RSPN vs XLI: Grades, Fees and Holdings Compared

Invesco S&P 500 Equal Weight Industrials ETF

RSPNCNYSE Arca

State Street Industrial Select Sector SPDR ETF

XLIANYSE Arca

Overlap

65.7%by weight

Expense ratio

XLI −0.32pt a year

RSPN0.40%XLI0.08%

Avg volume · 30D

XLI 29.5×the volume

RSPN240KXLI7.07M

10Y return · a year

RSPN +0.9pt

RSPN+14.1%XLI+13.2%

RSPN vs XLI Performance

Oct 29, 2021 – Oct 30, 2026

+64.0%RSPN+72.6%XLI

Expense ratio: RSPN 0.40%; XLI 0.08%, better
Fund size: RSPN $846M; XLI $31.5B
1Y total return: RSPN +9.2%; XLI +9.2%
Yield (12M): RSPN 0.89%; XLI 1.13%, better
Holdings: RSPN 85; XLI 85
Avg volume (30D): RSPN 240K sh; XLI 7.07M sh, better
NAV per share: RSPN $60.54; XLI $170.10
52W range

ETF.net Grade

Pillar letters and Scores for RSPN, XLI, with each pillar’s weight
Pillar	RSPN	XLI
Cost30% weight	D27	A90Higher
Mission25% weight	Not scored	A85
Risk15% weight	C54	B67Higher
Tradability15% weight	B63	A95Higher
Holdings10% weight	A79Higher	C44
Durability5% weight	C49	A81Higher

Rank among Industrials (Broad) funds

How we build Categories ›

Same Category. RSPN and XLI are both graded against the same 10 Industrials (Broad) funds, so their Grades compare head to head.

Industrials (Broad)⁠

Category · 10 funds

See all 10 ›

XLI ranks 1st and RSPN 7th of 10 funds in the Industrials (Broad) Category.

Rank 1AXLIState Street Industrial Select Sector SPDR ETFScore 79
Rank 2AFIDUFidelity MSCI Industrials Index ETFScore 72
Rank 6CPSCIInvesco S&P SmallCap Industrials ETFScore 49
Rank 7CRSPNInvesco S&P 500 Equal Weight Industrials ETFScore 48
Rank 8CTRUIVanEck Industrials TruSector ETFScore 40

Our read on each fund

ETF.net Research

RSPNCInvesco S&P 500 Equal Weight Industrials ETF

XLIAState Street Industrial Select Sector SPDR ETF

In short

RSPN Industrials with the pecking order erased. RSPN gives every industrials stock in the S&P 500 the same weight and resets quarterly, so a mid-tier machinery maker counts as much as the sector's biggest names.

XLI One of the original 1998 sector SPDRs: the S&P 500's industrial engine (defense primes, machinery, railroads, freight) in about 80 large-cap names for 0.08% a year.

Stated mandate

RSPN The fund tracks an index that equally weights stocks in the industrials sector of the S&P 500® Index and rebalances quarterly.

XLI The fund seeks to track, before expenses, the price and yield performance of the Industrial Select Sector Index.

Why people hold it

RSPN Equal weight, reset every quarter: the index trims what has run and tops up what has lagged on a schedule rather than letting size decide.invesco.com
About 80 holdings, none allowed to dominate, so the sector's giants and its mid-tier names carry the same say.
Trading since 2006 and now a multi-billion-dollar fund, with a record spanning several industrial cycles and close tracking of its stated index.
Sits in the upper half of the broad industrials group, and pays distributions quarterly.

XLI Charges 0.08% a year against a peer-group median of 0.38%, putting it at the bottom of the fee table with FIDU and a hair under VIS.
Launched in December 1998 as one of the first US sector funds. Decades of live history, a multi-billion-dollar asset base, and very heavy daily trading.
Plain index fund, no factor tilts or screens: it owns the industrial sector of the S&P 500 as defined, and has tracked that index closely.ssga.com
Rates in the top quartile of the broad industrials funds we cover, one of the stronger implementations in the group.

Worth knowing

RSPN The tilt has a price: 0.40% a year, against 0.08% for XLI and 0.09% for VIS on the cap-weighted side.
Equal weighting leans harder on the sector's smaller members, so results can drift from cap-weighted industrials benchmarks in either direction.
Moderately traded rather than a volume heavyweight in its category, which can show up in spreads on larger orders.

XLI S&P 500 only, so mid and small caps are out. VIS and FIDU reach further down the cap ladder; PSCI covers small-cap industrials exclusively.ssga.com
About 80 stocks weighted by market value, so the aerospace, defense and machinery giants at the top drive most of the move. RSPN spreads it evenly for 0.40%.
One sector, one economy: industrials swing with the business cycle, and this is a concentrated slice rather than a diversified core holding. Pays quarterly.

Full RSPN profile⁠

Full XLI profile⁠

RSPN vs XLI Holdings

How RSPN and XLI differ

Overlap by weight

65.7%

Shared holdings make up 100% of XLI and 99.9% of RSPN.

Level by level

Holdings83 in both65.7%
Sector4 Sectors97.2%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in RSPN and XLI, widest gap first
Sector	More in RSPNMore in XLI	RSPN	XLI
Industrials	XLI +2.8 points	90.6%	93.4%
Technology	RSPN +1.0 points	7.1%	6.1%
Materials	RSPN +1.0 points	1.3%	0.3%
Consumer Discretionary	RSPN +0.9 points	1.1%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in RSPN and XLI, widest gap first
Country	More in RSPNMore in XLI	RSPN	XLI
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

RSPN13.7%
XLI37.5%

Securities held

RSPN84
XLI83

Asset class

RSPN: Equity
XLI: Equity

Holdings

Only in RSPN1
In both83
Only in XLI0

Only in RSPN

1 security, 0.1% of RSPN by weight

Invesco Government & Agency Portfolio0.07%

Only in XLI

0 securities, 0.0% of XLI by weight

Weight gaps

All 83 Holdings in both funds, largest gap first.

Holding weights in RSPN and XLI, widest gap first
Holding	More in RSPNMore in XLI	RSPN	XLI
General Electric CoGE	XLI +4.88 points	1.13%	6.01%
Caterpillar IncCAT	XLI +4.57 points	0.94%	5.51%
RTX CorpRTX	XLI +3.79 points	1.18%	4.97%
GE Vernova IncGEV	XLI +3.27 points	1.11%	4.38%
Union Pacific CorpUNP	XLI +2.08 points	1.24%	3.32%
Deere & CoDE	XLI +1.92 points	1.15%	3.07%
Eaton Corp PLCETN	XLI +1.72 points	1.11%	2.83%
Boeing Co/TheBA	XLI +1.54 points	0.98%	2.52%
Uber Technologies IncUBER	XLI +1.39 points	1.09%	2.48%
A O Smith CorpAOS	RSPN +1.16 points	1.29%	0.13%
Allegion plcALLE	RSPN +1.16 points	1.45%	0.29%
Pentair PLCPNR	RSPN +1.16 points	1.35%	0.19%
Huntington Ingalls Industries IncHII	RSPN +1.10 points	1.33%	0.23%
Masco CorpMAS	RSPN +1.07 points	1.36%	0.29%
Generac Holdings IncGNRC	RSPN +1.06 points	1.28%	0.22%
Stanley Black & Decker IncSWK	RSPN +1.04 points	1.33%	0.29%
Fortive CorpFTV	RSPN +1.02 points	1.39%	0.37%
Textron IncTXT	RSPN +1.01 points	1.29%	0.28%
Parker-Hannifin CorpPH	XLI +1.01 points	1.16%	2.17%
Rollins IncROL	RSPN +0.99 points	1.18%	0.19%
Lockheed Martin CorpLMT	XLI +0.97 points	1.45%	2.42%
Leidos Holdings IncLDOS	RSPN +0.96 points	1.29%	0.33%
DuPont de Nemours IncDD	RSPN +0.94 points	1.29%	0.35%
Jacobs Solutions IncJ	RSPN +0.94 points	1.27%	0.33%
Southwest Airlines CoLUV	RSPN +0.94 points	1.33%	0.39%
IDEX CorpIEX	RSPN +0.92 points	1.25%	0.33%
Nordson CorpNDSN	RSPN +0.91 points	1.23%	0.32%
Lennox International IncLII	RSPN +0.89 points	1.09%	0.20%
Broadridge Financial Solutions IncBR	RSPN +0.87 points	1.25%	0.38%
Equifax IncEFX	RSPN +0.87 points	1.26%	0.39%
Automatic Data Processing IncADP	XLI +0.83 points	1.27%	2.10%
Veralto CorpVLTO	RSPN +0.82 points	1.29%	0.47%
Verisk Analytics IncVRSK	RSPN +0.80 points	1.26%	0.46%
Fedex Freight Holding Co IncFDXF	RSPN +0.79 points	1.03%	0.24%
Snap-on IncSNA	RSPN +0.78 points	1.12%	0.34%
Ingersoll Rand IncIR	RSPN +0.77 points	1.28%	0.51%
Dover CorpDOV	RSPN +0.77 points	1.29%	0.52%
Expeditors International of Washington IncEXPD	RSPN +0.76 points	1.24%	0.48%
Otis Worldwide CorpOTIS	RSPN +0.74 points	1.27%	0.53%
CH Robinson Worldwide IncCHRW	RSPN +0.72 points	1.00%	0.28%
Hubbell IncHUBB	RSPN +0.70 points	1.13%	0.43%
JB Hunt Transport Services IncJBHT	RSPN +0.68 points	0.98%	0.30%
Vertiv Holdings CoVRT	XLI +0.65 points	1.10%	1.75%
Copart IncCPRT	RSPN +0.62 points	1.08%	0.46%
Trane Technologies PLCTT	XLI +0.62 points	1.14%	1.76%
Xylem Inc/NYXYL	RSPN +0.60 points	0.99%	0.39%
Quanta Services IncPWR	XLI +0.59 points	1.18%	1.77%
United Airlines Holdings IncUAL	RSPN +0.52 points	1.15%	0.63%
CSX CorpCSX	XLI +0.52 points	1.27%	1.79%
EMCOR Group IncEME	RSPN +0.52 points	1.08%	0.56%
Old Dominion Freight Line IncODFL	RSPN +0.52 points	1.11%	0.59%
General Dynamics CorpGD	XLI +0.51 points	1.23%	1.74%
Johnson Controls International plcJCI	XLI +0.48 points	1.28%	1.77%
Howmet Aerospace IncHWM	XLI +0.48 points	1.04%	1.52%
Paychex IncPAYX	RSPN +0.47 points	1.12%	0.65%
Emerson Electric CoEMR	XLI +0.42 points	1.34%	1.76%
3M CoMMM	XLI +0.42 points	1.27%	1.69%
Ferguson Enterprises IncFERG	RSPN +0.41 points	1.27%	0.86%
Axon Enterprise IncAXON	RSPN +0.39 points	1.05%	0.66%
Republic Services IncRSG	RSPN +0.39 points	1.25%	0.86%
L3Harris Technologies IncLHX	RSPN +0.35 points	1.31%	0.96%
Waste Management IncWM	XLI +0.34 points	1.25%	1.59%
Rockwell Automation IncROK	RSPN +0.32 points	1.25%	0.93%
Delta Air Lines IncDAL	RSPN +0.32 points	1.22%	0.90%
Westinghouse Air Brake Technologies CorpWAB	RSPN +0.31 points	1.20%	0.89%
Honeywell Aerospace IncHONA	RSPN +0.30 points	1.24%	0.94%
Carrier Global CorpCARR	RSPN +0.28 points	1.13%	0.85%
Bloom Energy CorpBE	XLI +0.24 points	0.97%	1.21%
Cummins IncCMI	XLI +0.22 points	1.10%	1.32%
United Parcel Service IncUPS	XLI +0.22 points	1.27%	1.49%
AMETEK IncAME	RSPN +0.18 points	1.25%	1.07%
Norfolk Southern CorpNSC	XLI +0.18 points	1.24%	1.42%
WW Grainger IncGWW	RSPN +0.17 points	1.27%	1.10%
Fastenal CoFAST	RSPN +0.15 points	1.27%	1.12%
Cintas CorpCTAS	XLI +0.11 points	1.28%	1.39%
Northrop Grumman CorpNOC	XLI +0.11 points	1.28%	1.39%
Illinois Tool Works IncITW	XLI +0.10 points	1.25%	1.35%
Comfort Systems USA IncFIX	RSPN +0.09 points	0.95%	0.86%
FedEx CorpFDX	XLI +0.08 points	1.17%	1.25%
Honeywell International IncHON	XLI +0.03 points	1.27%	1.30%
TransDigm Group IncTDG	RSPN +0.02 points	1.22%	1.20%
United Rentals IncURI	XLI +0.01 points	1.37%	1.38%
PACCAR IncPCAR	XLI +0.01 points	0.99%	1.00%

All 84 RSPN holdings⁠All 83 XLI 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.

RSPN vs XLI Cost

Overpaying RSPN vs XLI

$6,401

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

RSPN 0.40%
$8,090
XLI 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

RSPN 0.40%
XLI 0.08%
Overpaying

Year by year

Year	RSPN	XLI	Overpaying
10	$723	$147	$576
20	$2,793	$575	$2,218
30	$8,090	$1,689	$6,401

Expense ratio

0.40%RSPN
0.08%XLI, cheaper

XLI0.08%RSPN0.40%

0.08%0.60%

Middle half of Industrials (Broad) funds
Median 0.33%

XLI cheapest of 10 funds

RSPN 8th cheapest of 10 funds

RSPN vs XLI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RSPN 0.89%; XLI 1.13%, better
Payout (12M): RSPN $0.54; XLI $1.88
Last payment: RSPN $0.18; XLI $0.45
Ex-dividend: RSPN Sep 21, 2026; XLI Sep 21, 2026
Paid on: RSPN Sep 25, 2026; XLI Sep 23, 2026
Frequency: RSPN Quarterly; XLI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RSPNQuarterly · 39 paymentsAll RSPN payments⁠

XLIQuarterly · 39 paymentsAll XLI payments⁠

RSPN vs XLI Risk

Fall from peak · 5 years

RSPN
XLI

Risk facts

VolatilityStd dev, 3 years: RSPN 16.1%XLI 15.9%, better
Return per unit of riskSharpe ratio, 3 years: RSPN 0.90XLI 1.01, better
Worst fallMax drawdown, 5 years: RSPN −21.9%XLI −21.7%, better
Market sensitivityBeta, 5 years: RSPN 1.01XLI 1.00; Market = 1

RSPN and XLI in the news

All news⁠

Sector Pulse
Caterpillar and Deere fell as industrials dropped 2.2%
Oct 7, 2026XLI
Closing Bell
Industrial Stocks Sink 2.2% as Treasury Yields Hit 24-Year Highs
Oct 7, 2026XLI
Behind the Index
Apple, Microsoft, Nvidia, Amazon and Alphabet rose, and the S&P 500 fund still fell
Sep 30, 2026XLI
Sector Pulse
Industrials led the sector funds as Caterpillar, GE Aerospace and Bloom Energy rose
Sep 26, 2026XLI
Sector Pulse
The S&P 500 slipped 0.07% as utilities closed at a 52-week low
Sep 24, 2026XLI
Sector Pulse
Real estate falls 2.3% as the 10-year yield closes at 5.11%
Sep 23, 2026XLI

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RSPN vs XLI

In short

Stated mandate

Why people hold it