Investors weighing Invesco S&P 500 Equal Weight Health Care ETF (RSPH +0.19%) against Invesco Nasdaq Biotechnology ETF (IBBQ +0.43%) must choose between a broad, equal-weighted healthcare mandate and a specialized, low-cost play on biotechnology firms.
Healthcare is rarely a monolithic sector. While some investors prefer broad exposure across insurance, equipment, and pharmaceuticals, others want to narrow their focus to the high-growth potential of biotechnology. The Invesco S&P 500 fund manages over $700 million more in assets, reflecting its longer history and broader large-cap mandate.
Snapshot (cost & size)
| Metric | IBBQ | RSPH |
|---|---|---|
| Issuer | Invesco | Invesco |
| Share price | $34.10 (as of 2026-08-10) | $36.01 (as of 2026-08-10) |
| Expense ratio | 0.19% | 0.4% |
| 1-yr return (as of 2026-08-10) | 53.8% | 28.2% |
| Dividend yield | 0.8% | 0.6% |
| Beta | 0.61 | 0.78 |
| AUM | $80.8 million | $792.6 million |
Beta measures price volatility relative to the S&P 500; beta is calculated from monthly returns over the available fund history (up to five years). The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
The Invesco biotechnology fund is the more affordable option with an expense ratio of 0.19%, while the Invesco S&P 500 fund charges 0.4%. Though both funds offer income, their yields are relatively modest compared to the broader market.
Performance & risk comparison
| Metric | IBBQ | RSPH |
|---|---|---|
| Max drawdown (5 yr) | (37.9%) | (22.0%) |
| Growth of $1,000 over 5 years (total return) | $1,356 | $1,222 |
Invesco Exchange-Traded Fund Trust – Invesco S&P 500 Equal Weight Health Care ETF
Today’s Change
(0.19%) $0.07
Current Price
$36.10
Key Data Points
AUM
$793M
Dividend Yield
0.64%
Expense Ratio
0.40%
Top Holdings
CRL
2.22%
VEEV
2.14%
TECH
2.05%
The Invesco S&P 500 fund tracks the S&P 500 Equal Weight Health Care Index, which gives every large-cap healthcare company in the benchmark an equal stake. Its largest positions include Charles River Laboratories International (CRL +0.84%) at 2.18%, Veeva Systems (VEEV +2.08%) at 2.13%, and Bio-Techne (TECH +0.11%) at 2.09%. This equal-weight structure means smaller firms have just as much influence as industry titans, leading to a portfolio of 60 holdings with a 98% healthcare and 2% technology tilt. The fund launched in 2006. Invesco S&P 500 Equal Weight Health Care ETF has paid $0.23 per share over the trailing 12 months, which on its recent ~$36.01 share price works out to a 0.6% yield.
In contrast, the Invesco biotechnology fund mirrors the Nasdaq Biotechnology Index, focusing exclusively on specialized biotech and pharmaceutical firms. Its largest positions include Amgen (AMGN +0.45%) at 8.71%, Vertex Pharmaceuticals (VRTX -0.74%) at 7.92%, and Gilead Sciences (GILD +0.07%) at 7.08%. While the fund is more concentrated in its top names, it holds 251 stocks in total, all within the healthcare sector. The recent 53.8% 1-year total return suggests significant momentum for these biotechnology companies compared to the broader healthcare sector. The fund launched in 2021. Invesco Nasdaq Biotechnology ETF has paid $0.26 per share over the trailing 12 months, which on its recent ~$34.10 share price works out to a 0.8% yield.
For more guidance on ETF investing, check out the full guide at this link.
Invesco Exchange-Traded Fund Trust II – Invesco Nasdaq Biotechnology ETF
Today’s Change
(0.43%) $0.15
Current Price
$34.20
Key Data Points
AUM
$81M
Dividend Yield
0.75%
Expense Ratio
0.19%
Top Holdings
AMGN
8.75%
VRTX
8.27%
GILD
6.99%
Which looks like the better buy
Few sectors are generating as many investment opportunities right now as healthcare. Biopharma deal activity surged to its strongest quarter since 2020 earlier this year, GLP-1 drugs continue reshaping metabolic medicine, and FDA approvals are flowing at a steady pace. Both RSPH and IBBQ offer a way into that momentum.
RSPH holds 60 S&P 500 healthcare companies weighted equally, meaning a smaller specialty name like Bio-Techne carries the same portfolio influence as a pharmaceutical giant. That democratic approach reduces concentration but has not translated into strong recent returns, and the fund has been losing assets steadily over the past year.
IBBQ holds more than 250 Nasdaq-listed biotechnology companies at roughly half the cost of RSPH. That broader biotech universe includes earlier-stage companies with more room to grow and more risk of stumbling before they get there.
IBBQ’s lower cost, broader diversification within biotechnology, and exposure to the full Nasdaq biotech landscape make it the more attractive buy for investors who want targeted biotech exposure today. RSPH appeals to those who want equal-weighted access to established S&P 500 healthcare names, though the numbers suggest investors are not convinced it is worth the premium.