RPG vs SPY
RPG vs SPY
Invesco S&P 500 Pure Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. RPG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | RPG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $2.0B | $789.1B | |
| Dividend Yield | 0.14% | 1.01% | |
| Holdings | 68 | 505 | |
| YTD Return | +23.44% | +13.79% | |
| 1Y Return | +26.16% | +23.66% | |
| 3Y Return (annualized) | +23.69% | +21.40% | |
| 5Y Return (annualized) | +8.78% | +13.37% | |
| Volatility (annualized) | 18.7% | 15.3% | |
| Max Drawdown | -53.7% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 1, 2006 | Jan 22, 1993 |
RPG vs SPY Performance
Invesco S&P 500 Pure Growth ETF (RPG) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RPG returned +26.16% while SPY returned +23.66%. Year to date, RPG is up 23.44% versus a gain of 13.79% for SPY.
Over three years, RPG compounded at +23.69% per year against +21.40% for SPY; over five years the annualized figures are +8.78% and +13.37% respectively. Across the full 20-year window we track, RPG has the edge at +11.27% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RPG has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 15.3% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 0.14% against 1.01% for SPY.
Holdings Overlap
RPG and SPY share 64 holdings out of 505 unique holdings combined, representing a 20.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in RPG | Weight in SPY | Difference |
|---|---|---|---|
| SNDK | 9.61% | 0.40% | 9.21% |
| NVDA | 1.40% | 7.31% | 5.91% |
| MU | 4.27% | 1.71% | 2.56% |
| MSFT | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
| FIX | Pro | Pro | Pro |
| KLAC | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
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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. On a $10,000 investment, that is $26 per year of difference.
Which performed better, RPG or SPY?
Over the past year RPG returned +26.16% vs +23.66% for SPY, so RPG leads on 1-year performance. Over the longest common window we track (20 years), RPG annualized +11.27% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, RPG or SPY?
RPG has been the more volatile fund at 18.7% annualized versus 15.3% 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between RPG and SPY?
RPG and SPY share 64 common holdings with a 20.2% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, RPG or SPY?
RPG yields 0.14% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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