RSP vs VIG: Correlation & Overlap
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Vanguard Dividend Appreciation ETF (VIG) trade together? Their weekly returns over three years give a correlation of 0.93, which is very strong. By holdings, the two funds overlap 26.9% by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and VIG?
Across a 3-year window, the weekly returns of RSP and VIG correlate at 0.93, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.90) sits close to the 3-year figure. Stretching to 5 years gives 0.95, with an annualized covariance of 146.6 %².
By 3-year correlation, VIG places #6 of the 250 assets tracked against RSP. Their 12-month results are close: +19.2% for RSP against +17.1% for VIG. Stability stands out here, with the rolling one-year correlation confined to 0.88 through 0.97.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
RSP vs VIG: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +19.2% | +17.1% |
| 5-year return | +53.9% | +64.0% |
| Volatility (ann.) | 13.2% | 11.9% |
| Beta vs S&P 500 | 0.77 | 0.74 |
| Max drawdown (3Y) | -17.8% | -15.0% |
| Dividend yield | 1.49% | 1.50% |
| Expense ratio | 0.20% | 0.04% |
| Assets under management | $97.3B | $130.9B |
| Sector / category | ETF · US Large Cap | ETF · Dividend |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield. VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Portfolio overlap between RSP and VIG
The two portfolios partially overlap. Weighing the shared positions, 26.9% of the two funds is identical, spread across 169 common holdings. That shared book is a large part of why the returns line up.
| Common holding | Weight in RSP | Weight in VIG |
|---|---|---|
| PSX | 0.25% | 0.37% |
| AMGN | 0.24% | 0.90% |
| MRK | 0.24% | 1.40% |
| ABT | 0.24% | 0.80% |
| MSFT | 0.23% | 4.35% |
| MA | 0.23% | 2.01% |
| TRV | 0.23% | 0.35% |
| ADP | 0.23% | 0.46% |
| GILD | 0.23% | 0.70% |
| INTU | 0.23% | 0.38% |
| AJG | 0.22% | 0.28% |
| V | 0.22% | 2.46% |
| STT | 0.22% | 0.22% |
| MSI | 0.22% | 0.31% |
| ALL | 0.22% | 0.29% |
Largest positions held only by RSP: MRNA (0.61%), ZBRA (0.31%), CRL (0.29%), DASH (0.29%), EXPE (0.28%). Only by VIG: SUNB (0.13%), RS (0.09%), RBA (0.09%), HEI.A (0.09%), ITT (0.08%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 15 common positions shown.
Year-by-year returns
| Year | RSP | VIG |
|---|---|---|
| 2022 | -11.6% | -9.8% |
| 2023 | +13.7% | +14.5% |
| 2024 | +12.8% | +17.0% |
| 2025 | +11.2% | +14.2% |
| 2026 | +16.5% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and VIG good diversifiers for each other?
Not really. At 0.93, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between RSP and VIG?
As of 2026-08-27, the correlation of weekly returns between RSP and VIG is 0.93 over 3 years, 0.90 over 1 year and 0.95 over 5 years.
Is VIG a good diversifier for RSP?
Not really. At 0.93, the two trade almost as one position, and owning both buys little extra protection.
How much do RSP and VIG overlap?
26.9% by weight, across 169 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
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Related comparisons
Hubs: RSP correlations · VIG correlations
