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XSHQ vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSHQ vs. RSP

Last updated Aug 4, 2026
Documentation

XSHQ (Invesco S&P SmallCap Quality ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - XSHQ is a Quality Factor fund tracking the S&P SmallCap 600 Quality Index, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 5 years, XSHQ returned 7.76%/yr vs 9.15%/yr for RSP. Their correlation of 0.81 means they have usually moved in the same direction. XSHQ charges 0.29%/yr vs 0.20%/yr for RSP.

Performance

XSHQ vs. RSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Quality ETF (XSHQ) and Invesco S&P 500 Equal Weight ETF (RSP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSHQ achieves a 16.82% return, which is significantly higher than RSP's 14.26% return.

XSHQ

1D
1.79%
1M
2.32%
6M
11.89%
YTD
16.82%
1Y
22.44%
3Y*
10.40%
5Y*
7.76%
10Y*
—
ALL TIME*
9.13%

RSP

1D
0.98%
1M
1.02%
6M
9.94%
YTD
14.26%
1Y
21.56%
3Y*
14.65%
5Y*
9.15%
10Y*
11.89%
ALL TIME*
11.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

RSP

Invesco S&P 500 Equal Weight ETF
$1.90B$1.83B$2.07B

XSHQ

Invesco S&P SmallCap Quality ETF
$7.21M$3.87M$2.29M

XSHQ vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XSHQ
Invesco S&P SmallCap Quality ETF		16.82%0.89%7.49%23.88%-15.01%23.99%11.81%17.37%-6.11%7.18%
RSP
Invesco S&P 500 Equal Weight ETF		14.26%11.21%12.79%13.70%-11.62%29.41%12.66%28.91%-7.84%10.49%

Correlation

The correlation between XSHQ and RSP is 0.81, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.81

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.87

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2017

0.81

The correlation between XSHQ and RSP has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

XSHQ vs. RSP - Sectors Allocation Comparison

Sectors
XSHQ
RSP

Financial Services

24.7%
14.8%

Technology

22.6%
16.9%

Industrials

20.5%
14.6%

Consumer Cyclical

14.4%
9.5%

Healthcare

5.8%
11.8%

Energy

4.1%
4.2%

Communication Services

2.9%
3.3%

Basic Materials

2.6%
4.6%

Consumer Defensive

2.4%
6.2%

Real Estate

1.0%
6.0%

Utilities

-

6.6%

Financial Services

XSHQ
24.7%
RSP
14.8%

Technology

XSHQ
22.6%
RSP
16.9%

Industrials

XSHQ
20.5%
RSP
14.6%

Consumer Cyclical

XSHQ
14.4%
RSP
9.5%

Healthcare

XSHQ
5.8%
RSP
11.8%

Energy

XSHQ
4.1%
RSP
4.2%

Communication Services

XSHQ
2.9%
RSP
3.3%

Basic Materials

XSHQ
2.6%
RSP
4.6%

Consumer Defensive

XSHQ
2.4%
RSP
6.2%

Real Estate

XSHQ
1.0%
RSP
6.0%

Utilities

XSHQ

-

RSP
6.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P SmallCap Quality ETF

Invesco S&P 500 Equal Weight ETF

Often compared with XSHQ:
XSHQ vs. XSVMXSHQ vs. OMFSXSHQ vs. QSMLXXSHQ vs. XMHQXSHQ vs. IJRXSHQ vs. SCHDXSHQ vs. IWM
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

XSHQ vs. RSP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XSHQ
XSHQ Risk / Return Rank: 5353
Overall Rank
XSHQ Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
XSHQ Sortino Ratio Rank: 5858
Sortino Ratio Rank
XSHQ Omega Ratio Rank: 4848
Omega Ratio Rank
XSHQ Calmar Ratio Rank: 6060
Calmar Ratio Rank
XSHQ Martin Ratio Rank: 5050
Martin Ratio Rank
RSP
RSP Risk / Return Rank: 7979
Overall Rank
RSP Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
RSP Sortino Ratio Rank: 8181
Sortino Ratio Rank
RSP Omega Ratio Rank: 7777
Omega Ratio Rank
RSP Calmar Ratio Rank: 7777
Calmar Ratio Rank
RSP Martin Ratio Rank: 8181
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XSHQ vs. RSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) 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.

XSHQRSPDifference
Sharpe ratioReturn per unit of total volatility
1.30
1.85

-0.55

Sortino ratioReturn per unit of downside risk
2.06
2.68

-0.62

Omega ratioGain probability vs. loss probability

1.23

1.33

-0.10

Calmar ratioReturn relative to maximum drawdown

2.19

2.76

-0.56

Martin ratioReturn relative to average drawdown

6.04

10.69

-4.65

XSHQ vs. RSP - Sharpe Ratio Comparison

The current XSHQ Sharpe Ratio is 1.30, which is comparable to the RSP Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of XSHQ 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.

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Drawdowns

XSHQ vs. RSP - Drawdown Comparison

The maximum XSHQ drawdown since its inception was -38.33%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for XSHQ and RSP.

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Drawdown Indicators

XSHQRSPDifference

Max Drawdown

Largest peak-to-trough decline

-38.33%

-59.92%

+21.59%

Max Drawdown (1Y)

Largest decline over 1 year

-10.27%

-7.85%

-2.42%

Max Drawdown (3Y)

Largest decline over 3 years

-27.34%

-17.81%

-9.53%

Max Drawdown (5Y)

Largest decline over 5 years

-27.34%

-21.38%

-5.96%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.04%

—

Current Drawdown

Current decline from peak

0.00%

-0.27%

+0.27%

Average Drawdown

Average peak-to-trough decline

-9.19%

-6.61%

-2.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.72%

2.02%

+1.70%

Volatility

XSHQ vs. RSP - Volatility Comparison

Invesco S&P SmallCap Quality ETF (XSHQ) has a higher volatility of 4.51% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 2.96%. This indicates that XSHQ'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.

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Volatility by Period

XSHQRSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.51%

2.96%

+1.55%

Volatility (6M)

Calculated over the trailing 6-month period

11.77%

8.63%

+3.14%

Volatility (1Y)

Calculated over the trailing 1-year period

17.31%

11.72%

+5.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.07%

16.17%

+4.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.00%

18.29%

+4.71%

XSHQ vs. RSP - Expense Ratio Comparison

XSHQ has a 0.29% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

XSHQ vs. RSP - Dividend Comparison

XSHQ's dividend yield for the trailing twelve months is around 1.16%, less than RSP's 1.48% yield.

PositionTTM20252024202320222021202020192018201720162015
RSP
Invesco S&P 500 Equal Weight ETF		1.48%1.64%1.52%1.64%1.82%1.28%1.64%1.69%2.02%1.52%1.20%1.70%
XSHQ
Invesco S&P SmallCap Quality ETF		1.16%1.48%1.18%1.15%2.02%1.25%1.24%1.11%1.16%0.60%0.00%0.00%

Frequently Asked Questions

XSHQ and RSP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XSHQ has higher volatility (4.51%) compared to RSP (2.96%). In terms of maximum drawdown, XSHQ dropped -38.33% vs RSP's -59.92%.

On 5-year performance, RSP leads with 9.15% vs 7.76% for XSHQ. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, RSP has performed better with a 9.15% return vs 7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RSP is cheaper with a 0.20% expense ratio, compared with 0.29% for XSHQ.

RSP has the higher dividend yield at 1.48%, compared with 1.16% for XSHQ.

XSHQ is categorized as Quality Factor, while RSP is S&P 500. XSHQ tracks S&P SmallCap 600 Quality Index, while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.29% for XSHQ and 0.20% for RSP.

RSP currently has the higher Sharpe Ratio (1.85 vs 1.30), 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.

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