URSP vs. RSP

Last updated Jun 23, 2026

URSP (ProShares Ultra S&P 500 Equal Weight ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - URSP is a Leveraged Equities fund tracking the S&P 500 Equal Weight Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. URSP charges 0.95%/yr vs 0.20%/yr for RSP.

Performance

URSP vs. RSP - Performance Comparison

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

Returns By Period

In the year-to-date period, URSP achieves a 17.43% return, which is significantly higher than RSP's 10.32% return.

URSP

• 1D: 0.16%
• 1M: 3.15%
• YTD: 17.43%
• 6M: 14.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSP

• 1D: 0.22%
• 1M: 1.86%
• YTD: 10.32%
• 6M: 9.19%
• 1Y: 20.44%
• 3Y*: 15.00%
• 5Y*: 8.85%
• 10Y*: 12.27%

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

URSP vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025
URSP ProShares Ultra S&P 500 Equal Weight ETF	17.43%	1.59%
RSP Invesco S&P 500 Equal Weight ETF	10.32%	2.65%

Correlation

The correlation between URSP and RSP is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 27, 2025	0.98

Return for Risk

URSP vs. RSP — Risk / Return Rank

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

URSP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

RSP

RSP Risk / Return Rank: 53
RSP Sharpe Ratio Rank: 53
RSP Sortino Ratio Rank: 53
RSP Omega Ratio Rank: 49
RSP Calmar Ratio Rank: 54
RSP Martin Ratio Rank: 58

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.

URSP vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.

	URSP	RSP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.74	—
Sortino ratio: Return per unit of downside risk	—	2.50	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.61	—
Martin ratio: Return relative to average drawdown	—	9.88	—

Drawdowns

URSP vs. RSP - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for URSP and RSP.

Drawdown Indicators

	URSP	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-59.92%	+44.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	-2.29%	-1.15%	-1.14%
Average Drawdown Average peak-to-trough decline	-3.09%	-6.64%	+3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.07%	—

Volatility

Volatility by Period

	URSP	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.77%	11.83%	+11.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.77%	16.20%	+7.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.77%	18.37%	+5.40%

URSP vs. RSP - Expense Ratio Comparison

URSP has a 0.95% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

URSP vs. RSP - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.58%, less than RSP's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSP Invesco S&P 500 Equal Weight ETF	1.53%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.58%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URSP and RSP in my portfolio?

With a correlation of 0.98, URSP and RSP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, URSP or RSP?

On fees, RSP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URSP or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.95% for URSP.

Which ETF pays a higher dividend yield, URSP or RSP?

RSP has the higher dividend yield at 1.87%, compared with 0.58% for URSP.

What is the main difference between URSP and RSP?

URSP is categorized as Leveraged Equities, while RSP is S&P 500. Both ETFs track S&P 500 Equal Weight Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for URSP and 0.20% for RSP.