XLG vs. RSP

Last updated Jun 24, 2026

XLG (Invesco S&P 500 Top 50 ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both S&P 500 funds from Invesco - XLG tracks the S&P 500 Top 50 Index while RSP tracks the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, XLG returned 16.94%/yr vs 12.23%/yr for RSP. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

XLG vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) 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, XLG achieves a 1.60% return, which is significantly lower than RSP's 9.94% return. Over the past 10 years, XLG has outperformed RSP with an annualized return of 16.94%, while RSP has yielded a comparatively lower 12.23% annualized return.

XLG

• 1D: -1.88%
• 1M: -5.41%
• YTD: 1.60%
• 6M: 0.73%
• 1Y: 19.95%
• 3Y*: 21.35%
• 5Y*: 14.28%
• 10Y*: 16.94%

RSP

• 1D: -0.34%
• 1M: 1.51%
• YTD: 9.94%
• 6M: 9.07%
• 1Y: 18.97%
• 3Y*: 14.87%
• 5Y*: 8.63%
• 10Y*: 12.23%

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

XLG vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLG Invesco S&P 500 Top 50 ETF	1.60%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-3.59%	23.04%
RSP Invesco S&P 500 Equal Weight ETF	9.94%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between XLG and RSP is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 10, 2005	0.83

Over the past year, the correlation between XLG and RSP has dropped to 0.50 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

XLG vs. RSP - Sectors Allocation Comparison

Sectors	XLG	RSP
Technology	46.8%	20.9%
Communication Services	16.0%	3.9%
Consumer Cyclical	11.2%	10.0%
Financial Services	9.0%	13.9%
Healthcare	7.0%	11.1%
Consumer Defensive	5.2%	6.4%
Energy	2.4%	4.0%
Industrials	1.9%	14.2%
Basic Materials	0.6%	3.9%
Real Estate	-	6.1%
Utilities	-	5.7%

Return for Risk

XLG vs. RSP — Risk / Return Rank

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

XLG

XLG Risk / Return Rank: 39
XLG Sharpe Ratio Rank: 42
XLG Sortino Ratio Rank: 40
XLG Omega Ratio Rank: 41
XLG Calmar Ratio Rank: 33
XLG Martin Ratio Rank: 38

RSP

RSP Risk / Return Rank: 49
RSP Sharpe Ratio Rank: 48
RSP Sortino Ratio Rank: 49
RSP Omega Ratio Rank: 45
RSP Calmar Ratio Rank: 51
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.

XLG vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) 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.

	XLG	RSP	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.62	-0.18
Sortino ratio: Return per unit of downside risk	1.98	2.34	-0.36
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.61	2.43	-0.81
Martin ratio: Return relative to average drawdown	5.77	9.17	-3.39

XLG vs. RSP - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 1.44, which is comparable to the RSP Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of XLG 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

XLG vs. RSP - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for XLG and RSP.

Drawdown Indicators

	XLG	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-59.92%	+7.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-7.85%	-4.56%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-17.81%	-2.89%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-21.38%	-6.64%
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	-39.04%	+8.58%
Current Drawdown Current decline from peak	-6.91%	-1.49%	-5.42%
Average Drawdown Average peak-to-trough decline	-7.63%	-6.64%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.07%	+1.39%

Volatility

XLG vs. RSP - Volatility Comparison

Invesco S&P 500 Top 50 ETF (XLG) has a higher volatility of 5.04% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.63%. This indicates that XLG'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

	XLG	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	3.63%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	8.68%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	11.82%	+2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	16.20%	+2.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	18.33%	+0.55%

XLG vs. RSP - Expense Ratio Comparison

Both XLG and RSP have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XLG vs. RSP - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.66%, less than RSP's 1.53% 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%
XLG Invesco S&P 500 Top 50 ETF	0.66%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both XLG and RSP in my portfolio?

XLG and RSP have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLG or RSP?

XLG has higher volatility (5.04%) compared to RSP (3.63%). In terms of maximum drawdown, XLG dropped -52.39% vs RSP's -59.92%.

Which ETF is better, XLG or RSP?

On 10-year performance, XLG leads with 16.94% vs 12.23% for RSP. Both ETFs have the same 0.20% expense ratio. On volatility, RSP has been the lower-risk option at 3.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or RSP?

Over the 10-year period, XLG has performed better with a 16.94% return vs 12.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or RSP?

XLG and RSP have the same expense ratio: 0.20% per year.

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

RSP has the higher dividend yield at 1.53%, compared with 0.66% for XLG.

What is the main difference between XLG and RSP?

XLG tracks S&P 500 Top 50 Index, while RSP tracks S&P 500 Equal Weight Index.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.62 vs 1.44), 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.