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SPYC vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPYC vs. RSP

Last updated Aug 2, 2026
Documentation

SPYC (Simplify US Equity PLUS Convexity ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - SPYC is a Large Cap Growth Equities fund actively managed by Simplify, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. SPYC is actively managed, while RSP is passively managed. Over the past 5 years, SPYC returned 8.79%/yr vs 8.88%/yr for RSP. Their correlation of 0.81 means they have usually moved in the same direction. SPYC charges 0.28%/yr vs 0.20%/yr for RSP.

Performance

SPYC vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Convexity ETF (SPYC) 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, SPYC achieves a 6.38% return, which is significantly lower than RSP's 13.16% return.

SPYC

1D
1.02%
1M
-0.29%
6M
5.97%
YTD
6.38%
1Y
14.04%
3Y*
15.87%
5Y*
8.79%
10Y*
—
ALL TIME*
11.87%

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

SPYC

Simplify US Equity PLUS Convexity ETF
$423.35K$339.15K$529.32K

SPYC vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
SPYC
Simplify US Equity PLUS Convexity ETF		6.38%15.31%22.57%23.98%-25.65%29.26%8.23%
RSP
Invesco S&P 500 Equal Weight ETF		13.16%11.21%12.79%13.70%-11.62%29.41%15.47%

Correlation

The correlation between SPYC and RSP is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.67

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

0.75

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

0.82

Correlation (All Time)
Calculated using the full available price history since Sep 4, 2020

0.81

The correlation between SPYC and RSP shifts across timeframes, from 0.67 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

SPYC vs. RSP - Sectors Allocation Comparison

Sectors
SPYC
RSP

Technology

38.5%
16.9%

Financial Services

11.6%
14.8%

Communication Services

9.9%
3.3%

Consumer Cyclical

9.5%
9.5%

Healthcare

8.9%
11.8%

Industrials

8.4%
14.6%

Consumer Defensive

4.5%
6.2%

Energy

3.0%
4.2%

Utilities

2.2%
6.6%

Real Estate

1.8%
6.0%

Basic Materials

1.7%
4.6%

Technology

SPYC
38.5%
RSP
16.9%

Financial Services

SPYC
11.6%
RSP
14.8%

Communication Services

SPYC
9.9%
RSP
3.3%

Consumer Cyclical

SPYC
9.5%
RSP
9.5%

Healthcare

SPYC
8.9%
RSP
11.8%

Industrials

SPYC
8.4%
RSP
14.6%

Consumer Defensive

SPYC
4.5%
RSP
6.2%

Energy

SPYC
3.0%
RSP
4.2%

Utilities

SPYC
2.2%
RSP
6.6%

Real Estate

SPYC
1.8%
RSP
6.0%

Basic Materials

SPYC
1.7%
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.

Simplify US Equity PLUS Convexity ETF

Invesco S&P 500 Equal Weight ETF

Often compared with SPYC:
SPYC vs. SPYSPYC vs. QQQMSPYC vs. SPYDSPYC vs. VOOSPYC vs. BUFFSPYC vs. SPYVSPYC vs. SVOL
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

SPYC vs. RSP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPYC
SPYC Risk / Return Rank: 3131
Overall Rank
SPYC Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
SPYC Sortino Ratio Rank: 3232
Sortino Ratio Rank
SPYC Omega Ratio Rank: 3030
Omega Ratio Rank
SPYC Calmar Ratio Rank: 2828
Calmar Ratio Rank
SPYC Martin Ratio Rank: 3131
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.

SPYC vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Convexity ETF (SPYC) 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.

SPYCRSPDifference
Sharpe ratioReturn per unit of total volatility
0.79
1.63

-0.84

Sortino ratioReturn per unit of downside risk
1.22
2.38

-1.15

Omega ratioGain probability vs. loss probability

1.14

1.29

-0.14

Calmar ratioReturn relative to maximum drawdown

0.92

2.43

-1.52

Martin ratioReturn relative to average drawdown

2.80

9.43

-6.63

SPYC vs. RSP - Sharpe Ratio Comparison

The current SPYC Sharpe Ratio is 0.79, which is lower than the RSP Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of SPYC 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

SPYC vs. RSP - Drawdown Comparison

The maximum SPYC drawdown since its inception was -28.51%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for SPYC and RSP.

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Drawdown Indicators

SPYCRSPDifference

Max Drawdown

Largest peak-to-trough decline

-28.51%

-59.92%

+31.41%

Max Drawdown (1Y)

Largest decline over 1 year

-13.47%

-7.85%

-5.62%

Max Drawdown (3Y)

Largest decline over 3 years

-22.81%

-17.81%

-5.00%

Max Drawdown (5Y)

Largest decline over 5 years

-28.51%

-21.38%

-7.13%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.04%

—

Current Drawdown

Current decline from peak

-2.17%

-1.23%

-0.94%

Average Drawdown

Average peak-to-trough decline

-8.09%

-6.61%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.40%

2.02%

+2.38%

Volatility

SPYC vs. RSP - Volatility Comparison

Simplify US Equity PLUS Convexity ETF (SPYC) has a higher volatility of 4.47% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.88%. This indicates that SPYC'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

SPYCRSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

2.88%

+1.59%

Volatility (6M)

Calculated over the trailing 6-month period

10.92%

8.59%

+2.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.59%

11.76%

+3.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.99%

16.16%

+3.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.59%

18.28%

+1.31%

SPYC vs. RSP - Expense Ratio Comparison

SPYC has a 0.28% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

SPYC vs. RSP - Dividend Comparison

SPYC's dividend yield for the trailing twelve months is around 0.88%, less 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%
SPYC
Simplify US Equity PLUS Convexity ETF		0.88%0.89%1.02%1.76%1.34%1.01%0.40%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SPYC and RSP have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPYC has higher volatility (4.47%) compared to RSP (2.88%). In terms of maximum drawdown, SPYC dropped -28.51% vs RSP's -59.92%.

On 5-year performance, RSP leads with 8.88% vs 8.79% for SPYC. 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, RSP has performed better with a 8.88% return vs 8.79%. 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 0.28% for SPYC.

RSP has the higher dividend yield at 1.49%, compared with 0.88% for SPYC.

SPYC is categorized as Large Cap Growth Equities, while RSP is S&P 500. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.28% for SPYC and 0.20% for RSP.

RSP currently has the higher Sharpe Ratio (1.63 vs 0.79), 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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