Data as of Oct 28, 2026.
FEX vs RSP: Differences, Returns & Fees
Over the year to Oct 28, 2026, FEX returned +18.2% to RSP's +16.0%; 57% of their weight is in the same names.
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Net assets on Oct 27, 2026: $1.6bn for First Trust Large Cap Core AlphaDEX Fund and $99.8bn for Invesco S&P 500 Equal Weight ETF.
Pair scorecard
RSP costs 0.37 points a year less; their one-year returns differ by 2.2 points; RSP is far larger, $99.8bn against $1.6bn.
| Measure | FEX | RSP |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.2% | +16.0% |
| Benchmark | ||
| What it tracks | Nasdaq AlphaDEX Large Cap Core Index | S&P 500 Equal Weight Index |
| Cost and size | ||
| Expense ratio | 0.57% | 0.20% |
| Net assets, as of Oct 27, 2026 | $1.6bn | $99.8bn |
| Holdings | ||
| Holdings in common | 57% | |
| Top ten holdings, share of the fund | 5.1% | 2.7% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
May 18, 2007 to Oct 23, 2026 · 1,014 weekly returns · each against IVVFEX and RSP returned about the same: +480.9% and +474.1%. FEX and RSP swung about the same: 19.9% and 19.9%. FEX and RSP fell about the same at their worst: −58.8% and −59.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FEX | RSP | IVV | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +480.9% | +474.1% | Tie | Price change plus distributions, reinvested. | |
| Annualized | +9.4% | +9.4% | Tie | Total return as a yearly rate. | |
| Price return | +352.4% | +317.5% | FEX (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 19.9% | 19.9% | Tie | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 14.0% | 14.1% | Tie | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −58.8% | −59.6% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 100.5% | 101.6% | 100.0% | Tie | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 101.6% | 102.4% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.06 | 1.07 | 1.00 | Tie | How far it moves for each 1% its benchmark moves. |
| R squared | 0.91 | 0.92 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.48 | 0.47 | Tie | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.68 | 0.67 | Tie | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.090 | 0.089 | 0.102 | Tie | Return above Treasury bills per unit of beta. |
| Calmar | 0.16 | 0.16 | FEX (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | IVV | IVV | IVV | The ETF each fund is measured against. | |
| Alpha | −1.3% a year | −1.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.95 | −1.13 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −4.0% to +1.4% | −3.9% to +1.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.12 | −0.13 | FEX | Return against its benchmark per unit of tracking error. | |
| Tracking error | 6.1% | 5.7% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,014 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FEX and RSP hold 57% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
57% in common
Only in one fund ↓
Side by side
FEX and RSP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FEX and RSP are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FEX follows Nasdaq AlphaDEX Large Cap Core Index and RSP follows S&P 500 Equal Weight Index.
- One-year total return. Over 1 year to Oct 28, 2026 FEX returned +18.2% and RSP +16.0% with distributions reinvested, a gap of 2.2 points.
- Cost. FEX charges 0.57% of assets a year and RSP 0.20%, a gap of 0.37 points.
Data as of Oct 28, 2026.
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FEX
FEX tracks an index. Over the year to Oct 28, 2026 it returned +18.2% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 27, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 375 positions, with the top ten at 5.1%.
RSP
RSP tracks the S&P 500 equal weight. Over the year to Oct 28, 2026 it returned +16.0% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.20% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 508 positions, with the top ten at 2.7%.
Questions people ask
- Which returned more over the last year, FEX or RSP?
- In the year to Oct 28, 2026, with distributions reinvested, FEX returned +18.2% and RSP +16.0%.
- Which is cheaper, FEX or RSP?
- RSP is cheaper, by 0.37 percentage points a year. That is about $37 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, FEX against RSP, data as of Oct 28, 2026. https://etfiq.com/compare/any/fex-vs-rsp
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[FEX against RSP (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fex-vs-rsp)
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