RSP vs VO
Invesco S&P 500 Equal Weight ETF vs Vanguard Morningstar Mid-Cap ETF
Quick Verdict
VO has a lower expense ratio. RSP delivered stronger 1-year returns. RSP offers more diversification with 511 holdings.
Side-by-Side Comparison
| Metric | RSP | VO | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $100.9B | $106.6B | |
| Dividend Yield | 1.49% | 1.32% | |
| Holdings | 511 | 289 | |
| YTD Return | +14.69% | +12.95% | |
| 1Y Return | +19.18% | +15.56% | |
| 3Y Return (annualized) | +15.12% | +15.95% | |
| 5Y Return (annualized) | +8.74% | +7.42% | |
| Volatility (annualized) | 16.5% | 16.9% | |
| Max Drawdown | -60.9% | -60.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 24, 2003 | Jan 26, 2004 |
RSP vs VO Performance
Invesco S&P 500 Equal Weight ETF (RSP) is a ETF from Invesco (US) and Vanguard Morningstar Mid-Cap ETF (VO) is a ETF from Vanguard (US). Over the past year RSP returned +19.18% while VO returned +15.56%. Year to date, RSP is up 14.69% versus a gain of 12.95% for VO.
Over three years, RSP compounded at +15.12% per year against +15.95% for VO; over five years the annualized figures are +8.74% and +7.42% respectively. Across the full 23-year window we track, RSP has the edge at +10.06% annualized vs +9.15%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VO has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.5% for RSP. 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 -60.9% for RSP and -60.3% for VO. 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
RSP charges 0.20% per year while VO charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, RSP currently yields 1.49% against 1.32% for VO.
Holdings Overlap
RSP and VO share 221 holdings out of 521 unique holdings combined, representing a 41.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RSP or VO?
RSP has an expense ratio of 0.20% while VO charges 0.03%. VO is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, RSP or VO?
Over the past year RSP returned +19.18% vs +15.56% for VO, so RSP leads on 1-year performance. Over the longest common window we track (23 years), RSP annualized +10.06% vs +9.15% for VO. Past performance does not guarantee future results.
Which is riskier, RSP or VO?
VO has been the more volatile fund at 16.9% annualized versus 16.5% for RSP. Worst drawdown: RSP -60.9% vs VO -60.3%.
Should I hold both RSP and VO?
RSP and VO have a monthly-return correlation of 0.98, 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 RSP and VO?
RSP and VO share 221 common holdings with a 41.3% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, RSP or VO?
RSP yields 1.49% while VO yields 1.32%, so RSP currently pays the higher dividend yield.
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