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SPDV vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPDV vs. RSP

Last updated Aug 3, 2026
Documentation

SPDV (AAM S&P 500 High Dividend Value ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend & Free Cash Flow Yield Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, SPDV returned 10.42%/yr vs 8.88%/yr for RSP. Their correlation of 0.88 means they have usually moved in the same direction. SPDV charges 0.29%/yr vs 0.20%/yr for RSP.

Performance

SPDV vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPDV achieves a 19.29% return, which is significantly higher than RSP's 13.16% return.

SPDV

1D
-0.03%
1M
4.78%
6M
13.02%
YTD
19.29%
1Y
30.26%
3Y*
15.86%
5Y*
10.42%
10Y*
—
ALL TIME*
9.72%

RSP

1D
-0.17%
1M
0.05%
6M
9.43%
YTD
13.16%
1Y
20.39%
3Y*
13.55%
5Y*
8.88%
10Y*
11.94%
ALL TIME*
11.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

RSP

Invesco S&P 500 Equal Weight ETF
$1.86B$1.85B$2.06B

SPDV

AAM S&P 500 High Dividend Value ETF
$807.83K$592.31K$401.15K

SPDV vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPDV
AAM S&P 500 High Dividend Value ETF		19.29%10.90%14.40%5.45%-2.27%29.54%-6.09%20.46%-6.59%4.64%
RSP
Invesco S&P 500 Equal Weight ETF		13.16%11.21%12.79%13.70%-11.62%29.41%12.66%28.91%-7.84%2.50%

Correlation

The correlation between SPDV and RSP is 0.80, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.80

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.88

Correlation (All Time)
Calculated using the full available price history since Nov 29, 2017

0.88

The correlation between SPDV and RSP has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

SPDV vs. RSP - Sectors Allocation Comparison

Sectors
SPDV
RSP

Consumer Cyclical

14.9%
9.5%

Technology

12.1%
16.9%

Real Estate

10.6%
6.0%

Healthcare

10.4%
11.8%

Financial Services

10.2%
14.8%

Energy

8.8%
4.2%

Industrials

8.4%
14.6%

Consumer Defensive

7.8%
6.2%

Communication Services

7.1%
3.3%

Utilities

5.7%
6.6%

Basic Materials

4.1%
4.6%

Consumer Cyclical

SPDV
14.9%
RSP
9.5%

Technology

SPDV
12.1%
RSP
16.9%

Real Estate

SPDV
10.6%
RSP
6.0%

Healthcare

SPDV
10.4%
RSP
11.8%

Financial Services

SPDV
10.2%
RSP
14.8%

Energy

SPDV
8.8%
RSP
4.2%

Industrials

SPDV
8.4%
RSP
14.6%

Consumer Defensive

SPDV
7.8%
RSP
6.2%

Communication Services

SPDV
7.1%
RSP
3.3%

Utilities

SPDV
5.7%
RSP
6.6%

Basic Materials

SPDV
4.1%
RSP
4.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

AAM S&P 500 High Dividend Value ETF

Invesco S&P 500 Equal Weight ETF

Often compared with SPDV:
SPDV vs. DIVOSPDV vs. SCHDSPDV vs. VOOSPDV vs. JEPISPDV vs. SPYSPDV vs. FDVVSPDV vs. NOBL
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

SPDV vs. RSP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPDV
SPDV Risk / Return Rank: 9292
Overall Rank
SPDV Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
SPDV Sortino Ratio Rank: 9393
Sortino Ratio Rank
SPDV Omega Ratio Rank: 9090
Omega Ratio Rank
SPDV Calmar Ratio Rank: 9494
Calmar Ratio Rank
SPDV Martin Ratio Rank: 9191
Martin Ratio Rank
RSP
RSP Risk / Return Rank: 7373
Overall Rank
RSP Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
RSP Sortino Ratio Rank: 7474
Sortino Ratio Rank
RSP Omega Ratio Rank: 6969
Omega Ratio Rank
RSP Calmar Ratio Rank: 7171
Calmar Ratio Rank
RSP Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPDV vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and Invesco S&P 500 Equal Weight ETF (RSP). 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.

SPDVRSPDifference
Sharpe ratioReturn per unit of total volatility
2.37
1.63

+0.74

Sortino ratioReturn per unit of downside risk
3.49
2.38

+1.11

Omega ratioGain probability vs. loss probability

1.42

1.29

+0.14

Calmar ratioReturn relative to maximum drawdown

5.01

2.43

+2.57

Martin ratioReturn relative to average drawdown

15.07

9.43

+5.64

SPDV vs. RSP - Sharpe Ratio Comparison

The current SPDV Sharpe Ratio is 2.37, which is higher than the RSP Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of SPDV and RSP, 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

SPDV vs. RSP - Drawdown Comparison

The maximum SPDV drawdown since its inception was -43.81%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for SPDV and RSP.

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Drawdown Indicators

SPDVRSPDifference

Max Drawdown

Largest peak-to-trough decline

-43.81%

-59.92%

+16.11%

Max Drawdown (1Y)

Largest decline over 1 year

-5.80%

-7.85%

+2.05%

Max Drawdown (3Y)

Largest decline over 3 years

-18.62%

-17.81%

-0.81%

Max Drawdown (5Y)

Largest decline over 5 years

-21.31%

-21.38%

+0.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.04%

—

Current Drawdown

Current decline from peak

-1.56%

-1.23%

-0.33%

Average Drawdown

Average peak-to-trough decline

-6.46%

-6.61%

+0.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

2.02%

-0.10%

Volatility

SPDV vs. RSP - Volatility Comparison

AAM S&P 500 High Dividend Value ETF (SPDV) has a higher volatility of 3.72% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.88%. This indicates that SPDV's price experiences larger fluctuations and is considered to be riskier than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPDVRSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.72%

2.88%

+0.84%

Volatility (6M)

Calculated over the trailing 6-month period

8.34%

8.59%

-0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

12.29%

11.76%

+0.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.15%

16.16%

-0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.20%

18.28%

+1.92%

SPDV vs. RSP - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

SPDV vs. RSP - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.23%, more than RSP's 1.49% yield.

PositionTTM20252024202320222021202020192018201720162015
RSP
Invesco S&P 500 Equal Weight ETF		1.49%1.64%1.52%1.64%1.82%1.28%1.64%1.69%2.02%1.52%1.20%1.70%
SPDV
AAM S&P 500 High Dividend Value ETF		3.23%3.85%3.54%3.95%3.73%3.08%3.90%3.54%3.63%0.28%0.00%0.00%

Frequently Asked Questions

SPDV and RSP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPDV has higher volatility (3.72%) compared to RSP (2.88%). In terms of maximum drawdown, SPDV dropped -43.81% vs RSP's -59.92%.

On 5-year performance, SPDV leads with 10.42% vs 8.88% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPDV has performed better with a 10.42% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RSP is cheaper with a 0.20% expense ratio, compared with 0.29% for SPDV.

SPDV has the higher dividend yield at 3.23%, compared with 1.49% for RSP.

SPDV is categorized as Dividend, while RSP is S&P 500. SPDV tracks S&P 500 Dividend & Free Cash Flow Yield Index, while RSP tracks S&P 500 Equal Weight Index. They also come from different issuers: Advisors Asset Management and Invesco. Their fees differ too: 0.29% for SPDV and 0.20% for RSP.

SPDV currently has the higher Sharpe Ratio (2.37 vs 1.63), 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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