RSP vs SPY Stock Comparison: AI Score, Valuation, Performance and Upside
RSP and SPY both target large-cap blend exposure but take different paths to get there — RSP via the S&P 500 Equal Weight Index, and SPY via the S&P 500 Index. The practical differences come down to issuer, cost structure, and the specific index rules each fund follows, since both are pursuing a similar investment outcome.
RSP vs SPY is largely a question of which issuer and index methodology you trust more for large-cap blend exposure — the underlying investment case is similar, so cost, liquidity, and tracking precision tend to be the deciding factors.
SPY holds the edge across 4 of 5 key metrics in this comparison. SPY has delivered stronger 1-year price return (+17.28% vs +15.67% for RSP).
- want de-concentrating the S&P 500 away from mega-cap tech dominance
- prefer Invesco's approach and fund lineup
- value far less exposure to a handful of mega-cap stocks
- are comfortable with higher expense ratio than cap-weighted S&P 500 funds
- want maximum liquidity and options-market depth on the S&P 500
- prefer State Street's approach and fund lineup
- value deepest options chain and tightest spreads of any equity ETF
- are comfortable with higher expense ratio than newer S&P 500 trackers like VOO or SPLG
| Metric | RSP | SPY |
|---|---|---|
| ETF scorei | 26.9 | 27.1 |
| Latest closei | $215.00 | $771.79 |
| 1M returni | +0.86% | +2.15% |
| 3M returni | +0.35% | +3.06% |
| 6M returni | +7.98% | +10.55% |
| 1Y returni | +15.67% | +17.28% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | RSP | SPY |
|---|---|---|
| 1Y ago | $11.75K (+17.5%) started 2025-10-15 | $11.85K (+18.5%) started 2025-10-15 |
| 5Y ago | $16.36K (+63.6%) started 2021-10-15 | $19.83K (+98.3%) started 2021-10-15 |
| 10Y ago | $37.74K (+277.4%) started 2016-10-17 | $50.5K (+405.0%) started 2016-10-17 |
Hypothetical — past performance does not guarantee future results.
| Metric | RSP | SPY |
|---|---|---|
| Expense ratioi | 0.20% | 0.09% |
| Total assets (AUM)i | $96.06B | $809.22B |
| Dividend yieldi | 1.53% | 0.99% |
| Trailing P/Ei | 20.93 | 24.50 |
| Betai | 0.94 | 1.02 |
| 52-week change | 15.67% | 17.28% |
| Metric | RSP | SPY |
|---|---|---|
| 1Y returni | +15.67% | +17.28% |
| 6M returni | +7.98% | +10.55% |
| 3M returni | +0.35% | +3.06% |
| 1M returni | +0.86% | +2.15% |
| 1Y Sharpe ratio | 0.94 | 0.97 |
| Betai | 0.94 | 1.02 |
| Dividend yieldi | 1.53% | 0.99% |
| 5Y CAGR | +8.46% | +13.10% |
Over the past year, RSP and SPY have moved strongly in the same direction (correlation of 0.77), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | RSP | SPY |
|---|---|---|---|
| 1Y | Growthi | +15.67% | +17.28% |
| CAGRi | +15.68% | +17.29% | |
| Volatilityi | 11.50% | 12.67% | |
| Sharpe ratioi | 0.94 | 0.97 | |
| Sortino ratioi | 1.39 | 1.43 | |
| Max drawdowni | 7.85% | 8.88% | |
| Current drawdowni | 3.13% | 0.94% | |
| Avg drawdowni | 1.65% | 1.44% | |
| Ulcer Indexi | 2.51% | 2.13% | |
| Max daily dropi | 1.55% | 2.58% | |
| Max wkly dropi | 3.50% | 3.82% | |
| 5Y | Growthi | +50.09% | +85.07% |
| CAGRi | +8.46% | +13.10% | |
| Volatilityi | 16.11% | 17.13% | |
| Sharpe ratioi | 0.31 | 0.55 | |
| Sortino ratioi | 0.44 | 0.78 | |
| Max drawdowni | 21.38% | 24.50% | |
| Current drawdowni | 3.13% | 0.94% | |
| Avg drawdowni | 5.19% | 5.56% | |
| Ulcer Indexi | 7.19% | 8.45% | |
| Max daily dropi | 5.61% | 5.85% | |
| Max wkly dropi | 11.81% | 11.50% | |
| 10Y | Growthi | +213.29% | +325.53% |
| CAGRi | +12.11% | +15.59% | |
| Volatilityi | 18.26% | 17.95% | |
| Sharpe ratioi | 0.47 | 0.65 | |
| Sortino ratioi | 0.66 | 0.91 | |
| Max drawdowni | 39.04% | 33.72% | |
| Current drawdowni | 3.13% | 0.94% | |
| Avg drawdowni | 4.45% | 4.30% | |
| Ulcer Indexi | 6.98% | 7.16% | |
| Max daily dropi | 12.04% | 10.94% | |
| Max wkly dropi | 20.24% | 17.97% |
| Category | RSP | SPY |
|---|---|---|
| Fund name | Invesco S&P 500 Equal Weight ETF | State Street SPDR S&P 500 ETF Trust |
| Type | ETF | ETF |
| Expense ratioi | 0.20% | 0.09% |
| Total assets (AUM)i | $96.06B | $809.22B |
| Dividend yieldi | 1.53% | 0.99% |
- Far less exposure to a handful of mega-cap stocks
- Historically tilts toward mid-caps and value during tech corrections
- Quarterly rebalancing forces systematic buy-low, sell-high discipline
- Deepest options chain and tightest spreads of any equity ETF
- Decades-long track record as the market's benchmark proxy
- Extremely high average daily trading volume
- Higher expense ratio than cap-weighted S&P 500 funds
- Has lagged cap-weighted SPY during mega-cap-tech-led bull runs
- More turnover from quarterly rebalancing
- Higher expense ratio than newer S&P 500 trackers like VOO or SPLG
- Structured as a unit investment trust, which limits securities lending efficiency
- No fractional-share flexibility improvement over cheaper peers
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