Rankings / RSPA
Invesco S&P 500 Equal Weight Income Advantage ETF
6.3
Overall Score
RSPA is an actively managed Invesco fund of funds that holds stocks and ETFs to mirror the S&P 500 Equal Weight Index, 523 positions. It earns option income through equity-linked notes (ELNs), and about 20% of assets sit in an Invesco government money market fund. It pays monthly and charges 0.29%.
The fund holds all 500 stocks of the S&P 500 in equal weights and layers an active option income overlay on top. The overlay is assembled through equity-linked notes that layer covered calls on top of cash and equity positions, with up to 10% of net assets in short-term ELNs focused on downside protection. Premium collected is distributed monthly. The strategy does not eliminate market declines: the fund still participates in downturns.
Down capture of 82% against 68% up capture means the structure gave up more upside than it cushioned losses over 26 months.
Cumulative total return of RSPA against SPY, distributions reinvested.
Cumulative total return, rebased to 0% at the start of each period. Distributions reinvested. Data through end of previous month.
Calendar-year total return, distributions reinvested.
| Year | RSPA | SPY |
|---|---|---|
| 2026 YTD | +8.49% | +12.71% |
| 2025 | +11.04% | +17.72% |
| 2024 * | +3.17% | +7.09% |
Historical years are frozen. YTD is refreshed monthly. * Partial year: return from fund inception to December 31.
Composite score from six weighted criteria, measured since inception.
Performance since inception against the benchmark.
How much of the benchmark drawdown the fund absorbed.
How much of the benchmark rally the fund kept.
Frequency of distribution cuts below 85% of the previous payment.
Inversely proportional to the annual management fee.
Assets under management on a log scale.
Sector and geographic composition of RSPA underlying holdings.
The same six criteria, applied to different trailing periods. Pro subscribers see the full breakdown.
Since inception
6.3
3 years
6.3
1 year
7.8
3 months
4.7
How has RSPA ranked across inception, 3 years, 1 year, and 3 months? Pro subscribers can compare a fund's trajectory over every window, across all 28 funds.
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Expense Ratio
0.390%
Inception Date
July 1, 2024
Benchmark
SPY
Category
Covered Call - Large Cap
Distribution Frequency
Monthly
Maturity Rating
4/5 stars
Scores calculated using CoveredRank methodology. Every formula is published and reproducible.
See full methodology→Disclaimer: CoveredRank provides independent educational content only. This is not financial advice. Please consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results.