RSPF vs SPY
Invesco S&P 500 Equal Weight Financials ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RSPF or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. RSPF is less concentrated, with 15.0% of the fund in its ten largest positions against 38.0%.
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 | RSPF | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $307M | $804.7B |
| Dividend Yield | 1.49% | 0.98% |
| Holdings | 78 | 505 |
| YTD Return | +6.60% | +12.19%Best |
| 1Y Return | +8.43% | +18.53%Best |
| 3Y Return (annualized) | +18.55% | +20.88%Best |
| 5Y Return (annualized) | +8.00% | +12.69%Best |
| Volatility (annualized) | 23.5% | 15.4%Best |
| Max Drawdown | -82.2% | -56.5%Best |
| $10,000 over 5 years | $14,693 | $18,173Best |
| Top 10 Weight | 15.0%Best | 38.0% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 1, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 7, 2006 to Sep 9, 2026 (19.8 years).
RSPF 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 19.8 years both funds cover.
RSPF vs SPY Performance
Invesco S&P 500 Equal Weight Financials ETF (RSPF) 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 RSPF returned +8.43% while SPY returned +18.53%. Year to date, RSPF is up 6.60% versus a gain of 12.19% for SPY.
Over three years, RSPF compounded at +18.55% per year against +20.88% for SPY; over five years the annualized figures are +8.00% and +12.69% respectively. Across the full 20-year window we track, SPY has the edge at +9.38% annualized vs +3.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RSPF has been the more volatile fund, with annualized monthly volatility of 23.5% compared with 15.4% 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 -82.2% for RSPF 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RSPF charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, RSPF currently yields 1.49% against 0.98% for SPY.
Holdings Overlap
100.0% of RSPF's money is in holdings SPY also owns. 12.3% of SPY's money is in holdings RSPF also owns.
Most of RSPF is already inside SPY. Owning both mostly buys the same companies twice.
76 positions in common, counted across the 77 positions we hold weights for in RSPF and 504 in SPY, against full books of 78 and 505.
What only one of them owns
Our book lists 420 positions for SPY that do not appear in our book for RSPF (87.2% of the fund), and 1 for RSPF 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 RSPF | Weight in SPY | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 1.36% | 1.44% | 0.08% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.26% | 1.42% | 0.16% |
| VVisa Inc-class A Shares | 1.35% | 0.92% | 0.43% |
| MAMastercard Inc | 1.38% | 0.69% | 0.69% |
| BACBank of America Corp.: Financials | 1.36% | 0.62% | 0.74% |
| PYPLPaypay Holdings, Inc. | 1.70% | 0.08% | 1.62% |
| GSGoldman Sachs Group Inc/The | 1.24% | 0.47% | 0.77% |
| GPNGlobal Payments Inc. | 1.67% | 0.03% | 1.64% |
| COFCapital One Financial Corp. | 1.47% | 0.21% | 1.26% |
| WFCWells Fargo & Co. | 1.27% | 0.41% | 0.86% |
100.0% of RSPF 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, RSPF or SPY?
RSPF has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, RSPF or SPY?
Over the past year RSPF returned +8.43% vs +18.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), RSPF annualized +3.20% vs +9.38% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RSPF or SPY?
RSPF has been the more volatile fund at 23.5% annualized versus 15.4% for SPY. Worst drawdown: RSPF -82.2% vs SPY -56.5%.
Should I hold both RSPF and SPY?
RSPF and SPY have a monthly-return correlation of 0.81, 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 RSPF and SPY?
100.0% of RSPF's money is in holdings SPY also owns. 12.3% of SPY's is in holdings RSPF also owns. They hold 76 positions in common, counted across the 77 positions we hold weights for in RSPF and 504 in SPY.
Which pays a higher dividend, RSPF or SPY?
RSPF yields 1.49% while SPY yields 0.98%, so RSPF currently pays the higher dividend yield.
Is SPY better than RSPF?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. RSPF is less concentrated, with 15.0% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.