

-0.20

Martin ratioReturn relative to average drawdown

12.91

13.16

-0.25

SHE vs. RPG - Sharpe Ratio Comparison

The current SHE Sharpe Ratio is 2.09, which is comparable to the RPG Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of SHE and RPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SHE vs. RPG - Drawdown Comparison

The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum RPG drawdown of -53.27%. Use the drawdown chart below to compare losses from any high point for SHE and RPG.

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Drawdown Indicators

SHERPGDifference

Max Drawdown

Largest peak-to-trough decline

-35.80%

-53.27%

+17.47%

Max Drawdown (1Y)

Largest decline over 1 year

-8.54%

-11.08%

+2.54%

Max Drawdown (3Y)

Largest decline over 3 years

-17.07%

-24.75%

+7.68%

Max Drawdown (5Y)

Largest decline over 5 years

-31.69%

-35.59%

+3.90%

Max Drawdown (10Y)

Largest decline over 10 years

-35.80%

-36.58%

+0.78%

Current Drawdown

Current decline from peak

-2.98%

-4.60%

+1.62%

Average Drawdown

Average peak-to-trough decline

-6.28%

-8.83%

+2.55%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.17%

2.93%

-0.76%

Volatility

SHE vs. RPG - Volatility Comparison

The current volatility for SPDR SSGA Gender Diversity Index ETF (SHE) is 5.16%, while Invesco S&P 500 Pure Growth ETF (RPG) has a volatility of 11.10%. This indicates that SHE experiences smaller price fluctuations and is considered to be less risky than RPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SHERPGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

11.10%

-5.94%

Volatility (6M)

Calculated over the trailing 6-month period

11.03%

19.02%

-7.99%

Volatility (1Y)

Calculated over the trailing 1-year period

13.46%

22.09%

-8.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.31%

23.86%

-6.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.06%

22.90%

-4.84%

SHE vs. RPG - Expense Ratio Comparison

SHE has a 0.20% expense ratio, which is lower than RPG's 0.35% expense ratio.

Dividends

SHE vs. RPG - Dividend Comparison

SHE's dividend yield for the trailing twelve months is around 1.09%, more than RPG's 0.15% yield.

PositionTTM20252024202320222021202020192018201720162015
RPG
Invesco S&P 500 Pure Growth ETF		0.15%0.24%0.25%1.44%0.74%0.00%0.46%0.83%0.47%0.56%0.43%0.73%
SHE
SPDR SSGA Gender Diversity Index ETF		1.09%1.18%1.14%1.37%1.54%0.99%1.24%1.91%7.39%5.37%6.41%0.00%

Frequently Asked Questions

SHE and RPG 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.

RPG has higher volatility (11.10%) compared to SHE (5.16%). In terms of maximum drawdown, SHE dropped -35.80% vs RPG's -53.27%.

On 10-year performance, RPG leads with 15.14% vs 12.78% for SHE. On fees, SHE is cheaper at 0.20% per year. On volatility, SHE has been the lower-risk option at 5.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RPG has performed better with a 15.14% return vs 12.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SHE is cheaper with a 0.20% expense ratio, compared with 0.35% for RPG.

SHE has the higher dividend yield at 1.09%, compared with 0.15% for RPG.

SHE tracks SSGA Gender Diversity (TR), while RPG tracks S&P 500/Citigroup Pure Growth Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.20% for SHE and 0.35% for RPG.

SHE currently has the higher Sharpe Ratio (2.09 vs 1.75), 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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