VADAX vs. RSP

Last updated Jun 4, 2026

VADAX (Invesco Equally-Weighted S&P 500 Fund Class A) and RSP (Invesco S&P 500 Equal Weight ETF) are both funds - VADAX is a Large Cap Blend Equities fund managed by Invesco, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 10 years, VADAX returned 11.40%/yr vs 11.86%/yr for RSP. With a 0.99 correlation, they move nearly in lockstep. VADAX charges 0.52%/yr vs 0.20%/yr for RSP.

Performance

VADAX vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VADAX having a 9.93% return and RSP slightly lower at 9.70%. Both investments have delivered pretty close results over the past 10 years, with VADAX having a 11.40% annualized return and RSP not far ahead at 11.86%.

VADAX

• 1D: 0.34%
• 1M: 4.12%
• YTD: 9.93%
• 6M: 10.39%
• 1Y: 19.53%
• 3Y*: 14.98%
• 5Y*: 8.13%
• 10Y*: 11.40%

RSP

• 1D: -0.38%
• 1M: 3.77%
• YTD: 9.70%
• 6M: 10.18%
• 1Y: 19.50%
• 3Y*: 15.23%
• 5Y*: 8.33%
• 10Y*: 11.86%

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

VADAX vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.93%	10.89%	12.40%	13.29%	-12.07%	28.93%	12.30%	28.59%	-8.19%	18.26%
RSP Invesco S&P 500 Equal Weight ETF	9.70%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between VADAX and RSP is 1.00 - 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 (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 1, 2003	0.99

The correlation between VADAX and RSP has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

VADAX vs. RSP — Risk / Return Rank

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

VADAX

VADAX Risk / Return Rank: 41
VADAX Sharpe Ratio Rank: 38
VADAX Sortino Ratio Rank: 38
VADAX Omega Ratio Rank: 35
VADAX Calmar Ratio Rank: 47
VADAX Martin Ratio Rank: 48

RSP

RSP Risk / Return Rank: 49
RSP Sharpe Ratio Rank: 48
RSP Sortino Ratio Rank: 49
RSP Omega Ratio Rank: 46
RSP Calmar Ratio Rank: 50
RSP Martin Ratio Rank: 54

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.

VADAX vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) 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.

	VADAX	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.70	+0.08
Sortino ratio: Return per unit of downside risk	2.58	2.47	+0.11
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.62	2.49	+0.13
Martin ratio: Return relative to average drawdown	9.91	9.48	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VADAX vs. RSP - Sharpe Ratio Comparison

The current VADAX Sharpe Ratio is 1.78, which is comparable to the RSP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VADAX 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.

Sharpe Ratios by Period

	VADAX	RSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.70	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.52	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.65	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.57	-0.10

Drawdowns

VADAX vs. RSP - Drawdown Comparison

The maximum VADAX drawdown since its inception was -60.27%, roughly equal to the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for VADAX and RSP.

Drawdown Indicators

	VADAX	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-60.27%	-59.92%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-7.85%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.92%	-17.81%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.74%	-21.38%	-0.36%
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	-39.04%	-0.28%
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-7.10%	-6.65%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	2.06%	+0.02%

Volatility

VADAX vs. RSP - Volatility Comparison

Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) and Invesco S&P 500 Equal Weight ETF (RSP) have volatilities of 2.66% and 2.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VADAX	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	2.56%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	8.29%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	11.56%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	16.18%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	18.35%	+0.18%

VADAX vs. RSP - Expense Ratio Comparison

VADAX has a 0.52% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

VADAX vs. RSP - Dividend Comparison

VADAX's dividend yield for the trailing twelve months is around 9.29%, more than RSP's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.29%	10.21%	8.77%	4.69%	8.49%	9.80%	6.21%	4.49%	6.90%	2.76%	0.30%	2.77%

Frequently Asked Questions

Can I hold both VADAX and RSP in my portfolio?

With a correlation of 1.00, VADAX 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 is riskier, VADAX or RSP?

VADAX has higher volatility (2.66%) compared to RSP (2.56%). In terms of maximum drawdown, VADAX dropped -60.27% vs RSP's -59.92%.

Which has better risk-adjusted returns?

VADAX currently has the higher Sharpe Ratio (1.78 vs 1.70), 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.