RSP vs VTCIX
Invesco S&P 500 Equal Weight ETF vs Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares
Quick Verdict
VTCIX has a lower expense ratio. RSP delivered stronger 1-year returns. VTCIX offers more diversification with 836 holdings.
Side-by-Side Comparison
| Metric | RSP | VTCIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $100.1B | $5.2B | |
| Dividend Yield | 1.49% | 0.93% | |
| Holdings | 511 | 836 | |
| YTD Return | +15.88% | +12.08% | |
| 1Y Return | +21.24% | +20.64% | |
| 3Y Return (annualized) | +16.53% | +20.37% | |
| 5Y Return (annualized) | +9.22% | +11.00% | |
| Volatility (annualized) | 16.5% | 16.1% | |
| Max Drawdown | -60.9% | -26.0% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 24, 2003 | Feb 24, 1999 |
RSP vs VTCIX Performance
Invesco S&P 500 Equal Weight ETF (RSP) is a ETF from Invesco (US) and Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US). Over the past year RSP returned +21.24% while VTCIX returned +20.64%. Year to date, RSP is up 15.88% versus a gain of 12.08% for VTCIX.
Over three years, RSP compounded at +16.53% per year against +20.37% for VTCIX; over five years the annualized figures are +9.22% and +11.00% respectively. Across the full 5-year window we track, VTCIX has the edge at +11.00% annualized vs +10.12%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RSP has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 16.1% for VTCIX. 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 -26.0% for VTCIX. 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 0.91. 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 VTCIX 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 0.93% for VTCIX.
Holdings Overlap
RSP and VTCIX share 395 holdings out of 863 unique holdings combined, representing a 36.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RSP or VTCIX?
RSP has an expense ratio of 0.20% while VTCIX charges 0.03%. VTCIX is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, RSP or VTCIX?
Over the past year RSP returned +21.24% vs +20.64% for VTCIX, so RSP leads on 1-year performance. Over the longest common window we track (5 years), RSP annualized +10.12% vs +11.00% for VTCIX. Past performance does not guarantee future results.
Which is riskier, RSP or VTCIX?
RSP has been the more volatile fund at 16.5% annualized versus 16.1% for VTCIX. Worst drawdown: RSP -60.9% vs VTCIX -26.0%.
Should I hold both RSP and VTCIX?
RSP and VTCIX have a monthly-return correlation of 0.91, 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 VTCIX?
RSP and VTCIX share 395 common holdings with a 36.4% weight overlap. Combined, they hold 863 unique securities.
Which pays a higher dividend, RSP or VTCIX?
RSP yields 1.49% while VTCIX yields 0.93%, so RSP currently pays the higher dividend yield.
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