RPG vs SPY
Invesco S&P 500 Pure Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RPG or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. RPG led over 1Y, 3Y and the full window, SPY over 5Y. The two have moved almost in lockstep, correlation 0.92. RPG is less concentrated, with 30.9% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RPG | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $1.9B | $804.7B |
| Dividend Yield | 0.16% | 0.98% |
| Holdings | 68 | 505 |
| YTD Return | +21.48%Best | +12.09% |
| 1Y Return | +20.09%Best | +16.29% |
| 3Y Return (annualized) | +23.57%Best | +21.20% |
| 5Y Return (annualized) | +8.38% | +13.37%Best |
| Volatility (annualized) | 18.6% | 15.2%Best |
| Max Drawdown | -53.7%Best | -56.5% |
| $10,000 over 5 years | $14,954 | $18,728Best |
| Top 10 Weight | 30.9%Best | 37.8% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 1, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 7, 2006 to Sep 18, 2026 (20.5 years).
RPG vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.5 years both funds cover.
RPG vs SPY Performance
Invesco S&P 500 Pure Growth ETF (RPG) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RPG returned +20.09% while SPY returned +16.29%. Year to date, RPG is up 21.48% versus a gain of 12.09% for SPY.
Over three years, RPG compounded at +23.57% per year against +21.20% for SPY; over five years the annualized figures are +8.38% and +13.37% respectively. Across the full 21-year window we track, RPG has the edge at +11.11% annualized vs +9.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RPG has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.7% for RPG and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
RPG charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, RPG currently yields 0.16% against 0.98% for SPY.
Holdings Overlap
99.2% of RPG's money is in holdings SPY also owns. 38.3% of SPY's money is in holdings RPG also owns.
Most of RPG is already inside SPY. Owning both mostly buys the same companies twice.
65 positions in common, counted across the 67 positions we hold weights for in RPG and 504 in SPY, against full books of 68 and 505.
What only one of them owns
Our book lists 432 positions for SPY that do not appear in our book for RPG (61.0% of the fund), and 1 for RPG that do not appear in SPY (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in RPG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 1.73% | 8.01% | 6.28% |
| SNDKSandisk Corp/De | 8.02% | 0.35% | 7.67% |
| MSFTMicrosoft Corp | 0.77% | 5.66% | 4.89% |
| MUMicron Technology, Inc. | 3.91% | 1.60% | 2.31% |
| AVGOBroadcom Inc | 1.47% | 2.66% | 1.19% |
| GOOGLAlphabet Inc,class A | 0.89% | 2.99% | 2.10% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 2.17% | 1.40% | 0.77% |
| AMDAdvanced Micro Devices Inc | 2.41% | 1.14% | 1.27% |
| CRWDCrowdstrike Holdings Inc | 2.97% | 0.33% | 2.64% |
| LLYEli Lilly & Co. | 1.77% | 1.40% | 0.37% |
99.2% of RPG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RPG or SPY?
RPG has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, RPG or SPY?
Over the past year RPG returned +20.09% vs +16.29% for SPY, so RPG leads on 1-year performance. Over the longest common window we track (21 years), RPG annualized +11.11% vs +9.47% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RPG or SPY?
RPG has been the more volatile fund at 18.6% annualized versus 15.2% for SPY. Worst drawdown: RPG -53.7% vs SPY -56.5%.
Should I hold both RPG and SPY?
RPG and SPY have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between RPG and SPY?
99.2% of RPG's money is in holdings SPY also owns. 38.3% of SPY's is in holdings RPG also owns. They hold 65 positions in common, counted across the 67 positions we hold weights for in RPG and 504 in SPY.
Which pays a higher dividend, RPG or SPY?
RPG yields 0.16% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RPG?
SPY has a lower expense ratio. RPG led over 1Y, 3Y and the full window, SPY over 5Y. The two have moved almost in lockstep, correlation 0.92. RPG is less concentrated, with 30.9% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.