Data as of Oct 28, 2026.
RSP vs SPHQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, RSP returned +16.0% to SPHQ's +14.1%; 18% of their weight is in the same names.
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Net assets on Oct 27, 2026: $99.8bn for Invesco S&P 500 Equal Weight ETF and $18.7bn for Invesco S&P 500 Quality ETF.
Pair scorecard
SPHQ costs 0.05 points a year less; their one-year returns differ by 1.9 points; RSP is 5.3 times larger.
| Measure | RSP | SPHQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.0% | +14.1% |
| Drawdown | ||
| Below its high | 6.4%, high on Jun 30, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Equal Weight Index | S&P 500 Quality Index |
| Cost and size | ||
| Expense ratio | 0.20% | 0.15% |
| Net assets, as of Oct 27, 2026 | $99.8bn | $18.7bn |
| Holdings | ||
| Holdings in common | 18% | |
| Top ten holdings, share of the fund | 2.7% | 43.3% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Dec 16, 2005 to Oct 23, 2026 · 1,088 weekly returns · each against IVVRSP returned slightly more: +617.0% to +599.2%. SPHQ swung slightly less: 18.0% to 19.5%. SPHQ fell slightly less at its worst: −56.9% to −59.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | RSP | SPHQ | IVV | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +617.0% | +599.2% | RSP (slight) | Price change plus distributions, reinvested. | |
| Annualized | +9.9% | +9.7% | Tie | Total return as a yearly rate. | |
| Price return | +414.3% | +432.7% | SPHQ (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 19.5% | 18.0% | SPHQ (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 13.7% | 13.0% | SPHQ (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −59.6% | −56.9% | SPHQ (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 101.9% | 91.6% | 100.0% | RSP | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 102.5% | 97.3% | 100.0% | SPHQ (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.07 | 0.94 | 1.00 | SPHQ lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.92 | 0.85 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.49 | 0.51 | SPHQ (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.70 | 0.70 | Tie | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.090 | 0.097 | 0.102 | SPHQ (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.17 | 0.17 | SPHQ (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 | −0.5% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.10 | −0.31 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −3.7% to +1.0% | −3.5% to +2.5% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.12 | −0.15 | RSP | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.6% | 7.1% | 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, 1,088 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, RSP and SPHQ hold 18% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
18% in common
Only in one fund ↓
Side by side
RSP and SPHQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
RSP and SPHQ do different jobs. What does each one do in a portfolio?
- What each follows. RSP follows S&P 500 Equal Weight Index and SPHQ follows S&P 500 Quality Index.
- Holdings in common. 18% of the weight is in the same securities (holdings dated Oct 27, 2026).
- Number of holdings. RSP holds 508 positions and SPHQ holds 102.
Data as of Oct 28, 2026.
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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%.
SPHQ
SPHQ tracks the S&P 500 Quality. Over the year to Oct 28, 2026 it returned +14.1% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.15% 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 102 positions, with the top ten at 43.3%. It sat 6.4% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, RSP or SPHQ?
- In the year to Oct 28, 2026, with distributions reinvested, RSP returned +16.0% and SPHQ +14.1%.
- Which is cheaper, RSP or SPHQ?
- SPHQ is cheaper, by 0.05 percentage points a year. That is about $5 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, RSP against SPHQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/rsp-vs-sphq
ETFIQ. (Oct 28, 2026). RSP against SPHQ. Retrieved from https://etfiq.com/compare/any/rsp-vs-sphq
[RSP against SPHQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/rsp-vs-sphq)
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