At a glance
RSPN charges 0.4% a year, above the 0.26% average of the 7 funds most like it (the 6th cheapest of 8). It has $1.09B in assets, the 6th largest of that group; it paid 0.88% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +7.4% with distributions reinvested (S&P 500: +11.5%), 5th of those 8 funds; over three years it returned +19.7% a year. Its ten largest positions make up 14.0% of the fund, out of 81 in all.
The short version
Invesco S&P 500 Equal Weight Industrials ETF (RSPN) tracks the S&P 500 Equal Weight Industrials Index. It holds the industrials companies in the S&P 500 (81 as of June 30, 2026) and resets them to equal weights every quarter. As a result, a $7 billion company counts about as much as a $490 billion one. That approach costs more: the expense ratio is 0.40%, compared with 0.08% for XLI and a 0.26% average across similar funds.
Price history
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RSPN +7.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| RSPN official prospectus, to Dec 31, 2025 | — | +13.85% | — | +13.51% | +14.43% | — |
| RSPN price data to Oct 27, 2026 | +6.8% | +7.4% | +19.7% | — | — | +15.2% |
- Over the year to Oct 27, 2026, RSPN returned +7.4%, 5th of 8 among similar funds.
- Its worst full calendar year was 2025 (+13.8%); its best was 2024 (+17.6%).
- The deepest fall in its price history was 20.9% (Nov 29, 2024 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.8% | — |
| 2025 | +13.8% | +13.85% |
| 2024 | +17.6% | +17.77% |
| 2023 | — | +22.15% |
| 2022 | — | -8.73% |
| 2021 | — | +26.10% |
| 2020 | — | +18.19% |
| 2019 | — | +32.90% |
| 2018 | — | -12.99% |
| 2017 | — | +23.10% |
| 2016 | — | +21.45% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Jun 7, 2023 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 7, 2023 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Jun 7, 2023 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4400 | |
| 2025 | $0.4800 | -4.0% |
| 2024 | $0.5000 |
What's inside
As of Jul 31, 2026, the fund held 81 securities; the ten largest made up 14% of assets.
| Holding | Weight | |
|---|---|---|
| Stanley Black & Decker, Inc. | 1.45% | |
| Allegion PLC | 1.44% | |
| RTX Corp. | 1.44% | |
| Ingersoll Rand Inc. | 1.40% | |
| United Airlines Holdings, Inc. | 1.40% | |
| Axon Enterprise, Inc. | 1.40% | |
| PACCAR Inc. | 1.38% | |
| Honeywell International Inc. | 1.37% | |
| Paychex, Inc. | 1.37% | |
| Automatic Data Processing, Inc. | 1.36% | |
| Illinois Tool Works Inc. | 1.36% | |
| Delta Air Lines, Inc. | 1.35% | |
| GE Vernova Inc. | 1.35% | |
| Veralto Corp. | 1.35% | |
| Cintas Corp. | 1.34% |
By country
United States 93.66%Ireland 6.28%By asset type
Stocks 99.94%By sector
Sectors of the companies held, for the 66.8% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $69.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.17%, +5.78%, -2.11%.
How it works
RSPN is an Invesco index fund. It tracks the S&P 500 Equal Weight Industrials Index, which S&P Dow Jones Indices builds and maintains. The index starts with the S&P 500 and keeps only companies in the industrials sector of the Global Industry Classification Standard (GICS), a common system for sorting companies by business. The sector covers aerospace and defense, building products, electrical equipment and machinery, construction and engineering, business services such as payroll and staffing, and transportation companies such as airlines. As of June 30, 2026, the index had 81 members, worth $7 billion to $490 billion each.
The S&P 500 weights each company by its market value, so the largest firms count the most. This index does the opposite: it gives every company the same weight at each quarterly rebalance. Between rebalances, weights drift as prices move. As of July 31, 2026, the largest positions were Stanley Black & Decker, Allegion, RTX, Ingersoll Rand and United Airlines, at about 1.4% each. The 10 largest made up only 14% of the fund.
The fund uses "full replication," meaning it generally owns every stock in the index at its index weight. It must keep at least 80% of net assets in index stocks or similar investments. Resetting to equal weights means trimming stocks that have risen and adding to ones that have lagged. The prospectus reports 23% portfolio turnover, which is roughly the share of holdings replaced over a year. The fund held no derivatives as of July 31, 2026.
What it really costs
- RSPN charges 0.4% a year, versus an average of 0.26% for the similar funds below (6th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $41 in the first year and $505 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| RSPN | $41 | $128 | $224 | $505 |
In a retirement portfolio
It holds a single sector with many mid-sized companies, so it works better as a smaller add-on than as the main stock holding.
RSPN could add industrials exposure in which no single company dominates. Its published returns start in 2016, so they don't cover 2008. In the first quarter of 2020, the fund fell 26.89%. It then rose 22% the next quarter and finished 2020 up 18.19%. It lost 8.73% in 2022. Its worst calendar year from 2016 to 2025 was 2018, at -12.99%. In price data starting June 2023, its deepest drop was 20.9%, from November 29, 2024 to April 8, 2025, and it had recovered by July 3, 2025. Anyone forced to withdraw money near a low like that would lock in losses. Income is small: a 0.88% trailing yield as of October 27, 2026, paid quarterly. The 0.40% expense ratio adds up to $505 over 10 years on $10,000 in the SEC's standard example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want industrials exposure spread across 81 companies, with no stock above about 1.4% of the fund as of July 31, 2026.
- Those who want smaller industrials to count as much as giants, offsetting the size tilt of S&P 500 funds that weight by market value.
- Long-term holders who can ride out sector swings like the 26.89% drop in early 2020 and a 20.9% fall in 2024–2025.
Look elsewhere if
- Cost-focused investors: the 0.40% expense ratio is five times XLI's 0.08% and above the 0.26% average for similar funds.
- People who need portfolio income; the trailing yield was just 0.88% as of October 27, 2026.
- Anyone wanting one diversified core fund; this holds a single sector exposed to trade disputes, commodity prices and economic cycles.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| RSPN this fund | — | 0.4% | $1.09B | +7.4% | +19.7% |
| XLI Industrial Select Sector SPDR Fund | 66% | 0.08% | $33.96B | +9.4% | +21.3% |
| VIS Vanguard Industrials ETF | 58% | 0.09% | $8.56B | +7.5% | +21.9% |
| FIDU Fidelity MSCI Industrial Index ETF | 58% | 0.084% | $2.30B | +7.5% | +21.8% |
| IYJ iShares U.S. Industrials ETF | 46% | 0.39% | $1.94B | +6.4% | +19.2% |
| EXI iShares Global Industrials ETF | 46% | 0.41% | $1.44B | +8.2% | +22.5% |
| FXR First Trust Industrials/Producer Durables A… | 28% | 0.6% | $741.6M | +6.6% | +17.6% |
| PSET Principal Quality ETF | 20% | 0.15% | $28.8M | +3.4% | +16.4% |
Questions investors ask
What does RSPN invest in?
RSPN owns the industrials stocks in the S&P 500, with each held at about the same weight. As of July 31, 2026, it held 81 companies. They included Stanley Black & Decker, Allegion, RTX, Ingersoll Rand, United Airlines, Axon, PACCAR, Honeywell, Paychex and Automatic Data Processing, each at about 1.4%. The fund also owns airlines, defense contractors, machinery makers and business-services firms. About 94% of assets were in US companies and about 6% in Ireland-based companies.
What's the difference between RSPN and XLI?
The main differences are cost and weighting. RSPN gives each company the same weight and charges 0.40% a year. The Industrial Select Sector SPDR Fund (XLI) charges 0.08%. About 66% of their holdings overlap, based on the latest N-PORT reports. XLI is much bigger, with about $34 billion in net assets as of June 30, 2026, compared with about $1.09 billion for RSPN. Over three years, XLI returned 21.3% a year through October 30, 2026, while RSPN returned 19.7% a year through October 27, 2026.
Does RSPN pay dividends?
Yes. RSPN pays dividends every quarter, but the amounts are small. Over the 12 months to October 27, 2026, it paid about $0.53 per share, a trailing yield of 0.88%. The dividends come from the industrial companies it owns, so payments can rise or fall from one quarter to the next. Investors who mainly want income from their holdings would get little of it here.
What is RSPN's expense ratio?
RSPN's expense ratio is 0.40%, according to the prospectus filed August 27, 2026. That is all management fee, with no waiver. In the SEC's standard example, $10,000 earning 5% a year would cost about $41 after one year, $128 after three, $224 after five and $505 after ten. That ranks 6th cheapest of 8 among similar funds, whose average is 0.26%. Vanguard Industrials ETF (VIS) charges 0.09%, and XLI charges 0.08%.
How has RSPN performed over the last 10 years?
RSPN returned an average of 14.43% a year over the 10 years through December 31, 2025, according to its prospectus. It returned 13.51% a year over five years and 13.85% in 2025. The ride was uneven. The fund lost 12.99% in 2018 and 8.73% in 2022, and it fell 26.89% in the first quarter of 2020. It also gained 32.9% in 2019. Past returns don't predict future results.