XMAG vs. RSP

Last updated Jun 17, 2026

XMAG (Defiance Large Cap ex-Mag 7 ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past year, XMAG returned 24.07% vs 20.48% for RSP. Their correlation of 0.91 suggests significant overlap in exposure. XMAG charges 0.35%/yr vs 0.20%/yr for RSP.

Performance

XMAG vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) 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, XMAG achieves a 13.10% return, which is significantly higher than RSP's 11.23% return.

XMAG

• 1D: -0.70%
• 1M: 5.36%
• YTD: 13.10%
• 6M: 13.89%
• 1Y: 24.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSP

• 1D: -0.33%
• 1M: 5.26%
• YTD: 11.23%
• 6M: 11.25%
• 1Y: 20.48%
• 3Y*: 14.42%
• 5Y*: 9.07%
• 10Y*: 12.14%

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

XMAG vs. RSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	13.10%	15.63%	-1.52%
RSP Invesco S&P 500 Equal Weight ETF	11.23%	11.21%	-2.48%

Correlation

The correlation between XMAG and RSP is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.91

The correlation between XMAG and RSP has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

XMAG vs. RSP - Sectors Allocation Comparison

Sectors	XMAG	RSP
Technology	27.9%	20.9%
Financial Services	16.7%	13.9%
Healthcare	13.1%	11.1%
Industrials	11.8%	14.2%
Consumer Defensive	6.9%	6.4%
Consumer Cyclical	5.7%	10.0%
Energy	5.1%	4.0%
Utilities	3.7%	5.7%
Communication Services	3.4%	3.9%
Real Estate	2.8%	6.1%
Basic Materials	2.5%	3.9%

Return for Risk

XMAG vs. RSP — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 69
XMAG Sharpe Ratio Rank: 66
XMAG Sortino Ratio Rank: 68
XMAG Omega Ratio Rank: 63
XMAG Calmar Ratio Rank: 68
XMAG Martin Ratio Rank: 78

RSP

RSP Risk / Return Rank: 54
RSP Sharpe Ratio Rank: 53
RSP Sortino Ratio Rank: 54
RSP Omega Ratio Rank: 50
RSP Calmar Ratio Rank: 54
RSP Martin Ratio Rank: 58

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.

XMAG vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) 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.

	XMAG	RSP	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.75	+0.33
Sortino ratio: Return per unit of downside risk	2.98	2.54	+0.44
Omega ratio: Gain probability vs. loss probability	1.37	1.31	+0.06
Calmar ratio: Return relative to maximum drawdown	3.32	2.62	+0.70
Martin ratio: Return relative to average drawdown	14.61	9.94	+4.67

XMAG vs. RSP - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 2.08, which is comparable to the RSP Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of XMAG 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

XMAG vs. RSP - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for XMAG and RSP.

Drawdown Indicators

	XMAG	RSP	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-59.92%	+43.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-7.85%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.04%	—
Current Drawdown Current decline from peak	-0.70%	-0.33%	-0.37%
Average Drawdown Average peak-to-trough decline	-2.10%	-6.64%	+4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.07%	-0.42%

Volatility

XMAG vs. RSP - Volatility Comparison

Defiance Large Cap ex-Mag 7 ETF (XMAG) has a higher volatility of 4.19% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.39%. This indicates that XMAG'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

	XMAG	RSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	3.39%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	8.55%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	11.78%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	16.22%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	18.37%	-3.16%

XMAG vs. RSP - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

XMAG vs. RSP - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.45%, less 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%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.45%	0.51%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XMAG and RSP in my portfolio?

XMAG and RSP have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMAG or RSP?

XMAG has higher volatility (4.19%) compared to RSP (3.39%). In terms of maximum drawdown, XMAG dropped -16.17% vs RSP's -59.92%.

Which ETF is better, XMAG or RSP?

On 1-year performance, XMAG leads with 24.07% vs 20.48% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMAG or RSP?

Over the 1-year period, XMAG has performed better with a 24.07% return vs 20.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMAG or RSP?

RSP is cheaper with a 0.20% expense ratio, compared with 0.35% for XMAG.

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

RSP has the higher dividend yield at 1.47%, compared with 0.45% for XMAG.

What is the main difference between XMAG and RSP?

XMAG is categorized as Large Cap Blend Equities, while RSP is S&P 500. XMAG tracks BITA US 500 ex Magnificent 7 Index, while RSP tracks S&P 500 Equal Weight Index. They also come from different issuers: Defiance and Invesco. Their fees differ too: 0.35% for XMAG and 0.20% for RSP.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (2.08 vs 1.75), 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.