VSPGX vs. RSP

Last updated Jun 4, 2026

VSPGX (Vanguard S&P 500 Growth Index Fund Institutional Shares) and RSP (Invesco S&P 500 Equal Weight ETF) are both funds - VSPGX is a Large Cap Growth Equities fund managed by Vanguard, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 5 years, VSPGX returned 16.55%/yr vs 8.33%/yr for RSP. A 0.74 correlation means they provide meaningful diversification when combined. VSPGX charges 0.08%/yr vs 0.20%/yr for RSP.

Performance

VSPGX vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) 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, VSPGX achieves a 14.87% return, which is significantly higher than RSP's 9.70% return.

VSPGX

• 1D: -0.16%
• 1M: 8.46%
• YTD: 14.87%
• 6M: 14.68%
• 1Y: 35.30%
• 3Y*: 28.49%
• 5Y*: 16.55%
• 10Y*: —

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)

VSPGX vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSPGX Vanguard S&P 500 Growth Index Fund Institutional Shares	14.87%	21.91%	35.48%	30.38%	-29.46%	31.88%	33.34%	31.06%	-0.05%	23.40%
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%	16.47%

Correlation

The correlation between VSPGX and RSP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.74

Over the past year, the correlation between VSPGX and RSP has dropped to 0.53 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

VSPGX vs. RSP — Risk / Return Rank

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

VSPGX

VSPGX Risk / Return Rank: 53
VSPGX Sharpe Ratio Rank: 60
VSPGX Sortino Ratio Rank: 53
VSPGX Omega Ratio Rank: 50
VSPGX Calmar Ratio Rank: 49
VSPGX Martin Ratio Rank: 54

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.

VSPGX vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) 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.

	VSPGX	RSP	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.70	+0.58
Sortino ratio: Return per unit of downside risk	3.05	2.47	+0.58
Omega ratio: Gain probability vs. loss probability	1.39	1.30	+0.09
Calmar ratio: Return relative to maximum drawdown	2.66	2.49	+0.16
Martin ratio: Return relative to average drawdown	11.05	9.48	+1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSPGX vs. RSP - Sharpe Ratio Comparison

The current VSPGX Sharpe Ratio is 2.28, which is higher than the RSP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VSPGX 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

	VSPGX	RSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.70	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.52	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.57	+0.32

Drawdowns

VSPGX vs. RSP - Drawdown Comparison

The maximum VSPGX drawdown since its inception was -32.73%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for VSPGX and RSP.

Drawdown Indicators

	VSPGX	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-59.92%	+27.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-7.85%	-5.83%
Max Drawdown (3Y) Largest decline over 3 years	-22.34%	-17.81%	-4.53%
Max Drawdown (5Y) Largest decline over 5 years	-32.73%	-21.38%	-11.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	-0.16%	-0.38%	+0.22%
Average Drawdown Average peak-to-trough decline	-6.78%	-6.65%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	2.06%	+1.22%

Volatility

VSPGX vs. RSP - Volatility Comparison

Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) has a higher volatility of 4.20% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.56%. This indicates that VSPGX'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

	VSPGX	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	2.56%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	8.29%	+4.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	11.56%	+4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.27%	16.18%	+5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.35%	18.35%	+3.00%

VSPGX vs. RSP - Expense Ratio Comparison

VSPGX has a 0.08% expense ratio, which is lower than RSP's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VSPGX vs. RSP - Dividend Comparison

VSPGX's dividend yield for the trailing twelve months is around 0.45%, less 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%
VSPGX Vanguard S&P 500 Growth Index Fund Institutional Shares	0.45%	0.38%	0.50%	1.14%	0.95%	0.55%	0.89%	0.68%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSPGX and RSP in my portfolio?

VSPGX and RSP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSPGX or RSP?

VSPGX has higher volatility (4.20%) compared to RSP (2.56%). In terms of maximum drawdown, VSPGX dropped -32.73% vs RSP's -59.92%.

Which has better risk-adjusted returns?

VSPGX currently has the higher Sharpe Ratio (2.28 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.