SPHB vs. RSPG

Last updated Jun 4, 2026

SPHB (Invesco S&P 500® High Beta ETF) and RSPG (Invesco S&P 500 Equal Weight Energy ETF) are both exchange-traded funds - SPHB is a S&P 500 fund tracking the S&P 500 High Beta Index, while RSPG is a Energy Equities fund tracking the S&P 500 Equal Weight Energy Plus Index. Both are passively managed. Over the past 10 years, SPHB returned 18.92%/yr vs 9.73%/yr for RSPG. A 0.65 correlation means they provide meaningful diversification when combined. SPHB charges 0.25%/yr vs 0.40%/yr for RSPG.

Performance

SPHB vs. RSPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500® High Beta ETF (SPHB) and Invesco S&P 500 Equal Weight Energy ETF (RSPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHB achieves a 30.36% return, which is significantly lower than RSPG's 34.27% return. Over the past 10 years, SPHB has outperformed RSPG with an annualized return of 18.92%, while RSPG has yielded a comparatively lower 9.73% annualized return.

SPHB

• 1D: -0.67%
• 1M: 12.37%
• YTD: 30.36%
• 6M: 31.36%
• 1Y: 69.40%
• 3Y*: 29.63%
• 5Y*: 15.19%
• 10Y*: 18.92%

RSPG

• 1D: 1.25%
• 1M: -2.65%
• YTD: 34.27%
• 6M: 28.95%
• 1Y: 47.49%
• 3Y*: 19.93%
• 5Y*: 21.10%
• 10Y*: 9.73%

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

SPHB vs. RSPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHB Invesco S&P 500® High Beta ETF	30.36%	32.87%	8.48%	33.28%	-20.59%	40.58%	25.56%	33.96%	-15.55%	17.87%
RSPG Invesco S&P 500 Equal Weight Energy ETF	34.27%	7.01%	6.09%	4.49%	57.97%	57.73%	-32.44%	13.38%	-24.68%	-6.39%

Correlation

The correlation between SPHB and RSPG is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 6, 2011	0.65

Over the past year, the correlation between SPHB and RSPG has dropped to 0.04 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

SPHB vs. RSPG - Sectors Allocation Comparison

Sectors	SPHB	RSPG
Technology	45.8%	-
Consumer Cyclical	12.9%	-
Financial Services	12.5%	0.0%
Industrials	11.7%	-
Basic Materials	4.6%	-
Communication Services	3.7%	-
Utilities	3.2%	-
Healthcare	2.9%	-
Energy	2.2%	100.0%
Consumer Defensive	0.6%	-
Real Estate	-	-

Return for Risk

SPHB vs. RSPG — Risk / Return Rank

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

SPHB

SPHB Risk / Return Rank: 88
SPHB Sharpe Ratio Rank: 90
SPHB Sortino Ratio Rank: 84
SPHB Omega Ratio Rank: 82
SPHB Calmar Ratio Rank: 93
SPHB Martin Ratio Rank: 93

RSPG

RSPG Risk / Return Rank: 64
RSPG Sharpe Ratio Rank: 65
RSPG Sortino Ratio Rank: 58
RSPG Omega Ratio Rank: 56
RSPG Calmar Ratio Rank: 77
RSPG Martin Ratio Rank: 63

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.

SPHB vs. RSPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Beta ETF (SPHB) and Invesco S&P 500 Equal Weight Energy ETF (RSPG). 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.

	SPHB	RSPG	Difference
Sharpe ratio: Return per unit of total volatility	3.16	2.20	+0.95
Sortino ratio: Return per unit of downside risk	3.85	2.80	+1.05
Omega ratio: Gain probability vs. loss probability	1.50	1.35	+0.15
Calmar ratio: Return relative to maximum drawdown	6.52	3.92	+2.60
Martin ratio: Return relative to average drawdown	25.92	11.59	+14.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPHB vs. RSPG - Sharpe Ratio Comparison

The current SPHB Sharpe Ratio is 3.16, which is higher than the RSPG Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of SPHB and RSPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPHB	RSPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	2.20	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.75	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.29	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.18	+0.35

Drawdowns

SPHB vs. RSPG - Drawdown Comparison

The maximum SPHB drawdown since its inception was -46.84%, smaller than the maximum RSPG drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for SPHB and RSPG.

Drawdown Indicators

	SPHB	RSPG	Difference
Max Drawdown Largest peak-to-trough decline	-46.84%	-79.98%	+33.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-12.18%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-29.21%	-23.06%	-6.15%
Max Drawdown (5Y) Largest decline over 5 years	-31.49%	-28.44%	-3.05%
Max Drawdown (10Y) Largest decline over 10 years	-46.84%	-73.17%	+26.33%
Current Drawdown Current decline from peak	-0.67%	-5.67%	+5.00%
Average Drawdown Average peak-to-trough decline	-8.50%	-25.47%	+16.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	4.11%	-1.42%

Volatility

SPHB vs. RSPG - Volatility Comparison

The current volatility for Invesco S&P 500® High Beta ETF (SPHB) is 7.14%, while Invesco S&P 500 Equal Weight Energy ETF (RSPG) has a volatility of 8.19%. This indicates that SPHB experiences smaller price fluctuations and is considered to be less risky than RSPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHB	RSPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	8.19%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	16.99%	16.77%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	22.16%	21.69%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.38%	28.31%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.45%	33.57%	-5.12%

SPHB vs. RSPG - Expense Ratio Comparison

SPHB has a 0.25% expense ratio, which is lower than RSPG's 0.40% expense ratio.

Dividends

SPHB vs. RSPG - Dividend Comparison

SPHB's dividend yield for the trailing twelve months is around 0.52%, less than RSPG's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPG Invesco S&P 500 Equal Weight Energy ETF	1.94%	2.60%	2.43%	2.84%	3.43%	2.37%	3.15%	2.15%	2.18%	2.55%	1.14%	2.80%
SPHB Invesco S&P 500® High Beta ETF	0.52%	0.60%	0.80%	0.73%	0.72%	0.91%	1.90%	1.26%	1.96%	1.34%	0.93%	1.69%

Frequently Asked Questions

Can I hold both SPHB and RSPG in my portfolio?

SPHB and RSPG have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHB or RSPG?

RSPG has higher volatility (8.19%) compared to SPHB (7.14%). In terms of maximum drawdown, SPHB dropped -46.84% vs RSPG's -79.98%.

Which ETF is better, SPHB or RSPG?

On 10-year performance, SPHB leads with 18.92% vs 9.73% for RSPG. On fees, SPHB is cheaper at 0.25% per year. On volatility, SPHB has been the lower-risk option at 7.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHB or RSPG?

Over the 10-year period, SPHB has performed better with a 18.92% return vs 9.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHB or RSPG?

SPHB is cheaper with a 0.25% expense ratio, compared with 0.40% for RSPG.

Which ETF pays a higher dividend yield, SPHB or RSPG?

RSPG has the higher dividend yield at 1.94%, compared with 0.52% for SPHB.

What is the main difference between SPHB and RSPG?

SPHB is categorized as S&P 500, while RSPG is Energy Equities. SPHB tracks S&P 500 High Beta Index, while RSPG tracks S&P 500 Equal Weight Energy Plus Index. Their fees differ too: 0.25% for SPHB and 0.40% for RSPG.

Which has better risk-adjusted returns?

SPHB currently has the higher Sharpe Ratio (3.16 vs 2.20), 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.