USMF vs. RSP

Last updated Jun 16, 2026

USMF (WisdomTree US Multifactor Fund) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - USMF is a Mid Cap Blend Equities fund tracking the WisdomTree US Multifactor 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, USMF returned 8.31%/yr vs 8.93%/yr for RSP. Their correlation of 0.90 suggests significant overlap in exposure. USMF charges 0.28%/yr vs 0.20%/yr for RSP.

Performance

USMF vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US Multifactor Fund (USMF) 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, USMF achieves a 6.65% return, which is significantly lower than RSP's 11.61% return.

USMF

• 1D: 1.25%
• 1M: 5.30%
• YTD: 6.65%
• 6M: 6.40%
• 1Y: 9.68%
• 3Y*: 13.99%
• 5Y*: 8.31%
• 10Y*: —

RSP

• 1D: 0.58%
• 1M: 5.62%
• YTD: 11.61%
• 6M: 10.84%
• 1Y: 22.05%
• 3Y*: 14.55%
• 5Y*: 8.93%
• 10Y*: 12.18%

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

USMF vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USMF WisdomTree US Multifactor Fund	6.65%	4.60%	19.65%	13.47%	-8.82%	21.26%	12.01%	24.06%	-4.72%	11.27%
RSP Invesco S&P 500 Equal Weight ETF	11.61%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	10.49%

Correlation

The correlation between USMF and RSP is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.90

The correlation between USMF and RSP has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

USMF vs. RSP - Sectors Allocation Comparison

Sectors	USMF	RSP
Technology	33.2%	20.9%
Financial Services	10.7%	13.9%
Consumer Cyclical	10.5%	10.0%
Communication Services	9.8%	3.9%
Healthcare	9.0%	11.1%
Industrials	8.2%	14.2%
Energy	4.8%	4.0%
Consumer Defensive	4.3%	6.4%
Real Estate	2.0%	6.1%
Utilities	1.9%	5.7%
Basic Materials	0.9%	3.9%

Return for Risk

USMF vs. RSP — Risk / Return Rank

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

USMF

USMF Risk / Return Rank: 28
USMF Sharpe Ratio Rank: 26
USMF Sortino Ratio Rank: 25
USMF Omega Ratio Rank: 24
USMF Calmar Ratio Rank: 32
USMF Martin Ratio Rank: 32

RSP

RSP Risk / Return Rank: 63
RSP Sharpe Ratio Rank: 64
RSP Sortino Ratio Rank: 66
RSP Omega Ratio Rank: 60
RSP Calmar Ratio Rank: 62
RSP Martin Ratio Rank: 65

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.

USMF vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US Multifactor Fund (USMF) 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.

	USMF	RSP	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.88	-1.02
Sortino ratio: Return per unit of downside risk	1.29	2.71	-1.41
Omega ratio: Gain probability vs. loss probability	1.15	1.33	-0.18
Calmar ratio: Return relative to maximum drawdown	1.50	2.82	-1.32
Martin ratio: Return relative to average drawdown	4.47	10.69	-6.22

USMF vs. RSP - Sharpe Ratio Comparison

The current USMF Sharpe Ratio is 0.86, which is lower than the RSP Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of USMF 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.

Drawdowns

USMF vs. RSP - Drawdown Comparison

The maximum USMF drawdown since its inception was -36.24%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for USMF and RSP.

Drawdown Indicators

	USMF	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-36.24%	-59.92%	+23.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-7.85%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-15.39%	-17.81%	+2.42%
Max Drawdown (5Y) Largest decline over 5 years	-18.10%	-21.38%	+3.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.15%	-6.64%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	2.07%	+0.10%

Volatility

USMF vs. RSP - Volatility Comparison

WisdomTree US Multifactor Fund (USMF) has a higher volatility of 4.10% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.59%. This indicates that USMF'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.

Volatility by Period

	USMF	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	3.59%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	8.58%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.31%	11.79%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	16.23%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	18.37%	-1.40%

USMF vs. RSP - Expense Ratio Comparison

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

Dividends

USMF vs. RSP - Dividend Comparison

USMF's dividend yield for the trailing twelve months is around 1.29%, less than RSP's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSP Invesco S&P 500 Equal Weight ETF	1.46%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%
USMF WisdomTree US Multifactor Fund	1.29%	1.37%	1.22%	1.33%	1.74%	1.42%	1.34%	1.38%	1.45%	0.67%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USMF and RSP in my portfolio?

USMF and RSP have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USMF or RSP?

USMF has higher volatility (4.10%) compared to RSP (3.59%). In terms of maximum drawdown, USMF dropped -36.24% vs RSP's -59.92%.

Which ETF is better, USMF or RSP?

On 5-year performance, RSP leads with 8.93% vs 8.31% for USMF. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USMF or RSP?

Over the 5-year period, RSP has performed better with a 8.93% return vs 8.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USMF or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.28% for USMF.

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

RSP has the higher dividend yield at 1.46%, compared with 1.29% for USMF.

What is the main difference between USMF and RSP?

USMF is categorized as Mid Cap Blend Equities, while RSP is S&P 500. USMF tracks WisdomTree US Multifactor Index, while RSP tracks S&P 500 Equal Weight Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.28% for USMF and 0.20% for RSP.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.88 vs 0.86), 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.