RSP vs VTBNX
Invesco S&P 500 Equal Weight ETF vs Vanguard Total Bond Market II Index Fund Institutional Shares
Which is better, RSP or VTBNX?
Large Cap Blend against Long Term High Quality.
VTBNX has a lower expense ratio.
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 | RSP | VTBNX |
|---|---|---|
| Expense Ratio | 0.20% | 0.02%Best |
| AUM | $96.1B | $207.3B |
| Dividend Yield | 1.46% | 4.16% |
| Holdings | 1,533 | 15,871 |
| YTD Price Return | +10.46% | -5.20% |
| 1Y Price Return | +12.49% | -5.49% |
| 3Y Price Return (annualized) | +14.47% | +0.33% |
| 5Y Price Return (annualized) | +6.96% | -3.76% |
| Volatility (annualized) | 16.0% | 6.4%Best |
| Max Drawdown | -22.5% | -20.8%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Long Term High Quality |
| Inception | Apr 24, 2003 | Feb 17, 2009 |
Not shown on this pair: $10,000 over 5 years, Top 10 Weight.
A price return is not the return of a fund that pays its income out. The coupon or distribution never appears in the price, so the return rows carry no winner here. RSP currently yields 1.46% and VTBNX 4.16%.
Volatility and max drawdown are measured over the window both funds cover: Oct 11, 2021 to Oct 8, 2026 (5 years).
RSP vs VTBNX Performance
Invesco S&P 500 Equal Weight ETF (RSP) is an ETF from Invesco (US) and Vanguard Total Bond Market II Index Fund Institutional Shares (VTBNX) is a mutual fund from Vanguard (US). Over the past year RSP's price moved +12.49% and VTBNX's -5.49%, before the income each one paid out.
Over three years, RSP compounded at +14.47% per year against +0.33% for VTBNX; over five years the annualized figures are +6.96% and -3.76% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RSP has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 6.4% for VTBNX. 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 -22.5% for RSP and -20.8% for VTBNX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
RSP charges 0.20% per year while VTBNX charges 0.02%. On a $10,000 position that is $20 vs $2 annually, a gap of $18 per year that compounds over a long holding period. On income, RSP currently yields 1.46% against 4.16% for VTBNX.
Structure and taxes
VTBNX is a mutual fund and RSP is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
At least 2.1% of RSP's money is in holdings VTBNX also owns.
Stated as a floor: for VTBNX, our book for it covers 61.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
RSP and VTBNX share little of their money.
The two holdings books were reported 77 days apart, RSP as of Sep 15, 2026 and VTBNX as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
11 positions in common, counted across the 505 positions we hold weights for in RSP and 12,623 in VTBNX, against full books of 1,533 and 15,871.
Top Shared Holdings
| Stock | Weight in RSP | Weight in VTBNX | Difference |
|---|---|---|---|
| TRVThe Travelers Cos, Inc. | 0.24% | 0.00% | 0.24% |
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | 0.19% | 0.04% | 0.15% |
| TAT&T Inc | 0.22% | 0.00% | 0.22% |
| DUKDuke Energy Corp | 0.19% | 0.01% | 0.18% |
| LYBLyondellbasell-a | 0.19% | 0.00% | 0.19% |
| HUBBHubbell Inc | 0.19% | 0.00% | 0.19% |
| KDPKeurig Dr Pepper Inc (kdp Us) | 0.19% | 0.00% | 0.19% |
| PPLPpl Corp (Utilities) | 0.19% | 0.00% | 0.19% |
| LRCXLam Research Corp | 0.18% | 0.00% | 0.18% |
| CNPCenterpoint Energy Inc. | 0.18% | 0.00% | 0.18% |
You are not choosing between two funds in isolation.
Whichever of RSP and VTBNX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RSP or VTBNX?
RSP has an expense ratio of 0.20% while VTBNX charges 0.02%. VTBNX is the cheaper option, by $18 a year on a $10,000 investment.
Which is riskier, RSP or VTBNX?
RSP has been the more volatile fund at 16.0% annualized versus 6.4% for VTBNX. Worst drawdown: RSP -22.5% vs VTBNX -20.8%.
Should I hold both RSP and VTBNX?
RSP and VTBNX have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between RSP and VTBNX?
At least 2.1% of RSP's money is in holdings VTBNX also owns. Our book for VTBNX is partial, so the real figure is this or higher. They hold 11 positions in common, counted across the 505 positions we hold weights for in RSP and 12,623 in VTBNX.
Which pays a higher dividend, RSP or VTBNX?
RSP yields 1.46% while VTBNX yields 4.16%, so VTBNX currently pays the higher dividend yield.
Is it better to hold VTBNX or RSP in a taxable account?
RSP is an ETF and VTBNX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VTBNX better than RSP?
VTBNX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.