RSP vs SPMD: Performance, Holdings, Fees & Risk
RSP and SPMD are ETFs, but they can differ materially in exposure, yield, fees and risk. RSP is Invesco S&P 500 Equal Weight ETF, while SPMD is State Street SPDR Portfolio S&P 400 Mid Cap ETF. RSP is broader by holdings count, with 509 positions versus 403 for SPMD. SPMD is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has RSP ahead on AIQ Score, 70 versus 60.
What is the main difference between RSP and SPMD?
RSP and SPMD have little in common: 0% of their weight is in the same securities.
| Metric | RSP | SPMD |
|---|---|---|
| Fund | ||
| Expense ratio | 0.2% | 0.03% |
| Holdings | 509 | 403 |
| Top-10 concentration | 3.2% | 7.8% |
| Distribution yieldTrailing 12 months | 1.47% | 1.31% |
| Average volume | 7,962,749 | 1,537,217 |
| Performance | ||
| 1Y return | +15.4% | +13.6% |
| YTD return | +12.7% | +10.6% |
| 5Y annualized returnTotal return, distributions reinvested | +8.1% | +7% |
| Risk | ||
| Annualized volatility | 11.4% | 15.1% |
| Max drawdown (1Y) | -8.3% | -9.2% |
| Max drawdown (5Y)Total return, distributions reinvested | -21.4% | -24.1% |
| Beta | 0.68 | 0.95 |
| Sharpe ratio | 0.93 | 0.65 |
| Sortino ratio | 1.62 | 1.09 |
| AlgovestIQ | ||
| AIQ Score | 70/100 | 60/100 |
| AIQ Edge Score | 10/10 | 8/10 |
| Momentum | 81/100 | 55/100 |
| Risk Resilience | 84/100 | 83/100 |
AlgovestIQ AIQ Comparison
Invesco S&P 500 Equal Weight ETF vs State Street SPDR Portfolio S&P 400 Mid Cap ETF
RSP leads
RSP leads by 10 AIQ points, primarily on Momentum and Quality, and the lead has widened from 4 points over 30 sessions.
Fragile: 2 of 4 evidence groups support RSP, its lead is widening, and its current signal state is conflicted.
Invesco S&P 500 Equal Weight ETF
State Street SPDR Portfolio S&P 400 Mid Cap ETF
The Algovestiq AIQ Score currently favors RSP over SPMD, 70 versus 60 as of Oct 21, 2026. RSP's advantage is driven primarily by stronger momentum and quality. RSP also shows the stronger technical structure relative to its 50-day moving average. 2 of 4 covered evidence groups favor RSP today, and the comparison is rated Fragile on stability: only 2 of 4 covered evidence groups agree. RSP lead: Strengthening — the AIQ differential moved from 4 to 10 points over 30 sessions.
Compare Invesco S&P 500 Equal Weight ETF and State Street SPDR Portfolio S&P 400 Mid Cap ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
RSP vs SPMD: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | RSP | SPMD | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.2% | 0.03% | SPMD |
| Broader diversificationNumber of holdings | 509 | 403 | RSP |
| Lower concentrationWeight of the 10 largest holdings | 3.2% | 7.8% | RSP |
| Higher incomeTrailing 12-month distribution yield | 1.47% | 1.31% | Similar |
| Smaller drawdownsMax drawdown, 5 years | -21.4% | -24.1% | RSP |
| Lower volatilityAnnualized volatility, 1 year | 11.4% | 15.1% | RSP |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare RSP and SPMD against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Momentum81 vs 55RSP +26
- Quality72 vs 61RSP +11
- Risk Resilience84 vs 83Even
- Value51 vs 51Even
2 of 4 evidence groups favor RSP. RSP’s edge is concentrated in momentum and quality.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum +20
New signals
- Keltner Channel Breakout — bullish, volatility, short horizon
- RSI Overbought — bearish, momentum, short horizon
- EMA Ribbon Compression — neutral, trend, medium horizon
Largest factor move: Momentum +13
No signal started or stopped since the prior session; its 4 active signals are unchanged.
RSP's lead widened by 2 AIQ points in the latest session.
Deeper signal detail for each name lives on its own signals page — RSP and SPMD both carry a full feed there.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | RSP | SPMD | Why it matters |
|---|---|---|---|
| Expense ratio | 0.2% | 0.03% | Lower is better — it compounds against you every year you hold. |
| Holdings | 509 | 403 | More holdings means broader diversification, not better returns. |
| Average volume | 7,962,749 | 1,537,217 | Liquidity — matters most if you trade size. |
| Annualized volatility | 11.4% | 15.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -8.3% | -9.2% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | 0.93 | 0.65 | Return per unit of risk. Higher is better. |
| Beta | 0.68 | 0.95 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
RSP and SPMD share 0% of their weighted exposure across 0 common holdings.
505 holdings are unique to RSP, and 401 holdings are unique to SPMD. Owning both is genuinely additive — most of the capital sits in different securities.
SPMD is the more concentrated of the two: its ten largest positions are 7.8% of the fund, against 3.16% for RSP (403 holdings vs 509). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
What RSP adds that SPMD doesn’t
| Holding | RSP | SPMD |
|---|---|---|
| MRNAModerna Inc | 0.58% | Not held |
| VEEVVeeva Systems Inc | 0.31% | Not held |
| ZBRAZebra Technologies Corp | 0.31% | Not held |
| VLOValero Energy Corp | 0.29% | Not held |
| MPCMarathon Petroleum Corp | 0.29% | Not held |
| CRLCharles River Laboratories International Inc | 0.28% | Not held |
What SPMD adds that RSP doesn’t
| Holding | SPMD | RSP |
|---|---|---|
| TWLOTWILIO INC A | 1% | Not held |
| ILMNILLUMINA INC | 0.87% | Not held |
| FTITECHNIPFMC PLC | 0.86% | Not held |
| PEVERPURE INC A | 0.85% | Not held |
| OKTAOKTA INC | 0.82% | Not held |
| ATIATI INC | 0.78% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
RSP vs SPMD: five-year payout growth
SPMD grew its split-adjusted payout faster over 2020-2025 — 8.89% a year against RSP's 8.41%. SPMD never reduced its annual distribution in the window; RSP did in 1 year.
| Dividend metric | RSP | SPMD |
|---|---|---|
| 5Y payout CAGR | 8.41% | 8.89% |
| 2020 annual payout | $2.094 | $0.525 |
| 2025 annual payout | $3.136 | $0.804 |
| Calendar-year declines | 1 | 0 |
| Peer rank | #68 of 138 | #64 of 138 |
Split-adjusted annual distributions, 2020–2025. Research as of Sep 19, 2026. Yield and expense ratio above are current values, not part of this window.
AIQ Agreement Matrix
2 of 4 covered evidence groups favor RSP. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | RSP | 70 vs 60 |
| Fundamentals | Not covered | Not covered |
| Valuation | Even | Value 51 vs 51 |
| Technicals | RSP | Price vs 50-day 0.5% vs -1.6%; vs 200-day 4.3% vs 0.3% |
| Risk Resilience | Even | Risk Resilience 84 vs 83 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of RSP and SPMD and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is moderate at 10 points.
- Only 2 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The leader's advantage has been widening. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on RSP.
How the comparison changed
120 daily snapshots · Jun 21 – Oct 20RSP lead: Strengthening — the AIQ differential moved from 4 to 10 points over 30 sessions.
- Today
- RSP +10
- 70 vs 60
- 7 sessions ago
- RSP +7
- 65 vs 58
- 30 sessions ago
- RSP +4
- 57 vs 53
- 90 sessions ago
- RSP +1
- 65 vs 64
The lead has not changed hands in this window.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
5 bullish / 1 bearish / 2 neutral, conflicted
Only RSP
- Keltner Channel Breakout — bullish, volatility, short horizon
- RSI Overbought — bearish, momentum, short horizon
- EMA Ribbon Compression — neutral, trend, medium horizon
- EMA Ribbon Expansion Bullish — bullish, trend, medium horizon
- Uptrend Structure Active — bullish, trend, long horizon
2 bullish / 0 bearish / 2 neutral
Only SPMD
- Bollinger Band Squeeze — neutral, volatility, short horizon
Both carry 3 more signals that do not separate them: Golden Cross Active, ATR Contraction - Coiling, MACD Bullish Crossover.
RSP leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Price and the AIQ Score both moved up over the latest session (price +0.36%, AIQ +5 points).
Price and the AIQ Score both moved up over the latest session (price +0.39%, AIQ +3 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1SPMD closes the Momentum gap — currently 26 points behind, the largest single contributor to RSP's edge.
- 2SPMD's Bollinger Band Squeeze turns directional — it is neutral today and would confirm a change in trend.
- 3RSP's conflicting signal state resolves bearish — it currently carries 5 bullish and 1 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
RSP leads 6 of 6 windows| Metric | RSP | SPMD |
|---|---|---|
| 1 week (5 sessions) | 1.2% | -0.2% |
| 1 month (20 sessions) | 1.4% | -0.5% |
| 3 months (63 sessions) | 1.5% | -3.5% |
| 6 months (126 sessions) | 6.6% | 0.2% |
| Year to date | 12.7% | 10.6% |
| 1 year (252 sessions) | 15.4% | 13.6% |
Technicals
RSP has the stronger structure| Metric | RSP | SPMD |
|---|---|---|
| RSI (14) | 73.2 | 57.6 |
| ADX (14) | 24.3 | 39.9 |
| Price vs 50-day | 0.5% | -1.6% |
| Price vs 200-day | 4.3% | 0.3% |
| Volatility (1M, annualized) | 10.3% | 12.6% |
Risk
Split| Metric | RSP | SPMD |
|---|---|---|
| Beta | 0.68 | 0.95 |
| Sharpe ratio | 0.93 | 0.65 |
| Sortino ratio | 1.62 | 1.09 |
| Max drawdown | -8.3% | -9.2% |
| Current drawdown | -3.1% | -7.1% |
| Annualized volatility | 11.4% | 15.1% |
| Value at risk (95%) | -1.2% | -1.6% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between RSP and SPMD?
RSP and SPMD have little in common: 0% of their weight is in the same securities.
How much do RSP and SPMD overlap?
RSP and SPMD share 0% of their weighted exposure across 0 common holdings. 505 holdings are unique to RSP, and 401 holdings are unique to SPMD. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, RSP or SPMD?
RSP holds more positions: 509 versus 403 for SPMD.
Which has the lower expense ratio?
SPMD has the lower expense ratio, 0.03% a year against 0.2% for RSP.
Which ETF has the higher distribution yield?
Their trailing 12-month distribution yields are similar: 1.47% for RSP and 1.31% for SPMD.
Which ETF has been more volatile?
SPMD has been more volatile over the past year, at 15.1% annualized against 11.4% for RSP.
Which ETF has had the smaller drawdown?
RSP fell less from peak to trough over the past five years: -21.4% against -24.1% for SPMD.
Compare RSP and SPMD with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.