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FNCL vs RSPF

Fidelity MSCI Financials Index ETF

FNCLANYSE Arca

Invesco S&P 500 Equal Weight Financials ETF

RSPFCNYSE Arca

Overlap

Expense ratio

FNCL −0.32pt a year

FNCL0.08%RSPF0.40%

Avg volume · 30D

FNCL 2.1×the volume

FNCL123KRSPF58.8K

10Y return · a year

FNCL +0.6pt

FNCL+12.9%RSPF+12.3%

FNCL vs RSPF Performance

Oct 29, 2021 – Oct 30, 2026

+52.4%FNCL+38.5%RSPF

Oct 29, 2021 to Oct 30, 2026. FNCL +52.4%. RSPF +38.5%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
FNCL 0.08%, better
RSPF 0.40%
Fund size
FNCL $2.24B
RSPF $325M
1Y total return
FNCL +9.6%
RSPF +12.2%, better
Yield (12M)
FNCL 1.61%, better
RSPF 1.52%
Holdings
FNCL 386
RSPF 78
Avg volume (30D)
FNCL 123K sh, better
RSPF 58.8K sh
NAV per share
FNCL $79.91
RSPF $82.38
52W range

ETF.net Grade

FNCL: Cost 97, Risk 53, Mission 81, Tradability 71, Holdings 54, Durability 56. RSPF: Cost 35, Risk 56, Mission 77, Tradability 33, Holdings 88, Durability 39.
Pillar letters and Scores for FNCL, RSPF, with each pillar’s weight
PillarFNCLRSPF
Cost30% weightA97HigherD35
Mission25% weightA81HigherA77
Risk15% weightC53B56Higher
Tradability15% weightA71HigherD33
Holdings10% weightC54A88Higher
Durability5% weightB56HigherD39

Rank among Financials (Broad) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FNCL and RSPF are both graded against the same 18 Financials (Broad) funds, so their Grades compare head to head.

Financials (Broad)⁠

Category · 18 funds
See all 18 ›

FNCL ranks 2nd and RSPF 11th of 18 funds in the Financials (Broad) Category.

  1. Rank 1AXLFState Street Financial Select Sector SPDR ETFScore 82
  2. Rank 2AFNCLFidelity MSCI Financials Index ETFScore 76
  3. Rank 3AKIEState Street SPDR S&P Insurance ETFScore 72
  4. Rank 10BFXOFirst Trust Financials AlphaDEX FundScore 56
  5. Rank 11CRSPFInvesco S&P 500 Equal Weight Financials ETFScore 53
  6. Rank 12CIYGiShares U.S. Financial Services ETFScore 50

Our read on each fund

ETF.net Research

FNCLAFidelity MSCI Financials Index ETF

RSPFCInvesco S&P 500 Equal Weight Financials ETF

In short

FNCL The whole financial food chain in one cheap wrapper: FNCL tracks an MSCI index of about 400 US banks, insurers, exchanges and payment names for 0.08% a year.

RSPF Most financials funds are really a bet on a few megabanks. RSPF spreads the S&P 500's financial sector evenly across about 80 names, so an insurer or an exchange operator carries the same weight as the biggest bank on the list.

Stated mandate

FNCL The fund seeks to track, before fees and expenses, the performance of the MSCI USA IMI Financials Index.

RSPF The fund is designed to provide equal-weighted exposure to stocks in the financials sector.

Why people hold it

  • FNCL Costs 0.08% a year, against a median near 0.44% for broad financials funds. That is the cheapest tier in the category, matched by XLF and undercutting VFH.
  • About 400 holdings under the MSCI USA IMI Financials mandate, so the basket reaches well past the megabank tier into smaller lenders and insurers.
  • Pure index plumbing: it has tracked its benchmark tightly, one of the closer fits in its peer group, and it pays out quarterly.
  • Running since 2013, with a real multi-cycle record behind the ticker rather than a launch-week backtest.
  • RSPF Equal weight, rebalanced quarterly: winners get trimmed and laggards topped back up, instead of letting the largest banks quietly run the portfolio.invesco.com
  • A 0.40% expense ratio, slightly under the typical fund in the financials cohort, for a rules-based tilt rather than a manager's judgment call.
  • Sticks closely to the index it names, the S&P 500 Equal Weight Financials, and holds the sector broadly rather than skimming the headline names.
  • Trading since 2006, so the equal-weight method has been through the 2008 banking blowup and the 2023 regional bank scare with the same rulebook.

Worth knowing

  • FNCL This is one slice of the market. Financials live and die by rates, credit and lending cycles, so the ride is bumpier than a total-market fund.
  • Volume is moderate rather than heavy. XLF trades far more actively, so limit orders matter more here, especially in fast markets.
  • RSPF The tilt costs extra: cap-weighted rivals XLF (0.08%) and VFH (0.09%) charge a fraction of RSPF's 0.40% for plain sector exposure.
  • Thinly traded next to the sector's biggest funds, which can mean wider bid-ask spreads, especially on larger orders.
  • Equal weighting leaves more room for regional banks and insurers, so results can diverge from the cap-weighted sector in either direction.invesco.com

Full FNCL profile⁠

Full RSPF profile⁠

FNCL vs RSPF Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FNCL vs RSPF Cost

Overpaying RSPF vs FNCL

$6,317

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FNCL 0.084%

    $1,773

  • RSPF 0.40%

    $8,090

$10,000
30 years

Cost over time

  • FNCL 0.084%
  • RSPF 0.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530RSPF $8,090FNCL $1,773

Year by year

YearFNCLRSPFOverpaying
10$154$723$569
20$603$2,793$2,190
30$1,773$8,090$6,317

Expense ratio

  • 0.08%FNCL, cheaper
  • 0.40%RSPF
  • Middle half of Financials (Broad) funds
  • Median 0.37%

FNCL 2nd cheapest of 18 funds

RSPF 12th cheapest of 18 funds

FNCL vs RSPF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FNCL 1.61%, better
RSPF 1.52%
Payout (12M)
FNCL $1.29
RSPF $1.25
Last payment
FNCL $0.31
RSPF $0.29
Ex-dividend
FNCL Sep 18, 2026
RSPF Sep 21, 2026
Paid on
FNCL Sep 22, 2026
RSPF Sep 25, 2026
Frequency
FNCL Quarterly
RSPF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNCLQuarterly · 39 paymentsAll FNCL payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.14; Jun 16, 2017 $0.16; Sep 15, 2017 $0.18; Dec 15, 2017 $0.18; Mar 16, 2018 $0.19; Jun 15, 2018 $0.20; Sep 21, 2018 $0.20; Dec 21, 2018 $0.23; Mar 15, 2019 $0.24; Jun 21, 2019 $0.23; Sep 20, 2019 $0.27; Dec 20, 2019 $0.23; Mar 20, 2020 $0.29; Jun 19, 2020 $0.23; Sep 18, 2020 $0.22; Dec 18, 2020 $0.22; Mar 19, 2021 $0.22; Jun 18, 2021 $0.23; Sep 17, 2021 $0.26; Dec 17, 2021 $0.27; Mar 18, 2022 $0.27; Jun 17, 2022 $0.28; Sep 16, 2022 $0.28; Dec 16, 2022 $0.27; Mar 17, 2023 $0.28; Jun 16, 2023 $0.27; Sep 15, 2023 $0.24; Dec 15, 2023 $0.23; Mar 15, 2024 $0.26; Jun 21, 2024 $0.25; Sep 20, 2024 $0.27; Dec 20, 2024 $0.27; Mar 21, 2025 $0.30; Jun 20, 2025 $0.28; Sep 19, 2025 $0.28; Dec 19, 2025 $0.27; Mar 20, 2026 $0.40; Jun 18, 2026 $0.31; Sep 18, 2026 $0.31. Use the arrow keys to read each point.$0$0.252017202020232026YTD
RSPFQuarterly · 39 paymentsAll RSPF payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.20; Jun 16, 2017 $0.14; Sep 15, 2017 $0.15; Dec 15, 2017 $0.08; Mar 16, 2018 $0.22; Jun 15, 2018 $0.20; Sep 24, 2018 $0.21; Dec 24, 2018 $0.27; Mar 18, 2019 $0.25; Jun 24, 2019 $0.21; Sep 23, 2019 $0.22; Dec 23, 2019 $0.20; Mar 23, 2020 $0.27; Jun 22, 2020 $0.31; Sep 21, 2020 $0.25; Dec 21, 2020 $0.24; Mar 22, 2021 $0.26; Jun 21, 2021 $0.21; Sep 20, 2021 $0.26; Dec 20, 2021 $0.27; Mar 21, 2022 $0.27; Jun 21, 2022 $0.29; Sep 19, 2022 $0.28; Dec 19, 2022 $0.26; Mar 20, 2023 $0.32; Jun 20, 2023 $0.32; Sep 18, 2023 $0.30; Dec 18, 2023 $0.33; Mar 18, 2024 $0.31; Jun 24, 2024 $0.28; Sep 23, 2024 $0.29; Dec 23, 2024 $0.32; Mar 24, 2025 $0.33; Jun 23, 2025 $0.30; Sep 22, 2025 $0.30; Dec 22, 2025 $0.29; Mar 23, 2026 $0.38; Jun 22, 2026 $0.29; Sep 21, 2026 $0.29. Use the arrow keys to read each point.$0$0.252017202020232026YTD

FNCL vs RSPF Risk

Fall from peak · 5 years

  • FNCL
  • RSPF
Oct 29, 2021 to Oct 30, 2026. Worst fall: RSPF −27.7% · May 2023. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FNCL 15.8%, betterRSPF 16.6%
Return per unit of riskSharpe ratio, 3 years
FNCL 1.11, betterRSPF 0.95
Worst fallMax drawdown, 5 years
FNCL −25.7%, betterRSPF −27.7%
Market sensitivityBeta, 5 years
FNCL 0.92RSPF 0.87

FNCL and RSPF in the news

All news⁠

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