XLP vs. RSP

Last updated Jun 13, 2026

XLP (State Street Consumer Staples Select Sector SPDR ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - XLP is a Consumer Staples Equities fund tracking the Consumer Staples Select Sector Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, XLP returned 7.60%/yr vs 12.15%/yr for RSP. A 0.65 correlation means they provide meaningful diversification when combined. XLP charges 0.08%/yr vs 0.20%/yr for RSP.

Performance

XLP vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Consumer Staples Select Sector SPDR ETF (XLP) 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 XLP having a 11.10% return and RSP slightly lower at 10.96%. Over the past 10 years, XLP has underperformed RSP with an annualized return of 7.60%, while RSP has yielded a comparatively higher 12.15% annualized return.

XLP

• 1D: 0.65%
• 1M: 0.99%
• YTD: 11.10%
• 6M: 9.54%
• 1Y: 8.93%
• 3Y*: 8.26%
• 5Y*: 6.65%
• 10Y*: 7.60%

RSP

• 1D: 0.91%
• 1M: 3.92%
• YTD: 10.96%
• 6M: 10.34%
• 1Y: 21.34%
• 3Y*: 14.66%
• 5Y*: 8.59%
• 10Y*: 12.15%

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

XLP vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLP State Street Consumer Staples Select Sector SPDR ETF	11.10%	1.52%	12.20%	-0.82%	-0.81%	17.20%	10.11%	27.43%	-8.07%	12.98%
RSP Invesco S&P 500 Equal Weight ETF	10.96%	11.21%	12.79%	13.70%	-11.62%	29.41%	12.66%	28.91%	-7.84%	18.52%

Correlation

The correlation between XLP and RSP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003	0.65

Over the past year, the correlation between XLP and RSP has dropped to 0.33 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

XLP vs. RSP - Sectors Allocation Comparison

Sectors	XLP	RSP
Consumer Defensive	99.0%	6.4%
Consumer Cyclical	1.0%	10.1%
Basic Materials	-	4.1%
Communication Services	-	3.6%
Energy	-	4.2%
Financial Services	-	14.2%
Healthcare	-	10.9%
Industrials	-	14.1%
Real Estate	-	5.9%
Technology	-	20.4%
Utilities	-	5.9%

Return for Risk

XLP vs. RSP — Risk / Return Rank

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

XLP

XLP Risk / Return Rank: 19
XLP Sharpe Ratio Rank: 20
XLP Sortino Ratio Rank: 20
XLP Omega Ratio Rank: 18
XLP Calmar Ratio Rank: 20
XLP Martin Ratio Rank: 17

RSP

RSP Risk / Return Rank: 58
RSP Sharpe Ratio Rank: 57
RSP Sortino Ratio Rank: 59
RSP Omega Ratio Rank: 54
RSP Calmar Ratio Rank: 59
RSP Martin Ratio Rank: 62

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.

XLP vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Consumer Staples Select Sector SPDR ETF (XLP) 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.

	XLP	RSP	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.69	-1.09
Sortino ratio: Return per unit of downside risk	0.94	2.44	-1.51
Omega ratio: Gain probability vs. loss probability	1.11	1.29	-0.19
Calmar ratio: Return relative to maximum drawdown	0.79	2.54	-1.75
Martin ratio: Return relative to average drawdown	1.52	9.63	-8.11

XLP vs. RSP - Sharpe Ratio Comparison

The current XLP Sharpe Ratio is 0.59, which is lower than the RSP Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of XLP 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

XLP vs. RSP - Drawdown Comparison

The maximum XLP drawdown since its inception was -35.90%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for XLP and RSP.

Drawdown Indicators

	XLP	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-35.90%	-59.92%	+24.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.69%	-7.85%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-17.81%	+5.42%
Max Drawdown (5Y) Largest decline over 5 years	-16.30%	-21.38%	+5.08%
Max Drawdown (10Y) Largest decline over 10 years	-24.51%	-39.04%	+14.53%
Current Drawdown Current decline from peak	-4.12%	0.00%	-4.12%
Average Drawdown Average peak-to-trough decline	-7.06%	-6.64%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	2.07%	+2.94%

Volatility

XLP vs. RSP - Volatility Comparison

State Street Consumer Staples Select Sector SPDR ETF (XLP) has a higher volatility of 4.53% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.57%. This indicates that XLP'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

	XLP	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	3.57%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	8.59%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.90%	11.83%	+1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	16.22%	-2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	18.36%	-3.61%

XLP vs. RSP - Expense Ratio Comparison

XLP 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

XLP vs. RSP - Dividend Comparison

XLP's dividend yield for the trailing twelve months is around 2.53%, more than RSP's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RSP Invesco S&P 500 Equal Weight ETF	1.47%	1.64%	1.52%	1.64%	1.82%	1.28%	1.64%	1.69%	2.02%	1.52%	1.20%	1.70%
XLP State Street Consumer Staples Select Sector SPDR ETF	2.53%	2.75%	2.77%	2.63%	2.47%	2.28%	2.50%	2.57%	3.04%	2.62%	2.53%	2.52%

Frequently Asked Questions

Can I hold both XLP and RSP in my portfolio?

XLP and RSP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLP or RSP?

XLP has higher volatility (4.53%) compared to RSP (3.57%). In terms of maximum drawdown, XLP dropped -35.90% vs RSP's -59.92%.

Which ETF is better, XLP or RSP?

On 10-year performance, RSP leads with 12.15% vs 7.60% for XLP. On fees, XLP is cheaper at 0.08% per year. On volatility, RSP has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLP or RSP?

Over the 10-year period, RSP has performed better with a 12.15% return vs 7.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLP or RSP?

XLP is cheaper with a 0.08% expense ratio, compared with 0.20% for RSP.

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

XLP has the higher dividend yield at 2.53%, compared with 1.47% for RSP.

What is the main difference between XLP and RSP?

XLP is categorized as Consumer Staples Equities, while RSP is S&P 500. XLP tracks Consumer Staples Select Sector Index, while RSP tracks S&P 500 Equal Weight Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.08% for XLP and 0.20% for RSP.

Which has better risk-adjusted returns?

RSP currently has the higher Sharpe Ratio (1.69 vs 0.59), 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.