RSPF vs VFH: Grades, Fees and Holdings Compared

Invesco S&P 500 Equal Weight Financials ETF

RSPFCNYSE Arca

Vanguard Financials ETF

VFHBNYSE Arca

Overlap

48.3%by weight

Expense ratio

VFH −0.31pt a year

RSPF0.40%VFH0.09%

Avg volume · 30D

VFH 9.8×the volume

RSPF58.8KVFH579K

10Y return · a year

VFH +0.6pt

RSPF+12.3%VFH+12.9%

RSPF vs VFH Performance

Oct 29, 2021 – Oct 30, 2026

+38.5%RSPF+52.3%VFH

Expense ratio: RSPF 0.40%; VFH 0.09%, better
Fund size: RSPF $325M; VFH $13.9B
1Y total return: RSPF +12.2%, better; VFH +9.6%
Yield (12M): RSPF 1.52%; VFH 1.71%, better
Holdings: RSPF 78; VFH 426
Avg volume (30D): RSPF 58.8K sh; VFH 579K sh, better
NAV per share: RSPF $82.38; VFH $137.29
52W range

ETF.net Grade

Pillar letters and Scores for RSPF, VFH, with each pillar’s weight
Pillar	RSPF	VFH
Cost30% weight	D35	A88Higher
Mission25% weight	A77	Not scored
Risk15% weight	B56Higher	C53
Tradability15% weight	D33	B56Higher
Holdings10% weight	A88Higher	C53
Durability5% weight	D39	A84Higher

Rank among Financials (Broad) funds

How we build Categories ›

Same Category. RSPF and VFH 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 ›

VFH ranks 4th and RSPF 11th of 18 funds in the Financials (Broad) Category.

Rank 1AXLFState Street Financial Select Sector SPDR ETFScore 82
Rank 2AFNCLFidelity MSCI Financials Index ETFScore 76
Rank 3AKIEState Street SPDR S&P Insurance ETFScore 72
Rank 4BVFHVanguard Financials ETFScore 69
Rank 5BIXGiShares Global Financials ETFScore 66
Rank 10BFXOFirst Trust Financials AlphaDEX FundScore 56
Rank 11CRSPFInvesco S&P 500 Equal Weight Financials ETFScore 53
Rank 12CIYGiShares U.S. Financial Services ETFScore 50

Our read on each fund

ETF.net Research

RSPFCInvesco S&P 500 Equal Weight Financials ETF

VFHBVanguard Financials ETF

In short

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.

VFH Financials without the size filter. VFH holds roughly 400 US financial stocks, from the megabanks down to small regional lenders and insurers, for 0.09% a year.

Stated mandate

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

VFH VFH seeks to track the MSCI US Investable Market Index (IMI)/Financials 25/50, providing passively managed, multicapitalization exposure to U.S. financial-sector equities.

Why people hold it

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.

VFH Owns the whole sector, not just the giants: roughly 400 US financial names through MSCI's US IMI Financials 25/50 index, megabanks through small regional lenders and insurers.vanguard.com
Costs 0.09% a year, a fraction of what the typical broad financials fund charges.vanguard.com
Running since 2004, now a multi-billion-dollar fund that trades actively, and it has stayed close to its index. One of the strongest implementations in the financials group.
Pays out quarterly, passively managed, no manager stock-picking inside the sector.

Worth knowing

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

VFH One sector, one storyline: banks, insurers and brokers tend to move together with interest rates and the credit cycle.
The multicap reach cuts both ways. Small regional banks and niche insurers ride along with the megacaps, and they can swing harder.
Cost isn't the edge here: XLF and FNCL sit at essentially the same fee. Breadth of coverage is the real differentiator.

Full RSPF profile⁠

Full VFH profile⁠

RSPF vs VFH Holdings

How RSPF and VFH differ

Overlap by weight

48.3%

Shared holdings make up 97.3% of RSPF and 85.3% of VFH.

Level by level

Holdings74 in both48.3%
Sector7 Sectors94.2%
Countryby domicile98.6%
Asset classEquity100%

Sector

Sector weights in RSPF and VFH, widest gap first
Sector	More in RSPFMore in VFH	RSPF	VFH
Financials	VFH +5.0 points	92.3%	97.3%
Technology	RSPF +4.5 points	6.4%	1.9%
Industrials	RSPF +1.2 points	1.3%	0.1%
Real Estate	VFH +0.6 points	0.0%	0.6%
Health Care	VFH +0.1 points	0.0%	0.1%
Consumer Discretionary	Same weight	0.0%	0.0%
Communication	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in RSPF and VFH, widest gap first
Country	More in RSPFMore in VFH	RSPF	VFH
United States	VFH +1.4 points	98.6%	100.0%
Switzerland	RSPF +1.4 points	1.4%	0.0%

Concentration

Weight in the 10 largest Holdings

RSPF14.6%
VFH48.5%

Securities held

RSPF77
VFH424

Asset class

RSPF: Equity
VFH: Equity

Holdings

Only in RSPF3
In both74
Only in VFH350

Only in RSPF

3 securities, 2.6% of RSPF by weight

Fiserv Inc1.31%
Block Inc1.27%
Invesco Government & Agency Portfolio0.02%

Only in VFH

350 securities, 14.2% of VFH by weight

Block Inc0.45%
LPL Financial Holdings Inc0.29%
Fiserv Inc0.29%
Markel Group Inc0.26%
SoFi Technologies Inc0.24%
Affirm Holdings Inc0.23%
East West Bancorp Inc0.20%
Reinsurance Group of America Inc0.19%
First Citizens BancShares Inc/NC0.18%
Toast Inc0.17%
Pinnacle Financial Partners Inc0.17%
Equitable Holdings Inc0.17%
Annaly Capital Management Inc0.16%
RenaissanceRe Holdings Ltd0.16%
Unum Group0.15%
SLBBH11420.14%
Tradeweb Markets Inc0.14%
First Horizon Corp0.13%
Stifel Financial Corp0.12%
Rocket Cos Inc0.12%
AGNC Investment Corp0.12%
Ally Financial Inc0.12%
Carlyle Group Inc/The0.12%
SEI Investments Co0.12%
Popular Inc0.12%
Southstate Bank Corp0.12%
Fidelity National Financial Inc0.11%
Wintrust Financial Corp0.11%
Evercore Inc0.11%
UMB Financial Corp0.11%
Zions Bancorp NA0.11%
Affiliated Managers Group Inc0.11%
Cullen/Frost Bankers Inc0.11%
American Financial Group Inc/OH0.11%
Voya Financial Inc0.10%
Primerica Inc0.10%
Corebridge Financial Inc0.10%
Old Republic International Corp0.10%
FirstCash Holdings Inc0.10%
Old National Bancorp/IN0.10%
Columbia Banking System Inc0.10%
Jackson Financial Inc0.10%
Western Alliance Bancorp0.09%
Prosperity Bancshares Inc0.09%
Hanover Insurance Group Inc/The0.09%
Oscar Health Inc0.09%
Commerce Bancshares Inc/MO0.09%
Kinsale Capital Group Inc0.08%
Axis Capital Holdings Ltd0.08%
Lincoln National Corp0.08%

Weight gaps

All 74 Holdings in both funds, largest gap first.

Holding weights in RSPF and VFH, widest gap first
Holding	More in RSPFMore in VFH	RSPF	VFH
JPMorgan Chase & CoJPM	VFH +9.18 points	1.28%	10.46%
Berkshire Hathaway IncBRK.B	VFH +6.95 points	1.41%	8.36%
Visa IncV	VFH +5.63 points	1.47%	7.10%
Mastercard IncMA	VFH +3.84 points	1.48%	5.32%
Bank of America CorpBAC	VFH +3.13 points	1.07%	4.20%
Goldman Sachs Group Inc/TheGS	VFH +1.77 points	1.19%	2.96%
Wells Fargo & CoWFC	VFH +1.64 points	1.24%	2.88%
Morgan StanleyMS	VFH +1.48 points	1.16%	2.64%
Citigroup IncC	VFH +1.41 points	1.20%	2.61%
FactSet Research Systems IncFDS	RSPF +1.40 points	1.51%	0.11%
Erie Indemnity CoERIE	RSPF +1.29 points	1.35%	0.07%
Everest Group LtdEG	RSPF +1.27 points	1.44%	0.17%
Assurant IncAIZ	RSPF +1.22 points	1.38%	0.16%
Jack Henry & Associates IncJKHY	RSPF +1.21 points	1.33%	0.12%
W R Berkley CorpWRB	RSPF +1.21 points	1.38%	0.17%
Loews CorpL	RSPF +1.14 points	1.35%	0.21%
Franklin Templeton IncBEN	RSPF +1.14 points	1.25%	0.11%
Brown & Brown IncBRO	RSPF +1.13 points	1.34%	0.21%
Cincinnati Financial CorpCINF	RSPF +1.12 points	1.41%	0.29%
PayPal Holdings IncPYPL	RSPF +1.11 points	1.44%	0.33%
Globe Life IncGL	RSPF +1.09 points	1.24%	0.15%
Fidelity National Information Services IncFIS	RSPF +1.09 points	1.29%	0.20%
KeyCorpKEY	RSPF +1.08 points	1.30%	0.22%
Cboe Global Markets IncCBOE	RSPF +1.08 points	1.42%	0.34%
Global Payments IncGPN	RSPF +1.07 points	1.30%	0.23%
Invesco LtdIVZ	RSPF +1.06 points	1.19%	0.13%
Arch Capital Group LtdACGL	RSPF +1.05 points	1.42%	0.37%
T Rowe Price Group IncTROW	RSPF +1.03 points	1.30%	0.27%
Synchrony FinancialSYF	RSPF +1.03 points	1.31%	0.28%
Principal Financial Group IncPFG	RSPF +1.02 points	1.31%	0.29%
Willis Towers Watson PLCWTW	RSPF +1.03 points	1.35%	0.32%
MSCI IncMSCI	RSPF +1.01 points	1.47%	0.46%
Corpay IncCPAY	RSPF +1.00 points	1.29%	0.29%
Regions Financial CorpRF	RSPF +1.00 points	1.27%	0.27%
Nasdaq IncNDAQ	RSPF +0.98 points	1.48%	0.50%
American International Group IncAIG	RSPF +0.96 points	1.43%	0.47%
Ares Management CorpARES	RSPF +0.96 points	1.25%	0.29%
Citizens Financial Group IncCFG	RSPF +0.93 points	1.25%	0.32%
Huntington Bancshares Inc/OHHBAN	RSPF +0.89 points	1.26%	0.37%
Raymond James Financial IncRJF	RSPF +0.90 points	1.21%	0.31%
Northern Trust CorpNTRS	RSPF +0.88 points	1.23%	0.35%
Hartford Insurance Group Inc/TheHIG	RSPF +0.87 points	1.27%	0.40%
M&T Bank CorpMTB	RSPF +0.86 points	1.24%	0.38%
Prudential Financial IncPRU	RSPF +0.84 points	1.31%	0.47%
Charles Schwab Corp/TheSCHW	VFH +0.82 points	1.10%	1.92%
Aflac IncAFL	RSPF +0.81 points	1.42%	0.61%
Fifth Third BancorpFITB	RSPF +0.77 points	1.32%	0.55%
MetLife IncMET	RSPF +0.77 points	1.38%	0.61%
Interactive Brokers Group IncIBKR	RSPF +0.76 points	1.19%	0.43%
Arthur J Gallagher & CoAJG	RSPF +0.75 points	1.45%	0.70%
Coinbase Global IncCOIN	RSPF +0.74 points	1.21%	0.47%
Aon PLCAON	RSPF +0.72 points	1.39%	0.67%
Ameriprise Financial IncAMP	RSPF +0.66 points	1.19%	0.53%
Allstate Corp/TheALL	RSPF +0.65 points	1.33%	0.68%
Truist Financial CorpTFC	RSPF +0.62 points	1.29%	0.67%
State Street CorpSTT	RSPF +0.62 points	1.19%	0.57%
Apollo Global Management IncAPO	RSPF +0.61 points	1.19%	0.58%
American Express CoAXP	VFH +0.59 points	1.32%	1.91%
Moody's CorpMCO	RSPF +0.55 points	1.35%	0.80%
Travelers Cos Inc/TheTRV	RSPF +0.55 points	1.43%	0.88%
KKR & Co IncKKR	RSPF +0.53 points	1.21%	0.68%
Marsh & McLennan Cos IncMRSH	RSPF +0.49 points	1.47%	0.98%
Blackrock IncBLK	VFH +0.41 points	1.44%	1.85%
Intercontinental Exchange IncICE	RSPF +0.35 points	1.37%	1.02%
CME Group IncCME	RSPF +0.29 points	1.42%	1.13%
Blackstone IncBX	RSPF +0.24 points	1.23%	0.99%
US BancorpUSB	RSPF +0.21 points	1.28%	1.07%
PNC Financial Services Group Inc/ThePNC	RSPF +0.21 points	1.27%	1.06%
Chubb LtdCB	RSPF +0.06 points	1.41%	1.35%
Bank of New York Mellon Corp/TheBNY	RSPF +0.04 points	1.21%	1.17%
Capital One Financial CorpCOF	VFH +0.04 points	1.30%	1.34%
Robinhood Markets IncHOOD	RSPF +0.04 points	1.05%	1.01%
Progressive Corp/ThePGR	VFH +0.03 points	1.41%	1.44%
S&P Global IncSPGI	RSPF +0.03 points	1.45%	1.42%

All 77 RSPF holdings⁠All 404 VFH 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.

RSPF vs VFH Cost

Overpaying RSPF vs VFH

$6,192

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

RSPF 0.40%
$8,090
VFH 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

RSPF 0.40%
VFH 0.09%
Overpaying

Year by year

Year	RSPF	VFH	Overpaying
10	$723	$165	$558
20	$2,793	$646	$2,147
30	$8,090	$1,898	$6,192

Expense ratio

0.40%RSPF
0.09%VFH, cheaper

VFH0.09%RSPF0.40%

0.08%5.39%

Middle half of Financials (Broad) funds
Median 0.37%

VFH 3rd cheapest of 18 funds

RSPF 12th cheapest of 18 funds

RSPF vs VFH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RSPF 1.52%; VFH 1.71%, better
Payout (12M): RSPF $1.25; VFH $2.35
Last payment: RSPF $0.29; VFH $0.45
Ex-dividend: RSPF Sep 21, 2026; VFH Sep 23, 2026
Paid on: RSPF Sep 25, 2026; VFH Sep 25, 2026
Frequency: RSPF Quarterly; VFH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RSPFQuarterly · 39 paymentsAll RSPF payments⁠

VFHQuarterly · 39 paymentsAll VFH payments⁠

RSPF vs VFH Risk

Fall from peak · 5 years

RSPF
VFH

Risk facts

VolatilityStd dev, 3 years: RSPF 16.6%VFH 15.9%, better
Return per unit of riskSharpe ratio, 3 years: RSPF 0.95VFH 1.11, better
Worst fallMax drawdown, 5 years: RSPF −27.7%VFH −25.7%, better
Market sensitivityBeta, 5 years: RSPF 0.87VFH 0.82; Market = 1

RSPF and VFH in the news

All news⁠

Deep Dive
Bank earnings week will miss most of what a financials fund owns
Oct 12, 2026RSPFVFH

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RSPF vs VFH

In short

Stated mandate

Why people hold it

Worth knowing

How RSPF and VFH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RSPF

Only in VFH

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Bank earnings week will miss most of what a financials fund owns

How RSPF and VFH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RSPF

Only in VFH

Weight gaps