IVVW vs RSPA: Grades, Fees and Holdings Compared

iShares S&P 500 BuyWrite ETF

IVVWACboe

Invesco S&P 500 Equal Weight Income Advantage ETF

RSPAANYSE Arca

Overlap

39.4%by weight

Expense ratio

IVVW −0.04pt a year

IVVW0.25%RSPA0.29%

Avg volume · 30D

RSPA 6.1×the volume

IVVW41.5KRSPA255K

IVVW vs RSPA Performance

Oct 31, 2025 – Oct 30, 2026

+13.4%IVVW+15.4%RSPA

Expense ratio: IVVW 0.25%, better; RSPA 0.29%
Fund size: IVVW $348M; RSPA $1.22B
1Y total return: IVVW +13.4%; RSPA +15.4%, better
Yield (12M): IVVW 18.55%, better; RSPA 9.16%
Holdings: IVVW 506; RSPA 526
Avg volume (30D): IVVW 41.5K sh; RSPA 255K sh, better
NAV per share: IVVW $44.40; RSPA $53.02
52W range

ETF.net Grade

Pillar letters and Scores for IVVW, RSPA, with each pillar’s weight
Pillar	IVVW	RSPA
Cost30% weight	A96Higher	A87
Mission25% weight	A100	Not scored
Risk15% weight	C53	A71Higher
Tradability15% weight	C53	B59Higher
Holdings10% weight	A75	A80Higher
Durability5% weight	A72Higher	A70

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. IVVW and RSPA are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds

See all 51 ›

IVVW ranks 3rd and RSPA 5th of 51 funds in the S&P 500 Option Income Category.

Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80
Rank 4AGPIXGoldman Sachs S&P 500 Premium Income ETFScore 78
Rank 5ARSPAInvesco S&P 500 Equal Weight Income Advantage ETFScore 76
Rank 6AGQINatixis Gateway Quality Income ETFScore 74

Our read on each fund

ETF.net Research

IVVWAiShares S&P 500 BuyWrite ETF

RSPAAInvesco S&P 500 Equal Weight Income Advantage ETF

In short

IVVW BlackRock's version of the covered call: hold the whole S&P 500 through the iShares Core fund, sell one-month index calls struck 1% out of the money, pay the premium out monthly. All for a quarter-point fee.

RSPA Most S&P 500 option-income funds sit on a megacap-led index. RSPA runs the equal-weight version instead: about 500 stocks at roughly even weight, income paid monthly, 0.29% net of a waiver through August 31, 2027.

Stated mandate

IVVW The fund seeks to track an index strategy that holds the iShares Core S&P 500 ETF and sells one-month call options primarily on the S&P 500 Index to generate income. The short option position is intended to be offset by the fund’s long position in the underlying ETF.

RSPA The fund seeks exposure to the S&P 500 Equal Weight Index while using an active option-income overlay. It is designed to generate consistent monthly income while retaining growth potential and lower volatility.

Why people hold it

IVVW Costs 0.25% a year against a category median near 0.60%. On an income strategy, that is less of the option premium quietly leaking out the door.
The calls sit 1% out of the money, so a slice of each month's rally still belongs to shareholders before the cap bites. At-the-money writers give that up.cboe.com
Rules over hunches: it tracks a Cboe index that pairs a long position in the iShares Core S&P 500 ETF with a short monthly S&P 500 call, rolled on a set schedule.cboe.com
Inside a crowded covered-call field where fat fees are the norm, this is one of the tighter builds in its peer group.

RSPA Fully replicates the S&P 500 Equal Weight Index, so its roughly 500 names carry similar weights and no handful of megacaps sets the tone.sec.gov
0.29% net (0.32% gross) under a waiver through August 31, 2027, below its 52-fund category median. Ties GPIX, at 0.29% net of a waiver through April 30, 2027.
Income comes from short-term equity-linked notes capped at 10% of net assets, with cash and Treasury bills held alongside the stocks. Paid out monthly.sec.gov sec.gov 2
Rates among the stronger builds in a crowded field of S&P 500 income-overlay funds.

Worth knowing

IVVW Covered calls trade upside for income. Above the strike, the month's gain is capped, and the premium cushions losses rather than blocking them.cboe.com
Monthly payouts come from option premium, so they move with volatility instead of arriving as a fixed amount.
Launched in 2024 and moderately traded, so the live record is short and spreads can run wider than the category's biggest names.

RSPA The overlay trades away some of the index's upside for premium income, so strong rallies land softer than plain equal-weight exposure.invesco.com sec.gov
Income flows through notes issued by banks rather than listed calls the fund writes itself, which adds credit exposure to those issuers.sec.gov
Launched in July 2024, so the strategy has yet to be tested across a full market cycle.

Full IVVW profile⁠

Full RSPA profile⁠

IVVW vs RSPA Holdings

How IVVW and RSPA differ

Overlap by weight

39.4%

Shared holdings make up 99.5% of IVVW and 75.3% of RSPA.

Level by level

Holdings496 in both39.4%
Sector11 Sectors74.5%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in IVVW and RSPA, widest gap first
Sector	More in IVVWMore in RSPA	IVVW	RSPA
Technology	IVVW +20.5 points	38.5%	18.0%
Industrials	RSPA +7.2 points	8.0%	15.2%
Communication	IVVW +4.9 points	8.9%	4.0%
Real Estate	RSPA +4.1 points	1.7%	5.8%
Utilities	RSPA +3.9 points	2.0%	5.9%
Health Care	RSPA +2.8 points	9.8%	12.6%
Materials	RSPA +2.2 points	1.7%	3.9%
Consumer Discretionary	RSPA +1.7 points	9.0%	10.7%
Financials	RSPA +1.7 points	11.8%	13.5%
Consumer Staples	RSPA +1.5 points	4.8%	6.3%
Energy	RSPA +0.3 points	3.7%	4.0%

Country, concentration and asset class

Country by domicile

Country weights in IVVW and RSPA, widest gap first
Country	More in IVVWMore in RSPA	IVVW	RSPA
United States	IVVW +0.8 points	99.5%	98.8%
Other countries (5)	RSPA +0.7 points	0.5%	1.2%

Concentration

Weight in the 10 largest Holdings

IVVW37.3%
RSPA21.1%

Securities held

IVVW503
RSPA524

Asset class

IVVW: Equity
RSPA: Equity

Holdings

Only in IVVW7
In both496
Only in RSPA28

Only in IVVW

7 securities, 0.4% of IVVW by weight

Elevance Health Inc0.14%
Becton Dickinson0.08%
Vivmark Residential0.07%
Block Class A0.06%
Fiserv Inc0.04%
Ball Corp0.03%
Skydance Shs Class B<0.01%

Only in RSPA

28 securities, 24.4% of RSPA by weight

Invesco Premier US Government Money Portfolio18.42%
Toronto-Dominion Bank/The 118.10% 11/30/20260.36%
JPMorgan Chase & Co 126.60% 11/24/20260.33%
Royal Bank of Canada 149.55% 11/17/20260.33%
Bank of Montreal 120.22% 11/27/20260.31%
Citigroup Inc 136.78% 11/25/20260.31%
JPMorgan Chase & Co 136.50% 11/04/20260.29%
Citigroup Inc 136.97% 11/16/20260.27%
Wells Fargo & Co 133.70% 11/18/20260.25%
Toronto-Dominion Bank/The 139.80% 11/06/20260.24%
Canadian Imperial Bank of Commerce 123.50% 11/23/20260.23%
Toronto-Dominion Bank/The 152.20% 11/05/20260.22%
Goldman Sachs Group Inc/The 124.90% 11/16/20260.22%
JPMorgan Chase & Co 116.00% 11/10/20260.21%
JPMorgan Chase & Co 113.90% 11/09/20260.21%
Wells Fargo & Co 139.53% 11/19/20260.20%
Wells Fargo & Co 137.58% 11/20/20260.20%
Morgan Stanley 109.65% 12/01/20260.19%
Bank of Montreal 121.52% 11/12/20260.19%
Bank of Montreal 124.65% 11/13/20260.19%
BNP Paribas SA 138.00% 11/03/20260.19%
Becton Dickinson & Co0.16%
Ball Corp0.16%
Elevance Health Inc0.16%
Skydance Corp0.16%
Fiserv Inc0.15%
Block Inc0.14%
Vivmark Residential0.14%

Weight gaps

The 100 widest of 496 Holdings in both funds.

Holding weights in IVVW and RSPA, widest gap first
Holding	More in IVVWMore in RSPA	IVVW	RSPA
AppleAAPL	IVVW +7.54 points	7.70%	0.16%
NVIDIANVDA	IVVW +7.44 points	7.58%	0.14%
MicrosoftMSFT	IVVW +5.77 points	5.93%	0.16%
Amazon.com IncAMZN	IVVW +3.47 points	3.61%	0.14%
Alphabet Class AGOOGL	IVVW +2.44 points	2.51%	0.07%
Broadcom IncAVGO	IVVW +2.24 points	2.38%	0.14%
Alphabet Class CGOOG	IVVW +1.97 points	2.03%	0.06%
Meta Platforms Class AMETA	IVVW +1.94 points	2.08%	0.14%
Tesla IncTSLA	IVVW +1.57 points	1.73%	0.16%
Eli LillyLLY	IVVW +1.56 points	1.74%	0.18%
Micron TechnologyMU	IVVW +1.39 points	1.53%	0.14%
Berkshire Hathaway Inc Class BBRK.B	IVVW +1.39 points	1.55%	0.16%
JPMorgan Chase & CoJPM	IVVW +1.23 points	1.37%	0.14%
Advanced Micro DevicesAMD	IVVW +1.10 points	1.26%	0.16%
Exxonmobil Holdings CorpXOM	IVVW +1.01 points	1.18%	0.17%
Visa Class AV	IVVW +0.91 points	1.08%	0.17%
Johnson & JohnsonJNJ	IVVW +0.86 points	1.01%	0.15%
WalmartWMT	IVVW +0.67 points	0.84%	0.17%
AbbVieABBV	IVVW +0.63 points	0.80%	0.17%
Mastercard Class AMA	IVVW +0.62 points	0.79%	0.17%
ChevronCVX	IVVW +0.55 points	0.71%	0.16%
Costco Wholesale CorpCOST	IVVW +0.53 points	0.69%	0.16%
Cisco Systems IncCSCO	IVVW +0.48 points	0.63%	0.15%
Palantir Technologies Class APLTR	IVVW +0.48 points	0.65%	0.17%
Merck & Co IncMRK	IVVW +0.41 points	0.56%	0.15%
Procter & GamblePG	IVVW +0.41 points	0.58%	0.17%
UnitedHealth GroupUNH	IVVW +0.40 points	0.56%	0.16%
Coca-ColaKO	IVVW +0.40 points	0.56%	0.16%
Bank of AmericaBAC	IVVW +0.38 points	0.50%	0.12%
Intel CorporationINTC	IVVW +0.37 points	0.50%	0.13%
Home DepotHD	IVVW +0.34 points	0.50%	0.16%
Applied Material IncAMAT	IVVW +0.34 points	0.47%	0.13%
Lam ResearchLRCX	IVVW +0.34 points	0.46%	0.12%
Ge AerospaceGE	IVVW +0.34 points	0.48%	0.14%
Philip Morris InternationalPM	IVVW +0.33 points	0.50%	0.17%
Caterpillar IncCAT	IVVW +0.32 points	0.44%	0.12%
Palo Alto NetworksPANW	IVVW +0.29 points	0.46%	0.17%
NetflixNFLX	IVVW +0.28 points	0.40%	0.12%
Goldman Sachs GroupGS	IVVW +0.27 points	0.40%	0.13%
RtxRTX	IVVW +0.26 points	0.41%	0.15%
Wells FargoWFC	IVVW +0.25 points	0.39%	0.14%
Texas InstrumentTXN	IVVW +0.24 points	0.42%	0.18%
Thermo Fisher ScientificTMO	IVVW +0.22 points	0.39%	0.17%
OracleORCL	IVVW +0.22 points	0.35%	0.13%
International Business Machines CoIBM	IVVW +0.21 points	0.37%	0.16%
Ge VernovaGEV	IVVW +0.21 points	0.35%	0.14%
Amgen IncAMGN	IVVW +0.21 points	0.39%	0.18%
Morgan StanleyMS	IVVW +0.21 points	0.34%	0.13%
Crowdstrike Holdings Class ACRWD	IVVW +0.20 points	0.39%	0.19%
Linde PLCLIN	IVVW +0.20 points	0.36%	0.16%
PtcPTC	RSPA +0.20 points	0.03%	0.23%
KlaKLAC	IVVW +0.18 points	0.32%	0.14%
CitigroupC	IVVW +0.17 points	0.31%	0.14%
GartnerIT	RSPA +0.18 points	0.02%	0.20%
Charles River Laboratories InternaCRL	RSPA +0.17 points	0.03%	0.20%
HasbroHAS	RSPA +0.17 points	0.03%	0.20%
RevvityRVTY	RSPA +0.17 points	0.03%	0.20%
Norwegian Cruise Line HoldingsNCLH	RSPA +0.17 points	0.01%	0.18%
Allegion PLCALLE	RSPA +0.16 points	0.02%	0.18%
Illumina IncILMN	RSPA +0.16 points	0.05%	0.21%
Ralph Lauren Class ARL	RSPA +0.16 points	0.02%	0.18%
Gilead SciencesGILD	IVVW +0.15 points	0.32%	0.17%
PentairPNR	RSPA +0.15 points	0.02%	0.17%
Verizon Communications IncVZ	IVVW +0.15 points	0.28%	0.13%
A O SmithAOS	RSPA +0.15 points	0.01%	0.16%
Factset Research SystemsFDS	RSPA +0.15 points	0.02%	0.17%
Brown Forman Class BBF.B	RSPA +0.15 points	<0.01%	0.16%
Amphenol Corp Class AAPH	IVVW +0.15 points	0.30%	0.15%
InsuletPODD	RSPA +0.14 points	0.02%	0.16%
Huntington Ingalls IndustriesHII	RSPA +0.15 points	0.02%	0.17%
MascoMAS	RSPA +0.15 points	0.02%	0.17%
Davita IncDVA	RSPA +0.15 points	<0.01%	0.16%
Host Hotels & Resorts ReitHST	RSPA +0.14 points	0.03%	0.17%
Mettler ToledoMTD	RSPA +0.15 points	0.05%	0.20%
Lululemon AthleticaLULU	RSPA +0.14 points	0.02%	0.16%
SalesforceCRM	IVVW +0.15 points	0.29%	0.14%
Trimble IncTRMB	RSPA +0.15 points	0.02%	0.17%
Everpure Inc Class AP	RSPA +0.15 points	0.06%	0.21%
Godaddy Class AGDDY	RSPA +0.15 points	0.02%	0.17%
FortiveFTV	RSPA +0.15 points	0.03%	0.18%
SandiskSNDK	IVVW +0.15 points	0.26%	0.11%
Generac HoldingsGNRC	RSPA +0.14 points	0.02%	0.16%
Stanley Black & DeckerSWK	RSPA +0.15 points	0.02%	0.17%
Pinnacle WestPNW	RSPA +0.14 points	0.02%	0.16%
CdwCDW	RSPA +0.14 points	0.03%	0.17%
Skyworks SolutionsSWKS	RSPA +0.14 points	0.03%	0.17%
Erie Indemnity Class AERIE	RSPA +0.14 points	0.01%	0.15%
ApaAPA	RSPA +0.14 points	0.03%	0.17%
PepsicoPEP	IVVW +0.14 points	0.29%	0.15%
Best BuyBBY	RSPA +0.14 points	0.03%	0.17%
Textron IncTXT	RSPA +0.14 points	0.02%	0.16%
ViatrisVTRS	RSPA +0.14 points	0.03%	0.17%
Everest GroupEG	RSPA +0.14 points	0.02%	0.16%
West Pharmaceutical ServicesWST	RSPA +0.14 points	0.04%	0.18%
Tyler TechnologiesTYL	RSPA +0.14 points	0.02%	0.16%
Hormel Foods CorpHRL	RSPA +0.14 points	<0.01%	0.15%
Echostar Class AECHO	RSPA +0.14 points	0.02%	0.16%
Avery Dennison CorpAVY	RSPA +0.14 points	0.02%	0.16%
Tyson Foods Inc Class ATSN	RSPA +0.14 points	0.02%	0.16%
Zebra Technologies Corp Class AZBRA	RSPA +0.13 points	0.03%	0.16%

All IVVW holdings⁠All 524 RSPA 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.

IVVW vs RSPA Cost

Overpaying RSPA vs IVVW

$793

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

IVVW 0.25%
$5,159
RSPA 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

IVVW 0.25%
RSPA 0.29%
Overpaying

Year by year

Year	IVVW	RSPA	Overpaying
10	$455	$527	$72
20	$1,769	$2,044	$275
30	$5,159	$5,952	$793

Expense ratio

0.25%IVVW, cheaper
0.29%RSPA

IVVW0.25%RSPA0.29%

0.10%1.18%

Middle half of S&P 500 Option Income funds
Median 0.60%

IVVW 2nd cheapest of 51 funds

RSPA 5th cheapest of 51 funds

IVVW vs RSPA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IVVW 18.55%, better; RSPA 9.16%
Payout (12M): IVVW $8.25; RSPA $4.87
Last payment: IVVW $0.88; RSPA $0.41
Ex-dividend: IVVW Oct 2, 2026; RSPA Oct 19, 2026
Paid on: IVVW Oct 7, 2026; RSPA Oct 23, 2026
Frequency: IVVW Monthly; RSPA Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

IVVWMonthly · 31 paymentsAll IVVW payments⁠

RSPAMonthly · 27 paymentsAll RSPA payments⁠

IVVW vs RSPA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IVVW 7.3%since Apr 2024RSPA 9.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: IVVW 1.10since Apr 2024RSPA 0.83since Aug 2024
Worst fallMax drawdown, 5 years: IVVW −16.8%since Mar 2024RSPA −15.4%since Jul 2024
Market sensitivityBeta, 5 years: IVVW 0.54RSPA 0.58; Market = 1

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