RSPM vs SPY
Invesco S&P 500 Equal Weight Materials ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RSPM or SPY?
Each has led over a different period.
SPY has a lower expense ratio. RSPM led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 43.9%.
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 | RSPM | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $188M | $804.7B |
| Dividend Yield | 1.73% | 0.98% |
| Holdings | 28 | 505 |
| YTD Return | +13.71%Best | +11.52% |
| 1Y Return | +20.39%Best | +17.48% |
| 3Y Return (annualized) | +8.88% | +20.62%Best |
| 5Y Return (annualized) | +5.09% | +12.73%Best |
| Volatility (annualized) | 21.2% | 15.4%Best |
| Max Drawdown | -62.5% | -56.5%Best |
| $10,000 over 5 years | $12,818 | $18,205Best |
| Top 10 Weight | 43.9% | 38.0%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | 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 10, 2026 (19.8 years).
RSPM 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.
RSPM vs SPY Performance
Invesco S&P 500 Equal Weight Materials ETF (RSPM) 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 RSPM returned +20.39% while SPY returned +17.48%. Year to date, RSPM is up 13.71% versus a gain of 11.52% for SPY.
Over three years, RSPM compounded at +8.88% per year against +20.62% for SPY; over five years the annualized figures are +5.09% and +12.73% respectively. Across the full 20-year window we track, SPY has the edge at +9.35% annualized vs +7.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RSPM has been the more volatile fund, with annualized monthly volatility of 21.2% 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 -62.5% for RSPM 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RSPM 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, RSPM currently yields 1.73% against 0.98% for SPY.
Holdings Overlap
92.5% of RSPM's money is in holdings SPY also owns. 1.6% of SPY's money is in holdings RSPM also owns.
Most of RSPM is already inside SPY. Owning both mostly buys the same companies twice.
23 positions in common, counted across the 26 positions we hold weights for in RSPM and 504 in SPY, against full books of 28 and 505.
What only one of them owns
Our book lists 472 positions for SPY that do not appear in our book for RSPM (98.0% of the fund), and 3 for RSPM that do not appear in SPY (7.5%).
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 RSPM | Weight in SPY | Difference |
|---|---|---|---|
| IPInternational Paper Co. | 4.94% | 0.03% | 4.91% |
| SWSmurfit WestRock plc Common Shares | 4.63% | 0.04% | 4.59% |
| AMCRAmcor Plc Ordinary Shares | 4.59% | 0.03% | 4.56% |
| SHWSherwin Williams Co/the | 4.42% | 0.12% | 4.30% |
| PKGPackaging Corp. Of America | 4.38% | 0.03% | 4.35% |
| BALLBall Corp. | 4.33% | 0.03% | 4.30% |
| MOSMosaic Co. | 4.26% | 0.01% | 4.25% |
| ECLEcolab, Inc. | 4.10% | 0.11% | 3.99% |
| NUENucor Corp. | 4.07% | 0.09% | 3.98% |
| AVYAvery Dennison Corp. | 4.13% | 0.02% | 4.11% |
92.5% of RSPM 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, RSPM or SPY?
RSPM 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, RSPM or SPY?
Over the past year RSPM returned +20.39% vs +17.48% for SPY, so RSPM leads on 1-year performance. Over the longest common window we track (20 years), RSPM annualized +7.76% vs +9.35% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RSPM or SPY?
RSPM has been the more volatile fund at 21.2% annualized versus 15.4% for SPY. Worst drawdown: RSPM -62.5% vs SPY -56.5%.
Should I hold both RSPM and SPY?
RSPM and SPY have a monthly-return correlation of 0.85, 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 RSPM and SPY?
92.5% of RSPM's money is in holdings SPY also owns. 1.6% of SPY's is in holdings RSPM also owns. They hold 23 positions in common, counted across the 26 positions we hold weights for in RSPM and 504 in SPY.
Which pays a higher dividend, RSPM or SPY?
RSPM yields 1.73% while SPY yields 0.98%, so RSPM currently pays the higher dividend yield.
Is SPY better than RSPM?
SPY has a lower expense ratio. RSPM led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 43.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.