Two major U.S. equity exchange-traded funds, the Vanguard Mega Cap Growth ETF (MGK) and the Invesco S&P 500 Equal Weight ETF (RSP), present sharply different investment approaches. MGK concentrates on the largest growth stocks, while RSP holds equal-weighted positions across the entire S&P 500.
Data as of January 15, 2026, shows MGK with an expense ratio of 0.07% and a one-year total return of 21.27%. RSP has an expense ratio of 0.20% and a one-year total return of 13.32%. RSP offers a dividend yield of 1.64%, significantly higher than MGK's 0.35%.
Over a five-year period, MGK showed a maximum drawdown of -36.02%, while RSP's was -21.39%. An investment of $1,000 in MGK would have grown to $2,034 over five years, compared to $1,509 for the same investment in RSP.
RSP tracks the S&P 500 Equal Weight Index, providing broad diversification across 504 holdings. Its sector allocations include technology at 16%, industrials at 15%, and financial services at 14%. No single holding represents more than 0.3% of the fund's assets.
MGK's portfolio is heavily concentrated, with 56% of assets in technology, 16% in communication services, and 12% in consumer cyclicals. Apple, Nvidia, and Microsoft combined make up over one-third of the fund's assets. MGK holds 66 stocks in total.
The funds' beta measurements indicate MGK has been more volatile, with a five-year monthly beta of 1.20 compared to RSP's 1.00. RSP manages $76 billion in assets, while MGK manages $32 billion.