SPXU vs. RSPG

Last updated Jul 17, 2026

SPXU (ProShares UltraPro Short S&P500) and RSPG (Invesco S&P 500 Equal Weight Energy ETF) are both exchange-traded funds - SPXU is a S&P 500 fund tracking the S&P 500 Index (-300%), 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, SPXU returned -41.20%/yr vs 8.97%/yr for RSPG. At a correlation of -0.54, they often move in opposite directions. SPXU charges 0.90%/yr vs 0.40%/yr for RSPG.

Performance

SPXU vs. RSPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short S&P500 (SPXU) 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, SPXU achieves a -25.00% return, which is significantly lower than RSPG's 31.41% return. Over the past 10 years, SPXU has underperformed RSPG with an annualized return of -41.20%, while RSPG has yielded a comparatively higher 8.97% annualized return.

SPXU

• 1D: 1.61%
• 1M: -0.30%
• 6M: -21.86%
• YTD: -25.00%
• 1Y: -41.21%
• 3Y*: -39.91%
• 5Y*: -33.74%
• 10Y*: -41.20%

RSPG

• 1D: 0.76%
• 1M: 4.16%
• 6M: 25.06%
• YTD: 31.41%
• 1Y: 41.95%
• 3Y*: 16.82%
• 5Y*: 24.31%
• 10Y*: 8.97%

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

SPXU vs. RSPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXU ProShares UltraPro Short S&P500	-25.00%	-41.73%	-43.31%	-46.02%	36.05%	-57.94%	-70.39%	-56.27%	3.97%	-44.23%
RSPG Invesco S&P 500 Equal Weight Energy ETF	31.41%	7.01%	6.09%	4.49%	57.97%	57.73%	-32.44%	13.38%	-24.68%	-6.39%

Correlation

The correlation between SPXU and RSPG is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.19
Correlation (5Y) Calculated over the trailing 5-year period	-0.33
Correlation (10Y) Calculated over the trailing 10-year period	-0.43
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009	-0.54

The correlation between SPXU and RSPG shifts across timeframes, from -0.54 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.

SPXU vs. RSPG - Sectors Allocation Comparison

Sectors	SPXU	RSPG
Financial Services	80.4%	0.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SPXU vs. RSPG — Risk / Return Rank

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

SPXU

SPXU Risk / Return Rank: 1
SPXU Sharpe Ratio Rank: 1
SPXU Sortino Ratio Rank: 1
SPXU Omega Ratio Rank: 1
SPXU Calmar Ratio Rank: 1
SPXU Martin Ratio Rank: 0

RSPG

RSPG Risk / Return Rank: 68
RSPG Sharpe Ratio Rank: 76
RSPG Sortino Ratio Rank: 68
RSPG Omega Ratio Rank: 64
RSPG Calmar Ratio Rank: 75
RSPG Martin Ratio Rank: 57

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.

SPXU vs. RSPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short S&P500 (SPXU) 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.

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.

	SPXU	RSPG	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	1.92	-3.03
Sortino ratio: Return per unit of downside risk	-1.71	2.49	-4.19
Omega ratio: Gain probability vs. loss probability	0.81	1.31	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.94	3.07	-4.01
Martin ratio: Return relative to average drawdown	-1.61	7.85	-9.46

SPXU vs. RSPG - Sharpe Ratio Comparison

The current SPXU Sharpe Ratio is -1.10, which is lower than the RSPG Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SPXU 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.

Drawdowns

SPXU vs. RSPG - Drawdown Comparison

The maximum SPXU drawdown since its inception was -99.99%, which is greater than RSPG's maximum drawdown of -79.98%. Use the drawdown chart below to compare losses from any high point for SPXU and RSPG.

Drawdown Indicators

	SPXU	RSPG	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-79.98%	-20.01%
Max Drawdown (1Y) Largest decline over 1 year	-43.83%	-13.72%	-30.11%
Max Drawdown (3Y) Largest decline over 3 years	-84.36%	-23.06%	-61.30%
Max Drawdown (5Y) Largest decline over 5 years	-90.23%	-28.44%	-61.79%
Max Drawdown (10Y) Largest decline over 10 years	-99.56%	-73.17%	-26.39%
Current Drawdown Current decline from peak	-99.99%	-7.68%	-92.31%
Average Drawdown Average peak-to-trough decline	-93.36%	-25.37%	-67.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.60%	5.36%	+20.24%

Volatility

SPXU vs. RSPG - Volatility Comparison

ProShares UltraPro Short S&P500 (SPXU) has a higher volatility of 10.37% compared to Invesco S&P 500 Equal Weight Energy ETF (RSPG) at 6.06%. This indicates that SPXU's price experiences larger fluctuations and is considered to be riskier than RSPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXU	RSPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	6.06%	+4.31%
Volatility (6M) Calculated over the trailing 6-month period	30.00%	16.85%	+13.15%
Volatility (1Y) Calculated over the trailing 1-year period	37.51%	21.94%	+15.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.67%	28.05%	+22.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.33%	33.46%	+19.87%

SPXU vs. RSPG - Expense Ratio Comparison

SPXU has a 0.90% expense ratio, which is higher than RSPG's 0.40% expense ratio.

Dividends

SPXU vs. RSPG - Dividend Comparison

SPXU's dividend yield for the trailing twelve months is around 6.92%, more than RSPG's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSPG Invesco S&P 500 Equal Weight Energy ETF	2.02%	2.60%	2.43%	2.84%	3.43%	2.37%	3.15%	2.15%	2.18%	2.55%	1.14%	2.80%
SPXU ProShares UltraPro Short S&P500	6.92%	7.02%	9.53%	7.06%	0.39%	0.00%	0.70%	2.14%	1.41%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXU and RSPG in my portfolio?

SPXU and RSPG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXU or RSPG?

SPXU has higher volatility (10.37%) compared to RSPG (6.06%). In terms of maximum drawdown, SPXU dropped -99.99% vs RSPG's -79.98%.

Which ETF is better, SPXU or RSPG?

On 10-year performance, RSPG leads with 8.97% vs -41.20% for SPXU. On fees, RSPG is cheaper at 0.40% per year. On volatility, RSPG has been the lower-risk option at 6.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPXU or RSPG?

Over the 10-year period, RSPG has performed better with a 8.97% return vs -41.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPXU or RSPG?

RSPG is cheaper with a 0.40% expense ratio, compared with 0.90% for SPXU.

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

SPXU has the higher dividend yield at 6.92%, compared with 2.02% for RSPG.

What is the main difference between SPXU and RSPG?

SPXU is categorized as S&P 500, while RSPG is Energy Equities. SPXU tracks S&P 500 Index (-300%), while RSPG tracks S&P 500 Equal Weight Energy Plus Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.90% for SPXU and 0.40% for RSPG.

Which has better risk-adjusted returns?

RSPG currently has the higher Sharpe Ratio (1.92 vs -1.10), 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.